You can immediately increase your building’s property value by assessing the state of your elevator and escalator equipment. Elevators and escalators are the major vein of a building. Without them working property or even looking aesthetically appealing, the value of a building can dip significantly.
Anyone can give this type of equipment a quick and easy assessment.
Ride the elevator or escalator.
Do you hear any odd noises?
Does the cab interior show signs of wear?
Are you waiting a long time for the elevator to start?
Are you waiting after you hit the up/down button?
Is it slow to get from one floor to the next?
Does it jump when it’s going up or down?
Do the lights flicker?
Does it level unevenly?

If you answered yes to any of these questions, you have the potential to immediately increase the value of your property.

These are just some visual and mechanical items that you should notice when riding your elevator.

For further assessments, go to the machine room. Take a look into the pit and hoistway. Be sure to observe the following:

Cleanliness
Impressions are worth a thousand words (not to mention, tens of thousands of dollars). If you observe noticeable levels of dirt or grime, your pit/hoistway needs a good cleaning. If your elevator equipment looks dirty, fear not! This problem can be remedied by simply cleaning the equipment.

Code Updates
There are always changes in the industry. You should make sure that everything in the building is code complaint. The Americans Disability Act (ADA) is a common missed code in addition to numerous others pending the buildings locations.

Mechanically Sound
Reliable and safe equipment will impact the value of your property. The equipment in the machine room, pit and hoistway should all be clean and working to industry best practices and code compliancy.

Maintenance Service Contracts
The service provider must be properly maintaining the equipment following a code compliant maintenance control program.

Pending on the number of elevators or escalators contained within, a building owner can save tens to hundreds of thousands of dollars by properly managing the upkeep of their equipment.