An ideal tent site is one that protects you and your tent, hiking equipment or camping gear from the sun, wind, rain, lightning and wildlife as well as possible. A good quality tent will protect you from the elements that much longer if you protect it from exposure as well.
Sunlight, harsh wind, and rain all can contribute to camping tent wear. It's not something to be overly concerned with, just keep these ideas in mind if you have a choice of where you decide your tent site will be.
The sun's ultraviolet rays will fade the fabric of your tent over time. This bleaching/oxidization of the fabric causes the material to weaken which makes it more prone to tearing eventually.
Wind driven dirt and harsh winds will also cause your tent to wear faster. The wind stretches and pulls at the material increasing wear, especially if the fabric is rubbing against itself with grit in between.
Rain that splashes mud onto your tent will also wear it more quickly than you'd probably like, so make sure to let it dry and then brush it off with a whisk broom before you store it.
Take the (slightly) higher ground.
Avoid low lying areas where water might tend to flood, pool, or stream if it rains. If it's rained recently it will usually leave you a sign that water has pooled or flowed through your possible tent site. Look for lightweight debris that's been swept together to form small 'islands' surrounded by bare sand or puddle shaped rings with light debris at the edges. These usually are signs that this particular spot may not be an ideal place to set up your tent. Also, be on the look-out for any signs that say "Warning: Quick Sand." as this may not be an ideal location either. ;-)
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Look for flat or near-flat areas that are mildly elevated above the surrounding area as this will allow the water to move away from your tent.
If you're camping in a wide open area, avoid sleeping under one or a few lone trees as they can literally become lightning rods in thunderstorms. While you want to be slightly elevated, you'll want to avoid the highest locations too because they also have a tendency to attract lightning.
Even if you avoid the lightning, there's also the danger of falling timber if the tree gets struck or the wind blows hard enough to split the wood. You may avoid the strike, but having 500 pounds of tree land on top of your tent would definitely put a damper on the trip.
Also make sure to keep any food in your car in raccoon or opossum country, and suspended 15 feet in the air between trees in bear country. Of course a mote of quicksand around the tent site would probably help keep the bears away, but please don't try it. ;-)
Take a look at the
camping tent guide
for tips on what to look for and tent reviews.