Are Rental Property Owners Liable for Mold Lawsuits?

9/3/2020 (Permalink)

The best way to reduce the risk of mold damage that can lead to lawsuits is to get a mold inspection

Mold insurance claims are on the rise in East Dundee, IL. The reason for this isn’t that mold has become more common; it’s because so many people are much more aware of its impact. Once the news or social media picks up a subject, it spreads like wildfire. However, mold really can be a serious problem – and it can lead to lawsuits.

Who Is Most Vulnerable to Mold Lawsuits?

Any business or property owner can theoretically face a lawsuit. However, certain individuals are more likely to be involved in a mold lawsuit, including:

• Landlords
• Property managers
• Apartment or multifamily building owners
  

Commercial building owners may face a lawsuit as well. However, the laws concerning commercial property management or ownership tend to place more responsibility for commercial tenants.

Will Mold Insurance Claims Pay for the Mold Removal?
Some commercial property insurance policies include coverage for mold. In most cases, this depends entirely on the specifics of your policy. Mold insurance claims are most typically covered in a rider, but with the increase in awareness of the problems mold causes, some insurance companies are considering including a mold claim as part of their overall coverage.

What Can You Do to Reduce Your Risks?
Actually, the greatest concern for property owners and managers is the mold itself, not the lawsuit. On top of the potential risk to residents, there is the severe damage black mold can cause to building materials.
Mold eats drywall like pigs at a trough. Once it gets established, it continues to grow anywhere excess moisture exists. It’s voracious!
The best way to reduce the risk of mold damage that can lead to lawsuits is to get a mold inspection from a mold remediation expert. You also need to reduce unnecessary humidity, but that’s tricky for a landlord. Plumbing and roof leaks can go unnoticed by tenants, and those are two of the greatest causes of black mold growth. That’s why regular inspections are important: they can not only find mold but can also locate ongoing and costly water intrusions.