Rental Application Process for multiple renters

[Jacob Hafer]

Good morning! I am first time investor and am currently going through the rental application/property showing process. My question is that with the Rental Application, there is a $50 fee paid by the renters. Is this a sunk cost for possible renters or what is the appropriate approach? Do you have every potential renter complete this or only select one renter based off the pre-screening process?

Thanks in advance!

[Travis Bohling]

We continue accepting and processing applications until we have a signed lease and deposit. We aim to find the best applicant, which isn't always the first.