For project managers and building owners, knowing when to modernize or replace an elevator is an intricate decision. Even with yearly maintenance and aging equipment, elevator parts become obsolete and so does elevator technology. The opportunity cost of lowering electric power consumption and the increased building value should also weigh into this decision.
Here are some other factors that should weigh in with your decision of whether to modernize or replace.
As a building owner, knowing that you can no longer bring your elevator up to code because it may be no longer supported by the manufacturer or the parts are harder to source, a modernization is generally in order. Another factor that should inform the decision is the fees of non-compliance with current building codes. Because modernization or replacement of the elevator will be a considered purchase, planning and budgeting will be essential.
Similarly, facility managers should allocate a reasonable amount from their operating budgets for elevator maintenance. As with most things in life, you get what you pay for. If a facility manager severely squeezes an elevator contractor on price, that contractor may be less likely to, say, proactively replace parts before they completely fail, so that their installation can be scheduled to minimize disruption.
Facility managers, building owners, and property managers should allocate an operating budget for elevator maintenance each year. VSA Consulting can help your building managers with this task. VSA Consulting regularly conducts surveys with clients to determine what maintenance is required and/or recommended. Then a timeline and budget are presented to the client for implementation. Regular investment in your elevators will save costs over time and prevent costly downtime.
Elevators are often the biggest mechanical investment a building owner makes in their building. Help ensure they are operating at their most efficiently by conducting a review and having a yearly maintenance plan.
VSAConsulting is a licensed elevator consulting company in New York City with over 36 years of experience in New York City. For more information on Modernizations or replacements of your elevator reach out to info@vsaconsulting.com or call 1-212-989-5525.