New to Real Estate · Atlanta, GA · Member since 2024 · 5 posts · 3 votes
Going to walk a 92 unit in Atlanta tomorrow and I just got out of a call and a friend pointed out that washer and dryers may not be the best idea for stories higher than 2?? Didn’t realize that could be a problem because I’m sure apartments with even more floors have washers and dryers.
Will this be an issue? I know it depends to an extent on quality of work but is this a value add play or not? And how much would it cost??
Leasing a unit with W/D access is significantly more valuable to tenants than those that require the use of a common laundry or laundromat.
You should be able to install them pretty easily as long as you have proper access to a water/gas line/electric meter that can take the extra power for the dryer/washer.
Should be paying about $1-$1.5k retail for each addition, 94 units, I'd be looking at $600-$750 each.
Your friend, most likely, made that comment because of washer leaks. If they drip they can end up damaging the floors below, which, isn't a major concern as long as you can get to it quickly and start drying the affected areas.
I can say in my experience as a property manager, having leased multiple high-rises, that tenants certainly look for this feature when considering a new home to rent.