On Wednesday 18th May, NSW Fair Trading ran a seminar in Yass on Loose Fill Asbestos insulation.
There is a risk in all homes built prior to 1980 that they may contain this loose fibre insulation and the NSW Government is currently running a testing and buyback program. This program is running until 1st August 2016. To date they have detected the material in 28 Local Government Areas, including 2 properties confirmed in Yass Valley LGA. Due to the implication to both rental and sale properties in our area, we had agents attend to hear the information provided directly from the Government bodies.
Until 1st August this year you are able to register your property through NSW Fair Trading http://surveys.fairtrading.nsw.gov.au/LFAIT_registration_form.asp in order to receive a sample testing of your insulation by a Licensed Asbestos Assessor. It is very important that you register your home by this date as otherwise you will not be eligible for any Government assistance should the asbestos insulation be detected at a later date.
While we have had the majority of our rental properties tested for this material with no loose fill asbestos detected, if you believe that your home is potentially at risk of having the material present and you have not had a test conducted, we strongly recommend that you register for this current program.
The NSW Government is also currently in the process of passing legislation to make the non-disclosure of asbestos insulation in a property an offence under a number of property related acts
It was interesting to note that out of all of the agents in Yass there were only two other real estate agents present and neither manage rental properties. When you consider the serious implications of loose fill asbestos to home owners, tenants and agents it is important that you are receiving correct and up to date information.