Blondell Reynolds-Brown introduced a bill that will require landlords to pass a lead-base paint inspection test before being able to lease their property. As both a Realtor, an owner of a real estate office and a landlord of twelve properties, I find this bill to be ridiculous and unnecessary. If anything, I would question the motives of her campaign contributions and who would benefit from this bill and why it was introduced in the first place.
As a Realtor and Owner of RE/MAX Access, I have personally been involved with thousands of settlements where people have purchased homes all over the City of Philadelphia. In not one instance, have I ever seen one person test for lead base paint. If a buyer is not going to test for lead base paint and is paying anywhere from $50,000 to $500,000 for their new home, why are we forcing this upon landlords? The purchasor obviously did not see the benefit and it is obvious why. The majority of properties have been painted 10 times over if not more since 1978!!!!!
As an investor, all of my properties are completely rehabbed and updated. When I have a tenant move-out, I typically have the place repainted again. Why in the world would I need to call someone from the City to inspect a property for lead-base paint and pay them some fee - which will probably be expensive - walk in and out of my property - every time I have to rent it out? It makes no sense!!! And this is the case with the majority of investors! And then there will be the logistics of having to schedule and meet with someone - always a pain in the neck. And who will be conducting these tests? Another nightmare.
Most importantly, there will be the unintended consenquences if this bill gets passed. The real estate market is on fragile ground as it is. It is being supported by investors! With more regulation and red-tape, some investors just might say screw it and not buy any more properties in the City. Or other investors might just decide to sell. If this bill is passed, what will be next? A radon inspection by the City? A termite inspection? A made-up inspection by the City? We cannot afford a slow-down in this real estate market. If anything, we need incentives for folks to purchase, not penalties that make no sense.
What is most laughable is that the only properties where this might make an iota of sense is Section 8 properties since rent is subsidized by the City of Philadelphia. I found out yesterday that these properties are exempt as well as PHA homes. Hypocrisy at its best! Let's just do a money grab of the landlords, right, Mrs. Blondell Reynolds-Brown! My suggestion is stay in "education" or get more educated about real estate before introducing any bills in real estate and do not mask bills "for the children" when they are more in line with something else. When in reality, they may have something to do with your Ethics violations and this settlement agreement as a result.
So yes, I believe this bill is full of lead. As is Blondell Reynolds-Brown.
If it passes, it would be a loss for the real estate market. And outright tragic for common sense. We do not need money-grabs from the City of Philadelphia. We need incentives for investors to buy properties and provide quality products for housing. And we need people on City Council to "Get It".