Everything is for sale at the right price. Yes, there was even the guy that sold his soul to the devil for eternal life only to find the trade to be a sentence. In noise control we have always stated that units for sale, such as a condo, require more noise control than apartments. In condo construction, the industry has always had a testing protocol. Just like in waterproofing, where the final step is a flood test, condo construction typically ended with an impact and airborne test (IIC and STC). The test is the developer’s way of telling the condo association that all of the units meet the building code and limit the liability of the developer going forward. We opposed that conversation by stating to developers that an apartment isn’t for sale and the worst thing is that a tenant can move. Consequently, the condo/apartment difference meant less noise control concerns.
Truth about “For Sale”
The truth about apartments is that they too are for sale. Developers mostly build for their own portfolio, but just like a condo owner, ownership isn’t forever. That portfolio is meant to maximize investment returns and when an apartment is filled to capacity with rising rents it is often spun to a REIT or a pension fund. Pension funds and REITs are interested in noise and the building code still applies. Isn’t in the developer’s best interest to know the project meets code? Doesn’t that mean that a project will eventually be for sale and create the same burden in order to maintain value? It seems to make sense that if the renters are moving out due to noise that the value of the building is diminished.
Action Point
Apartments are for sale! Noise counts as much as water leaks, so take the extra precaution and build the floor ceiling and wall assemblies to achieve code compliance. Target a level that isn’t the bottom rung on the performance ladder. Renters appreciate quiet and there are countless articles in newspapers, magazines and online chat rooms that show the importance of quiet living. Any buyer of apartments will be interested in assuring the units perform to code so get it right the first time around and use the best system possible for the building economics. It pays in the long run!!
Sounds good, doesn’t It?