Elevators are pivotal in ensuring the smooth operation of commercial properties. For commercial real estate investors and owners, efficient elevator management is key to minimizing operational costs and enhancing property value. Some strategies can be explored to save on elevator-related expenses, focusing on preventive maintenance, modernization, technological solutions, and stakeholder information. 

Implementing these strategies can significantly reduce costs and time spent managing elevators, making them a strategic asset rather than a financial burden. All buildings have their unique elevator system based on their building usage. Whether a Class A, Class B, hotel, call center, mall, hospital, or whatever commercial application, all buildings operate differently. 

These strategies can be aligned to meet the many diverse applications and tailored to solve the elevator issues at the forefront. A property can adopt these strategies to assist with their elevators and escalators. 


Emphasizing preventive maintenance is crucial for cost-effective elevator management, addressing minor issues before they escalate into costly repairs.


Routine Checks and Servicing

  • Scheduled Maintenance: Implementing a consistent maintenance schedule tailored to the elevator’s usage and manufacturer recommendations can prevent major breakdowns and ensure compliance, reducing the need for expensive emergency repairs.
  • Cost-Effectiveness: By focusing on routine checks, property owners can lower the overall maintenance costs, extend the elevator’s operational lifespan, and avoid other unnecessary issues. 
  • Safety and Regulatory Compliance: Consistent maintenance ensures elevators meet safety standards, avoiding fines and legal complications.

Read more related articles:

  1. How Regular Maintenance Can Prolong The Lifespan Of Elevators
  2. A Maintenance Control Program

Poor Elevator Maintenance And Service Are Bleeding Hotel Building Budgets


Upgrading elevator systems can bring long-term benefits such as cost savings and increased efficiency, making it a strategic investment for property owners.


1. Efficiency and Cost Savings

Elevator modernization is a gateway to energy-efficient features that can significantly reduce operational costs. These upgrades, from intelligent lighting systems to energy-conserving motors, can reduce electricity bills, and leading to substantial financial savings for property owners. Moreover, these energy-efficient features contribute to a more sustainable building, aligning with the growing demand for eco-friendly properties.

2. Reliability and Tenant Satisfaction

A modernized elevator system, coupled with diligent maintenance, enhances reliability and tenant satisfaction. Property managers can ensure a seamless and enjoyable experience for occupants by minimizing downtime and breakdowns, fostering a positive reputation, and reducing the volume of maintenance calls.

3. Minimized Malfunctions

Upgraded elevator systems boast advanced technologies and components that are less prone to malfunctions. Property owners can avoid costly disruptions to building operations and tenant activities by mitigating the risk of unexpected breakdowns.

4. Regulatory Compliance

Strict regulations govern elevator safety and performance. Elevator modernization is a proactive step toward ensuring compliance with these standards. By keeping up with regulatory requirements, property owners can demonstrate their commitment to safety and operational integrity, which is crucial for maintaining a positive reputation and attracting tenants.

5. Property Value Enhancement

Beyond operational efficiency, modernized elevators contribute to a property’s overall appeal and market value. Potential tenants and investors are increasingly drawn to buildings with state-of-the-art amenities, including efficient and reliable elevator systems. Consequently, elevator modernization represents a is a is is a practical investment and a strategic move to enhance property attractiveness and competitiveness in the real estate market.


  • Transparency and Oversight: Service monitoring software tracks maintenance activities and service compliance, ensuring cost-efficiency.
  • Predictive Maintenance Insights: Data analytics can predict potential issues, facilitating timely and less costly interventions.
  • Streamlined Administrative Processes: Elevator service monitoring software reduces administrative burdens, saving overall cost and time.

Easy Elevator Management: ElevatorApp™


In the rapidly evolving landscape of vertical transportation, where buildings are reaching new heights and demands for efficiency and safety are paramount, traditional elevator management has faced its fair share of challenges. From unexpected costs to compliance hurdles and service provider issues, the journey through elevator maintenance has often been fraught with uncertainties and frustrations.

However, amidst these challenges, a beacon of innovation has emerged – introducing ElevatorApp™, a groundbreaking elevator monitoring software that promises to revolutionize how we manage elevators.

Gone are the days of being in the dark about your building’s elevator maintenance. ElevatorApp™ empowers building owners and property managers with real-time updates and comprehensive tools, firmly restoring control to their hands. Say goodbye to costly repairs and hello to efficiency and safety, as ElevatorApp™ equips you with the information needed to manage your elevator systems proactively.

So, What Sets ElevatorApp™ Apart?

Real-Time Updates and Control: ElevatorApp™ provides real-time updates and tools, allowing you to stay informed and take charge of your elevator management. No more surprises – just complete control at your fingertips.

  • Comprehensive Platform: Our platform offers the information needed to ensure compliance, reduce costs, and enhance efficiency. From maintenance control program (MCP) information to service and callback data, ElevatorApp™ has you covered.
  • Complete Visibility: With ElevatorApp™, transparency is key. Gain full visibility into your elevator service provider’s onsite work, with services logged in real-time and stored securely in the software’s database.
  • Data Protection and Accessibility: Your data is our priority. ElevatorApp™ ensures that your information is protected and remotely accessible, allowing you to process it through numerous filters at your discretion.
  • Industry Compliance: Rest assured that ElevatorApp™ follows all industry best practices to comply with the ASME A17.1 maintenance control program. With state-of-the-art software, we prioritize reliability and adherence to standards.

Ready to take control of your elevator management? Download the free ElevatorApp™ today and experience the future of vertical transportation wherever you are. Elevate your building’s potential with ElevatorApp™ – because the future is now regarding elevator management.


Educational initiatives regarding proper elevator use can significantly prolong system lifespan and enhance reliability.

Promoting Proper Use and Care

  • Instructional Guidelines: Posting elevator procedures for staff and guidelines on elevator capacity and proper usage can mitigate unnecessary damage.
  • Maintenance Skill Development: Training staff on basic elevator industry may reduce reliance on external service providers for minor issues like debris in the sill.


Effective elevator management encompasses a comprehensive approach that combines maintenance, upgrades, modernization, technological adoption, and education. Commercial real estate investors can achieve significant cost and time savings by strategically implementing these components. 

Elevators, thus, become a valuable asset that contributes to the property’s operational efficiency, safety, and appeal, enhancing its long-term success in the competitive real estate market. 

Elevator management should be considered an integral part of overall property management, requiring attention, investment, and strategic planning to achieve optimal results with less cost and time spent on elevators.

FAQ - About The Topic Title

Preventive maintenance extends elevator lifespan, ensures safety, and complies with regulations, avoiding unnecessary costs and legal issues.

It is the building’s owner’s responsibility that maintenance is completed by a qualified elevator service company.

A modernization is preferred if the budget is available if not, proper preventative maintenance may allow for prolonging the life cycle.

Yes, the initial investment in modernization can be offset by reduced energy costs, lower maintenance expenses, costly repairs, unnecessary downtime and increased property value, making it a financially sound decision. This all depends on the type, usage and reliability of the current elevator system.

Technological solutions like elevator service monitoring software optimize maintenance efficiency, ensure service quality, and provide valuable insights for decision-making.

Educating tenants and staff on proper elevator usage and basic maintenance knowledge can prevent damage, reduce service calls, and extend the elevator system’s lifespan.

There are numerous ways to educate staff on elevators and the elevator industry.  The Elevator Consultants holds monthly webinars and training on elevators and escalators.  There are also blogs written on the elevator industry and there are always initial consultants offered.

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