<prompt> Human: Im moving to a different city and am wanting to rent my old place out to a family friend. The situation actually arose on me pretty quickly, so I havent really been able to do much research. Im thinking about just using a standard lease agreement that I found through a simple Google search, but still pretty clueless about other aspects. Ex: Do I need commercial insurance policy? Any suggestions would really be helpful. ALSO this is in a rural community, so there are no properties to really compare to for price. I pay 600mo. on my mortgage... How much would be fair for rent?Thanks for the help, and spare me any negative feedback for being clueless.  <response>: Im a landlord here and I would be hard pressed to rent to a friend, a family member, or a friend of a friend. I find that having a relationship with a tenant makes it all too easy for them to have expectations that you will be ok if the rent is late. If you have to evict them, it creates bad blood. So, if you can find another renter, you might want to consider this or use your best judgement to determine if this person is at all a risk.Use a standard lease agreement, but also include addendums that cover things that are important to you. Who is to care for the lawn? What repairs is the tenant financially responsible for? Pets? Smoking? Mold or lead paint? Parking? Pests? Other rules? You can find forms or create them yourself and have them signed along with the lease.Charge enough for rent to cover your mortgage, taxes, and insurance, but to also set aside a hundred or two hundred dollars a month for potential repairs or issues such as a plumbing issue, AC repair, septic tank cleaning, etc. You should have a cushion for these, so that your tenant doesnt have to wait while you scrape together cash for the work to be done. 