Hi, I'm Gareth from LPM. I have been working in the lift industry for about 18 years, mostly on the service and upgrade side. I started my career at Otis in the UK and moved to Australia about 12 years ago. That experience gave me a good understanding of lift maintenance contracts, the pricing and the models being used in the industry today, which is exactly why I created Lift Portfolio Management. We work on the opposite side of the fence, for the building side and for strata managers.
One of the biggest ongoing costs, and one of the least understood
Lift maintenance, and the lifts themselves, are one of the biggest ongoing costs of any building. It is also one of the areas people do not fully understand, because they are not technical and the contracts are up to 40 to 50 pages long.
What happens in practice
Mostly it is down to the lift company to manage the lift contract. The account manager has another 350 to 400 buildings to look after, and the people who get the service are the ones whose lifts are breaking down or having issues. So 20 or 30 contracts are being managed proactively and the others are just being managed. There is genuinely no slight on those guys. It is just how the industry operates today.
So what do we do?
We are looking at four elements.
Lift maintenance contracts. How they are managed and what we can do to help that situation for you.
Upgrades and modernisation. We help with scopes and pricing, and we make sure that what has been quoted is actually what should be done, so the building is not left open to technical dramas down the track and gets exactly what it has paid for.
Lift renewals. We run these through our platform. It looks at the contract currently in place and what is being offered, and whether there are any gaps based on the price or changes in scope and service.
Maintenance tenders. We reach out to three to four local suppliers and get their pricing. We run it through line by line, exactly what is included, whether there are any gaps and any differences. Our recommendation is based purely on facts and nothing to do with opinion. Then we sit down with you and help.
One thing you can do this week
Ask your account manager how many buildings they look after. If the answer is hundreds, ask when your building was last reviewed proactively rather than after a breakdown. That one question tells you where your building sits on the list.
We are working with 20 strata companies
We are trying to do something very different in the marketplace. We want to work with 20 strata companies. We say 20 because we believe that number is what lets us give the input and the time it takes to proactively manage a portfolio properly.
We act as the lift department for the strata company. We deal with any issues, questions and invoicing, and any backwards and forwards with the lift company, which is ordinarily left for you to deal with. You do not have to deal with it at all. We provide regular updates, we look at the savings, and we provide a summary month to month to be presented back to the committees you work with. Once the list is at 20, that is it.
If that sounds like something of interest and you have ten minutes, I would love to jump on a call. Absolutely zero pressure. Thanks again for your time.
If any of this sounds like your building, I would love to have a chat. Ten minutes, absolutely zero pressure, and you leave knowing where your lift contract sits.
Get in touch