| Make sure you have a proper contract.
Take rent by direct debit, saves you going to bank and finding out cheque has bounced 1 week later.
Your insurance co needs to know the property is rented out as does your mortgage company if you have one.
rental co or do yerself? I personally would do it your self if you have time, but make sure you take refs and possibly credit check tenants.
legislation I need to pay attention to? You need to get a landlords certificate for any gas boilers,cookers that are in the property.
best if furnished or un furnished? I think it is better for tax purposes if furnished but I prefere unfurnished without white goods, Less hassle if appliances go wrong.
pitfalls? Can be a pain in the arse time wise and financialy if you have to evict, generally dont expect tenants to look after your house furniture like you do.
hope this is of some help | 
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