The security deposit. Most landlords will require a deposit, which covers damage beyond normal wear and tear and any unpaid rent. Many states limit the amount you can collect, setting limits based on the monthly rent -- twice the monthly rent is common.

Pets. If you wish, you may prohibit pets, but not if the animal is a service or comfort animal needed by a disabled person. However, many landlords have found that allowing pets gives them a competitive edge in a tight market -- and pet owners may be extra conscientious when they know that there are limited rentals that will take them with their pets.

Terms to Include in Your Rental Listing

Write out the basic details you've decided on, including:

• rent
• size
• location
• lease length or month-to-month rental agreement
• special features
• how many tenants allowed
• whether pets are allowed
• phone number for more details
• date and time of any open house.

To stay out of legal hot water when you advertise, describe the rental unit accurately. Your ad should be easy to understand and scrupulously honest. And try to avoid abbreviations and real estate jargon.

Next you'll need to place the advertisement. For help, see How to Advertise Your Rental Property.