Important procedures had to undertake a particular Envirionmental site assessment: Important steps involved

by

Sean Ivancich

right before commercial real estate is built, an environmental site assessment has to be carried out. Failure to carry out an environmental site assessment as a commercial real estate trader can be very pricey.

Even though most people don\’t find it required to completely fully grasp the steps concerned in environmental site assessment, it is critical to realize the entire method especially if you want to invest in commercial real estate. Some of the items one needs to understand include; the steps/phases concerned, the big difference between steps/phases e.t.c. Below are the three main steps/phases of environmental site assessment that must be followed to avoid future financial risk when buying and selling in commercial real estate.

Step 1 (Phase 1)

The main aim of Step 1 or Phase 1 is gathering information. In step 1, no physical tests take place. Environmental consultants use this step to collect information that helps in making a decision of regardless of whether or not to proceed to step 2 site assessment. The information collected from step 1 i.e. physical environmental samples such as soil samples provide ample information to conclude on issues like environmental contamination, poor soil/ground structure e.t.c. Such information is vital for commercial real estate traders to make final investment decisions.

It is important to note that the scope of Phase 1 assessment varies depending on the kind of commercial property in question. In summary, Step 1 or Phase 1 report includes; site inspections on house improvements, interviews with past owners, present owners, local officials/authorities, building/site plans, geology/hydrology and topography of an area e.t.c.

Environmental consultants in step 1 concentrate on investigating/looking for; petroleum hydrocarbons, asbestos, lead, radon and mold amongst any other possibly harmful substances/compounds. Step 1/Phase 1 assessment ensures that a property or site meets commercial real estate pre-acquisition requirements. At the end of step 1, environmental consultants have to give a verdict on regardless of whether or not to conduct further assessment.

Step 2 (Phase 2, testing Phase)

In case step 1 isn\’t conclusive, then step 2 or phase 2 is advisable. In this stage, physical samples compiled from step one are tested. Environmental consultants are responsible for recommending the appropriate testing procedures depending on the worries uncovered in step 1 about a commercial real estate property or site. Step 2 is usually advised to confirm step 1 findings i.e. if a commercial real estate house is unfit for investment purposes due to things like asbestos and lead poisoning, mold infestation e.t.c.

Step 3 (Phase 3, site remediation Phase)

This is the last step/phase of commercial environmental site assessment. Phase 3 is purchased primarily based on the testing results obtained in the testing phase. Phase 3 involves remediation or mitigation which is usually required by regulatory agencies/authorities. The criteria and techniques followed in Phase 3 vary according to regulations and a sites specific condition. In this Phase, regulatory closure can result if the risk assessment proves that there are potential receptors and contaminants in a given commercial house/site.

In summary, commercial environmental site assessment is vital to making sound commercial real estate ventures. Any serious investor must insist on possessing comprehensive environmental assessments done prior to investing to ensure that commercial real estate is safe. To get more information on environmental site assessment, go to our website.

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Submitted by: Jeffrey G. Wells

Your provincial health insurance plan will cover a portion of your expenses related to meeting your core health care needs. You can expect limited coverage for hospital care, prescription medications, vision and dental services, along with a number of medical devices, such as hearing aids and prosthetics. The problem is, a lot of consumers rely on their government plans without realizing how limited their coverages are. When they need treatment or other health-related services, many discover their out-of-pocket expenses are much higher than they expected.

Another limitation of provincial plans is that they do not allow you to tailor your coverages to accommodate major changes that occur in your life. Getting married, starting a family, and entering retirement pose unique considerations with regard to your health care needs. This is one of the reasons supplementary health insurance is becoming increasingly popular. Plans can be designed with the specific coverages you need. With this mind, we’ll take a brief look below at several life stages, and explain how supplemental coverage can be valuable during each of them.

Your Health Insurance Needs As A Young, Single Person

While you’re in school, you may be covered by your parents’ health insurance policy. But realize your age will affect your eligibility. For example, your parents’ coverages will not extend to you if you’re over 25, even if you are enrolled into college full-time. Depending on your circumstances, it may be time to start looking for your own plan.

Most basic supplemental policies cover a portion of the costs related to dental services (checkups, x-rays, fillings, etc.). They also offer coverage for medications. Consider that a starting point. You can add specific features, such as vision care and chiropractic services (to name a few), as your needs dictate.

As a side note, it is also worth checking with your college or university regarding any coverages it offers. A student health plan might provide everything you require.

Factors To Consider When Getting Married

When you get married, review your employer’s health care plan as well as the plan offered by your spouse’s employer. Note the coverages provided by each plan as they extend beyond those offered by your provincial health plans. You and your spouse may have specific needs. For example, you might require replacement contact lenses or prescription medications more frequently than your government and employer’s policies allow. Or, your spouse may require limited homecare services not provided by your province or her employer.

If one of your employers’ health insurance plans meets both of your needs, consolidate under that single plan. If you find that neither employer provides sufficient coverages, consider purchasing a supplementary health insurance policy.

Starting A Family And Raising Children

Once you have children, you’ll need to consider their unique health care needs. Infants and toddlers, in particular, often require frequent trips to the doctor, and in some cases, the hospital. Young children too can require hospitalization and treatments for a variety of circumstances.

Check whether your government health plan is adequate. If you notice gaps in the coverages your family needs, check to see whether your employer’s plan covers them. Many parents eventually buy supplementary health insurance plans because they can customize them to accommodate their families. While there is an additional cost in the form of premiums, the cost is often dwarfed by the money they save for health care services over the long run.

Your Health Insurance Needs During Your Senior Years

Once you enter your senior years, your health care costs are likely to rise. Seniors are usually encouraged to visit their doctors more often to keep tabs on potential medical issues. They may also require more medications, as well as hearing aids, special nursing services, and a variety of medical equipment.

In many cases, government health insurance fails to provide sufficient coverage for these and other needs. Additionally, because seniors are usually retired, they are unable to rely on their former employers’ health plans. Given these circumstances, a supplemental health insurance policy can prove to be valuable.

An “enhanced” plan can offer numerous services, including those related to dental, vision, and homecare. They can also be designed to provide specialty health services, such as those offered by chiropractors, massage therapists, acupuncturists, and even speech therapists. Many seniors will find such services beneficial to their long-term health and comfort.

If you have relied thus far on your provincial health insurance coverage, realize that it may be inadequate when the time comes to use it. Shop around for a supplemental health plan that meets your family’s needs at a price that fits your budget.

About the Author: Jeffrey Wells is a contributing writer for

Kanetix

, a website which compares prices on a wide range of financial products including insurance (

Great supplemental health insurance rates!

), mortgages and credit cards, with a wealth of information to help visitors purchase the best products for their needs in a highly secure environment. Fast, Friendly & Easy-to-Use.

Source:

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