Have you noticed a gentrifying Los Angeles? Over the last decade or two much of Los Angeles’ downtown has been gentrified. Gentrifying, sometimes referred to as upscaling, can be defined as taking older properties and improving and renovating them so that they appeal to a broader range of potential renters or buyers. Gentrification can apply to many kinds of property. Often when a neighborhood begins to gentrify for residential use, commercial properties also upscale to meet the demand of the new tenant demographics. These projects are often use “outside the box” design to take full advantage of existing properties. Continue reading
Nothing can turn a good property investment into a nightmare faster than discovering serious code violations that require unplanned and expensive repairs. The trouble usually starts with tenant complaints. When tenant complaints are ignored or poorly managed with substandard repairs, these situations can quickly snowball into major code enforcement violations, fines, accidents, evacuations, loss of life, litigation and even criminal negligence.
The building codes are different in every town, city, county and state. They are living, breathing documents that continue to change as new materials, products and construction techniques continue to evolve. Other contributors to changes in building codes are more subtle, such as socially recognizing that people with special needs must have equitable access or the true consequences of natural disasters such as floods, tornadoes and earthquakes. Continue reading
Los Angeles, California now requires Seismic Retrofitting.
As Californians, many of us have been waiting for “the big one” for years.
In 2015 Los Angeles set the nation’s strictest earthquake regulations. 15,000 of the city’s buildings will need to be retrofitted so that they can withstand the shaking of severe earthquakes.
Seismic retrofitting involves the process of securing buildings that may not have been adequately anchored prior to current retrofitting standards.
Most of the retrofitting will need to be done to the city’s apartment-style structures.
Smaller and medium-sized complex owners may not have the capital to complete their projects, but the city is offering various programs to help fund the cost. Also, many contractors have banks behind them and can offer financing to help fund the retrofit process. Continue reading