General Information:
Before you start:
Coles GROUP DO NOT:
· let to groups of individuals (three or more)
· let to persons under the age of 21
· accept smoking in properties
· accept pets in properties as standard. In cases where the specific agreement of the landlord has been obtained a premium will be chargeable to the monthly rent.
Affordability:
Affordability is measured on a simple formula of applicants needing to earn 2.5 times the rent. If an applicant’s income does not meet the criteria but you feel you can afford the property you can offer a guarantor to support your application.
A guarantor needs to earn 3 times the rent.
Quick income reference chart
Rent |
Applicant Income
(2.5 x the rent)
|
Guarantor Income
(3 times the rent)
|
£500 |
£15,000 |
£18,000 |
£600 |
£18,000 |
£21,600 |
£700 |
£21,000 |
£25,200 |
£800 |
£24,000 |
£28,800 |
£900 |
£28,000 |
£32,900 |
£1000 |
£30,000 |
£36,000 |