When you are updating or renovating your Rental property, you are also committing to make a substantial investment. Think about the term “update”, it actually means bringing the property up to date so that you can charge the maximum rent for it in a competitive market. You want to be sure that you put your money where your prospective Tenants will appreciate it most.
But this isn’t like the good old days. Now when he cries out there’s no one around to hear him; no one to attend to his dire need. No one who cares to save his life, that is.
The first few pictures looked nothing like the hotel I’d seen. Perhaps this was a different building? I kept scrolling, and there it was: The Treasure Island Inn (some places label it as Treasure Island Resort). Spooky! I couldn’t help wondering if this was in anyway related to the Treasure Island hotel in Las Vegas (It apparently isn’t). Certainly someone would have fixed this place up by now, right? I mean, this is Daytona Beach.
The city will likely require a permit for a tear down and there may be other ordinances that apply. In really old areas, you may be bound by aspects of historical preservation. Also, you can’t just turn off and rip out gas, water, and electrical lines. Each utility company will need to properly disconnect the service and it may be necessary for the local fire department to inspect the site and sign off on the work first. Fees and permits may apply in each case.
Light up the furnace. Is it working? Perhaps it’s belching carbon monoxide. How about the drainage system? Check the fiberglass insulation behind the walls. If it is gray, remove a sample for laboratory testing. Treat it as dangerous. Asbestos is odorless and colorless, so use protective clothing, gloves, and a mask. Never mind the arched eyebrows. But call an speedy demolition company to do the job instead. It’s your life and your refinance home loan.
Wear safety gear when dealing with asbestos. This should include goggles, gloves and a respirator, as well as clothing to cover the whole of your body and ensure that none of the dust can escape onto you.
A refinance home loan should be a good lifetime investment if you want a house that will be home to you and your family for ages. So have that house checked before you sign the papers. Your safety comes first.