How To Prevent Mold Liability Claims

9/5/2020 (Permalink)

Mold damage in Chuckey, TN

How To Prevent Mold Liability Claims

Your rental property in Chuckey, TN, may be a lucrative investment, but too many mold insurance claims can seriously cut into your bottom line. It's even more expensive if you get sued by your tenants for failure to provide a habitable living environment. Knowing what is going on in your building and taking care of problems quickly can help you avoid costly damage that disappoints your tenants and raises your premiums.

Regular Inspections
Mold can grow any time water damage occurs. There are several places that unmitigated water damage can hide:

• A slow leak in a pipe
  
• Floor damage from unreported flooding
  
• Ceiling damage from an upper floor
  
  

Inspecting your building on a regular basis is a good way to find signs of damage. It's also important to have an inspector survey the building any time there is new construction. Mold remediation specialists recommend that you have the building tested for mold if you smell a musty odor or find any indication of water damage.

Fast Mitigation
Another way to minimize mold insurance claims is to take care of problems as soon as you know about them. It doesn't take long for a mold to start growing anywhere there is excess moisture present. If a tenant reports a busted pipe, have maintenance staff repair the pipe immediately and call your water remediation company to start the mitigation process.

Quality Repairs
The lowest bidder on a project is not necessarily the best company for the job. Make sure you hire qualified professionals any time you have major repairs or additions made to your rental property. Having windows and plumbing installed and fixed correctly the first time can drastically reduce your chances of having to file a mold claim later.
Every property owner should have a policy that covers mold. It's just as vital, however, that you do everything you can to avoid having to file mold insurance claims. Protect your building and your tenants' personal property with responsible prevention strategies.