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. If the sheer movement during the quake is predominantly tough, the feeble supports in the soft stories could cause the above floors to plunge on the lower floors squashing anything or whoever is on those lower point.This type of structural failure is very dangerous, it is evident how this problem of soft-story have done damages causing a lot of losses. 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. There are numerous reasons why you need to retrofit your soft stories building. Considered below are the significant benefits of reinforcing your soft-story apartment against the earthquake.
It’s the rule of the relevant authorities
Because of the rise of the soft story building collapsing and claiming some innocent lives as well as destroying property worth millions of dollars, the law was instituted stating that every home that has soft stories has to be retrofitted.
Reduce the losses
When your soft story building collapses due to an earthquake, all the accountability of making sure that you have compensated the affected people will cost you a lot of money. 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. Be wary of facing responsibility losses by retrofitting your apartment. You should not risk losing lives at the expense of having an insurance cover expecting that the insurance will compensate the losses caused by the earthquake to your property.
You can save money by having the retrofitting done before it becomes mandatory.
Lower earthquake insurance premiums
The building that is retrofitted has lowered insurance premiums than the ones that has not retrofitted.
Low interest on loans
Apart from receiving lowered lower earthquake insurance premiums by properly reinforcing your building, the banks are likely also going to reduce the interest rates of the loans you are aspiring to apply.
More money on rent
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.