Protection of rental units from damage

[Ayo O.]

I was wondering what everyone else is doing to protect their rental units from damages by tenants.I typically collect 1 month as security deposit and require tenants to carry rental insurance policy( which most don't keep current)I also have landlord insurance policy however, I think the security deposit may not be enough to cover most damage cost. Is there any insurance policy that specifically insures against damage to rental units. TIA

[Nathan Gesner]

The #1 thing you can do to protect your property is to screen them properly. If you get that down, you will dramatically reduce the risk. 

The #2 thing you can do is create and implement policies and procedures for tenants that get out of line. What will you do if they pay rent late? What if their reason for paying late is that Grandma Elsie is in hospice and they have to fly to Louisiana on short notice? What if you get a complaint from the neighbor that dogs are barking all night...but the tenants aren't supposed to have pets? How will you handle a tenant that refuses to water the lawn or that stores a pickup in the back yard or hangs blankets in the windows?

Unfortunately, these are things you can learn quickly (if you put effort into it) but it can take time to develop.