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Radon and the Real Estate Transaction

He received a BS in Natural Resource Management and Engineering at the University of Connecticut and holds certifications from OSHA and the EPA. Oregon state treasury (ost) is recruiting for the position of real estate investment officer. this position ...

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Exposure to radon is most common through ingestion and inhalation, with inhalation being the largest threat of developing lung cancerThe grave health risks posed from radon exposure varies on how much radon is in the structure, how much time is spent in the structure and if there is smoking in or around the structureIndividuals who smoke, and are exposed to radon at home or work, are at the highest risk of developing lung cancer When Should a Radon Test Be Conducted? The Environmental Protection Agency has prepared a Map of Radon Zones to aid National, State and local organizations in identifying high-risk radon areas in each of the 3,141 counties in the United StatesEPA’s map is also used to assist these organizations in targeting their radon program activities and resources While EPA’s Map of Radon Zones is helpful in screening for higher risk areas, high levels of radon gas have been found in each map zoneTherefore, site-specific testing by a knowledgeable environmental professional is the only way to accurately identify the level of risk How Are Radon Tests Conducted? Since radon gas is odorless and invisible, the only way to determine if a structure contains high levels is to perform testingDuring a real estate transaction, it is fairly common to hire a certified radon measurement professional to perform the testingAcross the United States, there are several states with their own radon program which train and license radon mitigation contractors and radon measurement professionalsTo date, twenty states have some form of radon certification requirements for its service providers, and/or laboratory requirements Short-Term Testing Short-term tests are useful for screening when a real estate transaction is imminent, and for situations where results are needed quickly.  Short-term tests should remain in the structure from 2 to 90 days, depending on the device.  In all scenarios, testing must be conducted for at least 48 hours.  Because radon levels may fluctuate by as much as a factor of two or three, additional testing is sometimes recommended to better assess the average radon level The EPA recognizes several measurement standards that have been compiled by the Approved American National Standard and American Association of Radon Scientist and Technologists (ANSI/AARST).  These measurement standards include protocols for single-family homes, multi-family homes, schools and large buildings Long-Term Testing While short-term tests are useful for screening and for situations where results are needed quickly, a long-term test is a better indicator of the average radon level in your structurePer the EPA, long-term tests can also be used to confirm initial, short-term results between 4.0 pCi/L and 8.0 pCi/LLong-term tests must remain in the structure for more than 90 days, and in some scenarios, up to 12 months Radon levels are known to be affected by the time of day, temperature change, and seasonRadon levels generally increase in colder monthsThe advantage of performing a long-term test is that the testing device will generate a reading which is more likely to depict the structure’s year-round average radon levelAdditionally, closed building conditions are not considered necessary When long-term test results indicate a radon concentration of 4.0 pCi/L or higher, the EPA recommends that the elevated radon concentration be lowered via mitigationThe EPA also recommends that radon mitigation be considered within structures which exhibit radon levels between 2.0 and 4.0 pCi/LYou may also be advised to delay a real estate transaction until the seller has successfully abated radon to a level less than 4.0 pCi/L Due to some states with regulations which mandate the testing and mitigation of radon, mitigation has become more prevalent in residential and commercial real estate environments over the past several yearsCommon radon mitigation methods, such as Sub-Slab Depressurization (SSD) are simple to implement and relatively inexpensiveWhen installed correctly, by a certified radon remediation professional, a mitigation system can typically reduce radon concentrations from 80% to 90% Radon Awareness is Growing Over the past decade, as public awareness has rapidly grown, radon has become a contamination issue that is recognized by various states and organizationsAs such, additional states will likely issue their own regulations in the futureThe EPA, American Medical Association, American Lung Association, U.SSurgeon General and the National Academy of Sciences, as well as many other health organizations, have all subscribed to the fact that radon is a national health concern that must be addressed The National Environmental Health Association and the National Radon Safety Board administer voluntary National Radon Proficiency Programs for radon professionals consisting of individuals and companies wanting to take training courses and examinations to demonstrate their competency The lending industry is also working to address the radon risk issueFreddie Mac has specific radon sampling requirements for their multi-family dealsAdditionally, the United States Department of Housing and Urban Development (HUD) Multifamily Accelerated Processing (MAP) requires radon testing guidelines (following protocols set by Multifamily Building Measurement [MAMF 2017] or states, whichever is more stringent) for multi-family unitsIf you are applying for HUD-backed financing or refinancing for a multi-family building, you must have radon testing performed by a radon professional and provide proof of radon mitigation for any unit that exhibits high levels of radon gas