There continues to be more news in the seacoast area of NH regarding lead paint issues. Important for real estate investors to stay informed about federal lead paint requirements. A couple years ago, A colleague of mine had to complete a lead paint abatement of an income property. Sadly, a tenant had tested positive for lead poison. He was required to abate both apartments (entire building) and this was extremely costly. He was able to obtain some grant money from the state of NH but overall it was very expensive and emotionally draining. More importantly, the lead levels dropped significantly after the abatement.
In this case, fortunately he had the tenants fill out the federally mandated lead paint form and issued the lead paint informational packet prior to leasing. This form and packet is required for sales as well. Non compliance is serious and the landlord or homeowner can be held liable. The fines for non compliance are very severe.
This federal law is broad and touches on many factors. Just too much to try and cram into a blog. However:
is a good site for more information.
* Lead paint disclosures and law applies to homes built prior to 1978. Also, if your concerned about lead paint in your home you can purchase a lead paint testing kit at many home construction stores.