How Elevator Modernization Enhances ROI

Elevator modernization

If you’ve got an older building with a rickety, ancient elevator, that’s a disaster waiting to happen. Your elevator may work fine today, but what happens if it fails with a load of riders inside? What if someone has a medical emergency while trapped in the car? Elevator modernization, and more specifically, an elevator monitoring system, helps you avoid such problems.

It’s true that good elevator monitoring systems aren’t cheap, but they offer an excellent return on investment. Learn how below.

Reassure Employees of Your Elevator’s Safety

Are you losing employees left and right? Your old, outdated elevator could be to blame.

Think about it: What employee wants to risk their safety by riding in an elevator that could give out at any time? If that elevator offers the only way to reach their desk, they might quit rather than take such a gamble.

If you’re having trouble keeping workers, investing in elevator upgrade services is a smart way to retain and attract employees.

Improve Elevator Efficiency

Modernizing building elevators is important if you’d like to keep your energy bills down. Older elevators are inefficient, and their operation can cost you a fortune each month. Upgrading to a newer elevator could reduce energy bills by 20% to 45%.

On top of that, you’ll spend less on repair bills. If your elevator breaks down more than a couple of times a year, it’s financially smart to upgrade.

Boost Your Building’s Value

Elevator modernization is a great way to boost the value of your building. You may not be planning to sell your office now, but if you ever put it on the market, an elevator upgrade can draw in interested buyers and potentially net a higher sale price.

Additionally, buyers won’t even consider a purchase if your building doesn’t meet the ASME elevator code. You’ll want to ensure your elevator is up to modern standards before listing the office for sale, and elevator refurbishment services can help you do that.

Prevent Costly Lawsuits

If your elevator fails with people trapped inside, it could spell financial disaster for your business. People with medical conditions, in particular, must be able to exit the elevator at any time. If they can’t, and something goes wrong, they are within their rights to sue you.

Contemporary elevator systems eliminate this problem. They feature video surveillance and two-way communication that allow you to talk with riders in an emergency. Should the worst happen, you can immediately dispatch maintenance staff and emergency services.

Learn More About Elevator Renovation Solutions

Elevator modernization offers an excellent return on investment for business owners. It may not be cheap initially, but you’ll quickly see the benefits, especially if you’re putting your building on the market.

If you’d like to upgrade your elevator but are having trouble choosing the right elevator monitoring company, reach out to us at Elevate Monitoring. We offer reliable monitoring systems and an answering service to keep your building ASME compliant.

To learn more about enhancing elevator performance, call 877-990-9191.

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