What are the benefits of performing a seismic retrofit sooner than later?
Are seismic retrofits mandatory for commercial real estate assets? What if the properties are not located in a known earthquake region? Short answer is, no, seismic retrofits are not mandatory. However, the old saying pay now or pay later applies here! Many people have false assumption earthquakes only happen in California, although they are prevalent in CA, nearly ½ of the U.S. is affected by earthquakes while the entire country is susceptible to an array of natural disasters, view map below of disasters by region. The most cost-effective way to safeguard communities from natural disasters is to adopt and follow hazard-resistant building codes.
Disasters by Region in the U.S.
When it comes to the structural integrity of a building it is essential to get a seismic assessment to determine the risk and vulnerability of structural aspects of a building. Many factors play a role including:
RISK FACTORS
- Age of building
- Quality of construction
- Noticeable damage or excessive cracks or even unnoticeable damage
- Extreme wall openings
- Non-structural or unusual building elements
- Distance between structures
- Inadequate lateral support (crawl space/ pony walls/ tuck-under parking)
- Large openings in floor or roof diaphragms (skylights/ light wells/ clerestory)
Regarding commercial real estate assets, it is best to be prepared and mitigate as much liability and risk as possible especially since all regions of the country are affected by hazardous disasters. Below is a list of benefits to performing a seismic retrofit sooner rather than later.
BENEFITS OF A SEISMIC RETROFIT
- Mitigate Risk and Liability
- Increase Property Value
- Avoid Construction Cost Inflation
- Insurance Reductions
- Increase Marketability
- Resiliency and Tenant Retention
- Peace of Mind
Be prepared and have regular inspections to determine if seismic retrofits or structural strengthening is needed, https://saundersseismic.com/contact/.