The tenant screening process can be stressful. You've already prepared the property and marketed it online to reach the widest audience that you can and, hopefully, bring in a good group of applicants to choose between. While a large pool of applicants increases your odds of finding the perfect fit for your property, it also brings in quite a few people that you will, eventually, have to deny or reject.
Pre-screening helps with this. There are a few things you can do for this. Let applicants know if you have certain credit score requirements, any pet policies, or if your property is non-smoking. Many landlords charge an application fee to cover the tenant screenings and this will weed out anyone that's 'just looking' and doesn't have a real interest in the property. They won't want to pay if they won't have a chance to live there.
These tips should help narrow down that pool to an even better group of applicants, but you'll likely still need to choose between them and then you'll need to deny the ones that you don't choose. Check your local laws carefully to see what you need to provide to a denied applicant and, if you're denying them due to something found in their credit check, you will need to provide them with a formal letter that will detail out which credit agency that you went through and how to contact them.
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