Everyone has to do laundry, so it’s no surprise that laundry services are one of the top amenities that renters are looking for. When building or updating a renter property, landlords can often struggle with whether to offer a community laundry room or provide in unit laundry services. Let’s take a look at the pros and cons of each to help you figure out what might work best for your property.
Pros of Community Laundry Rooms
- They require fewer machines than putting one in each apartment, which means lower initial costs for investors and lower ongoing utility costs.
- They can be a hub for residents and foster a sense of community in the facility. That sense of community can lead to less tenant turnover and increased safety in the building.
- You can charge residents to use the machines, which provides an additional income source.
- Add vending machines in the community laundry can also provide additional revenue opportunities.
Cons of Community Laundry Rooms
- You’ll be in charge of cleaning and maintaining the community space, which can add additional stress and work in an already hectic schedule.
- If you opt to purchase the equipment, you’ll be responsible for any upkeep costs, including machine maintenance and replacing damaged washers and dryers.
- Despite offering laundry services, renters may still opt to use an off-site facility.
Pros of In-Unit Laundry Rooms
- Renters are willing to pay more for the luxury of in-unit laundry, which means you can feasibly charge more for rent.
- The perk makes your rentals more desirable, which means your vacant properties will rent quicker, and you’ll attract more qualified renters.
- Machines see less use than ones in the community laundry room, so they’re likely to last longer and require less maintenance.
- Renters will take care of cleaning up their own laundry area.
Cons of In-Unit Laundry Rooms
- You’ll have to buy washers and dryers for each apartment, which means a higher initial investment for property owners.
- If they purchased the machines, property managers are often still responsible for maintaining and replacing in-unit appliances if they break down.
- If you pay for water and electric for the property, more machines can mean higher monthly utility costs.
In order to keep costs low and avoid additional stress for property owners, many laundry distributors like OEM offer route leases. Route leases are where the distributor maintains ownership of the equipment, handles service and maintenance of the machines, collects the money, and shares revenue with the property owner.
Whatever you decide is the best fit for your rental property, we’re here for you. From finding the right equipment for your property to installation and maintenance of the machines, our team of laundry experts is here to help. Contact us today to discuss laundry needs at your new or existing residential property.