Last year, we invited all buildings with lifts to join in a Bulk Renegotiation to streamline lift maintenance contracts.
With this project, our goal was threefold: standardise terms of service and associated fees, guarantee comprehensive coverage throughout the contract, and strengthen negotiation power when establishing new contracts by consolidating expiration dates. These modifications have allowed us to efficiently manage our lift maintenance commitments while providing no price increases within the first three years!
Following the first round of renegotiations, we have achieved significant savings with our improved contracts. Our estimated cost savings over five years for all plans included in this stage of negotiations amounts to an impressive $1,308,320!
Unlocking Cost-Effective Savings for Strata Building Lift Maintenance Contracts with Strata Choice
At Strata Choice, we understand that lift maintenance contracts can be a significant expense for strata buildings. That’s why we have implemented a strategy to get our clients the best possible deal on their lift maintenance contracts. We combine multiple buildings into one tender process to acquire cost-effective savings for our clients. This way, they can enjoy the benefits of competitive pricing without sacrificing quality or safety standards. With our bulk energy tender process and efficient lift maintenance contract strategies, Strata Choice is committed to providing top-notch service while helping you save money.
Benefits and Considerations for Keeping your Lift Running Smoothly with a Professional Maintenance Contract
A lift maintenance contract in strata is a legally binding agreement between the strata plan and an authorised lift service provider that covers the repair, maintenance, and servicing of all lifts within the building. This agreement ensures that all elevators maintain their highest standards and remain in safe working conditions.
The contract typically covers all aspects of lift operation, including regular inspections and tests to ensure the safety of passengers; preventive maintenance services to reduce breakdowns; repairs for any technical issues; replacement parts as needed; and emergency call-out services. It should also specify how often routine inspections must be carried out, along with details about who is responsible for payment for repairs or replacements in case of an elevator malfunction or defect.
The contract should outline clear expectations when it comes to fault reporting, response times for both routine maintenance and emergency call-outs, who will be responsible for providing access to any areas where servicing may take place, along with details outlining any special arrangements that need to be taken into consideration when dealing with lifts inside secure buildings or inaccessible premises.
Owners Corporations will now benefit from the new and improved Lift Contracts
After a thorough review of all included lift contracts, the main objective was to ensure that each Owners Corporation could benefit from specific inclusions.
- Our Comprehensive Plus Cover provides a much-needed upgrade in comparison to many current contracts, particularly when it comes to motor fusion and penalties for missed service levels. By adding this package to our new contract, we can expect that all of your needs will be met and exceeded.
- To ensure that our clients benefit from the best terms and conditions, we have set a contract duration of 5 years. Although other contracts may stipulate longer durations of up to 10 years, we believe this is an ideal period to review options and secure the most advantageous deal possible.
- Through thorough negotiation with the lift contractors, we have ensured pricing is in line with market rates. What’s more, annual increments are capped to match Consumer Price Index (CPI) and rollover periods are restricted accordingly. To ensure maintenance schedules remain up-to-date, there are penalties for noncompliance included within our agreement.
At Strata Choice, we believe that proactive management of lift maintenance contracts is essential for any strata building to thrive.
By combining multiple buildings into one tender process and offering comprehensive cover with a contract duration of 5 years, along with assured pricing in line with market rates and penalties for non-compliance, our clients can rest assured knowing their lifts are well maintained while also saving money on the cost.
Our team works hard to ensure you get the best possible deal on your lift maintenance contracts so you can enjoy all the benefits without sacrificing safety or quality standards.