When budgets are under pressure, choosing the cheapest lift maintenance contract can feel like a sensible decision.
For property professionals, reducing annual expenditure matters. For leaseholders, keeping service charges under control matters too. So, when two maintenance contracts appear to offer broadly the same thing, why wouldn’t you choose the cheaper one?
Because the figure at the bottom of the quotation only tells part of the story.
A lower-cost contract can come with fewer maintenance visits, more exclusions and additional charges for callouts, repairs, labour and replacement parts. What looks like a saving today could therefore leave you paying considerably more tomorrow.
What are you actually paying for in a lift maintenance contract?
Not all lift maintenance contracts provide the same level of cover.
A basic contract will typically include a specified number of routine service visits, basic adjustments and lubrication. Callouts, repairs, materials and replacement parts may then be charged separately.
At the other end of the scale, a more comprehensive agreement can provide considerably greater protection, potentially covering callouts, repairs and replacement parts alongside routine servicing. However, even contracts labelled ‘comprehensive’ can contain significant exclusions.
That makes comparing contracts on price alone difficult.
The better question is: what will this contract actually cost over its lifetime?
The hidden cost of a cheaper lift maintenance contract
Imagine saving money on your annual maintenance fee, only to receive separate invoices every time something goes wrong.
A callout here. A replacement component there. Labour charges. Materials. Out-of-hours attendance.
Those costs can quickly erode the original saving.
There is another consideration too: preventative maintenance.
A cheaper contract offering fewer maintenance visits can mean fewer opportunities to identify worn parts, adjust ageing components and address potential failures before they become bigger problems.
For an older or heavily used lift, particularly where components may already be approaching the end of their service life, that can prove a false economy.
When ‘comprehensive’ doesn’t necessarily mean comprehensive
Here is where property professionals and leaseholders need to look beyond the name on the contract.
A comprehensive lift maintenance contract sounds reassuring, but the word ‘comprehensive’ does not automatically mean everything is covered.
What are the exclusions? Are replacement parts included? What about labour? Are out-of-hours callouts covered? How quickly must the contractor attend? And what happens if agreed service levels aren’t achieved?
The detail matters.
That is why the scope, exclusions and performance requirements should be understood before comparing one contract with another.
Could paying more actually deliver better value?
Potentially, yes.
The right maintenance agreement should reflect the needs of the lift rather than simply achieving the lowest possible annual premium.
Its age, condition, level of use and operating environment should all be considered when determining the appropriate maintenance arrangements.
At ILECS, our Enhance solution takes this tailored approach. Our independent lift consultants formulate maintenance contracts around the requirements of the lifting equipment and the client, rather than simply accepting a contractor’s standard terms.
ILECS contracts can provide greater parts and labour coverage, specified response times and clearly defined key performance indicators (KPIs), helping create greater accountability and cost certainty.
Look beyond the annual maintenance price
When reviewing your next lift maintenance contract, don’t just ask, “How much does it cost?”
Ask what you are getting for that money.
Look carefully at servicing frequency, exclusions, callout arrangements, parts and labour coverage, response times and contractor performance requirements. Then consider those terms alongside the age, condition and usage of your lift.
Because the cheapest contract on day one isn’t necessarily the contract that will cost you the least in the long run.
Put your lift maintenance contract to work for you
Lift maintenance contracts shouldn’t simply favour the company maintaining the lift.
ILECS’ Enhance solution is designed to put the needs of the client and their lifting equipment at the heart of the agreement.
Get in touch with ILECS to discuss our enhanced lift maintenance contracts and discover how independent expertise can help you secure a maintenance agreement designed to favour you, not the lift contractor.