Although it is not feasible to test land prior to new building construction to determine if there will be a radon intrusion issue, the construction industry recognizes the importance of preventing the intrusion of radon gas into the interior of structures Particularly for multi-family buildings, it is more cost effective to integrate radon-resistant construction measures into the original structural design rather than to remediate elevated radon levels after the construction is completeFor existing CRE structures, engaging a licensed, certified specialist in identifying radon risk and providing workable, effective solutions is a critical part of protecting your investment and property. .slideshow { padding: 0 0 15% !important;} h3.slide_caption {position:absolute; bottom:inherit;width:95%;padding: 25px 10px 5px !important;} Michael Dinger › Michael Dinger is a National Portfolio Manager at Partner Engineering and Science, based out of their Upper Saddle River, New Jersey officeMrDinger has over 19 years of experience in the environmental service and consulting industryHe has served as a field manager, project manager, and senior author or reviewer on over 10,000 real estate transactionsHis primary clientele focus includes DUS, CMBS, and insurance lenders, as well as real estate investorsMrDinger has performed Phase I Environmental Site Assessments (ESAs), Phase II subsurface investigations, third party reviews, due diligence audits, record searches, asbestos surveys, lead-based paint screenings, radon studies, mold assessments and lead-in-water sampling and analysisHe also has vast experience fulfilling the needs and requirements of a varied number of reporting standards, including the following: ASTM, EPA’s All Appropriate Inquiry (AAI), Freddie Mac, Fannie Mae, the U.SSmall Business Administration, and customized client formats and scopesHe received a BS in Natural Resource Management and Engineering at the University of Connecticut and holds certifications from OSHA and the EPA. More articles by this author › Contact Michael Dinger   More National Headlines Joe Stettinius Passes Away; Spearheaded Two Corporate Mergers Tiptree Trades CareIT, Takes Invesque Stake What Foreign Companies Should Know Before Opening in the US Data Center Mergers to Ramp Up in 2018 Featured Events RealShare Philadelphia 2018 February 07, 2018 Philadelphia , PA Connect with over 400 of Philadelphia's elite commercial real estate professionals as they gather at RealShare Philadelphia. Register Now RealShare Apartments East 2018 March 08, 2018 Key Biscayne , FL The conference will discuss the most pressing topics affecting the multifamily community on the East Coast. Register Now RealShare Net Lease 2018 April 04, 2018 New York , NY This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. Register Now Related Jobs Presented By Select Leaders Property Manager (Healthcare Trust of America) Indianapolis, IN Property manager - healthcare trust of america indianapolis, in general duties and responsibilities: the property manager is a vital role in the companythis position is responsible for the successful day-to-day financial, administrative and maintenance operations of multiple healthca... Apply Now › Senior Analyst - Finance and Business Operations (Gemini Rosemont Commercial Real Estate) Bellevue, WA 98004   senior analyst – finance and business operations – gemini rosemont property management bellevue, wa 98004 gemini rosemont is a fully integrated market leader in commercial property acquisitions and management that is focused on delivering attractive returns to institut... Apply Now › Senior Analyst (Passco Companies, LLC.) Irvine, CA 92614 Senior analyst, multifamily investments – passco companies, llc office location:  atlanta, georgia   passco companies, llc is a nationally recognized market leader in the acquisition, development, and management of commercial properties throughout the u.sfor almost 20 ... Apply Now › RESOURCES More Resources › $(window).load(function(){ $("#rightCarousel").owlCarousel({ singleItem: true, navigation: true, navigationText:false, autoHeight:true }); if($('#rightCarousel .owl-item li').length == 1){ $('.owl-buttons').hide(); } }); Featured Content Joe Stettinius Passes Away; Spearheaded Two Corporate Mergers February 02, 2018 An industry veteran of more than three decades’ standing, Stettinius most recently was named executive vice chairman of strategic investments for the Americas at Cushman & Wakefield. Tiptree Trades CareIT, Takes Invesque Stake February 02, 2018 For Invesque, formerly known as Mainstreet Health Investments, the Care Investment Trust acquisition doubles the size of its portfolio. Commentary What Foreign Companies Should Know Before Opening in the US February 02, 2018 | By George Pino From demographics to understanding the permitting and planning processes of each city, there is much to consider when foreign companies look to expand into America. Data Center Mergers to Ramp Up in 2018 February 02, 2018 2018 also promises to be the year that foreign firms, especially Chinese ones, seek to get a piece of the valuable North American market. //set share tool variables var socialTitle = "Radon and the Real Estate Transaction"; var socialDescription = "The United States Environmental Protection Agency (EPA) has designated January as National Radon Action MonthHigh levels of radon are prevalent in…"; var followedArticle = "followedArticlesitespartneresi20180126radon-and-the-real-estate-transaction"; About Us Contact Us Contributors Advisory Board Thought Leaders RealShare Events eNewsletters Advertise Terms of Use Privacy Policy Markets National International Atlanta Austin Boston Chicago Dallas Houston Los Angeles All Markets › Sectors Net Lease Multifamily Retail Student Housing Healthcare Real Estate Hotels Office Industrial Real Estate Forum Real Estate Forum Current Issue Digital Edition Issue Gallery Reprints Advertise Subscribe / Renew Current Issue

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