I have my students take home books after I conference with them. The students take them home in these clear folder.
I choose which side the book goes in. If the student needs more than one night of practice they keep at home. If they only need one night of practice I'll put the book in bring back to school. I also keep a reading log in the keep at home side. The student and parents are to write down the book title and sign off that the child read the book.
The next day the folder comes back and I check that they read the book. I like to send home Reading A-Z books because if they get lost it's not a big deal. I also send home Houghton Mifflin leveled readers and phonic books. Once the student has filled their reading log, they get to take home a book of their choice. Then I put a new reading log in the folder.
This system works really well for me. Since I do not have that many chapter books, I usually don't allow students to bring them home and I feel like this is the only problem in the system. If you are looking for other ideas on Take-Home Readers join Time 4 Kindergarten's Linky Party.