Significant Benefits of Retrofitting Soft-Story Structures
Having a soft story building is like having a pending danger that you are sure is going to happen any time that can claim some lives, damage the asset and cost you a lot of resources in the long run. 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. Those who have experienced this type of problem have said that it is one of the worst tragedies that should be avoided in the future. The problem can be so harsh making it unmanageable even by the experts.If your building has soft stories, do not hesitate to retrofit it as soon as possible. It is very important to retrofit your soft story structure. Analyzed below are some of the reasons why you should make it urgent to retrofit your soft story building.
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.
Minimize liability losses
You could be legally responsible for damages valuing a lot of money if your soft story structure falls down during an earthquake leading to the injuries and deaths of your tenants or even the innocent bystanders. The law requires that the owner of the property shall be held responsible for any losses of the lives of the renters or the belongings of the tenants and should pay off everything. 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.
It saves you money
You can save money by having the retrofitting done before it becomes mandatory.
You buy earthquake insurance premiums at a lower cost
The building that is retrofitted has lowered insurance premiums than the ones that has not retrofitted.
Your loans will have minimized interest rate
Having retrofitted your soft story building also will make you to apply loans at a lowered interest rate.
Ease of marketing your apartment
When you have retrofitted your building, the prices of renting your building will not be the same as the one of the one who has not retrofitted.