Getting a Handle on Your Elevator Maintenance Contracts

 

By Diane Rawson

 

 

It has happened to the best property managers: You forgot or didn’t know that an elevator maintenance contract term was ending and didn’t send a timely cancellation notice.

Most elevator maintenance contracts are long-term agreements that have automatic renewal terms. Missing a contractually required cancellation notice period can lead to an outdated elevator maintenance contract renewing typically into another 3 to 10-year term. If your contract requires a 90-day written notice before the end of the term and you realize that 88 days before the end of the term, you have missed your cancellation window and lost valuable leverage to renegotiate or obtain a new agreement that meets your current needs.

Auto-Renewal Clause + Missed Cancellation Notice = New Contract Term

Unfortunately, with inevitable personnel changes and information overload, missing the cancellation notice period at the end of a long elevator term is all too easy.

Why wait for an avoidable contract oversight to create chaos instead of getting a handle on your maintenance agreement terms NOW? AuditMate CARE subscription customers can relax knowing that CARE is always monitoring their approaching term end dates so that they never miss a required cancellation notice period again.

An AuditMate CARE Subscription = Never Miss a Cancellation Window Again

Ask us how CARE can monitor your entire elevator portfolio so you always have a handle on your maintenance contracts. We monitor over 200 data points so you don’t have to!

 

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