Bidding wars among potential tenants?

[Amy Janota]

Hello all! I'm in the process of re-renting one of our SFRs, and have 3 separate (seemingly qualified, although obviously not yet fully screened) parties who would like to move forward with the application process.

How do you all handle choosing between interested tenants? In the past I've typically just gone with first-come-first-served, but we've also (once) generated a bidding war, which ended up being incredibly lucrative, but I felt a little yucky about it.

Tough problems to have, I know. Life in Austin. :)

Thanks for any thoughts!

-Amy