Updated over 8 years ago on . Most recent reply
Lead Paint Certified Contractors
Tonight at our investor meeting we heard an ignored tale. One of that of the Federal and local regulations on rehabs have been around for 15 years and NO ONE has been applying them EXCEPT for the new trendy group that keeps us all on our toes...new gov't?! NO!!!!
The professional tenant.
If a child tests positive for lead poisoning...at any time during their life and they have lived in a home of yours DO expect someone to be come knocking on your door and be wanting to perform a lead inspection. And they can. In IL we follow the EPA guidelines, but...any child having lead poisoning is and will be under investigation for child abuse. SO!
I love homes older than 1978. I love my cars old too. But, in this litigious world we live in you should know your state laws in regards to your liability. Because you vs. a child with lead poisoning...
You will never win.
And those of you who are crazy enough (including me) to own in Maryland...don't get me started on your lead inspection process.
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@Account Closed I don't know about the state in general but in Baltimore city the property tax rate is very high and the transfer tax is about 3% (the 3% may be statewide) Property taxes are set by the counties.
That said Baltimore City property is I feel under-priced for the intrinsic value of what you are buying. I believe we have one of the best rent to price ratios in the country.