For our latest rental we are having two open houses to show the property. Any tips on how to handle multiple applicants and how to legally choose the most qualified?
Leslie I did an open house in one of my homes and had 4 applicants within an hour. I simply processed them in the order they came in and have great tenants. Good luck.
@Leslie Wood Process them in the order in which they come. Your realtor (don't know if you're one or are using one) should be able to guide you. Make sure you have an airtight contract which clearly go through everything and you uniformly apply the rules to all applicants.
It's a personal preference. I know a Property Manager with over 800 rentals under management and he collects and processes multiple applications and then chooses the best one.
I select the first applicant approved because it's fair and avoids any claims of a Fair Housing violation.
Figure out what you're comfortable with and can justify.
for one of my homes we did an open house format with a rental sign out front along with the craigslist add and had over a dozen views in an hour or so and at least 4 qualifying applicants but recently I tried the same technique with a unit in a three family home and did not post a sign out front and he'd no-one show up and Im still trying.
The approved applicant were weeded out based on arrival and income.