The lifespan of an elevator is typically 20-25 years, but there may be times within that period where it will become necessary to consider modernizing your elevator to keep it working safely and efficiently. It is very common today to perform a partial or complete modernization of the elevator in buildings built in the 2000's or before.
4 Reasons to Modernizing Your Elevator
The modernization of an elevator is a strategic investment that involves careful planning, capital budgeting, and a comprehensive understanding of your property's vertical transportation needs. The task focuses on the replacement of specific key components in order to maximize the operational life of your elevator and to maintain the proper functionality of the unit until a complete renovation is required due to loss of efficiency, updated code compliance or equipment obsolescence.
Elevators have a crucial role to play in your building, and therefore it is important to prioritize their modernization when the time comes. There are several reasons why the modernization of your elevators becomes financially beneficial, as well as necessary. Let us look at the root causes that trigger the need for an upgrade of your elevator, so you have a better understanding of when to take the next step.
1. Safety Codes
Safety is the highest priority and most common reason to consider modernizing your elevator. Elevators that lack the latest technologies and modern safety equipment can open the door to dangerous consequences and unforeseen liabilities. As machines age, they can become more susceptible to malfunctions and entrapments. Common safety issues may arise more often, such as uneven floor landings, unreliable emergency phones and elevator door issues. It is essential to keep the elevator in compliance with your local building and safety codes as they evolve.
2. Improving Efficiency
The long wait times and poor ride quality of an inefficient elevator can greatly impact your building’s value in the eyes of tenants and the morale of employees. By upgrading key components in your elevator’s operating systems, you can effectively improve the perception of your property while delivering a quieter ride with smooth transitions and shortened wait times. The modernization of your lift will help reduce repair costs and increase in the satisfaction of your passengers.
3. Reduce Operation Costs
Inefficient operation of your elevators can pull a greater amount of energy from your utilities and waste a significant amount of money. The modernization process can save you a great deal of money as you invest the required capital in upgrading the performance of your existing elevator components. Building owners can save capital by upgrading systems such as the controller, cab closures and signal equipment. By amortizing short-term costs to modernize your elevator components you can prolong its effective life while postponing the costly renovation of your property’s entire vertical transportation system.
4. Increasing Property Value
The modernization of your elevator will result in an overall improvement in the reliability and safety of one of your property’s most valuable assets, consequently increasing the value of your building. Upgrading parts like the controller, door equipment, cab enclosures, signal equipment and motors can greatly impact your buildings bottom line.
- The Controller: Upgrading the controller will result in more accurate floor leveling with increased energy efficiency. Your elevator response time will improve, and there will be increased ride comfort for passengers.
- The Cab Enclosure: Upgrading the cab enclosure will increase the chances of meeting the codes of the American Disabilities Act (ADA). The low voltage lighting will aid in increased energy efficiency and improve passenger comfort.
- Signal Equipment: Modernizing the signal equipment would result in ADA compliance along with an increased resistance to vandalism.
Elevator modernization helps to maintain the effective performance of your equipment as it ages, prolonging its decline. The modernization process improves the efficiency of your elevators and reduces the energy costs, while allowing you time to proactively schedule and budget for the major capital investment required to fully replace your elevator systems.
Liberty Elevator Can Help
We are committed to making your elevator run as efficiently as possible through regular maintenance & the modernization of your equipment. Contact Liberty Elevator for an inspection of your property and an honest assessment of your elevator options.
As one of the top elevator companies in New Jersey, New York, Pennsylvania & Florida, Liberty Elevator understands that our customers have unique needs and offers our clients the freedom to choose. Whether choosing a customized elevator maintenance program, installing nonproprietary equipment, or providing a flexible agreement, Liberty Elevator provides knowledgeable recommendations for various models and vintages of elevator equipment.