Leasing to someone can be risky. Make sure you charge enough rent, and that you get a good security deposit. Check local laws in your area to find out how much of a deposit you can collect. In some places it's no more than 1.5 times the rent. Other places allow for a larger amount. Check the person's credit, background, and references. Look for problems paying bills, broken lease agreements, and any past criminal history. Also talk to your insurance company. If you're renting/leasing your home, you can't just keep your standard homeowner's policy. You won't be covered if you have a claim. You need a landlord policy - and be aware that many of them don't cover damage done by a tenant, only other types of damage like break-ins, tornadoes, fire, etc. If you live in an area where there's an HOA or other governing entity, talk to them and make sure you can legally rent your home. Understand the requirements you have to meet, and get it all in writing. Have a real estate lawyer draw up the lease. Those precautions won't guarantee that you can avoid a problem, but they'll go a long way toward protecting you and your home.
