Paints are available in Matte, Rich Matte, Semi-Gloss, Satin, High Gloss and Super Sheen finish.
Matte Finish is opaque and does not reflect light at all and thus can cover up minor imperfections. It is not washable or stain-resistant, so only way to get rid of scribbles or stains is to paint over them. Matte paint is the most economical solution for houses on rent. Matte finish that is washable also available.
Higher the glossy finish higher the shine, more durable, easier to maintain it is and higher the cost. High sheen also reflects more light and hence imperfections like patches or reworked areas are easily noticeable. Gloss paints can be used in areas that demand attention and easy maintenance, like high traffic living room, kids room, kitchen, and bath.
If you have to impress your tenants with your freshly painted apartment and also save good cash, go for matte emulsion paints. They are easy to be painted over and do not show up minor imperfections as well. A smart tip is to use a combination of paints: Matte finish on the ceiling and desired sheen on walls, small textured wall, and few stencils to add up the beauty.