Retrofitting Increases Your Property Value

Soft-Story Retrofit Increases Your Property Value

Many properties, residential, apartment and commercial buildings have what is called soft-story status. This term is used for describing any building that has habitable spaces or rooms above garages, as well as a porch or carport area that was not particularly designed to transmit lateral or shear forces to the story on the top of it. Failures of the types of structures with soft story conditions may cause loss of human lives during a major seismic activity. So many countries of California are now drafting ordinances to require retrofitting of the soft-story buildings, which also increases your property value.


Economic Benefits Of A Retrofit

Helping the communities around the country decide whether a seismic retrofit program was needed, extensive research was conducted and compiled years of data to create and develop a standard benefit or cost model. 
It should come as no surprise, that so many existing buildings were not projected to be seismically resistant and they all may cause a great loss of human lives. However, some communities are looking to introduce a seismic retrofit program for economic reasons, for example, a reduction of property damage sustained during a major seismic activity.

One of the most common questions that city officials ask is ''is it worth it?" Retrofitting the existing structures of the city is a hard thing to decide for many communities.
Willing to help make these decisions officials need to look at engineering capabilities and economic analysis, as well as the current societal trends. All experts agree that strengthening existing buildings has many advantages and benefits for the future of any community.

Less Loss Of Building Function

Now we are going to face some facts about the loss of functionalities of the building due to an earthquake and the less loss of building functions thanks to retrofitting. So if your commercial buildings collapse during an earthquake, you are going to face a notable financial loss. You can not perform your daily businesses when your building is not functioning. ou can not collect rent on units that are not livable if you are an apartment owner. So it is important to understand that having your building retrofitted will increase the building’s functionalities.

One of the so many reasons that Los Angeles created that program of retrofit, was to increase the resiliency of the city. That was defined by how quickly a business can bounce back after a major earthquake. So the LA soft-story retrofit companies increase the value of your building through developing its functionalities during, as well as after an earthquake.

How Else Retrofit Can Benefit Your Building?

You can reduce the costs of your insurance premiums. Probably it is good news as long as, during the recent several years, the cost of earthquake insurance has grown high enough. However, the building that has been retrofitted to be more earthquake resistant tends to be less expensive to insure. Another plus - if you are in the market for selling your property, the potential owners will be more likely to choose your goos, knowing that the retrofit had already been done.

Soft-Story Retrofit benefits

Repair Costs

The last large earthquake that hit Los Angeles cost property owners millions of dollars for repairs. It is possible to reduce the repair costs significantly by simply complying with the mandatory retrofit. The main purpose of the seismic retrofit is to strengthen the fragile parts of the buildings so it will be able to withstand the massive forces of earthquakes.

Many of the buildings are able to make it through a minor quake without any repair work. Yet the United States Geological Survey is predicting a massive earthquake within the next 50 years. It may sound like you have a lot of time until the time, but nobody knows exactly when the next earthquake is going to attack.

Soft Story Retrofit Program

From the recent earthquakes, multi-story buildings with open front or weak wall lines performed poorly and collapsed. These kinds of structures are called “soft-story’’, such as buildings with tuck-under-parking.
The purpose of the mandatory soft-story retrofit program, under Ordinance 184081 and Ordinance 183893, is to lower structural deficiencies through the most feasible and economical method.
Soft-story buildings that are most vulnerable have been identified with the below-mentioned criteria:

  • Built under building code standards enacted before 1978

  • Contains open floor spaces such us ground parking and so on

  • Consist of two or more stories wood frame construction

Life Safety for Occupants

In the earthquake that had happened in 1994, 60 people lost their lives. Many of the victims’ families sued the property owners and they won. To retrofit your building now can save thousands of dollars and many human lives. An earthquake-proof building will be more attractive to potential renters as well, thus increasing the value of your property, especially in Los Angeles.
So, whether you own an apartment complex or a commercial office building, the safety of the people that are working or living in your building must be your first priority. Buildings that are already retrofitted for being more earthquake resistant, will help to prevent death or serious injuries within the coming large seismic activities.

What Army Of Builders Offer

If your building is among the mandated ones completing a soft-story retrofit by a Los Angeles soft-story retrofit company, Army of Builders offer you get started. When you set up an initial consultation, our professional contractors will come to do an inspection of your property to assess the current conditions. Then we will draw up a detailed work plan about the modifications that need to be done. For more Soft-Story Retrofit inspections and we have a whole article dedicated where you will find step-by-step work plannings. 

Considering the difference in sizes of buildings, it may be tempting to just choose the least expensive contractor. To get the job done well, you will probably want to hire seismic retrofitters, who specialize in the soft-story retrofitting. 
Always know that your future savings and your safety are more important than the cost of a project. If you are in Los Angeles, let the Army of Builders take care of your future and our professional company will do your seismic retrofitting.