Mold represents a serious risk to rental properties. Not only can it ruin the property and damage the investment, but it can also create an unhealthy living environment for those who live in the property. When mold is found in a rental building, the landlord is often held liable for the problems it causes. A mold addendum can help provide a measure of protection for a landlord, and this is particularly valuable if the landlord owns property in an area where mold is a common problem.
What Does a Mold Agreement Do?
As a landlord, you work hard to ensure your buildings are well maintained and provide a safe environment for your tenants. However, your best efforts at maintaining your property do not control the actions of your tenants. Without the right information about mold and how it grows, tenants can perform actions that increase the risk for mold, and you could eventually be held liable for this. A mold addendum to your lease helps protect against this risk.
In a mold addendum form, you ask the tenant to sign that he or she is responsible for maintaining the property in such a way that it does not encourage the growth of mold. It provides guidelines on how to do this and steps to take to prevent mold growth. If mold grows as a result of your tenant’s actions or negligence, the addendum makes it possible for you to hold your tenant responsible. This helps protect not only your liability, but also your investment in your property, because your tenants will have to pay for mold damage to the property.
In addition, you may be required by your state to provide your tenant with a mold disclosure form. A mold addendum can include this form to ensure you are fully protected and operating in line with the law.