I am looking for my first rental property and one of my criteria is for the property to be newer than 1980 to avoid the lead paint issue. Is this a good criteria to have or is there an easy way to handle the lead paint situation?
there is a free downloadable pamphlet and waiver, it should be a part of all of the packet of documents to review and execute with all tenants.
On the E Coast I think you would risk losing out on some great opportunities.
Pamphlet and waiver-
Updated almost 3 years ago
Unless your in MA (or maybe CA?) it’s really a non-issue.
You’ll need to sign and have the tenant sign an EPA form that states you don’t know if there is lead (unless you test, you don’t know, even if you’re pretty sure based on the age) and provide a pamphlet about lead in your home.
But as long as there isn’t construction dust or chipping paint, there’s very little risk.
The only time lead paint is an issue is when renovating because the dust can be ingested. Lead paint is not very prevalent so I wouldn't sweat it. Have the home tested during your inspection phase; if lead paint is present, you can always request for it to be remediated or walk away from the deal.
@Ben M. there a millions of homes in America built before 1978 that may have lead based paint somewhere on them. Why would this be a problem for you? LBP is not hazardous if undisturbed and if you paint over it (encapsulate) it virtually negates any hazards that my be present. LBP is nothing to be afraid of and simply needs to be disclosed to the tenant or buyer that the property was built prior to 1978 and may contain LBP. That's it.
Well your really going to limit your pool of potential properties by doing that . It’s not a big deal in most cases . Get them to sign a lead paint disclosure paper so they can’t sue you