Anybody here involved in this type of business? I thinking of 4-unit, identical, side-by-side apartments.

What are the things to be done to insure regular payment from the tenants? Are there contracts to be signed between tenants and landowner? If yes, what are the duration of the contracts (six months? one year?)? What about the maintenance of the units? How much does it usually cost?

If any of you guys have other relevant ideas/ advices regarding this, it will highly appreciated :D