Rejecting an applicant when I don't have another one at all

[Sarah A.]

We have a house that is harder to rent than our others. It's very clean and in good repair and priced well for our market, but it's older and has some odd features and it's not in the best area. Plus it's a slower rental season right now. 

Anyway, I only have one applicant, and I don't want to rent to this person. It's a character issue; I have evidence she's lying about how much her boyfriend would be there. 

I just want to cut and run and wait for the right one. What can I do/say? Do I have to spend hours processing the application when I already know I don't want to rent to this person? 

This one-applicant-at-a-time scenario could happen a lot with this house, so we need a plan. Thanks in advance!