Freeboard life-cycle benefit-cost analysis of a rental single-family residence for landlord, tenant, and insurer

被引:1
|
作者
Gnan, Ehab [1 ,7 ]
Mostafiz, Rubayet Bin [2 ,3 ,4 ]
Rahim, Md Adilur [3 ,4 ,5 ]
Friedland, Carol J. [3 ,4 ]
Rohli, Robert V. [2 ,3 ]
Taghinezhad, Arash [1 ,4 ,6 ]
Al Assi, Ayat [1 ,3 ,4 ]
机构
[1] Louisiana State Univ, Bert S Turner Dept Construct Management, Baton Rouge, LA USA
[2] Louisiana State Univ, Coll Coast & Environm, Dept Oceanog & Coastal Sci, Baton Rouge, LA 70803 USA
[3] Louisiana State Univ, Coastal Studies Inst, Baton Rouge, LA 70803 USA
[4] Louisiana State Univ Agr Ctr, LaHouse Res & Educ Ctr, Dept Biol & Agr Engn, Baton Rouge, LA 70803 USA
[5] Louisiana State Univ, Engn Sci Program, Baton Rouge, LA USA
[6] Texas A&M Univ, Inst Disaster Resilient Texas IDRT, College Stn, TX USA
[7] Nalut Univ, Coll Engn, Dept Architecture & Urban Planning, Nalut, Libya
来源
FRONTIERS IN CLIMATE | 2024年 / 5卷
基金
美国食品与农业研究所;
关键词
life-cycle benefit-cost analysis (LCBCA); net benefit-cost ratio (NBCR); National Flood Insurance Program (NFIP); base flood elevation (BFE); annual exceedance probability (AEP); Gumbel extreme value distribution; average annual loss (AAL); discounted present value (DPV); NATURAL DISASTERS; POLITICAL ECOLOGY; FLOOD HAZARD; VULNERABILITY; MANAGEMENT; IMPACT;
D O I
10.3389/fclim.2023.1295592
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
Flood risk to single-family rental housing remains poorly understood, leaving a large and increasing population underinformed to protect themselves, including regarding insurance. This research introduces a life-cycle benefit-cost analysis for the landlord, tenant, and insurer [i.e., (U.S.) National Flood Insurance Program (NFIP)] to optimize freeboard [i.e., additional first-floor height above the base flood elevation (BFE)] selection for a rental single-family home. Flood insurance premium; apportioned flood risk among the landlord, tenant, and NFIP by insurance coverage and deductible; rental loss; moving and displacement costs; freeboard construction cost; and rent increase upon freeboard implementation are considered in estimating net benefit (NB) by freeboard. For a 2,500 square-foot case study home in Metairie, Louisiana, a two-foot freeboard optimizes the combined savings for landlord and tenant, with joint life-cycle NB of $23,658 and $14,978, for a 3% and 7% real discount rate, respectively. Any freeboard up to 2.5 feet benefits the tenant and NFIP, while the landlord benefits for freeboards up to 4.0 feet. Collectively, results suggest that at the time of construction, even minimal freeboard provides substantial savings for the landlord, tenant, and NFIP. The research provides actionable information, supporting the decision-making process for landlords, tenants, and others, thereby enhancing investment and occupation decisions.
引用
收藏
页数:12
相关论文
共 48 条
  • [1] Economically optimizing elevation of new, single-family residences for flood mitigation via life-cycle benefit-cost analysis
    Gnan, Ehab
    Friedland, Carol J.
    Mostafiz, Rubayet Bin
    Rahim, Md Adilur
    Gentimis, Thanos
    Taghinezhad, Arash
    Rohli, Robert V.
    [J]. FRONTIERS IN ENVIRONMENTAL SCIENCE, 2022, 10
  • [2] Life-Cycle Benefit-Cost Analysis Framework for Ramp Metering Deployments
    Chen, Xifan
    Salem, Ossama
    Salman, Baris
    [J]. TRANSPORTATION RESEARCH RECORD, 2016, (2554) : 69 - 76
  • [3] Life Cycle Cost Analysis of a Single-Family House in Sweden
    Petrovic, Bojana
    Zhang, Xingxing
    Eriksson, Ola
    Wallhagen, Marita
    [J]. BUILDINGS, 2021, 11 (05)
  • [4] Life-Cycle Environmental Impacts and Cost Analysis of Zero-Carbon Single Family Residence
    Bi, Xuejiao
    Yang, Wei
    Li, Jie
    Li, Qiyuan
    [J]. Tianjin Daxue Xuebao (Ziran Kexue yu Gongcheng Jishu Ban)/Journal of Tianjin University Science and Technology, 2024, 57 (05): : 544 - 555
  • [5] Implementing Highway Safety Manual Life-Cycle Benefit-Cost Analysis of Safety Improvements
    Frustaci, Jordan B.
    Saito, Mitsuru
    Schultz, Grant G.
    [J]. TRANSPORTATION RESEARCH RECORD, 2017, (2636) : 23 - 31
  • [6] Benefit-cost analysis of commercially available activated carbon filters for indoor ozone removal in single-family homes
    Aldred, J. R.
    Darling, E.
    Morrison, G.
    Siegel, J.
    Corsi, R. L.
    [J]. INDOOR AIR, 2016, 26 (03) : 501 - 512
  • [7] Infrastructures and life-cycle cost-benefit analysis
    Thoft-Christensen, Palle
    [J]. STRUCTURE AND INFRASTRUCTURE ENGINEERING, 2012, 8 (05) : 507 - 516
  • [8] Cost-benefit analysis of single-family foreclosure alternatives
    Ambrose, BW
    Capone, CA
    [J]. JOURNAL OF REAL ESTATE FINANCE AND ECONOMICS, 1996, 13 (02): : 105 - 120
  • [9] Retrofitted Solar Domestic Hot Water Systems for Swedish Single-Family Houses-Evaluation of a Prototype and Life-Cycle Cost Analysis
    Bernardo, Luis Ricardo
    Davidsson, Henrik
    Andersson, Erik
    [J]. ENERGIES, 2016, 9 (11)
  • [10] Project-Level Life-Cycle Benefit-Cost Analysis Approach for Evaluating Highway Segment Safety Hardware Improvements
    Li, Zongzhi
    Labi, Samuel
    Karlaftis, Matthew
    Kepaptsoglou, Konstantinos
    Abbas, Montasir
    Zhou, Bei
    Madanu, Sunil
    [J]. TRANSPORTATION RESEARCH RECORD, 2010, (2160) : 1 - 11