Are You Guilty of the Ostrich Syndrome When It Comes To Lead Paint?

May 18, 2011 in Investing In Real Estate, Lead Paint

This Is Not A Strategy

 

Landlords and property managers; are you guilty of the “ostrich syndrome”? Don’t be tempted to stick your head in the sand when it comes to the lead paint rules better known as the RRP (Renovation, Repair and Paint Rule) which are now in effect. If you are doing that, it can lead to serious consequences for your business.

Sure, most everyone has heard of these requirements, but are you following them in your business?

 

Here's the Short Version

If you own single family or multi-family dwellings that were built before 1978 there is most certainly lead paint. Before you start renovating that investment property you must either be a certified renovator or you must hire a certified renovator to do the work. Failing to comply with this requirement can cost you tens of thousands of dollars.

According to the EPA, non compliance can mean fines of up to $37,000 per day per violation from beginning of the renovation. Now that’s a budget buster!

This new law not only applies to major renovations but also will apply to any work that is done in a structure built before 1978 that disturbs 6 square feet of interior paint (an area 2’ by 3’) or 20 square feet of exterior paint. This law also applies when replacing windows in your investment property.

 

Scary Stories

Below are a couple of links complete with “scary stories” about hefty fines that have been levied.

  • Thinking about replacing some windows or siding? Check It Out.
  • Have you provided your occupants with the lead paint brochure “ Protect Your Family from Lead in Your Home? If the answer is no, you could be fined. Click Here

 

What Can I Do?

Be sure your business is protected. In most states you can attend a one day seminar and become certified.

If you would like further information about dealing with lead paint in your investment property you can visit the EPA Site Here.