Robinson & Henry, P.C., attorney and real-estate professional Donald Eby presented his seminar on “Mold, Meth, and Marijuana: What Brokers and Property Managers Need to Know” at the October 17th Real Estate Investor Success Summit.
Eby utilized his unique perspective as an experienced real-estate attorney, investor, broker, and property owner to address the legal and business aspects of three timely industry topics.
Mold, methamphetamines, and marijuana are hidden landmines that can subject property owners, real estate brokers, and property managers to legal liability and civil lawsuits.
Health issues related to a tenant’s mold exposure have resulted in multimillion-dollar lawsuit settlements. The existence of mold can also affect a property’s Warranty of Habitability.
A landlord or land owner and broker may face similar health liability issues if a meth lab was used on a property. The failure to detect, disclose, or remediate the effects of a meth lab has also resulted in six-figure settlements.
While the recreational and medical use of marijuana is legal in Colorado, the drug remains regulated by the federal Controlled Substances Act. Colorado law permits property owners or people that control property to prohibit or regulate the growing, possession, consumption, or sale of marijuana on the premises.
There are multiple considerations to take into account when deciding whether to allow marijuana on a property, including insurance coverage, security risks, and other tenants’ rights to enjoy their own property. Attendees learned how to spot the issues and avoid the legal pitfalls of mold, meth and marijuana in this one-hour seminar.