Reduce Your Elevator Operating Costs in 60 Days.

Here Are Practical Steps You Can Take in the Next 60 Days

New York City — VSA Consulting has identified a series of practical steps that building managers and property owners can take within the next 60 days to meaningfully reduce overall elevator operating costs.

As most owners and managers are aware, commercial buildings are complex assets. Maintaining required certifications, inspections, and regulatory compliance is often labor-intensive and requires constant diligence—particularly as codes, regulations, and industry standards change frequently. Compounding this challenge, elevators are commonly one of the largest consumers of electricity in commercial buildings, making them a significant contributor to ongoing operating expenses.

With more than 35 years of service in New York City, VSA Consulting (VSA) has worked with property owners across a wide range of building types. Based on that experience, the following recommendations can often be implemented in as little as 60 days and may result in both immediate and long-term cost savings.

1. Review and fully understand your elevator service contract

Start by carefully reviewing the terms of your existing maintenance and service agreements. Confirm that the services you are paying for align with the actual needs of your building and your specific elevator equipment. This is frequently the first—and most impactful—area where unnecessary costs can be identified.

2. Plan the lifecycle of your elevator equipment

Understand the expected lifecycle of major components and establish clear benchmarks for what to monitor and when. Proactive lifecycle planning allows owners to anticipate repairs or upgrades before failures occur. Preventive maintenance is almost always more cost-effective than reactive repairs.

3. Track certification and regulatory compliance deadlines

Know when required certifications, filings, and regulatory actions are due. Missing deadlines can result in avoidable fines, penalties, and expedited service charges. Proactive scheduling helps prevent these unnecessary expenses.

4. Maintain awareness of inspection dates

In addition to compliance deadlines, maintain a clear schedule of all required inspections. Staying ahead of inspections helps avoid costly re-inspections, violations, and service disruptions.

5. Keep complete and accurate elevator records

Ensure that all elevator documentation—service logs, inspection reports, modernization records, and repairs—is complete and well organized. Consistent records allow owners and consultants to identify wear patterns, recurring issues, and trends that may signal larger underlying problems.

6. Develop a working knowledge of your service provider

Building a solid understanding of your service provider’s capabilities, scope of work, and approach to maintenance enables better oversight. The more informed you are about how your equipment is being serviced, the more effectively you can manage performance and costs.

7. Review invoices line by line

Take the time to understand every line item on your elevator invoices. This ensures you are not being billed for services that were not performed, are outside the contract scope, or are duplicative. Invoice transparency is a key element of cost control.

Elevators remain one of the most valuable and mission-critical assets in any building. Owners who understand their maintenance contracts, regulatory requirements, and billing structures are far better positioned to control costs over time. Simply staying informed about what services are due, what work is being performed, and what you are being charged can significantly reduce the risk of overpayment or unnecessary expenses.