Our Most Frequently Asked Questions
How much is the Application Fee?
Once you have found your home, a $20.00 non-refundable fee is required on each adult resident. If an Applicant's legal status allows ThirdEdge to retrieve one combined credit report on 2 applicants, then 1 application fee is permitted.
This fee is for the administrative costs of processing your application & retrieving credit bureau information.
If no homes are available for you now, you may get "pre-approved" by submitting a completed application and fee along with details of the home you seek.
Once approved, you will be first in line on the next available home that fits your guidelines.
(Many homes never make the available list due to this procedure)
If you are "pre-approved" and you find another home BEFORE a ThirdEdge Home becomes available, your application fee will be refunded. We want you to come back to ThirdEdge and we are not in the business to collect application fees.
There are several ways to get an application -- Call and have one faxed or emailed to you, or pick one up at an available home.
Applications must be turned in person accompanied with a valid photo id.
How much is Security Deposit?
Single Family Homes:
determined by the following formula --
--Security Deposit is equalivalent to one month's rent.
have varying Security Deposit requirements.
Refer to the information on the apartment listing for specific dollar amount.
DEPOSIT TO HOLD with Application
Can I put a "DEPOSIT to HOLD" with my Application?
DEPOSIT TO HOLD WITH YOUR APPLICATION
Providing their are no approved application pending, You may put a deposit to hold on a home when you submit your application.
An amount equalivalent to a Security Deposit is needed for a DEPOSIT TO HOLD. Once approved, your Deposit to Hold money will be used for funds needed to complete the rental agreement process.
If you are approved and decide against renting the home, you will forfeit the DEPOSIT TO HOLD money.
If you are not approved, your DEPOSIT to Hold money will be returned to you withnin 30 days.
How do I qualify?
We are happy and pleased that you are considering a home with ThirdEdge. We are very proud of our homes and believe you will be too. Our requirement standards for qualifying to rent a home are simple and fair.
No Credit or Bad Credit will NOT prevent You from renting a ThirdEdge Home.
- Your gross monthly income must equal approximately three times the monthly rent of your home.
- A favorable credit history.
- Be employed or furnish acceptable proof of required income.
- Good references from previous Landlords.
- Occupant limits of 2 persons per bedroom.
Compensating factors to qualify can be:
- additional deposit
- pre-paid rent
for the purpose of helping applicants qualify who do not meet the initial qualifying standards.
We look forward to working with you. ThirdEdge is committed to provide equal professional service without regard to race, color, religion, sex, handicap, familial status, or national origin of any prospective client or customer.
If you have questions, please call.
How long does it take?
HOMES "READY NOW"
- take priority over "expected available" soon.
- We try to complete your application within 24 hours on business days.
- Sometimes processing takes longer due to items beyond our control.
- Such things as verifying your rental history sometimes requires written or faxed requests and former Landlords do not always make You their top priority; however, we are successful at processing your application within 24hrs in most cases.
IMPORTANT: Once approved, You have 24hrs to properly complete your rental agreement or ThirdEdge may move on to the next application for this property. We apologize for this 24 hour rule; but, this prevents more problems than it causes.
For example, imagine you want the home on 123 Main Street and you learned that an approved applicant is in front of you. You know that they have 24 hours from the time they are approved before they disqualify their own application for not showing up, and now you can rent the home you wanted. How long would you want to wait? Each day delayed is also another day of lost rent. Although this policy seems strict, it really does prevent problems instead of causing problems.
HOMES "EXPECTED AVAILABLE SOON"
- these applications are processed in a timely manner, usually within 3 days.
- Sometimes processing takes longer due to items beyond our control.
- Such things as verifying your rental history sometimes requires written or faxed requests and former Landlords do not always make You their top priority; however, we are successful at processing your application within 3 business days in most cases.
Showing the Home
How do I see the inside of the Home?
READY NOW HOMES
First, "ride by" the home and see the outside and get a feel for the neighborhood and surrounding amenities such as schools, shopping, parks, etc. Make sure the location, style, and price of the home fits your needs.
Second, call our office to schedule a showing.
NOTE: if service people are working on the home, you may view the home providing they say it is safe to do so. Please do not ask the service people questions regarding their job, work to be done, or details involved in the renting the home. The service people are there to perform their assigned duties and are not involved in the process of renting homes.
Animals may be allowed
Animals may be allowed.
- Safe and legal animals that do not damage or reduce value of property may be allowed with an animal deposit.
- As noted recently in the national news, a jury convicted a couple of manslaughter from the actions of their animals they referred to as "pets".
- Locally, a child was killed by animals contained in a 6 foot tall fenced yard. There is a major push to protect people, especially children, from potentially dangerous animals.
Insurance is being cancelled WITHOUT NOTICE upon discovery of certain animals.
Again, animals that are your pets must be:
- Some insurance companies have begun using a list of dangerous animals compiled by the National Center for Disease Control in Atlanta, Georgia. If your animal is on the list, it could pose problems in the near future.
- Our animal policy is subject to change without notice as a result of changes from our insurance carriers.
- Animals not in violation of any local ordinance or insurance regulation are usually accepted providing an "animal deposit" has been paid and the monthly rent includes $25.00 for the animal.
