An Elevator’s Role In A Building’s Market Value

Modern elevator increasing a buildings market value

Raise The Value Of Your Property

As a property manager, you have to understand the role an elevator plays in the overall value of the property. While an elevator generally increases a building’s value, it can just as easily drive down the value when not cared for properly.

Create Coherency

If you remodel or renovate the entire building but leave out the elevator, people will notice. You may think that if the elevator functions, then you don’t need to fix it up. In reality, if your guests see an updated lobby, hallway, and other public areas, but your elevator looks like it belongs decades prior, they may see it as outdated and unsafe.

When you make upgrades to your building, try to match the elevator to the rest of your décor. In modern elevators, glass patterns are extremely popular. Additionally, metal, wood, and stone are trendy features that may increase your property’s value.

Upgrade for Modernization

There is a significant difference between stepping into an old, creaky elevator with outdated controls and stepping into the cab of an up-to-date, modern elevator. Clients, residents, staff, and guests are more likely to feel comfortable in a renovated elevator.

Not only are modern elevators safer and more energy-efficient, but they are comfortable and convenient. Modern elevators have fewer wasted trips and lower wait times. Many modern elevators have monitors that can alert you if there is a serious issue. For example, if your elevator is stuck on the track or experiencing pressure issues, you will receive and signal so you can get help right away.

If your elevator does not function properly or if it doesn’t match the overall theme, it could reduce your property’s curb appeal. At Puget Sound Elevator Company, we will provide you with the upgrades you need to raise your property’s value. Call 425-800-8256 or email us today to get started. 

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