Today, we know all about the dangers of lead in paint. But back in the day, builders used lead-based paint because it dried faster and looked good longer. However, in 1978, lead was banned from being used in paint production. Unfortunately, homes built before the ban may still pose a health threat as this paint begins to deteriorate. Last year, the State of New Jersey put forth new lead-based paint inspection requirements for landlords. So, if you own a rental unit at the Jersey Shore, you need to know how these new requirements affect you in order to ensure that you stay in compliance with the law.
Lead-Based Paint Inspection Requirements for NJ Rentals
On July 22, 2022, owners of single-family and two-family rental units in New Jersey built before 1978 must inspect their units for lead-based paint. The initial inspection must be performed no later than July 24, 2024 or when the current tenant vacates the property but before a new one inhabits it (whichever comes first). After that initial lead-based paint inspection, the property must be inspected every three years or whenever tenant turnover occurs (again, whichever comes first). If lead is found in the paint during the inspection, it must be remediated at the owner’s expense. Depending on the type of remediation, future inspections may not be required. If you have any questions or want further information about this new requirement, please visit the New Jersey REALTORS® website here.
New Jersey ANCHOR Program
Here’s another friendly reminder that you still have time to apply for your one-time payment through the New Jersey ANCHOR Program. They extended their deadline for filing to February 28th, 2023. If you rented or owned a New Jersey property on October 1st, 2019, you may be entitled to a one-time relief payment of $450 (for renters) or $1500 (for owners). Don’t miss out on this opportunity to put cash back in your pocket. Apply for your refund today.
Sherri Lilienfeld, Apex Prime Realty, Your Source for Jersey Shore Real Estate