First off contact a real estate attorney that specializes in real estate law. If it seems to make sense contact your insurance agent. You might consider hiring a real estate agent that handles leases. They can walk you through the prospective tenant part, credit reports, credit checks and so on....

There is a lot of legality behind tenant landlord relationships, make sure you understand the law and seek the right professionals to help you.

Call an attorney & your insurance agent. Have lessee buy an insurance policy naming you as beneficiary for value of contents etc.
You can deduct the policy cost off the security deposit. It`s worth it. and relatively inexpensive.
Also, do a credit check. verify employment etc. All your work is done up-front. If all ok, you should enjoy collecting checks every month.


P.S. if you need the name an excellent real estate attorney in Peabody, email me. Otherwise , Good Luck!