Laundry Systems (avoiding coin-op)

1 Reply

I'm purchasing a six unit in KCMO that has coin-op laundry machines. As an out of state owner, the coin system doesn’t work for me. Does anyone have experience with card payment systems with machines they own or with the service companies that lease and service their machines? With just six units, I’m not sure a service company makes sense.

I may simply provide the machines for use with no charge as a value to the tenant. Any feedback or recommendations would be welcomed. Thanks.

Thanks!

Jeff Hamlin

I likely wouldn't do it. I've had a tenant in a 24 unit building that seemed to add an extra $50/month in laundry. How do i know? When she got kicked out the coin dropped back down to normal. I don't know what she was washing but it would have made a huge difference if I was paying the water bill. A service company would likely work on those machines. Figure out where they were purchased and they will likely service them. The same 24 unit only had 2 washers and 2 dryers and we had the same company service them when things broke. The most frustrating part was that within 6 months maintenance calls had added up to the cost of a new high quality machine.

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here