how to word REJECTION letter??

[Mary Joe]

I am in the process of screening my next tenant based on application forms and proof of funds (bank statements) submitted. I am not charging them a fee, and I have NOT started credit/background check yet.

I understand that if I have generated credit reports on the applicants, then I will need to comply with FCRA requirement and issue Adverse Action letter to the applicant. But I haven't gotten that far yet.

How do I politely reject some of the applicants?

Can I simply say I have decided to go with a more qualified applicant and just leave it like that? Or do i have to provide a reason?

Some of them don't even have enough money on their bank statements for 1st month rent, last month and security deposit, do I need to go into details why I am not processing their application?

Any advice would be appreciated.