coin op laundry charges?

[April O.]

I'm in the process of buying a 4-plex. It already has a coin op washer and dryer installed. What is the normal charge per wash and dry?

[David Krulac]

@April O.

Here's how you run comps for laundramat rates. Check out what all the nearby laundramats are charging. If there is no nearby competition then you can charge a little more for the close proximity of your WD. If there are none in your town, you can charge even more. If there is a deluxe place across the street, then you probably have to charge less.

You have to remember to empty the coin deposits, as they can accumulate faster than you think.