Are you ready to become a rental property owner, but you aren't sure what all the risks are going to be? If you're looking at older low cost homes you can purchase and fix up to rent out, you want to make sure that the houses are safe for your tenants.
There are a lot of building concerns and safety hazards that are associated with older homes, but if you purchase the home and have the property inspected and the hazards treated, the properties can end up being great investments over time. Here are a few of the things you want to get inspections for.
Lead
Lead based paint, plaster and lead in other materials can be a health problem for adults, children, and for a fetus that isn't even born yet. Some health problems include:
These are just a few of the problems, and why you want to find a specialist that does lead abatement if there is lead in the property. Once the lead is sealed and encapsulated, you won't have to worry about your future tenants being exposed.
Asbestos
Asbestos is found in dozens of building products that were manufactured throughout the middle of the 20th century, and these materials are a danger to those living in the house if they get moved around or wet or if they catch fire. Interactions with the asbestos can cause lung cancer, mesothelioma and asbestosis. Have the house inspected for asbestos, and pay to have all the asbestos removed from the property so you don't have to worry about it again in the future. This will improve the property value and allows you to update the space. Contact a company like Mac-Bestos Inc to have your home looked at.
Mold and Mildew
Older homes are going to be more susceptible to having mold and mildew problems than newer properties, so you want to have a mold and mildew inspection completed. These toxins can cause breathing problems, allergies and more, and you want to have the house treated before you move anything in or start to do work.
These are just a few of the things that you want test for when you are considering purchasing an older property, and you aren't always going to get testing for these hazards in a standard home inspection package. Talk with the experts after your inspections to see what the cost will be to remove these substances from your property.
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