Hold potential applicants after accepting someone else.

[Zach Adams]

Hi all,

I am currently going through my first time finding my own tenants for my duplex. Currently I have two people applying and I have a couple who has been sent an application after requesting one. 

I use RentRedi software for this and know that the couple can apply I cancel the request. My question is: if I accept someone to rent when do I stop allowing other applicants? Is this after I sign a lease, get the drop is it to hold, something else? 

In the case of multiple applicants I accept the most qualified based on my requirements which I send to the applicants. This means that if someone else applied and is deemed more qualified they may put me in a bad spot. 

Wondering the above and if I should just notify other prospective applicants to avoid them paying to apply and having credit pulled? Thanks 

[Chris Seveney]

Quote from @Zach Adams:

Hi all,

I am currently going through my first time finding my own tenants for my duplex. Currently I have two people applying and I have a couple who has been sent an application after requesting one. 

I use RentRedi software for this and know that the couple can apply I cancel the request. My question is: if I accept someone to rent when do I stop allowing other applicants? Is this after I sign a lease, get the drop is it to hold, something else? 

In the case of multiple applicants I accept the most qualified based on my requirements which I send to the applicants. This means that if someone else applied and is deemed more qualified they may put me in a bad spot. 

Wondering the above and if I should just notify other prospective applicants to avoid them paying to apply and having credit pulled? Thanks 

 I do not stop taking applicants until lease is signed and deposit is provided. Have seen many times someone say they will take the unit but never sign the lease or sign the lease and not pay deposit - also the "pay deposit day move in" does not work - need it to secure the property for them.