Number of washers/dryers at 80 unit

7 Replies

I acquired an 80 unit complex early last year that featured a coin operated laundry room. There's a total of ten machines, five washers and five dryers. One washer and dryer recently went out and is beyond repair. I was planning on replacing each, however, the laundry room generates only $100 each week. Based on the run price of $1.50 per cycle, the washer and dryer is run about 33 times each every week, or around 5 times a day. As a result, I'm leaning towards not replacing and just having 4 washers and 4 dryers. Thoughts? I feel like there should be more machines present, however, collections are low.

@Kyle R. your collections are really, really low based on the research I have done! I have a 9 unit apartment building in Berwyn right outside of Chicago, and we average more like 125-150 per month in collections. Are you trying to optimize your income from the laundry, or is it just there as an amenity? I would survey your residence and see if the machines are working well. It seems like maybe it is time to update the laundry room so that your can get more income from it. 

The machines are expensive, but one other nice thing is that modern machines can accept blue tooth and internet money collection. I looked into pay range quite a bit, and liked the look of their product. 

Originally posted by @John Warren :

@Kyle R. your collections are really, really low based on the research I have done! I have a 9 unit apartment building in Berwyn right outside of Chicago, and we average more like 125-150 per month in collections. Are you trying to optimize your income from the laundry, or is it just there as an amenity? I would survey your residence and see if the machines are working well. It seems like maybe it is time to update the laundry room so that your can get more income from it. 

The machines are expensive, but one other nice thing is that modern machines can accept blue tooth and internet money collection. I looked into pay range quite a bit, and liked the look of their product. 

 Thanks for the note. As of now, I'm viewing the laundry room as an amenity. However, I'd like to optimize my income as the current collections are very low. It's a class C/D property, so I'm hesitant to pour too much money into machines as they'll be beat up.

Any recommendations as to manufacturers? So far I've found Speed Queen to be the best, and Whirlpool not far behind.

Kyle

I just recently purchased a Whirlpool set for my 8 unit property and have been very happy with the set so far.  My brand decision ultimately came down to the relationship I have developed with my appliance vendor and the lines they offered.  Keep in mind the value of developing this relationship now for future needs and possible repairs.

Good luck!

8 sets would be about right if everyone was using it and gross monthly collections of 1200-1400.

Thank you all for the input, I’m going to order a new Whirlpool washer and dryer.

Part of the reason collections could be low is that I do not have a quarter dispenser in the laundry room. Theft is a concern as the laundry room was broken into last year.

Originally posted by @Kyle R. :

Thank you all for the input, I’m going to order a new Whirlpool washer and dryer.

Part of the reason collections could be low is that I do not have a quarter dispenser in the laundry room. Theft is a concern as the laundry room was broken into last year.

 Cameras would be a good idea if not already installed. Would be good for you and for your residents safety. Are you managing this yourself? The numbers seem extremely low so I'm curious if someone else is collecting and skimming? 

Originally posted by @Troy S. :
Originally posted by @Kyle R.:

Thank you all for the input, I’m going to order a new Whirlpool washer and dryer.

Part of the reason collections could be low is that I do not have a quarter dispenser in the laundry room. Theft is a concern as the laundry room was broken into last year.

 Cameras would be a good idea if not already installed. Would be good for you and for your residents safety. Are you managing this yourself? The numbers seem extremely low so I'm curious if someone else is collecting and skimming? 

I don’t manage it, I outsourced it to a management company. However, I’m the only one with keys to open the coin boxes.

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