We have never used "lacquer slapped over water damaged and moldy flooring." We have been gradually, over the last 2 years, refinishing the wood floors and sealing them with polyurethane. This entails removing all of the old finish by sanding it down to the original wood, then painting polyurethane on top to protect the floor. The polyurethane does have a mild odor for a period of time. All tenants are given an opportunity to inspect the apartment prior to signing the lease agreement.