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General Landlording & Rental Properties

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Michael Wolffs
  • New York City, NY
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Value and expenses of in unit laundry

Michael Wolffs
  • New York City, NY
Posted May 7 2014, 13:24

I'm renovating a triplex. In the process of interviewing contractors, one of them brought up the idea of putting laundry machines in the units. The alternatives are putting pay machines in the basement, or not providing anything. There are no laundromats in the immediate area, so not providing anything may be a problem for the tenants.

With the pay machines, the value is obvious (what you collect), however units in the apartments will likely be a good lever to get somewhat higher rents. I also tend to think the pay machines will be sturdier. For the in unit machines, beside the standard stackable conventional units, I'm thinking about single unit combo washer/driers (space saving, easier installation, and probably cheaper.) Again, I don't know how sturdy they are.

Does anyone have any experience with this. How does laundry affect rents (up the scale from nothing, to coin-op, to in-unit)?

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