Be sure to check the credit history for each person - that would be the credit of EVERYONE who will live there over the age of 18. I used National Tenant Network. If they always pay bills on time and have small (or no) animals, they are dream tenants - charge a regular deposit. If they have some credit issues and have medium size animals - charge double on the deposit. If they are purple martians with horrific credit and have wild beasts for animals, charge 3 to 5 times deposit. If they are your friends (or not), don't cut them any slack with regard to late rent payments. Start eviction proceedings if the rent is late after 3 days and kindly tell them at the beginning that you will do this with NO exceptions. Fix everything that needs to be fixed with the property and take pictures of everything before they move in. Detail everything in the lease (get a good example lease to go by and/or ask a local seasoned landlord for help). Have fun and good luck.
