In July of last year a roof leak developed and caused damage to the ceiling in my unit, to the point there was partial ceiling collapse. 

Give her 30 days notice now, keep her security deposit, and send her a additional bill for damages to the unit in lieu of taking her to court for the damages.  

Kaushik,Before you decide, contact your agent and find out  if, by excluding the roof coverage, you are also excluding ensuing damage. 

I suggest 8% for a great credit buyer and higher for one with poorer credit.

The tenant understands that the property of the Tenant is not insured by the landlord for damage or loss of any kind (action of third party, fire, water, theft, vandalism, storm, heat or cold, electrical damage, pests, mold, accident, etc.), and the Landlord assumes no liability for such loss.

In neighborhoods that won't attract high credit score tenants, I've found that a stable job history with a MINIMUM of 1 year at current or previous job to be the best indicator of a great tenant. 

He stated he turned off the breaker to the pump to avoid damage. 

Does the contract include a monetary damages provision?

They usually have a process for filing a claim with the city for damage caused by them, and they may be willing to cover it.

This way if there’s physical damage by residents the company pays the first $500 to fix it.