Does laundry machine company pays us for using their machine??

Question

If i keep laundry machines in my apartment for tenants to use will that laundry machine company pays me for keeping their machines in my apartment?

Nathan Gesner · Answer

There may be a company that does some kind of profit-sharing, much like snack vending machines. I don't think it would be worth it unless you did it to scale.

Buy a decent, used washer/dryer set that is just a few years old for under $500. You can usually increase the rent $50 a month with the machines included. They'll pay for themselves in ten months or less and then you're making profit.

Jim S. · Answer

The units that I provide a w/d I have in the lease that it is for the use of the tenants that live there, not anyone else. Don't want them to invite their friends over for free laundry. I also put in the lease it may take several weeks to repair or replace if they break down since they are not a necessity.

Greg M. · Answer

This is common. I think we split revenues around 50/50. The company even kicked in money to remodel the laundry room. The 50/50 split doesn't make a lot of money, but it can cover the cost of water and electricity.

Jasraj Singh · Answer

Alright! thanks a lot for responding man!

Greg M. · Answer

No. They get 50% of the revenue to cover the cost of the machines and the maintenance.

Eric Vasilopoulos · Answer

Do they also charge you for a monthly fee per machine?

Jasraj Singh · Answer

Alright! thanks a lot man!

appreciate it!

Greg M. · Answer

It wasn't designed to be a big money maker. The 50/50 split works well in that we didn't have to buy the machines and when they break down the company comes out and fixes or replaces them for free. Our cut covers the water and electricity/gas and also makes a little money, but not a lot. We could probably raise rates a little and still be fine, but the building is extremely close to a laundromat. Therefore, we view it more as a convenience instead of a money maker.

Jasraj Singh · Answer

Alright! thanks but how do you make money from that?

Jasraj Singh · Answer

Oh alright! thanks a lot for responding!m

appreciate it

Does laundry machine company pays us for using their machine??

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