I have an inherited property and the renter has been in there 7 years and I have never had a problem. Because the property is across the country she deducts any expenses from her monthly rent and sends me the receipts of the work done without notifying me. An easy policy to abuse but I only spend around 500-1000 a year in expenses.
I have a rental unit here where I live and the renters have been great here too. This is their 2nd year here. These are college kids so there is the adjustment of loud noise but otherwise I have no complaints.
I did purchase umbrella insurance and am looking into setting up an LLC for peace of mind reasons- but really I have never had a problem.
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