Elevator maintenance costs are necessary for large facilities like hospitals and universities. Paying for routine maintenance is usually cheaper than waiting until the elevator malfunctions to pay for repairs. The average elevator maintenance contract for small buildings is $3,600-$5,000 per year. For 30-story buildings, the average cost of elevator maintenance per year is $8,000-$9,000 under contract.

The issue of maintenance costs extends beyond financial costs, however. A business owner must consider the impact an elevator breaking down has on customers and employees. Is it dangerous to have the elevator break down? For example, if an important surgeon or other medical equipment is stuck on the broken elevator, a patient’s life could be at risk. And while not necessarily life-threatening, customers become highly agitated if the elevator doesn’t work properly. You could lose customers over an elevator malfunctioning. Continue reading to learn more about elevator maintenance costs and how to minimize this expense for your business.

elevator with red carpet

What Are Elevator Maintenance Costs?

Elevator maintenance costs are the costs of ensuring an elevator remains in good condition. To pay for elevator maintenance, you must sign a contract with an elevator maintenance company. Most contracts are structured for a yearly payment, and the company promises to keep your elevator in tip-top shape throughout the year. Elevator maintenance companies typically conduct a price adjustment once per year too. An elevator maintenance contract usually includes adjustments on relays, lubrication, cleaning, and a basic inspection.

Who Needs It the Most?

Many business owners don’t want to pay for elevator maintenance, but it’s important if the building has an elevator. Elevator maintenance is most critical for apartment buildings, medical facilities, skyscrapers, and tall buildings. It’s important for apartment buildings because some tenants might be disabled and would need the elevator good condition, so they can leave and enter their home. In addition, tenants probably won’t renew their leases if the elevator frequently has problems because it’s an annoyance they’re not willing to live with.

How Much Is Usually Spent on This?

Most contracts in this industry divide labor costs from material costs. Although each elevator maintenance company divides the costs between labor and material differently, you can usually expect 80% labor and 20% material. Something important to be aware of before signing an elevator maintenance contract is many companies charge extra if you use their services outside of their working hours and on holidays. Weekends usually count as being outside of their working hours.

The regular working hours of union elevator mechanics are from 8 am to 4:30 pm Mondays to Fridays. On Sundays and holidays, they charge double time, and on Saturdays and outside of working hours during weekdays they charge at time and a half. Many elevator maintenance companies expect payment a month in advance at the beginning of the month as well. A few companies charge for maintenance 90 days in advance. Many elevator contracts include a clause that requires at least 90 days of notice before terminating the contract as well.

As stated in the introduction, the average elevator maintenance contract charges $8,000-$9,000 per year for 30-story buildings and $3,600-$5,000 per year for small buildings. If you think this is costly, consider how much elevator repairs cost when a company doesn’t pay for maintenance. According to a ThyssenKrupp representative, one facility had to pay $474,000 for an elevator makeover because expensive parts needed to be replaced. You can prevent extremely high expenses like this by paying for elevator maintenance.

4 Ways in Which You Can Reduce Spending on Elevator Maintenance

1. Check on the elevator technician to ensure their doing their job correctly. The elevator maintenance industry has a problem of some companies and technicians that don’t resolve the issue in order to make more money. Therefore, you should check on the technician while they’re making repairs or checking the elevator system. Ask them questions about what they’re doing and why. Ensure the problem is fixed the first time and as quickly as possible. If you suspect the technician is either not doing their job properly or is slacking, consider changing companies once the contract ends.

2. Vacuum the tracts on a weekly basis, so that the elevator technician doesn’t have to spend as much time on cleaning during maintenance. Cleaning the elevator tracts every week helps prevent obstructions in the tract as well.

3. Keep track of how often you make service calls to the elevator technician. By recording when you make service calls and keeping track of the maintenance schedule, you can detect when the frequency of service calls increases. This is usually a sign that you should upgrade or modernize the elevator system. Modernizing the elevator can reduce the frequency of service calls, thus saving you money in the long-term.

4. Communicate well with the elevator technician. Ask them for tips on maintenance and what you can do to prolong the life of the elevator. A good technician will be more than happy to answer your questions and provide advice, so that you can save money on expensive repairs.

two elevators in hallway

Conclusion

Elevator maintenance might not seem like the most essential expense for a business, but it can save money on costly repairs. An elevator that is well-maintained and kept clean will last longer with fewer problems. Elevators that are not maintained can break down and sustain serious damage that will cost a hundred thousand dollars or more to fix. Paying for routine elevator maintenance will keep your elevator in good condition while saving money in the long-run. To reduce the costs of elevator maintenance, implement the tips listed above.

What is the most expensive repair you’ve had to make for the elevators at your business? Do you have any other tips for saving money on elevator maintenance costs? Share your stories and tips in the comments below.

Images from depositphotos.com and pixabay.com.

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