I came across an article on Bankrate.com that every residential real estate landlord or investor should read titled “Smart Landlords Do Serious Due Diligence.”  The article suggests  residential landlords should always take these 6 steps before leasing or renting residential real estate:

1. Check References
2. Buy Enough Insurance
3. Just say “No” to Form Leases
4. Heed Environmental Matters
5. Consider Hiring a Property Manager
6. Demand a Hefty Security Deposit

I particularly agree with the advice concerning the 3rd section about form leases:  Form leases work until there’s a problem.