How do you handle when you have multiple ppl show interest in a unit. Example person A, B, C, D.... in the order they showed interest, like literally the same day.

Do you process A, then wait for that to fall thru and then move on to the next person, etcetera, etcetera. Or do you process all simultaneous and see who flushes out first.

I've been doing A 1st, and if they fall thru, move on.. but then I've been losing out on the subsequent ones ( "while the iron is hot" ). I've been trying to be understanding of costs. I use a verification service that does all the background,income, etc checks. Its like $45. I've been trying to avoid people paying for that and losing out. But I'm thinking of changing my motive of operations.

Usually i've been going thru the verification and then issuing the agreement and giving them to provide 1st/last months within 48hrs.

I have every prospective contact sent an email with the application and animal policy in PDF and links to the website and a link to the pre-qualification questions in a google form and if they want to view the house. If they get past the questions, then the can book time on my calendar to see the property.

I don't worry about the applications until I have my application fee and a complete application. At least 50% say "I'll complete the application and get it to you tomorrow" They never do.

The first thing I do is run a credit check. IF it is a single family house and it is below 650 they get a disqualification letter and email. Next is money. They need to net 3 x the rent. From their pay stubs, do they make 3x? From there it is calling past landlords, friends, work etc.

I work all applications at the same time if I have more than one. Some go quicker than others. I offer it to the 1st person that meets all the criteria. They have 48 hours to sign a lease or I am on to the next one.

Everyone who applies will get a letter and email telling them why they were denied - even if it is just "another application was accepted and lease signed before yours was completed".

I used to hate wasting people's money with the credit check but decided it was the quickest way to find out if they were hardy enough to move forward in the application process.

Last house I had 4 in a row that made plenty of money but had a credit score of less than 650. I am just not going to take the chance that you are so bad with your money that you don't have a good credit score. They all have a sob story. I got a divorce and my ex ran off with the bank account. I hit a deer and the insurance didn't pay off the car loan. Whatever. Not my problem.

Showing up first is not the main criteria, so everyone gets an application link, I start the process as they come in (fee, rental history requests, background check, examine app...)

Frankly, we have *never* had 2, let alone 3 or 4, good apps at once that required me to flip a coin or anything else.

If your place is absolutely truly that good, why did you wait for the place to become empty to start showing it?

Have you figured out that true cost of that vacancy on a per day basis? Perhaps providing a valid financial incentive to the out going residents would yield better results.

I still usually get multiple applicants on the day of/after an open house which I process as a batch. I don't process in the order received. Why would I take a less qualified tenant over one who showed up early. The key is to not be discriminatory in establishing who is most qualified. But at the same time, don't hold the application so long without processing that the applicant moves on.

Some of my criteria is pass/fail (such as 6 months on current job), if they fail these then they are ejected. Then I assign points. For instance, someone who has been on the same job for 7 months gets 1 point, someone on the same job for 3 years gets 2 points. Same with income and other criteria. I then process the applicants based on total points scored. I feel confident that I could beat any discrimination suit with this documentation.

I start them all at the same time. The application that I can get finished first, if they are well qualified, they are contacted and offered the house. If I get two or more that pass the screening, I offer the house to the best qualified.

GLR,

One at a time would lose the great one while I deal with the deadbeats.

We work them in a batch as they come in. Processing them is hit and miss as we wait for LLs to reply, verify employment, etc. That data never comes in at once.

Bringing in apps, processing, then arranging new leases is a cumbersome process that runs at the applicant's speed.

We start processing every app as they come in ONCE THEY PAY the fee. They don't all hit at once and don't pay at once, and don't provide paystubs, etc at once.

Most bounce on income within minutes.

Many of the ones who can afford bounce due to court eviction or criminal records, just a few more minutes.

The funnel narrows quickly!

I have 5 homes on Zillow and brought in 24 COMPLETE apps over the week. (we only process OUR online app, use ZIllow apps for reference)

Only 10 paid our minimal $25 fee for 2 adults.

2 looked promising.

We text them the move in costs and guage interest. We set up my 2 Minute In Home Visit appointment. She had no money and ghosted us about the visit, which eliminated 1 goodun.

Rented to the 1 who had move in money, clean visit, and was ready.

We average 40-50 PAID applications to find 1-2 good ones, 3-4 MARGINAL, then rent to one because the other good one is not ready or found a different home.

As the others said... process them all at once but keep them going. Just because you have applications in... don't stop showing or taking applications.

Don't "delay" on things and definitely don't "hang your hat" on a prospect because you "feel or think" they are "the best" and definitely don't do it because they were "first" there to hand in an application.

Recognize that just as you have multiple applicants, they may be looking at multiple properties. I try to process applications as quickly as possible, so they choose ME instead of someone else.