If you are looking to give your property on rent but don’t have much information about it, then there are some certain things you should look for. First of all it is essential to get all the information about the paying guests before giving them the keys of property. The all process of getting information about them should be under legal process and ask for police whether they have any criminal record or not, as you are cleared and ready to give the keys the most important work, which should be done is to ready an agreement for tenancy with including all the information and rules and regulation about the lease. The agreement should contain the all things that relates to your property. The lease should not exceed the limit of 3 years; you can make a contract more than it.
It is not necessary to get a written agreement because the procedure of agreement can be done verbally, but in future any problem strikes between the relation of tenant and landlord and someone have registered it in court you will probably need for the written agreement to prove the truth because verbal agreements are usually very difficult to prove. So it is always ideal to get an agreement in written. When taking the agreement in written the things you should mention in it are time period of tenancy, rent, date on which rent should be paid, date of the tenancy commenced.
If you think that it is done now then you have be more patient as it is not a joke to making a contract one mistake and tenant can take advantage of it, or if they are not living as you wanted the contract will help you to do so, as they are bound to contract not to you. So you have to mention all the things you want to get from the tenant, such as restrictions about use of property, details of additional service charges and bills and many more.
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