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  • Guarantor Application - Burkely Communities

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Guarantor Rental Application Burkely Communities, LLC Community Name: For whom are you the Guarantor? (Name): GUARANTOR INFORMATION Name: Mobile: ( Suffix: Birth Date: ) Home Phone: ( Social Security.

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How to fill out the Guarantor Application - Burkely Communities online

Filling out the Guarantor Application for Burkely Communities is an essential step for those looking to support a resident with their rental agreement. This guide will walk you through the various sections of the form, providing comprehensive and user-friendly instructions to ensure a smooth completion.

Follow the steps to complete the application effectively.

  1. Click ‘Get Form’ button to obtain the form and open it in your online editor.
  2. Begin by providing your personal information in the 'Guarantor Information' section. Fill in your name, mobile number, suffix, birth date, home phone, social security number, email address, and current address including city, state, and zip code. Ensure all information is accurate.
  3. Next, detail your current landlord or mortgage information. Include the landlord's name, phone number, the dates of your tenancy, and your current rental or mortgage amount.
  4. If you have had a previous landlord or mortgage, provide their name, phone number, and the dates of your previous tenancy, along with the previous rental or mortgage amount, if applicable.
  5. Proceed to the 'Guarantor's Employment' section. Enter your current employer's name, your position or title, and your supervisor's information. Include your monthly income (gross amount).
  6. Specify the monthly amount you will guarantee in the designated field. Ensure this amount reflects your financial commitment.
  7. Review the certification statement and ensure you understand the terms. If required, prepare for notarization by planning the signing before a notary public or Burkely Communities representative.
  8. Finally, sign the application with the required signatures, including any co-applicants, and fill in the date of signing.
  9. After completing the form, you may choose to save changes, download, print, or share the document as needed.

Complete your Guarantor Application online today to assist in the leasing process.

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The guarantor is a co-signor, essentially. They pledge their own money and assets so that you are able to qualify for something you would otherwise be unable to afford — in this case a lease for an apartment or house. For most college students and young adults, parents assume this responsibility.

If your guarantor doesn't pay, your landlord can take them to court. Your landlord might want to check your guarantor is able to pay the rent in the same way they've checked your ability to pay. For example, by carrying out a credit check. There is a legal requirement for a guarantee agreement to be in writing.

Typically, one guarantor is enough for roommates, but some landlords will specify whether every applicant needs their own guarantor or if only one will be accepted.

The primary difference between a co-signer and a guarantor is how soon each individual becomes responsible for the borrower's debt. A co-signer is responsible for every payment that a borrower misses. However, a guarantor only assumes responsibility if the borrower falls into total default.

Can anyone be a guarantor? Almost anyone can be a guarantor. It's often a parent or spouse (as long as you have separate bank accounts), but sometimes a friend or relative. However, you should only be a guarantor for someone you trust and are willing and able to cover the repayments for.

A guarantor can be used for multiple tenants, however, a tenant cannot have more than one guarantor.

On paper, the answer is yes. Most landlords are OK with having multiple people act as guarantors on a lease as long as their total incomes will be 80 times the annual rent. However, this is still one of those things you need to ask about before you assume that it will be OK with your landlord's requirements.

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