12/11/2025
Planning your 2026 [lift] budget? Here's a formula that might work for you...
Most facility managers underestimate lift costs by 30-40%.
So, here's how to budget realistically and avoid those nasty surprises:
💷 The real cost breakdown (per lift, annually)
Routine maintenance contract: £2,000-£4,000
• Depends on lift age, usage, and building height
• Quarterly visits minimum for most contracts
LOLER Examinations (x2 per year): £300-£600
• Required every 6 months by law
• More for complex or older systems
Reactive repairs (average): £1,500-£3,000
• Even with good maintenance, things break
• Budget for 2-3 callouts per year
Parts Replacement: £1,000-£2,000
• Door sensors, buttons, lighting
• Older lifts = higher costs
Modernisation reserve: £1,500-£3,000/year
• Lifts last 20-25 years
• Full replacement: £50,000-£80,000
• Start saving NOW
📊 Total annual cost per lift: £6,300-£12,600
🎯 Budgeting tips:
Multi-year contracts save 10-15% – Lock in rates and get priority service
Group your portfolio – Managing 10+ lifts? Negotiate bulk pricing
Plan modernisation strategically – Don't wait for catastrophic failure. Planned upgrades cost 20-30% less than emergency replacements
Track actual spend monthly – Spot patterns and adjust budgets quarterly
Build a 15% contingency – For unexpected issues that WILL happen
❌ False economy alert:
Choosing the cheapest contractor to "save money" typically costs 40% MORE over 3 years due to:
• More frequent breakdowns
• Shorter parts lifespan
• Compliance issues requiring expensive fixes
• Higher emergency callout costs
The question to ask Finance:
👉 Would you rather we spend £8,000/year on proactive maintenance, or £25,000 when the lift fails catastrophically during peak usage?
How do you currently budget for lift costs / maintenance? What unexpected expenses have caught you off guard?
For a chat about your lift needs, get in touch. Email / Message / Call 🤙
Photo credit 📸 Jonathan Roberts - Photographer
