Interviewer: Welcome to Broker IPTV. Im here today with Ken Holbert and Ken is with Safe Objectives, Inc. Welcome to the show, Ken.
Ken Holbert: Thanks for having me.
Interviewer: In a previous conversation, we were talking about a new legislative item thats coming into, or propagating into, full force. Why dont you tell us about that?
Ken Holbert: Its the new Renovation, Repair and Painting Rule. What it encompasses is, April 22nd 2010, all firms working on target housing must be approved or accredited by EPA, and all renovators, a renovator, should be assigned by each company.
Interviewer: So now, being in real estate this is, what, what its like the feds are just throwing another thing in for us to look out here for and you are saying that this is called the RRP, which stands for renovate, repair and paint?
Ken Holbert: Yes.
Interviewer: And its an EPA compliance standard?
Ken Holbert: Yes sir.
Interviewer: Actually signed into law you said that back in 2008?
Ken Holbert: April 22nd 2008.
Interviewer: And coming into full force here, I dont think a lot of realtors are really aware April 22nd 2010.
Ken Holbert: No.
Interviewer: So tell me, what type of properties qualify for this RRP?
Ken Holbert: Target housing, which is any home that was built prior to 1978.
Interviewer: Okay prior, just like our old lead-based paint.
Ken Holbert: Yeah, but instead it excludes two things: one zero bedroom, or homes built specifically for the elderly or disabled that no child under the age or six resides at or is expected to reside at. Like elderly homes, you know, to say.
Interviewer: Senior homes?
Ken Holbert: Senior homes.
Interviewer: I see, senior homes and homes you said where there are...?
Ken Holbert: No child under the age of six as long as its under that senior home, no child under the age of six resides at or is expected to reside at.
Interviewer: Okay. And so other qualifying things anything prior to 1978, so tell me how what are we talking about here a whole room all the trim work what, what qualifies for this new RRP?
Ken Holbert: What it qualifies is when you are dealing with any component that has as lead-based paint on it and you can be dealing with several components. If you are disturbing a painted surface within a room of up to, or more than, six square feet, its covered by the rule. If you are disturbing less than six square feet, it is not. On the outside of the building its 20 square feet for the entire building.
Interviewer: For the entire building. So, if you are painting the house that you are going to have to probably work with an RRP-certified vendor?
Ken Holbert: Yes if you are doing any form of disturbing like sanding, scraping or anything like that to get it prepared for it.
Interviewer: All right, so flip properties--we buy a lot of flip properties and work with a lot of investors. You told me an interesting stat: 1940 it just guaranteed based on a HUD study about 85% of all the homes are going to have some type of lead-based paint.
Ken Holbert: Yeah that was then back in October 2008 by HUD and what they said was about 42 million homes in the United States contain lead-based paint and about 86% of those built prior to 1940 was 85% was lead-based paint. Between 1940 and 1969, 65% of the homes contained lead-based paint.
Interviewer: So bottom line is here April 22 for working with people that are buying older homes pre-1978. I think that lead-based paint testing and stuff is going to come a lot more into play now.
Ken Holbert: Yeah the, with the new rule coming out, a renovator or a company working and disturbing more than that six square feet must assume all components are lead-based paint unless they have it tested.
Interviewer: Right, so you just cant say, hey I dont know if this house has lead-based paint.
Ken Holbert: There is no longer that exclusion of you dont know you dont care. Now its if you dont know you are forced to assume.
Interviewer: Right. Well, hey Ken, great information, appreciate you being on the show today.
Ken Holbert: Glad I could be here.
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