It’s no secret that a correctly done – i.e. compliant with all regulations and with zero remaining contamination – mold or asbestos removal project is very expensive. In fact, large-scale mold and asbestos abatement projects (Type 1 and Type 2) are essentially construction-level jobs that require special equipment, practices and skilled workers.
Although costly, it’s always worth looking at an abatement project as an investment. This work will raise your commercial or residential building into a healthy living space, one that will attract tenants such as residents and businesses.
Abatement will also protect you from the results of high health hazards, shielding you from a loss of credibility and possibly even legal troubles.
In this article, we breakdown where your money goes in an abatement project and your options for actually financing this project in a sustainable way.
Why Mold and Asbestos Removal Services are Expensive?
Simply put, mold and asbestos removal projects require a combination of special equipment – such as High Efficiency Particulate Air (HEPA) vacuums – trained workers and practices. Each of these measures are in place to ensure worker safety and a thoroughly successful project.
Regulations
Both mold removal and asbestos abatement projects fall under federal and provincial legislation, especially each province’s worker safety regulations. For example, all asbestos abatement work in Ontario must comply with Regulation 278/05 and Section 25(2)(h) of the Occupational Health and Safety Act (OHSA).
You must absolutely follow these regulations in your abatement work!
These regulations were designed to guarantee worker safety. Asbestos and mold are hazardous substances capable of causing serious health problems, especially with long-term exposure.
For example, even the smallest, sustained inhaling of asbestos fibers can cause cancer. From 1996 to 2014, asbestos exposure was the leading cause of death of Canadian workers.
One can imagine then the heightened risks asbestos abatement workers face as a result of their direct exposure to asbestos containing material, including friable material which take the form of dust that can easily be inhaled.
Likewise, direct exposure to mold also has to be managed since it too can cause severe health issues to those required to handle and dispose of it.
Special Equipment & Measures
Canadian regulations require asbestos and mold abatement projects to use special equipment and measures, both of which vary depending on the size of your project.
Measures
In terms of measures, asbestos removal and mold abatement projects must start with proper surveys and inspections. The cost depends on the potential size of the project, though large projects – such as commercial buildings – could require several thousand dollars.
Large-scale projects – such as Type 1 and Type 2 – require contractors to set-up barriers at the worksite. This is to prevent the mold or asbestos from contaminating the surrounding area and to keep tenants (and other non-essential persons) away from the worksite (for their own safety).
Equipment
Mold and asbestos removal projects require the use of costly, but entirely essential equipment.
First, the workers involved must have proper Personal Protective Equipment (PPE) in the form of proper gloves, breathing masks and other things to protect them from contracting asbestos or mold substances.
Second, the disposal process requires HEPA vacuums (for proper cleaning) and polyethylene bags to dispose of asbestos or mold-containing material.
In Type 2 and Type 3 operations, you can also expect your contractor to install decontamination sites. This is to ensure that the workers can leave the worksite without taking any of the mold or asbestos substances with them to other areas.
Worker Training & Insurance
Finally, the workers themselves must be fully trained and insured. In terms of the latter, asbestos and mold removal contractors will also have support measures (e.g. medical screening) in place for furthering worker safety. In the end, you need the right people carrying out your project.
This will guarantee that the work is done safely and correctly the first time. As you can imagine, it takes a lot of investment from your contractor to build high-quality staff.
Mold & Asbestos Removal Costs: How Can I Fund a Large Mold/Asbestos Abatement Project?
You can explore a variety of funding sources for your large mold or asbestos abatement project, including government grants, your insurance coverage and/or a financing plan by a professional environmental contractor.
Government Grants
You should look into government grant options. Granted, these programs will not apply to every project or applicant, but in cases where your property hosts public or community services and/or other specific social activities, you might gain funding.
For stronger opportunities, look to match the structural repair, reconstruction or renovation aspects of your job to grant funding.
Insurance
Ideally, you will have insured your building. In fact, you can prepare yourself for the future today by finding insurance coverage specifically designed to deal with asbestos-related incidents and mold outbreaks.
Don’t assume a large coverage means mold and asbestos coverage, you need the latter specifically for insurance to be of real support in abatement projects.
Financing
Finally, seek a professional environmental contractor capable of providing a financing plan for your large mold or asbestos abatement project.
Like you, mold/asbestos removal companies understand that large projects are difficult to fund upfront, so companies – especially FERRO Environmental – offer financing plans to help make Type 2 and Type 3 projects doable.
By combining grants, insurance and financing, there’s no excuse for delaying your asbestos or mold abatement project, no matter how large. In fact, delaying will only worsen your problem – and in turn, add to the cost you have to pay in the end.
We at FERRO Environmental can provide you end-to-end mold/asbestos abatement services: from inspection and hazardous material surveys, building a financing plan and implementing a fully professional, compliant and effective mold/asbestos removal project, we cover everything.
