The discovery of mold in your rental property should cause you to spring right into action. Not only can mold growth be detrimental to the health of your tenants, but uncontrolled mold can cause property damage. Learn why it's just so important for you to take mold remediation seriously.
Liability and Loss of Use
Lease agreements distribute property to the tenant, as well as the property owner. Typically, the language within these contracts dictates that the property owner is liable to make repairs when an issue arises with the property that was not caused by the tenant. Mold growth from a leaking roof or pipe or poor ventilation doesn't fall in the realm of tenant-responsibility.
If you fail to rectify the mold issue, you could violate the lease, and in some states, the tenant might be authorized to terminate the lease. In other instances, the tenant might be able to claim loss of use if the unresolved mold issues make the unit unlivable. Either way, you could lose a tenant and money.
Overlooking Unresolved Issues
When a property owner doesn't address the issue, there is also the risk that they will overlook an unresolved problem. Mold never just appears; it's instead a symptom of an underlying moisture issue. Leaks, ill-performing cooling or heating units, poor ventilation, and condensation are just some of the common issues that create a breeding ground for mold growth.
Mold remediation doesn't just involve mold removal. The process also involves an inspection to determine the source of the mold growth. By addressing the mold, you are also afforded the opportunity to address the underlying issue, so that you can avoid the same problem in the future.
Long-Term Structural Damage
It's essential to address the mold issue in order to protect your property for the long-term. Take mold that is the result of a leaking roof, for instance. Mold that is covering the roof's support beams is especially dangerous. Mold has a weakening effect, in that it can make wood spongy and less structurally sound.
The spongy wood could in turn collapse onto any tenants and their property below, neither scenario is ideal and could leave you paying a high cost. Addressing mold issues early prevents the problem from growing in magnitude and causing greater damage.
Contact a remediation professional if you have a mold issue in one of your properties. The sooner you begin to address the issue, the better.
Share25 September 2019
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