Should I request a deposit at the time of the application?

[Dragana Miljkovic]

First time landlord here. I received an application through Zillow. Can I request a deposit before accepting, and if so how much? My concern is that the prospective tenants will apply at multiple properties and I will have no assurance that they will actually sign a lease.

[Nathan Gesner]

Quote from @Dragana Miljkovic:

First time landlord here. I received an application through Zillow. Can I request a deposit before accepting, and if so how much? My concern is that the prospective tenants will apply at multiple properties and I will have no assurance that they will actually sign a lease.

People aren't going to pay a deposit before knowing they've been approved.

I process the application. Once they are approved, I offer them the rental and give them 24 hours to pay the deposit in full and sign the lease (they can sign the lease in advance of moving in). Once they sign the lease, the deposit will be forfeited if they change their mind. If they don't pay the deposit and sign the lease, I continue marketing and offer it to the next person.

There's more to it than that, but that's the basic process to ensure people aren't wasting too much of my time.