How do you handle multiple applications for the same rental property?

1 Set clear criteria

Before you advertise your property, you should have a clear set of criteria for screening potential tenants. These may include income, credit, rental history, references, pets, and any other factors that are relevant to your property and your market. You should also be familiar with the fair housing laws and avoid any discrimination based on race, color, religion, national origin, sex, disability, familial status, or any other protected class. Having clear criteria will help you evaluate the applications objectively and consistently, and avoid any legal issues.

2 Communicate with applicants

Once you receive the applications, you should communicate with the applicants promptly and professionally. Let them know that you have received their application, how long it will take to process it, and what documents or information they need to provide. You should also inform them that you have multiple applications for the same property, and that you will select the most qualified applicant based on your criteria. This will help you manage their expectations and avoid any misunderstandings or conflicts.

3 Verify the information

Before you make a decision, you should verify the information provided by the applicants. This may include checking their credit reports, contacting their employers, landlords, and references, and performing background checks. You should also ask for proof of income, such as pay stubs, bank statements, or tax returns. Verifying the information will help you avoid any fraud, misrepresentation, or risk of default.

4 Choose the best applicant

After you have verified the information, you should compare the applications and choose the best applicant based on your criteria. You should consider not only the financial qualifications, but also the suitability and compatibility of the applicant with your property and your existing tenants. For example, you may prefer a long-term tenant over a short-term one, or a tenant who has a stable job over one who has frequent changes. You should also trust your intuition and avoid any red flags, such as inconsistent or incomplete information, bad references, or negative attitude.

5 Notify the applicants

Once you have chosen the best applicant, you should notify them as soon as possible and offer them the rental agreement. You should also notify the other applicants and let them know that you have selected another applicant for the property. You should be polite and respectful, and thank them for their interest and application. You should also keep their applications on file for a reasonable period of time, in case the chosen applicant changes their mind or fails to sign the agreement.

6 Follow up with the chosen applicant

After you have notified the chosen applicant, you should follow up with them and make sure they sign the rental agreement and pay the deposit within the agreed time frame. You should also provide them with a move-in checklist, a copy of the house rules, and any other information they need to prepare for their move. You should also schedule a walk-through inspection with them before they move in, and document the condition of the property and the inventory of the fixtures and appliances. This will help you establish a good relationship with your new tenant and avoid any disputes or damages in the future.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?