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Elevator Service Contract Cost Calculator
Elevator service contracts protect against downtime and liability on multifamily/commercial.
Annual cost
$45,500
Per-elevator annual
$11,375
Contract base
$36,000
How the math works
Contract = elevators × monthly × 12. Total = contract + callbacks + major repairs.
4 × $750 × 12 = $36k + 10 × $450 + $5k = $45.5k total = $11.4k/elevator annual.
How to Use
- Enter elevator count.
- Enter contract type cost per elevator monthly.
- Enter call-back threshold.
- Enter emergency call fee.
- Enter parts + labor hours per year.
- Read annual cost.
Frequently Asked Questions
Service contract types?
Oil/Grease (cheapest, basic): $200-400/elevator/month. Preventive maintenance (PM, standard): $400-800/month. Parts and labor (P&L, comprehensive): $600-1,200/month. Full service (including emergency, no call-back fee): $800-1,500/month. Smart contract (IoT-monitored, predictive): $500-1,000/month. Choose based on: age of equipment, tenant expectations, liability tolerance.
Typical downtime?
Well-maintained modern elevator: 12-40 hours downtime/year. Legacy 1970s-80s elevators: 80-200+ hours downtime/year. Industry benchmark: >98% uptime for high-traffic buildings. Average <98% generates 3-5 tenant complaints per month. Full service contract typically guarantees 4-8 hour response time, 24-hour repair. Parts availability issues with 30+ year old elevators extend repair time.
Contract scope?
Included: regularly scheduled PM, controller tuning, door operator maintenance, fixtures, lubrication, inspection compliance. Excluded (typically): cab interior refinishing, major modernization, code upgrades, damage from misuse, vandalism. Annual fire service testing (required by code): typically included. Monthly safety test: included. Full-service contract: includes all parts except those listed as exclusions.
Industry vendors?
Big Four: Otis, Schindler, KONE, TK Elevator (ThyssenKrupp). Independent: local/regional elevator service companies, often 15-30% cheaper. Big Four advantages: 24-hour response, parts availability, brand continuity, specialized technicians. Independent advantages: price, responsiveness, relationship. Mix by property profile: luxury high-rise prefer Big Four; garden-style open to independents.
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