There are many items an Investor should consider when purchasing property as rental to others. The liabilities can be very costly if you do not understand tenant rights in the State you are purchasing. The State of Georgia has many rules, regulations and requirements the owner needs to be aware of.
One of these problems is mold. It is very toxic and a huge problem in the southern states especially in properties that have been sitting a while without air circulation. In addition, it is not uncommon for a seller to sell properties with mold issues. 85% of the homes I view for my clients with tenants residing in the property have mold. Scary when you consider the liability.
If mold exists be sure to have it mediated. It is required that an owner disclose to the tenant any mold found and the steps the property owner took to mediate prior to the tenant moving in. If you purchase a property with mold be sure to mediate immediately and have the tenant sign a waiver if they are aware of it.
Atlanta Home Connections specializes in Reo and Investor properties. We can help, ask us how!