- ThirdEdge values animals and pets.
- allowed by all local laws, regulations,etc.
- not pose a threat, hazard, or nuisance to others or property
- allowed by insurance company
If your animal complies with these guidelines, your pet will be accepted. The only exception would a property owner who specifically states in their management contract that no animals are allowed.
(FYI, at this time, we have no owners that forbid animals)
ThirdEdge values animals, pets, people and property!
"Approved App Pending"
What does Approved App Pending mean?
A Home is labeled "approved application pending".
- ThirdEdge will label a home "approved application pending" upon completing the application process of a qualified applicant for this home.
- This status does not state that the home is rented, it simply means a qualified application has been received and they have not completed their rental agreement to begin renting the home.
- Occassionally a person submits applications for homes all over Butler County at the same time (not all ThirdEdge Homes) and unfortunately sometimes they do not answer the phone or return messages. Although we can not explain their actions, we will not remove a property from our available homes list until the home is actually rented.
How long can we hold a home for a qualified applicant?
- What about the people like yourself who want to rent this home --- you are asking -- how long is ThirdEdge going to allow an application to tie up this home?
- THEREFORE, Once approved, an applicant has 24 hours to complete the rental agreement producing all funds needed.
- Unfortunately, some folks promise the moon and never deliver. Their actions resulted in the creation of the 24 hour rule. Due to the actions of some, we were required to develop a policy that is fair to all applicants.
- Now, imagine having your application "behind" these folks. You are hoping that they fall apart so you can rent it.
- How long would you want to wait?
- Hopefully, this will help you understand this policy.
If the Home you like is labeled "approved app pending", PLEASE, fill out an application.
If the applicant ahead of you falls apart, the next application will be processed - make sure it is YOURs.
- If your application is "behind" or a back-up to the approved app pending, and the status of the home changes to "rented", you will be notified of this action and will be given the opportunity of returning your application fee or hold for another home.
If YOU WAIT to see what happens to this home, YOU might lose.
Somebody else can submit a back up application in front of you.
ThirdEdge wants to rent homes quickly.
Rent with Option to Buy
What is Option to Buy?
An "Option to Buy" or "Rent to Own" is like putting "dibbs" on a home.
- You can purchase an Option to Buy at the time you complete your rental agreement.
- Option to Buy fees start at $1500 depending on the purchase price of the home. A higher priced home has a larger Option Fee.
- Once you purchase the Option to Buy, your purchase price is locked in for one year and your option also prevents the sale of your home to anyone else.
With ThirdEdge's Rent with Option to Buy Program, you can shop for a home just like a regular home buyer. While you are living in your home and making your payments on time each month, you are adding good scores to your credit report and rating. (ThirdEdge is a member of Trans Union and National Tenant Network and reports payment history)
Some financial institutions may actually allow you to refinance your home. Call today for more information on this program to homeownership.
Click here for more info on the Option Program
Do You Rent to Section 8?
The Section 8 program is a federal subsidized housing program. As we understand it, local agencies can be approved to operate a federally approved Section 8 program. There could be several agencies locally that participate in this program.
ThirdEdge participates with the BMHA Section 8 program. This is the Butler Metropolitan Housing Authority located at 4110 Hamilton Middletown Rd, Hamilton OH. If you have attended your briefing, received your white packet, you may begin your search for a home located in BUTLER COUNTY. Homes located outside of Butler County, OH will not be approved with BMHA.
The Section 8 program is based on NUMBER OF BEDROOMS.
- Your Housing Choice Voucher is based upon number of bedrooms.
- The dollar amount listed on your voucher is for rent that includes ALL UTILITIES furnished with rent.
- Almost all single family homes for rent do NOT include utilities with the rent.
When phoning the office, YOU will be asked the following:
- Are You on BMHA program?
- Have you attended your briefing and do you have your white packet?
- How many bedrooms on your Housing Choice Voucher?
PLEASE DO NOT SHOP FOR A HOME BY THE DOLLAR AMOUNT OF YOUR VOUCHER.
USE THE NUMBER OF BEDROOMS
Providing BMHA agrees to the rent amount, many homes are available to the BMHA Section 8 program. Unfortunately, there are many homes with rent that exceeds the maximum allowed by the Section 8 program; therefore, preventing participating families from pursuing these homes.
Can ThirdEdge finance my home purchase?
ThirdEdge is not in the business of making loans for home purchases.
ThirdEdge is in the business of keeping good customers for a long time.
On occassion, we have assisted many established ThirdEdge customers with the purchase of their home, especially those customers with Option to Buy. Sometimes the Buyer may be short on some down payment cash needed to secure a better interest rate on a home loan, and in these type cases, ThirdEdge has financed part of their down payment money.
In a few situations where an established customer has trouble getting a decent interest rate on a home loan due to some glitches on their credit report; but, they have maintained an excellent payment history over 24 months or more with ThirdEdge, we have financed the purchase of their home using "Contract for Deed" and Owner Financing purchase plan.
If you feel like you can not buy a home right now, ThirdEdge might be your answer. Call today.
My Question not Here
My Question is not on your List of FAQ?
If you have a question not listed above, click here to ask us any question and we will respond promptly. You may call us anytime at (513) 893-3343 and we will be glad to help.
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