Do I really need to perform Due Diligence on these Elevators?

September 17, 2020

From the Desk of Chris Shields

Do I really need to perform Due Diligence on these Elevators? 

When you are buying a building, do really understand what is going on inside that elevator shaft?

 In years past, you could go into the Elevator Machine Room and get some vague idea/understanding of the equipment’s condition and if it has been reasonably maintained. Today, often on new equipment, everything is in the elevator shaft, so you likely may have no idea of what the condition is of that equipment. 

Whether you’re buying a building, or just taking over the management of one, it’s in your best interest to understand what you’re getting into. You want to know all that you can so that you can negotiate the best deal possible. You need to know what the actual remaining life expectance is of that elevator/escalator equipment so that you know how what to budget for in the future. 

VDA can provide you with the following: 

  • An Overview Summary of the equipment. 
  • A detailed description of Equipment and any notable Deficiencies 
  • A Maintained Condition Evaluation
  • A Life-Cycle Analysis Matrix
  • An ADA Compliance Analysis
  • A System Profile for Each Group
  • Recommended Schedule for Replacement / Upgrades
  • Budget Estimates

Let VDA help you identify exactly what you are getting into. A thorough “Due Diligence” performed by a VDA Elevator Consultant can not only save money but also prevent many years of headaches down the road. 

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Chris Shields

Senior Associate – Mid Atlantic Region

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