The new lead paint law went into effect on April 22, 2010. The law does not have a direct impact on real estate professionals, however, it does affect contractors and renovators by requiring that renovations done on homes 30 years or older be done by a certified contractor. Contractors who continue to perform these renovations without the necessary certification face fines of up to $37,500 per day.
The law does not apply to “do-it-yourselfers” and has minimal impact for realtors. There are no new forms, or revisions to existing forms necessary. Realtors who are also property managers or owners will need to be trained in new lead safe work practices, and be certain that any contractors hired are certified. And realtors need to be aware of the qualifications of any contractors that they refer to clients, especially those with older homes.
The exceptions to the lead paint law as of the current time include the house being built after 1978, the work involved is not extensive and will disturb less than six square feet for an interior or 20 square feet for an exterior, or if the home tests lead free by a Certified Lead Paint Risk Assessor.
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Scotti and Associates are Commercial Real Estate Brokers, Residentail REALTORS, and Appraisers located in Providence RI with comercial and industrial property and homes for sale in Rhode Island and Massachusetts. They are also provide expert real estate appraisals in RI, MA, and throughout New England.
Contact them today at 401-421-8888 or visit them on the web at http://www.ScottiRealEstate.com
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