Corporate Housing 101 Financial, Legal and Tax Property Management Toolbox

Corporate Housing Landlord Responsibility: Part I of III

You could be breaking the law and subject to a fine or lawsuit if you don't know about Lead Based Paint disclosure requirements: Lead based paint disclosure - If your corporate property was built prior to 1978 then Federal Law requires that you notify tenants prior to arrival of any possible problems with lead paint in the property. This law requires that potential renters of housing built prior to 1978 receive certain information about lead and lead hazards in the residence prior to becoming obligated to rent, and provides the opportunity for an independent lead inspection for buyers. Corporate Housing Landlords must give prospective tenants of buildings built before 1978:

• An EPA-approved information pamphlet on identifying and controlling lead-based paint hazards, Protect Your Family From Lead In Your Home, also available in other formats and languages
• Any known information concerning lead-based paint or lead-based paint hazards pertaining to the building.
• For multi-unit buildings this requirement includes records and reports concerning common areas and other units when such information was obtained as a result of a building-wide evaluation.
• A lead disclosure attachment to the lease, or language inserted in the lease, that includes a "Lead Warning Statement" and confirms that you have complied with all notification requirements.

Get a PDF of the EPA pamphlet: Protect Your Family From Lead In Your Home.