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. This kind of hazard is very dangerous and it has caused a lot of problems and loss of important lives.Sometimes the disaster is so severe that even the natural disaster restoration team are unable to manage. Make sure that you have taken the important steps to retrofit your building as soon as possible if it has soft stories. You will have to reinforce your soft story structure against the frequent natural disasters to have the peace of mind and to enjoy the abundant benefits of doing it. Analyzed below are some of the reasons why you should make it urgent to retrofit your soft story building.
It’s the rule of the relevant authorities
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.
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 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. 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.
Save money
Retrofitting your building on time before it becomes a must to every property owner is going to save you a lot of money.
You buy earthquake insurance premiums at a lower cost
Having retrofitted your home will make you to buy the earthquake issuance premiums at a much lowered price for your earthquake indemnity provider will decide that you have low possible exposure because your building has been toughened to protect it against earthquake harms.
Your loans will have minimized interest rate
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.
Attract tenants
Additionally, you will also be able to market your building well to the renters as this will also be an additional point.