Precautions for tenants with bad credit

[Denny Mathews]

Hi ~

I have a tenant who is interested in renting my property.  Actually, it is a family of 4 (with 2 kids) plus the husband's mother.  The only problem is that the family has a poor credit of 500.  So far, they are among of the few tenants who are willing to pay the rent that I ask.  What precautions should I take before I rent to them?  I know that I should ask for a couple of months security deposit.  Is there anything else that I should do?

Thanks.