Washer and dryer expenses?

[Account Closed]

To the experience investor. I am looking a six-plex with no washer and dryer hookups. I am thinking of adding 2 washers and 2 dryers to increase income. For the BP analysis, What is the average price to upkeep these machines? Do you recommend doing it? What are some considerations?

[David Brent]

There are service providers who provide machines and maintain them. (google search) You pay for water/electric/gas, and typically split 50/50% of the mos revenue.   These contracts lock you in for a LOOONG time (5-7-10 years).  This is the recommended approach.   HOWEVER- they typically provide a rule of thumb: 1 W/D set for every 10 units.  you may be too small to qualify.  (Or, they may reduce the revenue split to a nominal amount for you.  you probably just dont have the volume to support their business model unless you are surrounded by other apartments they service.)