Lead Based Paint

[Lauren Lee]

Should this keep me from buying a property?

[Adam Johnson]

Originally posted by @Lauren Lee:

Thank you all for the input, I think we have decided to pass on the property.. It isn't going to be a good fit for what we are looking for.

 I am not familiar with your area, but because you are in the northeast like me, I will assume that a lot of your housing was built pre-1978 when lead-based paint was outlawed.  Every property I own falls into this category.  It is DEFINITELY something to be aware of, but doesn't have to be something to be afraid of either.

There are specific disclosures required regarding lead paint risks when renting.  They are pretty simple and straight forward.  Along with that, you are required to give out a booklet, which is  a free download from the EPA website I believe (I have had it so long I can't remember where I got it).  There are also extra steps required when doing repairs.  Familiarize yourself with the RRP laws, info. should also be on the EPA website.

In most instances, you must simply make a rental unit lead SAFE, not necessarily lead FREE.  There is a HUGE difference in both cost and scope of what is required for each.  Lead safe could simply involve painting over old lead paint with latex.  You do NOT have to strip ALL paint in order to be lead safe as advised by a previous poster.  That is only a requirement if you are required to ABATE the lead paint, aka remove it.

I would advise you to consider ALL potential investments and know as much as you can about potential risks.  Asbestos is another potential risk.  Understanding it better will help you make more informed decisions.

Good luck.