Investors
Investors have a more difficult dilemma. Typically a
landlord should disclose to a potential tenant anything
that could materially affect their decision regarding
renting the home 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 and you did not disclose it.
Mold issues can affect the economics of an investment
property. Will a home 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 or child develops asthma, 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 home
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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