Importance of Elevator Specialists in Reserve Fund Studies
Having an elevator specialist review the elevators in a building as part of reserve fund studies and condition assessments is crucial for ensuring appropriate financial planning of the property and identifying compliance and safety risks.
Elevators are complex systems with mechanical, electrical, and structural components that require expert knowledge to assess accurately. Since the A17.1/B44 code only allows elevator personnel to access the hoistway, this means an elevator specialist with appropriate licences and training is necessary as part of the team completing the reserve fund study.
A specialist can identify early signs of wear, safety issues, code compliance issues, potential requisite repairs or replacements, as well as future life cycle retrofit needs, which might not be obvious to a generalist engineer. This detailed evaluation allows for more accurate cost forecasting and ensures that adequate funds are allocated for repairs, retrofits, upgrades and life-cycle replacements. Failing to include an elevator specialist's insights could lead to unexpected expenses, extended downtime, or even safety risks for residents and users. This is particularly true given significant variation in quality of equipment, maintenance standards and obsolescence of equipment (which can be as little as 10 years post-installation). Site-specific assessments are necessary for accurate forecasting; simple budgeting based on a major replacement every 30-40 years does not ensure reasonable or responsible financial planning.
In some jurisdictions, standards or guidelines are clear about the need for an elevator specialist as part of reserve fund study teams. In Ontario for example, as per the applicable Act and PEO guidelines, condominium Reserve Fund Studies require “physical” observation of elevator components, including those in the hoistway. Since the B44 code only allows elevator personnel to access the hoistway, this means an elevator specialist with appropriate licences and training is necessary as part of the Reserve Fund Study team.
Professional Engineers Ontario, Guideline for Engineers Conducting Performance Audits and Reserve Fund Studies, June 2021