Unsettling noises, cabin vibrations, and sudden stops; these are the signs of a worn-out elevator that no longer complies with modern standards. For many managers of older buildings, the question arises: should we continue with sporadic, costly repairs, or make a one-time, sound investment in modernizing and renovating the elevator? This article serves as a comprehensive technical guide to show you why renovating old elevators is far more than a cosmetic change—it is an undeniable necessity for ensuring safety, reducing costs, and increasing your property’s value. If you want to know what this process involves, what its benefits are, and how the costs are estimated, stay with us until the end of this article.
Why is Modernizing an Old Elevator a Necessity?
Ignoring the wear and tear on an elevator can have serious consequences. The technology in this industry has advanced significantly over the past two decades, and there are compelling reasons to upgrade old systems:
Safety, the First and Foremost Priority: Key mechanical parts like the braking system (safety gear) and hoist ropes wear out over time. Older systems lack modern safety features such as door safety curtains (photocell sensors) and an emergency rescue system for power outages. Enhancing the safety of an old elevator is the primary achievement of a standard renovation project and is directly linked to the lives of the residents.
Significant Reduction in Power Consumption: Old geared motors consume a very high amount of electricity. By replacing them with modern gearless motors and using Variable Voltage Variable Frequency (VVVF) drives, elevator energy consumption can be reduced by 40% to 60%. This translates to substantial savings on the building’s utility costs.
Enhanced Comfort and Ride Quality: A smooth, shock-free ride, precise leveling with floors, and reduced noise pollution create a much better user experience for residents and increase their satisfaction.
Lower Maintenance and Repair Costs: Spare parts for old elevators are scarce and expensive. Frequent breakdowns impose significant ongoing costs on the building. With modernization, you will have a new system with readily available parts that will not require major repairs for years.
Increased Property Value: A modern, beautiful, and safe elevator is a competitive advantage for your building and has a direct impact on the valuation of its units at the time of sale or rent.
How Much Does Elevator Modernization and Renovation Cost?
Providing a fixed price without a technical inspection is impossible, as the cost of elevator renovation depends on several factors. The most important price-determining factors are:
Scope of Work: The cost of a purely cosmetic renovation (Level 1) is completely different from a technical upgrade that includes the control panel (Level 2) or a full motor replacement (Level 3).
Capacity and Number of Stops: The cost of renovating a 4-stop elevator will not be the same as a 10-stop elevator due to differences in the amount of materials and complexity of the work.
Brand and Quality of Parts: The choice between high-quality European, Turkish, or Iranian parts has a direct impact on the final project cost.
Condition of the Infrastructure: In some cases, the elevator shaft or machine room may need preparation or improvement, which adds to the project’s cost.
In general, the cost of a complete and standard modernization project is typically between 30% and 60% of the cost of installing a brand-new elevator. This is an investment that will pay for itself in the long run through savings on electricity and repair costs.
Modernizing and renovating an old elevator is not a luxury choice; it is an intelligent and essential investment based on four key principles: Safety, Comfort, Savings, and Added Value. By implementing a proper renovation project, you not only ensure the smooth and safe operation of your elevator for years to come, but you also contribute to the building’s economy by reducing energy consumption and maintenance costs, and significantly increase your property’s value by enhancing the public space. Instead of waiting for the next major breakdown, take action today to upgrade the beating heart of your building.