As of April 22, 2010, the EPA has a new lead-based-paint renovation rule that impacts anyone paid to perform work that disturbs paint in housing built before 1978. The EPA considers receipt of rent payments or salaries derived from rental payments as compensation. This means landlords and employees of property management companies who perform renovation activities must also comply wiht this rule.
Any activity that disturbs paint in pre 1978 housing is subject tot he rule. That includes remodeling and repair, electrical, plumbing, painting, sanding and scraping, carpentry and window replacement. FOr a copy of the "Renovate Right" pamphlet, go to http://epa.gov/lead
As a result of these new rules, I foresee the cost of repairs to older buildings going up considerably and may make it more difficult for Realtors to sell these homes to investors, which can result in decreased property desirability and may affect values negatively. SInce my buisness focuses on selling and managing investment property this information will affect which properties I would advise an investor to purchase. I will recommend properties built 1978 or after to my clients.
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