Builtin Coin laundry machine vs coin timer connected to machine

[Steve Mcdonald]

Hi All,

I am deciding on washing machine with built in coin box or washing machine connected to coin timers.

My concern was if the coinbox attached if the timer get over before the machine completes or if tenants put example 2 quarters which I would thing would give 10 mins wash time and then hanging in the apartments to dry the clothes (Never know today people try all different things).

Also which washer brands is better - Whirlpool, Maytag, Speed Queen, Crossover.

Wanted to know your experiences.

Thanks,

Steve

[Jeff Bridges]

Originally posted by @Steve Mcdonald:

Originally posted by @Jeff Bridges:

speed queens are the best and as a result, are usually more expensive. There is usually no timer based coin-op for washer, they are programmed to pay per wash cycle. 10 minutes isnt long enough to rinse out the detergent anyway even if that was a thing:) Only dryers pay by dry time, but usually even those usually require a default 40 minutes for example and extra quarters would add increments. How many units is your building? Have you considered outsourcing to a vendor that splits revenue, provides free machines and repairs or is your building too small? Laundry is not usually a money-maker and is a break-even sport at best. 

Thanks Jeff for your input. The building has 3 apartments. I am looking to put 1 coin washer as all the tall building around except 2 and 3 family have them. The laundromat is couple of blocks away. Since NY has rain and snow and lot of walking I was looking this convenience would bring more better tenants. Since the tall building have the conveniences of laundry downstairs and I would be able to compete better.

 Really tough. 4 units is usually the bare minimum folks would consider installing coin-op due to high up-front machine costs. The scale is not really there. Some provide free machines but maybe price in the extra utility cost of the amenity into the rent. But you're going to be spending 600-1000 per machine for a used/new speed queen and only be getting revenue from 3 units. Maybe $14 per month from each unit? Thats not enough to justify machine purchase, utilities used, and maintenance and repairs. Oh an you also get a 2nd job as coin collector and machine break/fix customer service. making tenants walk 3 blocks doesnt sound as bad.