Converting coin laundry to card laundry

Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes

I have a small multifamily with a coin washer and coin operated dryer. I would like to convert them to card machines. Does such a conversion exist? Would it be brand specific?

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Bill ThompsonPro Member

Rental Property Investor · Jamaica Plain, MA · Member since 2015 · 60 posts · 88 votes

10y

If your tenants are the type to drill out the coin drawer lock you may have bigger problems to worry about. Perhaps a hidden surveillance system to catch the culprit will be money better spent. Just saying...

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Ken Barrett
Specialist · Anniston, AL · Member since 2013 · 59 posts · 32 votes
10y
It's done all of the time.
There are a few brands that do this that will work wirelessly between a dedicated router and each machine. This also allows the existing coin slots to be used so if the card reader or wireless has a problem you can still run.
The card reader will keep track of the coins deposited so you know if the coin boxes are filling up.
Some brands link everything together and eliminate the coins altogether but it may be all or nothing if it fails.
How many machines do you have?

Send me a message and I can connect you with someone local that can get you connected.
Ken
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Sergey TkachevPro Member
Investor, Agent, CPA · West Sacramento, CA · Member since 2009 · 706 posts · 262 votes
10y
I'm wondering about this as well. My assumption is that any kind of credit card system would require internet connectivity at the building, am I correct? So if an internet connection is not an option, my guess is that a credit card system will not be an option either?
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Sam R.
OP
Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes
10y
@Ken Barrett I am only dealing with 2 machines total. 1 dryer and 1 washer in an 8 unit building. I would rather not have any coin slots or "cash" on site. Tenants would have to refill cards at the management office. I too would like a solution that does not require internet access. I think this would be smart cards with a chip, but not sure.
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Adam BartomeoBusiness Member
Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
10y
I would advise staying with the coin. I have done massive amounts of research on owning and operating coin laundries. There is zero proof that card systems work better, generate more income or make life any easier. There are a lot of opinions about which is better but nothing concrete. I would avoid the cost of putting in a card reader especially with just two machines.
My cousin owns two laundromats and he has tested card readers. He also feels there is minimal impact and will continue with the coin.
[email protected]239-339-3969
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Sam R.
OP
Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes
10y
Originally posted by @Adam Bartomeo:

I would advise staying with the coin. I have done massive amounts of research on owning and operating coin laundries. There is zero proof that card systems work better, generate more income or make life any easier. There are a lot of opinions about which is better but nothing concrete. I would avoid the cost of putting in a card reader especially with just two machines.
My cousin owns two laundromats and he has tested card readers. He also feels there is minimal impact and will continue with the coin.
My coin drawer locks have been drilled out twice in the last 6 months. Surely a card system would prevent drilling the locks and stealing the coins?
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Adam BartomeoBusiness Member
Real Estate Broker · Cape Coral, FL · Member since 2015 · 2k+ posts · 1k+ votes
10y
I would get rid of the laundry or let them do it for free. Just my opinion
[email protected]239-339-3969
Bartomeo Property Management4.7150 Reviews
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Ken Barrett
Specialist · Anniston, AL · Member since 2013 · 59 posts · 32 votes
10y
There are some coin boxes that are harder to drill. There are companies that make additional guards for the machines as well.
My Laundromats are all coin and I'm converting some machines to Quarter/$1 Coin/$1 Token.
I know a few Card Store owners that would never go back to coin. In the future I will probably add the card in addition to keeping the coin to cover all customer needs and provide better tracking of machine usage.
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Bill ThompsonPro Member
Rental Property Investor · Jamaica Plain, MA · Member since 2015 · 60 posts · 88 votes
10y
If your tenants are the type to drill out the coin drawer lock you may have bigger problems to worry about. Perhaps a hidden surveillance system to catch the culprit will be money better spent. Just saying...
3 Reply
Sam R.
OP
Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes
10y
Originally posted by @Bill Thompson:

If your tenants are the type to drill out the coin drawer lock you may have bigger problems to worry about. Perhaps a hidden surveillance system to catch the culprit will be money better spent. Just saying...
It is not the tenants, but friends of a inherited bum tenant. However, that is all off topic. I am really just interested in system/brand recommendations for converting to card.
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Sam R.
OP
Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes
8y
Originally posted by @Account Closed:

