Renting out some of my land, how to set it up?

I have never rented land out before, and find myself with a slight financial need to continue to posess a slight excess of land that was too good an opportunity to miss.

I have a 900m block adjoining my main 2800m property and would like to rent it out for either residential and/or a low key shop usage, it is currently owned by my group of alts with the ajoining land, should I sell it to one alt then rent it seperately or create a new group and sell it to that for the tennants to join to have access. I'm not really worried if the tenants have access to my club (small private, low bling) or not.
It is roadside and I may rent out downstairs of my building as a shop eventually too. So would that be a problem if both were shops and were in the same group?

This block has pushed me into the next tier catagory to I am anxious to try rental to see if it is justifyable to buy more land and rent to my limit.

Any other tricks on what I should give permissions for etc for the tenants for my microlandbaron scheme ?

IMed you. I am a landlord with a fair bit of land and even more boredom for the next two days so if you want me to TP over for a chat go ahead.

Andrew