If you find yourself with multiple qualified applicants to choose from, there are several things you can do to make your final decision. The simplest thing you could do is use a first-come, first-serve approach. If that is not a determining factor, conduct an additional evaluation of each applicant by conducting follow-up discussions to assess factors like their compatibility with property rules, communication skills, or their long-term rental plans. Alternatively, you may want to use factors like who has a higher income, a sooner move-in date, a longer rental history, or better references to inform your decision.
Informing applicants if they’ve been accepted or denied
Once you make a decision about which applicant to accept or reject, it is time to write letters to inform the applicants. In your letter to them, document the reasons behind your choice to protect yourself from the threat of discrimination lawsuits or tenant conflicts. To make sure you avoid legal trouble, familiarize yourself with the Fair Housing Laws along with local and state tenant laws.
In your letter to the applicant, include a brief description of how you came to a decision based on your predetermined criteria. For example, if a tenant failed to complete an application or has a lower credit score than your expectations, let them know that is the reason you rejected them. Likewise, when you accept a tenant, briefly explain why you chose them.