Consider mobile systems which work with an app keeping the cost really low. The user brings the internet connection, the screen, and the payment processing. They provide the same benefits of card systems with the additional benefits:
That would have been really helpful...2 years ago. I ended up getting card readers right on the machines which connect to a bluetooth hub requiring internet access. I bought machines that don't even accept coins. So far it has worked out quite well and sure beats counting coins. The tenants have been enjoying the convenience as well.
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Sam R.
OP
Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes
8y
@Account Closed I did take a good look at your system, I only said it was too late for me. Then you had to post that. Those numbers are so incredibly inaccurate/dishonest. No fool pays $70/month for wifi. Now I wonder what else about your system is dishonest.
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Peter MositesPro Member
Rental Property Investor · Vero Beach, FL · Member since 2018 · 15 posts · 2 votes
8y
Hi Sam,
Would you be willing to share details/costs on the machines and system you went with in the end? Going through a similar situation, but with a triplex, and not sure it would be worth the extra money up front.
Thanks!
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Sam R.
OP
Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes
8y
@Peter Mosites, I bought Speed Queen washer/dryers with a card system called Spyderwash. Tenants can use credit cards or their phone to pay. A complete setup for each location including washer, dryer, card readers, bluetooth hub, and installation was $5500. Monthly per location I pay $20 for internet and $10 for the card service. My locations are a 10-unit building and a 7-unit building. I do make profit. Unless your triplex has bigger units with families, it would not be worth it for a financial investment. Maybe just consider it just for a tenant amenity and relieving you the hassle of quarters.
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Peter MositesPro Member
Rental Property Investor · Vero Beach, FL · Member since 2018 · 15 posts · 2 votes
8y
@Sam R. Thanks so much for the info. Ya, it would definitely be overkill for my little triplex, but something to keep in mind for (hopefully) bigger and better complexes in the coming years.
1 Reply
Linda West
Investor · San Diego, CA · Member since 2018 · 62 posts · 16 votes
7y
Hello, all, I'm jumping in to get my feet wet :-( in the washer/dryer discussion. Have a quad with no existing laundry facilities and plan to add a coin up W/D for tenants' use. Enjoyed this thread but most info was ~2014. Could anyone with more current experience, esp in San Diego area, jump in and help? Suggestions on card/coin machines, brands for appliances, and any other info greatly appreciated.
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Cody L.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
7y
I buy the GE Speedqueen from Best Wash (the distrib for my area). I buy a VTM (which is the machine they use to buy the cards and also load credits on the cards). They are possible to convert but between the VTM and the new card reader bolted on, I'd just buy new machines.
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Cody L.
Rental Property Investor · San Diego, CA · Member since 2013 · 3k+ posts · 4k+ votes
7y
Originally posted by @Sam R.:

@Ken Barrett I am only dealing with 2 machines total. 1 dryer and 1 washer in an 8 unit building. I would rather not have any coin slots or "cash" on site. Tenants would have to refill cards at the management office. I too would like a solution that does not require internet access. I think this would be smart cards with a chip, but not sure.
Yeah, if you have an office to put the VTM do it for sure. I LOOVE having my own machines and a VTM in my office for tenants to load cards up. We sell the cards for $5. They cost $1. And we assume that the load/wash cost us a good deal less than 40% of what we charge even when you factor the depreciation of the assets.
Each time I go to Houston I love taking my giant brick of cash out and taking it to the bank for them to 'color up' into a few thousands bucks in hundreds.
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Ken Barrett
Specialist · Anniston, AL · Member since 2013 · 59 posts · 32 votes
7y
Look up ClearToken. You can put them inside any machine and use it to trigger the start. Vending machines as well
It uses an App and the Bluetooth on their phone so you don’t need WIFi.
No cash, no cards, no VTM just a deposit into your account
You can refund money back to their account if they have a problem as well
2 Reply
Justine Cal
Member since 2018 · 2 posts · 0 votes
7y
@Ken Barrett Can you post a little more about your costs with them? The only thing I could find was the customer cannot have more than a $2 balance or they get charged and every time they load money to the account it cost .50cents. Seems expensive. Any insight? Thanks!
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Theresa HarrisPro Member
Member since 2019 · 15k+ posts · 11k+ votes
7y
I don't know what system they use in the complex where I own an apartment. They changed it over to cards from coins which cut down on thefts. The cards can be easily reloaded, so the tenants can put as much money as they want on the card and don't have to buy a new card all the time. I don't think there are any fees with reloading the cards, it is all built into the price of the washer and dryer.
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Ken Barrett
Specialist · Anniston, AL · Member since 2013 · 59 posts · 32 votes
7y
@Justine Cal Did you talk to the company directly. Go to the Clear Token website and give them a call.
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Mat Buzz
Member since 2019 · 1 post · 0 votes
7y
Anyone know if you can convert a coin slide washer to coin drop so you can raise the amount higher than $2. Let me know. thanks.
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Jackie Hung
Member since 2019 · 5 posts · 1 vote
6y
Originally posted by @Sam R.:
@Peter Mosites, I bought Speed Queen washer/dryers with a card system called Spyderwash. Tenants can use credit cards or their phone to pay. A complete setup for each location including washer, dryer, card readers, bluetooth hub, and installation was $5500. Monthly per location I pay $20 for internet and $10 for the card service. My locations are a 10-unit building and a 7-unit building. I do make profit. Unless your triplex has bigger units with families, it would not be worth it for a financial investment. Maybe just consider it just for a tenant amenity and relieving you the hassle of quarters.

@Sam R, how did you get $20 internet service? I asked around and the cheapest is $60 through the cable company. Would love to find out how else to get cheap internet.

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Sam R.
OP
Investor · Bothell, WA · Member since 2015 · 88 posts · 55 votes
6y
@Jackie Hung I suppose it depends on your area. $60/month is high even for cable internet. Look for DSL, it is cheaper than cable internet. You could even get cell phone internet for close to $20/month. Credit card readers don't need fast internet or a lot of data. They are probably only using 10 MB a month.
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Daniel Resendiz
Member since 2020 · 1 post · 0 votes
5y
PayRange has been easy to use and install for me. One laundromat of mine has Spyderwash that charges 3% per transaction on top of a $40 monthly fee and requires card readers being drilled into the machines (The install price was high). Payrange was $20 per machine for the machine but $15 was refunded once the machine was used once with the Payrange app. There is no monthly fee, but they also charge a 3% transaction fee its more plug and play especially with speedqueen machines (IPSOs required tapping in to power lines and the wires from the coin reader). They do not require internet connection, they use bluetooth and the user pays with the phone.
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