Multi-family coin op or app based washers and dryers

[Josh Sellers]

Hey All, I have a value add opportunity here to get a coin op or app pay based washer and dryer into a multi-family I'm looking at buying. Are there any recommended brands for longevity or ease of use? 

I've never managed a unit with a pay per use system before. Are there any gotchas that have come up while managing your own? 

Thanks in advance!

[Percy N.]

We try to stay away from the coins for the following reasons:

• Less convenient for our residents
• Prone to theft
• If the coin hopper  is not cleared regularly it can jam and make machine unable
• Tend to be older machines and more maintenance

Today, my first preference would be app based, followed by a magnetic card which can be reloaded via a machine in the office. Last would be coin based.

Buying vs leasing is a whole thread in itself and depends on a number of factors. The contracts from the large laundry equipment company tend to be more draconian and with the lack of service we have experienced with CSC in our market, I am weary of renewing and just buying the machines ourselves (yah - bonus depreciation).