For myself,... since I have commercial properties, I will chk the background of the tenant or company wishing to rent my place. The Tenant Qualification process is very important, be it renting out a residential, commercial or industrial property.

You must ensure you have sufficient rental deposit to recover your property to the original condition upon the moving-out of the tenant.

You collect the electricity bill deposit to safeguard against non-payment of electricity bills, and this is similar to the water payment deposit.

You have rental deposit with you, normally two months period. If the tenant start to delay for the first month, you have to start chasing already.

A lot of the skills as a Landlord comes from experience, especially in selection of tenants too.

Have all the agreements in-place, collect all the deposits, then,... TRY !

You may experience some hard times for the first tenant, then you will learn how to 'kick out the tenant' if he is not good. You will be able to select and to manage better for the second tenant onwards,.... Never start, never know,...

One tip I always provide : Never rent to a lawyer.