One problem you may encounter as a landlord is finding damage in apartments you rent out, and this is something you might not even find until a tenant moves out. Damage in your units takes time to repair and costs money, but there are some things you can do that might reduce the amount of damage your tenants cause in the units they rent.
Choose better tenants
The first thing you can do is make sure you fully screen all the tenants you choose. The screening process often helps you choose tenants who are more responsible and who will cause fewer problems for you and the units they rent. Unfortunately, though, screening a tenant is not enough to prevent them from damaging their units; however, it can help you have a better tenant clientele, and this could result in less damage.
Make sure you charge a decent amount for the security deposit
No matter how much the rent is for the units you have available, you should always insist on charging a decent amount of money for the security deposit. The security deposit is really the only money you have to make repairs caused by the tenant of the unit. If a tenant causes major problems in the unit, the amount is likely not going to cover all the costs of repairs, but it might.
If you prefer, you could ask tenants to buy security-deposit insurance instead. Instead of paying a security deposit, a tenant could purchase this type of insurance policy. The amount they pay for the insurance would be non-refundable, but you would have more coverage in the unit for making needed repairs.
Conduct inspections and maintenance
The third thing you could do is create a system that involves inspecting and maintaining all the units you own on a regular basis and choosing to do this quarterly is often a good idea. What this means is that someone will come to each unit once a quarter to inspect it. During this inspection, they will write down the problems the unit has and will send someone there to make all the necessary repairs and maintenance. By doing this, you have a way to repeatedly check up on the unit to ensure that it is in good condition.
If you would like to have a company help you manage your rental properties, you can do so by hiring a property management firm, like MacPherson's Property Management.