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I have a new Tenant who wants to put a Trampoline in the yard for her kids. Would this be a liability on the Owner if someone  gets hurt? How should this be handled. How should I write this up in the Lease?

I would create a form and make sure you are not held liable for any injuries. However, I do not believe it is your liability as it is the tenant who brought it to the property.
I would have the tenants acquire a renters insurance policy that includes liability coverage.. you will be safe as a landlord.
You should check with your Landlord home owners insurance policy. I almost bought a trampoline once for my kids and my homeowners insurance agent said they would drop me if they found out I bought one. It is your liability if you allow it on your property, it may not be as simple as writing a letter. Be careful! I would just say NO!
I don't know about your state, but in Montana, our insurance on our rentals will not cover anything to do with trampolines, so we won't allow them in our yards.  I would check with your insurance company.
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