FAQs:
What are the requirements for guarantors?
There are a few requirements we need guarantors to meet for us to be able to approve the application. You need to be a full-time mainland UK resident, be over the age of 25, and earn at least three times the tenant’s share of the rent after tax and deductions. All of your information is stored securely, in line with GDPR.
Please contact the Property Management team if you have any questions at all.
How long do I have to complete the application process?
We give all tenants 15 days to complete the paperwork process and pay any outstanding funds. If you are looking to move in sooner than this, we can make this timeframe shorter. Please be aware we will not be able to allow you to move in until this process is complete.
What does the paperwork process consist of?
Click here to view our guide to completing your paperwork.
How do I pay my rent?
Included in your contract is your rent schedule. A standing order is an instruction to your bank to make regular, fixed payments to an organisation or person. We can accept a screenshot as confirmation that this has been set-up if you are using online banking. Alternatively, a scan or clear picture of the confirmation the bank will give you in-branch will work. Just email this to admin@coapt.co.uk
Do I have to provide a guarantor?
If you are in full time employment, your income is 3x your rent, and pass your credit check + references you do not need to provide a guarantor.
You will be asked to provide a UK homeowner as a guarantor if:
Your annual earnings are less than 3 times your share of the rent.
You have not been in continuous full time employment for the last 12 months.
You are on a temporary employment contract/in a probationary period or have zero hours contract.
You are unable to provide a satisfactory credit check and/or rental reference.
Who is my deposit registered with?
Your deposit will be registered with MyDeposits within 30 days of payment, each tenant will be sent their deposit certificate and some prescribed information about the scheme. If you need any further information please contact our Finance team at finance@coapt.co.uk
If your landlord manages your property and you have paid your deposit directly to them, your landlord will register your deposit with one of the three deposit protection schemes and will send you the details within 30 days of payment.
