Elevators are a mainstay in multi-story commercial properties. In many cases, a functional elevator is a requirement if you want to meet building code and avoid significant fines. Still, elevators are often put on the back burner when it comes to property improvements.

Elevator modernization doesn’t just come in handy when your elevator breaks down. There are a ton of reasons to get ahead of the curve and upgrade or replace an older model that you may be overlooking.

Read on for six benefits of elevator modernization, from enhanced safety to reduced maintenance and beyond.

1. Energy Efficiency

While elevators tend to have a useful lifespan of up to 25 or even 30 years, they suffer from wear and tear during that process. The individual components that keep your elevator functioning may start to slow down or put more strain on the motor, creating more energy waste with each trip.

Older models may also have inefficient algorithms that follow the order in which buttons were pushed, rather than ordering stops based on efficiency. In other words, older models may make more trips to drop off all passengers, which wastes both time and money.

New elevator technology can increase energy efficiency between 21-45%. Not only will this result in smoother rides for your passengers, but it can also lower your energy bills quite a bit each month.

2. Enhanced Safety

If you’ve ever ridden a faulty elevator, you know how frightening the experience can be. Improper floor leveling can cause the elevator to drop, bounce, or creep to a halt. Premature door opening can increase the possibility of injuries and accidents.

Depending on the age of your elevator, it may not meet current safety codes as is. Not only does this expose you to liabilities in the form of fines and fees, but it also exposes your elevator passengers to unnecessary risk. Modern safety codes reflect the latest research into engineering and architecture, accounting for far more potential problems than older codes could.

The importance of elevator modernization is, first and foremost, related to safety. The new technology in elevators is up to date with existing codes and often exceeds minimum requirements.

3. Reduced Maintenance

If you’ve ever had to make an emergency elevator maintenance call, you know how pricey it can be. The national average of a single elevator maintenance appointment is $800, but individual parts can cost as much as $60,000 to replace.

It may seem more cost-effective to pay for repairs and replacement parts as needed, but this generally isn’t true. Frequent repairs require frequent appointments, all of which may include service charges and emergency fees on top of the cost of labor and parts. While investing in maintenance is a must when running a commercial property, you’ll almost always save money (and time) with preventative action, rather than reactive action.

Elevator modernization will address all of the components of your elevator that are worn down or outdated. In many cases, this will give property owners a fresh start, drastically reducing the need for ongoing maintenance for years to come.

4. Improved Aesthetic

That scissor gate may have seemed charming a few decades ago but now, it’s an eyesore and a hazard. The bright overhead lighting seemed like a great solution in the past but now it’s making your elevator more dated and less pleasant to ride.

Elevator modernization isn’t just about installing new technology in elevators that will enhance efficiency, operations, and safety. Elevator modernization also involves an aesthetic component that can make a huge difference.

Replacing outdated or worn elements in your elevator will give your property an updated look and show that you’re invested in staying current. This can be attractive to tenants, customers, and, if you’re considering putting your property up for sale, buyers.

5. Improved Reliability

Nothing is more frustrating for high-rise residents or office employees than discovering that the elevator has an “out of order” sign taped to the door. Not only does frequent maintenance add up in costs, it also creates frustration for the people who rely on your elevator each day.

When you invest in elevator modernization, you can make a plan for an elevator modernization appointment during low-traffic hours, like weekends or early mornings. Plus, you can let tenants or visitors know in advance that the elevator will be down. Providing notice and a timeline can reduce frustrations.

Not only will your elevator become more reliable to use with modern upgrades but it will also be less disruptive. Old elevators generate quite a bit of electromagnetic noise. New elevator technology will be less disruptive to riders who are using their cell phones or wireless devices.

6. Increased Market Value

When you’ve invested in a commercial property for years, you want to know that you’ll see a high return on investment. The same goes for individual upgrades you make to that property.

Elevator modernization has a high ROI for many reasons, including increased efficiency. However, it can also help to stabilize or increase the value of your property should you decide to sell it. Because elevators are major pieces of equipment, they can have a major impact on the outcome of an inspection or appraisal.

If you’ve let your elevator fall into disrepair, it’s going to reduce your property value and scare away potential buyers. By modernizing your elevator, you take the hassle of elevator replacement off the next owner. In almost all cases, buyers will pay more when they don’t have to worry about big expenses right away.

Call Metro Elevator, Inc. for Elevator Modernization

If you’re waiting until your elevator gives out to invest in major upgrades, it’s time to rethink that approach. Elevator modernization is a beneficial part of preventative maintenance. With a high ROI, you won’t regret making the change to modern elevator technology.

Metro Elevator, Inc. has been servicing Minnesota elevators for over 25 years. We personally train and mentor each of our technicians before sending them out on the job. If you’re looking for reliable and time-tested service, we can help.

Contact us to schedule an appointment or call for emergency service.

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