SmartMove and/or Application Form?

[Sam Schlacter]

So after buying my first rental property just before the new year, I have people showing interest in the property. I am just about done cleaning the town house I purchased and the first "would be tenant" is coming to take a look. I am planning on using SmartMove website from Trans Union for the tenant screening. However, I am a little confused if I should also give the person paper form or not. This person is interested but is one month from renting and while I am not sure if I should rent out to her that far out, one option I have been thinking is asking her to put some deposit that would roll into the lease if she ends up renting but she would lose it if she decides not to rent it after committing to rent it.

With my plan on using SmartMove (and once she is approved and want to rent), should I just create a separate document that states that I am holding her initial deposit or should I ask her to sign the lease one month in advance? I don't want to put her off by asking to sign entire lease so early if that would make her think to keep waiting till the end as I would like to at least lock-in something. At the same time, I would want to make sure that I put something in place that discourages her from further shopping around if she is interested in renting my property, and hence thought the initial holding deposit of some money would be good where I can mention that it non refundable if she walks away or would roll into the monthly rent if she ends up renting.

Thoughts?

Thanks,
Sam