Owning residential rental properties means you always have to stay on top of local laws and regulations. Effective July 22, a new law regarding lead paint went into effect for residential rental properties. It is essential for property owners to understand these laws and how they may affect their properties.
New Jersey Lead Paint Law for Residential Buildings
The new law, which protects tenants from exposure to lead-based paint, requires landlords to inspect for lead-based paint in a residential rental property built before 1978 unless exempt. Exemptions include seasonal one- or two-family homes rented for less than 6 months annually by tenants without consecutive lease renewals. The inspection must occur at the earlier of either tenant turnover or two years after the law takes effect. The law applies to apartments, houses, and condominiums. If lead-based paint is found, the landlord must make the property free of lead or safe to prevent exposure to tenants. Failure to comply with these laws can result in penalties.
Get Your Properties Tested
For property owners, it is important to get any pre-1978 properties which do not qualify for an exemption tested for lead-based paint in accordance with the law. In addition, you should have a plan in place if lead is found. Stay informed about state and local laws, as some areas might have stricter regulations.
Considering this new law, property owners should consult with a real estate attorney to ensure compliance and to understand their rights and responsibilities as landlords. Riley & Gutman can help property owners navigate the new laws and develop a plan to ensure compliance while minimizing potential costs. Give us a call today.