I want to rent out my house as a landlord, but want to minimize the chances of being sued, as I understand its not hard for a renter to blame an injury on their landlord. For example, if a renter falls over a step, he might try to sue me for not having having my steps the exact height as required by current construction codes, when in reality he's just a klutz.
Is there some kind of "caveat emptor" clause I can put in a rental agreement, that protects me from potential lawsuits like this? I'd like to put together the most exhaustive ironclad contract I can. My friend told me I should incorporate as an LLC but I don't think thats cost effective for a single rental property, is it?