Locate the source of the rotting wood. Window frames or doors in a damp basement are prone to mildew and rotting. Brown spots on a ceiling or wall may indicate water dripping behind the drywall, causing the rotting wood smell. Outdoors, decks or even wood mulch may cause a rotting wood smell.
Fix dripping pipes or seal leaks, and run fans, open windows or turn up the heat to dry wood out. Run a dehumidifier if the rotting wood smell is caused by excessive humidity.
Mix 10 tablespoons trisodium phosphate with 1 gallon warm water in a bucket. Scrub the damaged wood with this cleaning solution to remove mildew. Allow the wood to thoroughly dry.
Open windows and run fans to remove the odor of rotting wood. Once mildew is removed or the rotting wood replaced, the odor dissipates within a few days.