Listing one unit and many people want to apply

Palatine, IL · Member since 2016 · 78 posts · 16 votes

Maybe a nice conundrum to have, I have this one unit listed and showed to 12 persons in 2 days and many more scheduled over the next 1 week. I have received inquiries from 4 asking to apply. Should I send the application to all 4 and then pick one and say no to the others or process for the one who will be moving in the earliest?

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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
4y
Quote from @Sam P.:

Maybe a nice conundrum to have, I have this one unit listed and showed to 12 persons in 2 days and many more scheduled over the next 1 week. I have received inquiries from 4 asking to apply. Should I send the application to all 4 and then pick one and say no to the others or process for the one who will be moving in the earliest?
This typically happens for two reasons:

1. Property is priced too low 2. No pre-screening in your marketing
if priced and marketed properly, you'll get far fewer applications, but the ones you get will be serious and highly likely to qualify.
Pre-screening includess posting some of your automatic disqualifiers (no pets or no Section 8) and some self-screening tips (all adults must apply, pass a full credit/criminal check, and show verifiable income of at least 3x the rent). Go to my website and look at my rental ads for examples. These short statements will get rid of a lot of people that aren't serious or that are looking to take advantage of an amateur Landlord.
The DIY Landlord Book4.7248 Reviews
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Paul De Luca
Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
4y
@Sam P.

Assuming you have prescreened each of the people looking to apply, you should send the application to all 4 of the people interested. I would only let people apply if they've seen the unit though.

Consider setting a deadline to submit all applications so then you can review all of the applications at once. And the person offering to move in the soonest does not necessarily make them the best renter. In fact, it's a usually big red flag when someone has an aggressive move in date like "I need to move in tomorrow" or "ASAP".
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Sam P.
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Palatine, IL · Member since 2016 · 78 posts · 16 votes
4y
Thanks for your reply. Interestingly the person who called me repeatedly for applying stopped responding once I send him the application. Right now, I think I will wait and show the place to more persons before making a decision.
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