Carol Carrier never thought she'd become a landlord.

But when the real estate market tanked and her two sons couldn't sell the condominium they'd bought as an investment on Harbour Island, they turned to Mom. They wanted her to help them rent the one-bedroom unit until the market improved.

"I was very apprehensive," Carrier said. "I kept thinking, 'What if I put someone in there and they do some damage?'"

That's a question being asked by hundreds of Bay area homeowners who, like Carrier, have become accidental landlords, thrust into the rental world out of necessity.

As home values continue to plunge, a growing number of homeowners are choosing to rent their homes instead of selling for a loss now. Others become landlords because of a job change that requires them to move before they can sell.

Renting is an option for those stuck in a home they can't afford and those who want to move up to a bigger house but can't sell the home they have.

Carrier ended up trying several unsuccessful methods to rent her sons' condo before she found tenants. She's now focusing on renting to business people in town for short periods. After renting to several tenants, she said, she's starting to feel like a seasoned landlord.

So, if you're thinking about renting out your home, where do you start?

We turned to three real estate experts for advice.

Eric and Kimberly Smith are co-owners of Corporate Housing By Owner, a Web site-based business that advertises homes for rent. That's where Carrier lists her condo.

Danielle Babb is a real estate agent and author of four real estate books.

All three say more regular Joes are becoming landlords.

•First off, they say, homeowners have to make sure they're emotionally ready to rent out the home. If the thought of a stranger in your shower makes you cringe, this may not be for you.

"The tenant may not take care of your flower beds," Babb said. "And you can't go to the house whenever you want."

•List your expenses for the home and determine what costs you'll chip in for the tenant, such as water and cable. Research what other homes like yours cost to rent in your area. Will you be able to cover your expenses and make a profit?

"For some, even if you have a shortfall, it's worth it because the home may appreciate over the next five years," Babb said.

•If you're out of state, make sure you have someone local to care for the home. That could be a property manager, or even your aunt, said Kimberly Smith. Some choose a manager who can take care of day-to-day issues and check on the property. Others cut costs by handling maintenance themselves, or having a handyman on call.

•Get your homeowners insurance up-to-date. Call your company and let them know you're renting the home. If you don't and something happens, they might not cover the damages. Some landlords cut corners by dropping the insurance, the Smiths said, but in most cases, it would cost just a few hundred dollars more a year to update the policy.

•Check out perspective tenants, but be careful not to discriminate. Kimberly Smith recommends to either run a credit check on everyone or no one. This will avoid some discrimination complaints. There are online companies, such as The Landlord Protection Agency, www.thelpa.com, and TransUnion's Credit Retriever, where landlords can pay a small fee to run a credit check. You'll need written permission from the perspective tenant.

Both Babb and the Smiths say that landlords should be more lenient now about credit problems. The nation's economic downturn has left some responsible people with blemished credit reports.

"They still may be good, paying tenants," Babb said.

•Beware of what Babb calls, "professional tenants." These folks may know rental laws better than you and could trick you into giving them free rent. For example, Babb said, some will miss the rent payment, but offer to pay you $100 - just before you're set to evict them. They promise to pay the balance next month and get caught up on the rent. What they're really doing is resetting the eviction clock. If you cash the check, you have to wait another month to evict them, Babb said. A good policy, she said, is to not accept partial payments.

One red flag, Babb said, is a tenant who has moved every six months or so.

•One way to protect yourself, Kimberly Smith said, is to accept rent payments by credit card. Set up an account with an online service, such as PayPal. The credit card company will stand behind the payment in cases of fraud, Smith said.

•Before you hand the keys over, make sure routine maintenance is up-to-date. For example, change air filters, make sure maintenance and cleaning of appliances, such as the washing machine, dryer and refrigerator are done.

•Make sure the lease you use is approved for Florida. There are hundreds of lease forms available on the Internet. Check with the Florida Department of Real Estate to make sure your lease is legal. Also, check with your local tax office on how much lodging tax you should charge.

•Get on housing lists. Call local medical facilities or other employment centers that bring in people for jobs. For example, nurses sometimes stay in an area on short-term assignments and rent homes or condos while they're there. Also, corporations sometimes prefer renting homes for employees on assignment instead of putting them up in a hotel, which can be more costly.

Bottom line: Being a landlord is daunting but can help homeowners keep paying the mortgage if selling isn't an option.

For Carrier, it's even been fun. "I've learned so much and met so many people," she said.

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