The Los Angeles Times reported that the Los Angeles City Council signed into effect the nation’s toughest earthquake laws to date and Orange County may follow suite.
These laws are designed to reinforce wooden apartment complexes built atop carports and brittle concrete buildings in which over 65 people have perished in past L.A. earthquakes. The laws are strict, and it is estimated that 15,000 buildings will require renovation. This may just be the drought-quenching rain California real estate investors have been looking for.
Think we can all hear the horrified shrieks of income property owners everywhere; after all, they’ve fought City Hall on this retrofitting for two decades.
Under the new law, owners must retrofit the wooden apartment complexes (of which the city has already identified 13,500 in need of this upgrade) within seven years, and the concrete buildings (1,500 of which have been identified) within 25 years. What’s worse for property owners? The city expects them to foot the bill, which is estimated to range from $60,000 to $130,000 for the wooden apartments and millions of dollars for the concrete building rehabs.
· Gas line Emergency Shut off Valve
· Add & Secure Flexible Gas lines
· Brace/Secure Chimney
· Anchor & Secure Cripple Walls & Foundation
· Brace Water Heater & or A/C units for Earthquake compliance
· Secure Loose Roof Shingles & Tiles
· Secure Block Walls
· Fill Leaks & Cracks in pools & foundation