Investment Property Owners to Be Aware of Concrete Cancer

There is a lot that goes into owning an investment property, including maintenance costs, general administration, and various legal and other concerns, which can differ according to whether the investment property is leased out for residential or business purposes.

While agencies can take much of the headache out of managing investment properties, including vetting tenants, managing admin, and fielding complaints, this option has the potential to cause owners to be less in tune with what is happening with, on, and to the property themselves. For the most part, good property managers or agents, as well as tenants, may timeously bring up concerns regarding the property and enable the owner to address the issue accordingly. However, relying on third-party reporting could result in certain issues going unnoticed, which could prove costly to the owner down the line.

One such issue where the warning signs can easily be missed by an untrained eye, or in cases of irregular inspection on the part of owners or their representatives is concrete spalling – more colloquially referred to as ‘concrete cancer’. Essentially, concrete cancer occurs when the metal reinforcement within the building concrete begins to rust and expand, causing cracks and breakage in the concrete. This is problematic on several counts.

First, it indicates water damage, which left untreated can lead to mould and structural disintegration. Second, untreated concrete cancer can result in an overall structurally unsound building. Apart from the cost of concrete cancer repairs, owners may even be liable for compensation should their tenants be injured as a result of leaving the damage untreated.

Conducting comprehensive checks and regular maintenance of an investment property, as well as having a professional assess any cracks, stains, or bubbling visible within the concrete are necessary steps for mitigating the potentially severe damage and costs caused by concrete cancer.