CHICAGO—September 17, 2019The Elevator Consultants has announced a list of seven easy steps property managers can take to reduce operating costs within 60 days. In commercial real estate, buildings are complex entities, subject to constantly changing standards and regulations, and managing these properties is a cost- and labor-intensive endeavor.

The Elevator Consultants (TEC) is a leading vertical transportation consulting firm with decades of specialized expertise working on behalf of buildings around the globe. From TEC years of experience helping clients save millions of dollars on operational costs, TEC has compiled the following recommendations for owners and property managers of commercial elevator buildings to see a significant savings in as little as two months:

1. Understanding Your Service Contract

Understand the terms of your contract so you can be sure you are receiving the services you pay for and items covered. Buildings are being charged for items included in the contract and services they don’t receive far more often than they know.

2. Equipment Knowledge and Lifecycle Management

Learn about your equipment and its history to understand the lifecycle and the risk for potential issues. Having the knowledge will help you hold the service provider accountable.

3. Staying Up-to-Date on Equipment Testing

Know your equipment testing dates. This one of the most common reasons elevators fail inspection and the fees and fines to the building add up quickly.

4. Elevator Compliance and Code Adherence

Know your inspection date and ensure your equipment is in compliance with codes to avoid paying costly fines.

5. Maintaining Accurate Building Records

Keep your own building records to ensure that the data you have about your equipment is accurate and complete. This will help you analyze patterns to make the most informed decisions about the building.

6. Building Relationships with Service Providers

Know your service provider, and develop a relationship with the mechanic or technician who services your equipment.

7. Monitoring and Analyzing Billing Data

Stay on top of your billing. The data you collect will allow you to ensure that you are not being charged for services you are not receiving.

Elevators are one of the most high value assets in a commercial building, and the cost leak from lack of oversight can soon become a flood of wasted money. These seven steps are not difficult to implement, but can help eliminate waste, reduce operating costs and extend the lifecycle of your equipment.

To find out how The Elevator Consultants and the ElevatorApp can help you protect your investment, visit www.theelevatorconsultant.com.

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