MOULD -Don’t gamble with mould in multifamily buildings

 The presence of mould has become a high-stakes gamble for apartment building owners, management companies, developers and builders. The past wave of litigation sought verdicts in the billions of dollars. Since mould and other airborne pollutants are often difficult to detect, potential buyers also are at significant risk. There are a couple of simple steps buyers can take to protect themselves.

First, have a qualified engineer inspect the property. Even if you think you see mould, you may not have identified the source – and therefore the solution – to the problem. Also, make sure that owners are required to spell out any mould problems in disclosure documents, and that they identify whether these incidents were caused by tenant lifestyle issues (for instance, not running the bathroom fan) or if the problem is structural. Again, this information will be key to knowing how to fix the problem and how much it will cost.