How do I let applicants down, sincerely and professionally?

[Skyler Walker]

I have just purchased my second investment property and fortunately had a slew of applicants.  I had no issue sending correspondence to those who did not put applications in however I am having writers block when considering those who gave me money for the screening process and genuinely hoped to get good news.

I know this business takes thick skin, I don't have a problem delivering bad news.  This is relatively easy in terms of emotion, my issue is "what" to say.  I am really trying to consider everything that I do as a foundation for the future.  I want to conduct my business as close as possible to what it will be in 5 or 10 years so I put a lot of consideration in details like this one.  

Here is what I have told those who were interested but did not have the chance or chose not to put in an application yet:

"Hello there, we just found a renter for our home. Thank you for your interest and I apologize for any inconvenience!"

Any advice is great, thanks!

[Mike McCarthy]

I respond simply:

“Thanks xxx for your interest and application. Unfortunately, we have decided to go with another applicant. Good luck with your search!”

If their criteria is significantly worse, I’ll add ‘a more qualified candidate’, but I’ve decided to keep it typically generic.

I also have stopped having all applicants pay for the background/credit check. I have them apply and skip that section in Cozy, and tell them if it fits for both of us, we’ll ask for that. It adds an extra day into the process, but I now don’t feel bad rejecting good applicants since they didn’t pay for it. I use the checks as a verification of everything they said - I’ve already decided on them (as long as the checks come back clean)

I do realize that I’m renting to B/A class tenants, so your mileage may vary if you’re in the B-/C range.