Preserve Your Rental Income By Reducing the Impact a Soft Story Retrofit has on Tenants

Table of Contents

Table of Contents

Many property owners delay much-needed Los Angeles soft story retrofits because of their impact on their tenants. To be honest, though, it’s not just a soft story retrofit that property owners avoid; it is any kind of renovation or building repair that requires the construction to majorly impact their tenants. Any major impact to tenants could result in a possible loss of rental income as the tenants might decide to terminate their lease early.

Property owners are not just concerned with the potential loss of rental income; they are also concerned with any extra costs these major projects can have. When retrofitting a building, extra expenses might include creating additional parking areas because the current spaces won’t be available and put certain precautions to help minimize any kind of impact on the tenants. In extreme cases, these extra expenses include paying to move current tenants to a different location for the project’s duration.

Soft Story Retrofit Projects Should Keep Tenants in Mind

As a property owner, you want all of your construction projects to be designed with your tenants in mind. You want all of your planned projects to have minimal impact on your tenant’s way of life. Here at Retrofitting 360, we try to plan all of our soft story retrofitting projects in a way that allows your tenants to stay on-site rather than having to relocate.

Keeping your tenants in place means no disruption in rental income for you and means your tenants can go about their lives as normal. Retrofitting 360 soft story retrofit projects are engineered to create minimal disruptions.

However, in extreme cases, tenants may have to relocate. In some Los Angeles areas, regulations require us to relocate all tenants if the property is considered uninhabitable for longer than 30 days. Other Los Angeles regulations require tenants to relocate if the project extends beyond the original completion date by more than 30 days. When planning your project, your engineer will keep these regulations in mind.

Does Your Los Angeles Soft Story Retrofit Engineer Have Habitability Experience?

The cost of having to relocate your tenants during a soft story retrofit project can be astronomical. Most property owners prefer to keep their tenants in place as a way to keep the overall cost of the project down, but they also prefer not to have their rental income interrupted. If you are planning a retrofitting project for a soft-story building, you want to inquire about your tenants’ impacts when getting your bids.

Questions to ask your seismic engineer include, but not limited to, are:

  • How long will the soft story retrofit project take to complete?
  • What days of the week do you plan on working and what hours?
  • How do you plan to accommodate the tenants during the course of the project?
  • Will parking be affected throughout the duration of the soft story retrofit project, or will it only be affected during the day?

No matter what other questions you ask, your goal for your soft story retrofit project is to find a retrofitting contractor who has a plan in place to disrupt your tenants as little as possible. The best retrofitting contractors will provide you with a detailed plan for your Los Angeles soft story retrofit project. The plan will include details in regards to maintaining a safe work environment, what they plan to do with parking during the day and at night when construction is done for the day, how they plan to cover any trenches, and much more.

Before hiring a retrofitting contractor, talk to them about a daily clean-up plan. The construction site should be cleaned up each day once work has been completed. Daily clean-up should not be limited to picking up trash and extra materials; it should also include the proper storage of all power tools and materials.

As a property owner, it is your responsibility to talk to the city of Los Angeles in regards to habitability requirements. Our team of experts at Retrofitting 360 is also knowledgeable about these regulations and will happily discuss them with you during our free site evaluation.