Different take on Coin-Op Machines
Hello everyone, just wanted to apprise the forum with a different setup - that I have not seen much info on - in hopes that it will better inform your decision-making process when adding/modifying on-site laundry machines.
This rental property did not previously have any washer/dryer machine on premises and because tenants were inquiring, I decided to add that amenity to keep them happy. I was considering a coin-op machine like Speed Queen coupled with ShinePay (or a similar coinless system) but the price was a bit steep for me. I did not consider adding regular washer and dryers and increasing the rent as I don't want to run the risk of tenant's family members/friends coming to the property for free laundry service. It had to be coin-operated in my opinion.
I came across MQTEK coinboxes that essentially converts your machines to coin-operated ones but there weren't many reviews. I took a gamble and ordered a pair and a set of a new washer and dryer from Best Buy. (I haggled them on a lower price for the pair based a similar set that Costco was selling for a couple hundred dollars cheaper. They got it down to $1188.01 from $1457.98). I know I could have saved more by purchasing a set of used machines but I'm gambling on a new set giving me years of service. Time will tell if this proves true but either way, if one goes down, I'll just swap in a cheap, used one. I installed these back in October and *knock on wood*, so far so good.
Cons are - of course - you have to collect, count and deposit your rolls of quarters. Personally, this doesn't bother me as I regularly visit the property and find that it doesn't take up much time at all. Some may prefer not to and opt for something like ShinePay which I was heavily considering but the device itself is relatively expensive, they take $4 for every $100 and it just seems like there's room for more issues to arise whether it be with the software and/or its components, customer support, increase in fees in the future, compatibility issues with tenant's phone, etc., etc.
Here's the setup. Also, I went with a gas dryer believing that it's the more economical choice given that gas is cheaper than electricity.
