Many things can cause a property deal to fall over, and many things can also cause someone to get sick. But there’s one thing that can do both: asbestos. 

More than 170 Kiwis die from asbestos-related illnesses annually. Most are related to exposure in previous years, and many of these occurrences are linked to industrial and commercial work.

Asbestos building materials were used in New Zealand for more than half a century, which means that you’ll be hard-pressed to find an older building that doesn’t contain at least a slight chance of having this often-fatal mineral within it.

But when you get confirmation of asbestos in a commercial property, it can have more of an effect than you might think. Read on to learn what discovering asbestos in your commercial property could mean for you.

The regulations have changed

Previously, the testing, management, and removal of asbestos were entirely voluntary in commercial buildings and workplaces. You didn’t have to do it, and no one could really make you. But now, if you own a building that was built before 2000, you must have an asbestos management plan and asbestos register.

For some landlords and property owners, this can cause, or has caused, a lot of headaches. If you are not all that familiar with asbestos, then it can be a minefield to navigate to make sure you comply. However, WorkSafe New Zealand insists that the new legislations are about making sure that the removal industry is working to a high standard, and that our New Zealand management systems are in line with those of the UK and Australia. It’s not in the game of making life harder for people.  

Fortunately, even though the regulations have changed, the effect on your property can be good. You can hire an asbestos removal and management company to tackle the problem, then enjoy peace of mind that you’ve ticked all those legislative boxes for yourself and future commercial property buyers.  

How asbestos could impact your property value

Asbestos building products have been around for decades. And while they no longer feature in new homes, they are more than prevalent in older ones. When those asbestos building materials are in good condition, and the building is not in a state of disrepair, it’s not typical for the existence of asbestos to devalue your property. 

But it’s when your commercial property requires repairs, no matter how minor, that the existence of asbestos begins to compromise that property’s value. Take roof repairs or replacement, for example.  

A good condition roof with asbestos materials will not bring down the property’s value a lot. If it leaks and could require replacement, then the value begins to plummet. You or the potential new owner of the building would need to call in asbestos removal experts and follow the removal protocol to the letter. A new owner who likes the building regardless may ask for a price discount to factor in those costs and inconveniences.

Where asbestos might exist in your commercial building

Commercial property owners who take good care of their buildings may not worry about the existence of asbestos. As long as all the building materials are in excellent condition, it’s unlikely to pose a risk.  

However, if you are going to undertake renovations or repairs, or you know some parts of the building are not up to standard, it’s crucial that you’re aware of where asbestos may lie. Ignorance is no excuse for flouting the law.

Asbestos can be present where you least expect it, and there are no labels or warning signs to indicate its existence. From roofing and lagging, ceilings, and water pipes to electrical fuse boards and downpipes, it’s in many places where it seems like it doesn’t have to be. Often, its insulating and fireproofing properties made it desirable as a building material.

If you believe asbestos may be present in your commercial property, then you can download WorkSafe New Zealand’s management plan fact sheet for a helping hand. You can then take the next step and speak to an asbestos management expert to find out what happens next.

Putting together an asbestos management plan

One of the most significant changes and the biggest effects on commercial properties has been the requirement of an asbestos management plan. What does one look like, and what does it include?

An asbestos management plan has to include the identification of asbestos (which a removal expert can help with), the procedure for incidents and emergencies relating to asbestos, and the responsibilities and roles of workers.

If there is any asbestos risk, then decisions and reasons for those decisions should feature in the plan, as should worker health monitoring, who those workers are, and any training and information pertaining to those workers. The worker, business, and building owner must all have a copy of the plan and know what’s outlined within.

Managing asbestos in your property

Asbestos is a dangerous material that can have an impact on your residential or commercial property. But it doesn’t have to. With the right experts on hand, you can have a plan in place for its management, as well as all the information you need to make an informed decision on its removal in the future.