5 Tips for Your Elevator Maintenance Contract

What do factories, offices, and residential complexes have in common? They all require regular maintenance to ensure the safety of all occupants, maintain property value, and reduce repair costs. These maintenance services come at a cost, of course, and no one would blame you for finding every way to reduce your rates. That said, cost is often correlated with quality, and if there’s any area of building maintenance you shouldn’t skimp on, it’s elevator upkeep. The short-term savings you might acquire by reducing the frequency or quality of your elevator maintenance service may be offset by the long-term costs of expensive repairs and liabilities -- keep this in mind when negotiating your next elevator maintenance agreement.

Here are five tips for your elevator maintenance contract to ensure both the best price and service.

1. If it’s Your First Contract, Crunch Some Numbers

If you’ve never dealt with elevator maintenance contracts before, you’ll want to look into what these services tend to cost before anything else. This will help you better craft an overall maintenance budget that covers all the bases without breaking the bank. Note that elevator maintenance costs can range anywhere from $75 to $750 (or more) per month depending on various factors (elevator type, size, height/distance, location, service level, etc.). Use one of the many elevator maintenance cost calculators online to input your parameters so you can get a sense of what these services might cost. The more you know, the more leverage you’ll have when negotiating your contract terms with maintenance providers.

2. Understand Different Elevator Contract Types

Speaking on knowledge, your next step is to familiarize yourself with the three main types of elevator maintenance contracts: partial service, full service, and parts, oil, & grease (POG) elevator maintenance. A full service contract puts the elevator’s entire well-being into the contractor’s hands. In other words, the contractor is responsible for both preventative maintenance and repairs. This is the most expensive option on a month-to-month basis and some exclusions will apply, but a full service contract is consistent and can actually yield long-term savings. A partial service contract excludes more components from the terms (i.e. pumps, valves, generators, cables, etc.), offering a lower fixed monthly rate but running the risk of higher overall costs for repairs. Lastly, a POG contract is the cheapest from month-to-month but also the most bare-bones option, including only basic inspection, lubrication, and compliance check-ups. Repairs and service calls are typically not included in the fixed monthly payment, so overall costs can rise quickly. Those in charge of facility management must decide which level of service is best suited for their elevator(s).

3. Ask the Right Questions of a Contractor

When searching for the best facility or office maintenance companies, the more questions you ask of a potential candidate, the better. The same goes for elevator maintenance providers. Asking relevant questions will reveal the contractor’s level of expertise and help you negotiate the best possible deal. Some questions you might ask include:

  • What is your level of experience with this specific type of elevator?
  • What tools and components do you have at your disposal?
  • Are you able to add performance guarantees or other quality-assurance measures into the contract?
  • How frequent are examinations?
  • Is 24-hour service available, and how does this factor into the contract terms?
  • Can you list in detail what is included and excluded in the baseline contract?
  • How do you handle emergency overtime coverage?
  • How do you determine annual price adjustments?
  • Do you offer discounts for low occupancy or other variables?
  • ...and more

4. Prepare for Repair Costs

As previously mentioned, full service elevator maintenance contracts are the easiest to build a budget around because they cover so much under a fixed rate. That said, even a quality full service contract may exclude certain components and types of repairs. As such, leave some room in your elevator maintenance budget for unexpected costs. This amount should be greater for POG and partial contracts and smaller for full service contracts, but the exact numbers will depend on your budget, facility needs, and specific contract terms.

5. Understand the Exact Terms of Your Agreement

Finally, do not sign off on any elevator maintenance contract until you completely understand and agree to its terms and conditions. Take the time to grasp everything that is and isn’t included, project the annual costs, compare it to your set budget, and ask additional questions if necessary.

Rise to the Occasion of Elevator Maintenance

Your contract should act as a protective measure to keep your elevator(s) safe, functional, efficient, and clean while minimizing the frequency, severity, and cost of repairs. At The Budd Group, elevator maintenance is one of the many components of our commercial, industrial, and condominium maintenance service offerings. We work closely with our clients to develop an optimal, customized contract for their elevator maintenance needs. To learn more about our services and values, give us a call today at 800-221-8158!

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