Recently my friend had to complete a lead paint abatement of an income property because someone in his building tested positive for lead poison. He was required to abate both apartments (entire building) and this was extremely costly. I think he said somewhere around 80k to fully complete the lead abatement. 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.