1. Understand the Rental Laws: Familiarize yourself with the relevant rental laws in Chennai. The main legislation governing rental properties in Chennai is the Tamil Nadu Regulation of Rights and Responsibilities of Landlords and Tenants Act, 2017. Understand the rights and obligations of both landlords and tenants under the law.

2. Screen Tenants: Before renting out your property, thoroughly screen potential tenants. Conduct background checks, verify their employment and income, and request references from previous landlords. This helps ensure you find reliable and trustworthy tenants.

3. Prepare a Rental Agreement: Draft a comprehensive rental agreement that outlines the terms and conditions of the tenancy. Include details such as rent amount, payment due date, security deposit, maintenance responsibilities, and any other rules or restrictions you want to impose. It's advisable to consult a legal professional to ensure your rental agreement complies with local laws.

4. Set a Reasonable Rent: Determine a fair and competitive rent for your property. Research the rental market in Chennai to understand prevailing rental rates for similar properties in the area. Be mindful of rent control laws, if applicable, which may restrict your ability to increase rent beyond a certain limit.

5. Collect a Security Deposit: Chennai rental laws allow landlords to collect a security deposit from tenants. The deposit amount is typically equivalent to a few months' rent and acts as a security against any damages or unpaid rent. Clearly define the terms for refunding the deposit at the end of the tenancy in the rental agreement.

6. Maintain the Property: As a landlord, you are responsible for maintaining the property in a habitable condition. Attend to repairs and maintenance promptly, ensuring that essential amenities such as plumbing, electrical systems, and sanitary facilities are in good working order. Regularly inspect the property to identify any maintenance issues that need attention.

7. Rent Collection and Documentation: Establish a clear rent collection process. Issue rent receipts to tenants for every payment received, stating the amount, date, and purpose of payment. Maintain accurate records of rent payments, security deposits, and any other financial transactions related to the tenancy.

8. Respect Tenant Privacy: While you have the right to inspect the property, ensure you respect your tenant's privacy. Provide reasonable notice before entering the premises, except in emergencies or when the tenant has given consent for immediate entry.

9. Handle Disputes Amicably: In the event of any conflicts or disputes with tenants, try to resolve them amicably through communication and negotiation. If necessary, seek legal advice or mediation services to settle disagreements in a fair and lawful manner.

10. Stay Informed: Keep yourself updated with any changes in rental laws and regulations in Chennai. Stay informed about your rights and responsibilities as a landlord to ensure compliance with the law.

Remember, this guide provides a general overview, and it's advisable to consult a legal professional for specific guidance tailored to your situation and to ensure compliance with the latest regulations in Chennai.