Elevator Depreciation Reports

Provincial legislation restricts physical inspection of elevator components to designated elevator specialists — which means every standard Depreciation Report consultant, including us, must rely on typical lifespan projections and industry-average replacement costs. That's a reasonable estimate. But for a component that can cost hundreds of thousands of dollars to replace, "reasonable" may not be good enough.

We recommend Solucore, the largest independent Canadian‑owned elevator consultancy, with a national presence and a dedicated BC team. Their team of professionals include QEI‑certified (Qualified Elevator Inspector) experts, giving them provincial and national authority to assess elevating devices and provide technical guidance.

Our BC team brings extensive industry experience, including hands‑on backgrounds as elevator mechanics. This practical field knowledge allows them to identify issues that may not be visible in documentation alone and to provide realistic, building‑focused recommendations.

Solucore does not sell elevator equipment or maintenance. Their role is strictly independent evaluation, ensuring strata clients receive unbiased recommendations grounded in engineering, safety, lifecycle cost, and long‑term performance. They are the recommended elevator engineering partner for Strata Reserve Planners across British Columbia.

What a Specialist Report Changes

A Professional Elevator Consultant can assess the actual condition of your elevator system and provide accurate, component-specific replacement values — not averages. Elevator costs and technology vary significantly based on the number of floors, cab size, and manufacturer. A building with a 30-year-old hydraulic elevator and one with a newer traction system are not interchangeable in cost — but a standard lifespan table treats them similarly.

A Comprehensive Elevator Assessment is a clear 25‑year outlook, including:

1. Full Equipment Condition Review - We evaluate all elevator components for current condition, remaining useful life, and modernization requirements, including:

• Controller systems
• Hydraulic or traction machines
• Door operator & door equipment
• Communication systems (hands‑free emergency phone, TSBC compliance)
• Safety circuits & code compliance items
• Cab interior condition
• Machine room environment
• Hoistway and elevator pit conditions
• Entrance assemblies

2. Maintenance Quality Review & MCP Documentation - We review the Maintenance Control Program (MCP) to ensures SRP clients understand both the equipment’s condition and the quality of maintenance being performed — a critical factor in lifecycle planning; including the 

• Logbook documentation
• Missed maintenance
• Contractor performance
• Mechanical deficiencies
• Safety test records
• Technical Safety BC (TSBC) compliance documentation

3. Code Compliance & Safety Review - We assess compliance with CSA B44 Safety Code; Technical Safety BC (TSBC) requirements; Fire service operation; Door safety systems; and Emergency communication standards. Any deficiencies are documented with recommended timelines and budgeting.

4. Capital Planning & Budget Forecasting - Solucore provides clear, defensible budgeting numbers for small repairs and upgrades, up to full elevator modernizations. All costs are provided in today’s dollars, with realistic timelines based on equipment age, obsolescence, and industry trends.