Please take a moment to learn about new regulations that will go into effect on April 22, 2010. The EPA is beginning its RRP rule, whereby any person performing repairs on properties built prior to 1978, must be certified renovators, and an EPA registered firm, if the type of work fits within the scope of the rule, (and most work will).
The rule says that any person performing work for profit… etc,… the interpretation is that investors doing their own work, and landlords working on their own properties are considered working for profit. any contractors you hire, including their subs will need to comply.
This will add significant cost to renovations, repairs, painting, window replacements, etc.
Please do not ignore this, as the fines are huge. see the EPA.Gov website for more info
Kevin
I was recently involved with very issue. It appears that this only has to do with lead base paint. You would have to become a certified renovator if you are working on houses that were built before 1978 and replacing windows or chipping sanding or otherwise disturbing the paint seal. You can paint over the old paint using modern latex to encapsulate the potential for lead base paint. This new law will affect renovations but only as it pertains to lead base paint.
redhawk
Redhawk,
you are correct, but one distinction is important, you will need to assume it is lead, unless you prove it isn’t lead, which means testing for lead, and if you end up with a positive result, the rule mandates notification in writing of the finding, thus eliminating the “unknown” option on disclosures.
Renovation on encapsulated paint will still be governed by this rule, if you are disturbing more than 6sf interior, or 20sf exterior. On Hud projects, the rules are in effect for 2sf interior, and I am quite sure it is 10sf on the exterior.
Yes you can paint right over any surface for the sake of this rule, so long as you are not disturbing it in the process.
I hope you guys give this some serious consideration, as it will significantly effect the way you analyze deals. Properties that look good on paper, may not look so good, once you add in the extra cost that this is going to bring to many rehabs.