Beware of this before buying your first aging multifamily property!
!!! Check Fire Code Before Buying Multifamily
Older multifamily buildings can look like amazing deals… until you pull a permit. The city can require you to upgrade fire-safety elements that no longer meet today’s code, even if the building has been legal for decades. Common issues include:
• Non fire-rated walls between units
• Missing fire blocking or separations
• Exterior walls that don’t meet current fire-resistance standards
• Other fire-safety items inspectors must flag
When these upgrades come up, the most effective and least disruptive solution is often using fire-proof / intumescent fire-resistant coatings. These coatings can be applied directly to existing drywall or surfaces and expand when exposed to heat, creating a protective barrier that helps meet required fire ratings without tearing open walls or rebuilding structure. For many investors, this can be the difference between a deal that stays viable and one that blows up the budget.
Don’t miss this fire-code enforcement, it can absolutely make or break your first multifamily purchase so check out FireFree Coatings and Click Here to Learn More!