Important Reasons Why It Is Vital To Retrofit Soft Story Buildings
Soft stories are an tremor peril and could result to a very extensive loss of asset, profit and the worst of all lead to the loss of lives. 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. There are times when the tragedy is very ruthless making it even not to be manageable by the natural disaster management team. Make sure that you have taken the important steps to retrofit your building as soon as possible if it has 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
There is a law signed making it a must for the soft stories buildings to be retrofitted after some houses with weak floors claimed some lives after an earthquake.
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 codes states that, the apartment owners are responsible for any loss of life and damage to property inside their buildings.If such a thing happened to your property due to ignorance, the problem could make you to face huge liability losses. 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.
It saves you money
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
If you reinforce your soft-story building, expect lower seismic insurance premiums.
Save on interest
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.
Additionally, you will also be able to market your building well to the renters as this will also be an additional point.