Commercial oil tanks once provided a method for heat and transferring energy into buildings. With the emergence of more effective and efficient methods to achieve this, commercial oil tanks began to lose their purpose.
Rather, it has become critical and highly recommended to remove your commercial oil tank. Waterline Environmental has compiled a list of 5 reasons why you need a commercial oil tank removal.
1. Save on costs by removing your commercial oil tank
As mentioned above, newer and more energy-efficient systems are now available, removing the need for commercial oil tanks. By choosing to carry on using an oil tank, you face high maintenance costs in addition to the expensive fuel required to operate the oil tank.
Moreover, once an oil tank has been detected on your commercial property, removing it immediately and prior to any further damages can help save costs. Removing an oil tank may feel expensive upfront, but a leaked or damaged tank will be a lot more costly in the long run due to remediation and complications.
2. Complying with city bylaws
In addition to underground oil tanks being costly, it is also against your provincial and city regulations to keep an unused one.
Ontario regulations require you remove unused underground storage tanks as outlined by the Technical Standards & Safety Authority Act (TSSA).
3. Health and safety
Keeping an underground oil tank on your property can potentially impact the environment, which, in turn, can affect the individuals on the property and the surrounding area.
If the oil tank begins to erode or leak, this will harm the environment around the tank. The oil can quickly begin to contaminate the soil, water, and air as a result. Additionally, as previously mentioned, the contamination will substantially increase the cost of removal as it will require soil remediation.
4. Property value increases
When it comes time to say goodbye to your property and put it up for sale, the underground oil tank may make that process more difficult. While you might have managed to keep the underground oil tank, more and more potential buyers refuse to purchase properties with them.
It becomes a financial burden for future buyers and may bring down your property value by hundreds of thousands of dollars. Moreover, if there was a neglected leakage, as the seller you may get in trouble for negligence.
5. Preparing for renovation
Lastly, an underground oil tank may interrupt your plans for renovating your property. One issue is that the underground oil tank could hinder the construction work. Another, even larger, issue is that an underground oil tank can leak as far as to your building, effecting the price of the current work or ruining any renovation you may conduct.
Whether an issue arises before, during or after, an underground oil tank can cause some serious harm. It is important to remain proactive with your oil tank whether you want to keep it, inspect and maintain it regularly, or have it removed.
Why choose Waterline Environmental?
Contact us by reaching out at 905-876-8298 or fill out our form.