MOULD -Don’t gamble with mould in multifamily buildings

 

MOULD -Don’t gamble with mould in multifamily buildings

The existence of mold poses significant risks for apartment building stakeholders, including owners, management companies, developers, and builders, with past litigation seeking billions of dollars in verdicts. Detecting mold and other airborne pollutants can be challenging, exposing potential buyers to considerable risk. To safeguard themselves, buyers can take a couple of straightforward steps.

Firstly, it is advisable to have a qualified engineer conduct a thorough inspection of the property. Even if mold is visually apparent, the source and, consequently, the solution may not be accurately identified without professional assessment. Additionally, buyers should ensure that property owners are obligated to disclose any mold issues in documentation, specifying whether these problems stem from tenant lifestyle factors (e.g., failure to use bathroom fans) or if they are structural issues. This information is crucial for understanding how to address the problem and estimating associated costs.

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