May 19th, 2010 categories: For Buyers
If you are buying old Honolulu homes or condos for rehab or remodel, then you want to pay attention to this blog post. Many sources have been reporting new EPA rules regarding working with older paints and products that contain lead. A recent Wall Street Journal article does a really good job of outlining the potential cost issues associated with the changed rules.
"To comply with the new regulation, those working on older sites will need to invest in lead-testing kits, plastic sheeting, respirators, protective clothing and other lead-safety materials."
"At least one worker involved in such projects will also need to become certified, at a cost of $300 every five years, and pay out-of-pocket for eight hours of training. Those who don’t comply could face fines up to $37,500 a day."
"But small businesses with limited cash flow, including home-repair providers, property-management firms and even landlords, say that while they support the ruling’s health benefits, they are concerned about its costs." CLICK HERE TO READ THE ENTIRE ARTICLE
Given the additional cost of abating a lead problem, you will want to budget for determining if there are lead issues in a potential investment. Once they are known, then you can make accurate removal cost estimates, that could be quite substantial, if you have to fully comply with these rules.
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