If you’re wondering how much elevator maintenance should cost in your building, then you’re in the right place. This guide will cover everything you need to know about elevator maintenance cost – plus our free calculator.
Furthermore, we’ll estimate the cost in your building, review the 7 factors of cost, and then we’ll cover ways to reduce price.
How Much Does Elevator Maintenance Cost in 2019?
The cost of elevator maintenance varies depending on equipment type, location, and what is included in the contract. Most elevator maintenance in 2019 costs between $80-$750/month per elevator.
Check The Price For Your Building
The cost of maintenance varies quite a bit. As a result, we built a simple tool to help you calculate the cost of elevator maintenance in your building. Based on your elevator, location, and a few more details, we’re able to instantly calculate what you should pay. Try it out below.
What Factors Determine Elevator Maintenance Cost?
Elevator maintenance costs are complicated. However, the price you pay is primarily determined by 7 key factors. Here are the 7 key factors of elevator maintenance cost.
1. Type of Elevator Maintenance Contract:
Similar to an insurance policy, the more coverage you get, or the more equipment covered in your agreement, the more you will have to pay. For example, an elevator maintenance plan that includes all elevator components is more expensive than a plan with only half of the components covered. Contract types range in price depending on which elevator parts are covered.
2. Hours of Emergency Service Coverage:
When your elevator stops working, you’ll want to place a call for service. If the elevator failed on a Saturday, then the cost to send a mechanic is more expensive than sending a mechanic during business hours. Elevator maintenance plans that include 24/7 emergency service coverage are more expensive than plans for 8-hour coverage. Monday through Friday during regular business hours is often called 8-hour coverage.
3. Elevator Maintenance Contract Modifiers:
The contract can be modified to include or exclude certain features that may be important, or required by code, for your building. The agreement can be modified to include safety testing, remote monitoring, record-keeping, elevator controller diagnostic tooling, and other items unique to your building. Each of these items will impact the monthly price you pay.
4. Elevator Equipment Type:
Each elevator type costs a different amount to maintain. For example, a traction elevator will periodically need the hoist ropes replaced – which is an expensive repair. The cost for that repair is amortized over the term of the contract. A hydraulic elevator doesn’t have hoist ropes and would cost less monthly to maintain. The type of elevator will impact the price of maintenance.
5. Building Height:
The height of your building will affect the cost. Each additional floor will require door equipment that needs more maintenance and more material to repair. Taller buildings will have more wiring, longer hoist cables, and more equipment to replace, which will increase the cost.
6. Building Type:
The traffic and usage for each elevator will determine the cost. For example, an elevator used seven days a week to load freight in and out of a grocery store will fail frequently and require a high level of maintenance. On the other hand, an elevator inside a church is only used a couple of times per week and requires minimal maintenance. The amount of traffic and usage will impact the total price.
The level of competition in an area will impact the price. If one company is aggressively trying to grow, the amount they offer will drive down the price of other companies. Also, each location has different elevator mechanic rates. The average rate for one city can be twice as high as a mechanic rate in another city.
Who Decides the Cost of Elevator Maintenance?
Every elevator company will survey your building and complete a risk assessment. Typically an employee of the company will help assess:
- The likelihood and frequency of failure
- The cost of replacement parts and repairs
- The level of maintenance required
Based on the assessment, elevator companies will determine how much total cost would be involved with maintenance. Then they decide how much money they should charge to cover costs and profit.
Why Do Elevator Maintenance Costs Increase?
Most elevator maintenance contracts allow an annual price increase. The price increase is typically set to cover the rise in elevator mechanic labor costs and rising prices for materials. However, a competitive situation usually reveals that the cost of maintenance rarely increases. Advancement in technologies and improvements in equipment helps keep the cost of maintenance stable.
How to Pay The Lowest Price for Elevator Maintenance
1. Customize Your Elevator Maintenance Contract:
Boilerplate contracts, or standard templates from your elevator company, are not designed specifically for your building. These contracts often include items and costs that your building doesn’t need. Also, standard templates are designed to favor elevator companies. A custom elevator contract can be built to favor your building.
2. Use the Custom Contract to Collect Multiple Bids:
Take your custom contract and send it multiple elevator companies along with an invitation to bid. They will use the custom contract as a scope of work to calculate pricing. This will ensure all elevator companies bid “apples-to-apples.”
3. Review Bids and Select a Company:
The trick to paying the lowest price is finding a company that’s most interested in servicing your elevator. A company that has available capacity, geographic coverage near you, and is confident with your elevator will offer the most attractive proposal.
By now, you should know elevator maintenance costs in your building. This information will help you evaluate offers and give you tactics to reduce the price.
How do you feel about the elevator maintenance cost in your building? Comment below.