When and how to reject an applicant?
Hi guys,
I'm new to Real Estate investing and looking for my first Sandwich Lease Option deal. I know that for any applicant that applies, if rejected, I must send/give them a written statement letting them know why, so my first question is, what qualifies them as an actual "applicant"? For example, if someone just calls me up and I ask them a few questions about their income, what they're looking for, etc? Does that qualify them? or is it only if they fill out my "applicant form"?
And secondly, in a case for example, where I have 2 applicants, that both are equally qualified financially, both met all of my written rental standards, etc; how do I choose out of the 2 and what would I tell the one I "rejected"? I don't think it'd be professional to say "I had a better gut feeling for the other applicant", so how would I go about this?
Thanks for your answers and help in advance!
Oscar Macal