Important Reasons Why It Is Vital To Retrofit Soft Story Buildings
Soft stories are a seismic hazard that could result to a very substantial loss of your investment, your earnings from the rents as well as claiming of the lives in case something worse happens. What happens is that, when the worst happens, the stories that are above the ones that are down will just squeeze together so this means that it is impossible save the belongings inside the building or even save the lives of people who are victims. This kind of hazard is very dangerous and it has caused a lot of problems and loss of important lives. The problem can be so harsh making it unmanageable even by the experts. Don’t be adamant to call the seismic soft-story retrofit reliable contractors to reinforce your building if it as soft stories. It is very important to retrofit your soft story structure. Considered below are the significant benefits of reinforcing your soft-story apartment against the earthquake.
The law states so
By retrofitting your building, you will be meeting the requirements of the building code that was put in place after the soft stories destroyed a lot of property and claimed some lives.
Reduce the losses
Having your building collapsing due to the earthquake can cause a lot of damages that can make you to use a lot of resources to pay for the damages caused.The codes states that, the apartment owners are responsible for any loss of life and damage to property inside their buildings. This is a problem that can cause to have vast accountability losses.Having the insurance to cover you doesn’t mean you be irresponsible and not consider the lives and the losses that your building can cause in the future.
Retrofitting your building on time before it becomes a must to every property owner is going to save you a lot of money.
The lowered seismic cost of premiums
The building that is retrofitted has lowered insurance premiums than the ones that has not retrofitted.
Save on interest
A loan taken out on a soft story building has the possibility of having higher interest rate than the one taken out of a property that has been retrofitted.
More money on rent
Additionally, you will also be able to market your building well to the renters as this will also be an additional point.