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Commercial investors have a more difficult dilemma.
Typically a landlord should disclose to a future tenant
anything that could materially affect their decision
regarding renting the building prior to renting it.
Things such as mold related issues should be disclosed.
If not, your liability greatly increases if the tenant
finds out at a later date.
Mold issues can affect the economics of an investment
property. Will a building with a prior mold problem
rent at market rents? Will the resale value be less
than market value?
This is not to say that a mold issue can not be properly
mitigated and a clearance certificate issued for occupancy.
However, if a tenant's employee or employees complain
of allergies or other upper respiratory related problems
for no apparent reason, the landlord's property could
easily be blamed for it. The causation of these problems
to the building would be very difficult to determine
but it does put the landlord in the position of having
to defend themselves with no insurance backup. We have
all seen insurance companies exclude mold from their
policies leaving everyone financially responsible themselves.
We have saved homeowners and investors
millions of dollars by equipping them
with the knowledge to make good investment decisions.
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