Safety First with NJ Real Estate Environmental Audits
Having a commercial oil tank on your real estate property is a potential liability that needs to be carefully monitored for the health of the environment and for strict accordance with state and federal regulations. The Environmental Protection Agency (EPA) is in charge of setting standards for both home and commercial oil tanks and these standards are then enforced by state and local governments.
For instance, to install or replace an oil tank, a new inspection and license must be obtained by the owner of the property to ensure that the oil tank is safe and not causing any potential environmental harm. These inspections can be known as NJ real estate environmental audits. Audit meaning that it is ensured that a company or small business is participating in the correct procedures to keep the oil tank in working condition and causing minimal harm to the environment.
Environment Protection Act 1970
This Act was passed over 40 years ago to assess the environmental harm caused by a company. The NJ real estate environmental audit will answer questions like what is a possible contaminant or pollutant? And what could it potentially contaminate? In the case of a commercial oil tank, we know answers to some of those questions already. That oil would be the potential contaminant, and if leaking could potentially affect the ground, water, and air of the surroundings.
These type of audits are often done prior to moving onto a new land. Perhaps a company is looking to move onto a property with an existing oil tank. An environmental audit would have to be completed to judge the age and condition of the oil tank, as well as if any potential environmental damage had already occurred that the business will now be responsible for.
For example, in the case of oil tanks, an environmental audit would include ensuring that there is a leak detection system in place, as well as vapor monitoring and secondary containment. This is especially important for older tanks, that might not have these updated features. These features are there to prevent leaks and to keep an eye on commercial oil tanks all year long, and must be installed if not already there.
Benefits of an NJ Real Estate Environmental Audit
As annoying and stressful an audit may be for commercial land owners, the benefits surely outweigh any of the hassle. In fact, they could give land owners a new sense of confidence that there land is environmentally friendly and that their oil tank requires no assistance or replacement. It also provides real estate owners with an idea of expenses for the future and when further action may need to be taken.
And if there does happen to be an issue with your oil tank, the service performing the environmental audit will do more than just identify the leak or problem for you. They will be sure to identify the best, most cost effective way to solve the problem and will discover if other commercial companies around you are experiencing similar issues. Sometimes better deals can be worked out if multiple sites in the same area need to be worked on simultaneously.
Having an NJ real estate environmental audit performed on your property is not just an investment for your own land, it’s an investment for the entire community. Keep yourself safe and keep your community safe by having your oil tank inspected regularly and kept up to date on varying environmental requirements. For professional assistance when it comes to your commercial oil tank, give us a call at Tslack. We can handle any of your servicing or installation needs.