I question if the lift needs to be replaced immediately or if at all. My strata recently received a proposal from the company that does our lift maintenance. The lift is probably out of service a couple of days a year for maintenance.
The estimated cost of replacement is $130,000 and the work is estimated to take 8 months. The cost could increase in certain circumstances so is likely to cost more and if more work is needed, the time to complete the work would also obviously increase.
As it stands the lift works and if the lift is out of service a few days a year it is less inconvenient for elderly and disabled residents than the eight months minimum it would be out of service to replace.
My real issue is if owners should accept the claims of the company that does the maintenance as it is sole source of information on the merits of replacement versus repair. The company in my view has a real conflict of interest as it may lean to the option most profitable to the company. We have at this stage no plans to accept the offer from the lift company but before we did I would want an independent assessment of the merits of repair versus replacement.