How to turn down prospective tenants?
Hello, I am about to close on a 4-unit property in a working class neighborhood. Three of the units are vacant, so this will be my first time marketing units and finding tenants to fill them.
I have done research on how to screen tenants and what to look out for, but I don't know how to turn someone down if I just don't "get a good feeling." I am happy to rent to anyone as long as they are respectful and pay their rent on time, but I have heard so many stories about nightmare tenants I really want to avoid this.
I do plan on running credit and background checks, but I just don't want to have to do this for every prospective tenant as this is expensive and time consuming. I'd prefer to only do this after checking references and overall having a good feeling about the tenant(s).
That being said, if someone inquires and I meet with them and decide it doesn't seem like it will be a good fit, how should I proceed? Do I not even give an application? Do I give them one and then send a reason for rejection? Any advice or experience with this?
Thank you!