The hidden cost of waiting: Why elevator modernization matters

MORRISTOWN, NJ, August 03, 2026  – When an elevator goes out of service, the impact extends far beyond the equipment itself. From unplanned repair costs and passenger complaints to disruptions in day-to-day operations, aging elevator systems can create hidden challenges for building owners and managers. As equipment continues to age, the cost of delaying modernization often becomes greater than the investment required to repair it.

In a recent article featured in Construction Executive, the Senior Vice President of Modernization at Schindler, Joe Bera, shares his insights on the hidden costs of delaying elevator modernization, including the impact on operating expenses, tenant satisfaction, and long-term property value. Read the article to learn how proactive planning can help building owners avoid unexpected disruptions and make informed modernization decisions.