Dispelling 5 Myths About Adding a Laundry Facility to Your Property

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Running a multi-unit property is a tough job. You have to maintain upkeep for entire apartment complexes or campuses and keep residents happy while maintaining a positive budget. Naturally, property owners are cautious about how and where they invest.

Laundry facilities are a popular point of contention within this line of work with some property owners swearing by them and others avoiding them at all costs. Here, we’re going to uncover some of the popular myths regarding shared laundry rooms to help property owners gain a better understanding of their value.

Myth #1: It’s too expensive to run.

As a property owner, you’re only going to make investments that make fiscal sense. And given the perceived cost of running a laundry facility, most people assume it simply isn’t worthwhile. The cost of purchasing the equipment, paying for repairs, and covering utility expenses seems too high for it to be worthwhile.

The Reality: A laundry facility is a significant investment for property owners. There’s no doubt about that. However, many people fail to see the ROI this investment can provide. Not only are properly-run laundry rooms highly profitable, but they also can increase resident retention. It’s an investment that can pay for itself multiple times over the years.

Myth #2: Tenants aren’t going to use it.

Understandably, owners are hesitant about putting money into anything that their tenants won’t use. After all, if renters don’t take advantage of what you provide, it’s essentially a waste of money. Unfortunately, it’s a common myth among property owners that residents will opt for laundromats instead of on-site laundry facilities.

The Reality: Laundry facilities are some of the most commonly used shared spaces in rental properties. The majority of people report doing laundry twice each week with nearly a third doing laundry every single day! Even tenants who currently do their laundry elsewhere will gladly settle for going down the hall instead of down the road. On-premise laundry facilities are incredibly convenient as they help tenants save time and money.

Myth #3: Laundry facilities require a ton of oversight.

Another common misconception about laundry facilities is the amount of time they require from property owners. You already have enough on your plate managing a multi-tenant property, so the idea of bringing on anything that demands more of your attention seems foolish.

The Reality: Modern laundry facilities with state-of-the-art equipment are almost entirely automated, requiring zero daily oversight from owners. You’ll only need to show up to collect cash and coins from the machines, clean up every once in a while, and manage the occasional equipment issue – which leads us to another common myth about laundromats.

Myth #4: Equipment upkeep is expensive and time-consuming.

There are two commodities property owners can never get enough of: time and money. That’s why so many believe a shared laundry facility is a net loss. Horror stories of busted and malfunctioning equipment fuel the myth that commercial laundry equipment requires constant maintenance, resulting in wasted time and investments.

The Reality: Modern, capable, and premium-quality commercial laundry equipment requires minimal upkeep. Property owners can avoid the time and money drains they fear by resisting the temptation to purchase low-quality, used machines. Plus, you can even find providers who offer same-day, affordable maintenance so you never have to worry about repairs.

Myth #5: Commercial equipment costs a fortune.

One of the strongest falsehoods surrounding shared laundry facilities is the cost of adding new commercial equipment. Property owners only have to take a gander at the price tag of a brand-new washer or dryer to get instantly turned off by the idea.

The Reality: It’s true that new commercial equipment is expensive. However, there’s another way for property managers to get the washers and dryers they need to open a shared laundry facility. There are commercial providers that will install equipment completely free while only requiring a fraction of your earnings. That’s free equipment for no extra work on your part!

Wondering where you can find a reliable commercial laundry provider? Look no further! The Coin Meter Company has been supplying local property owners throughout the northwest with state-of-the-art laundry equipment at no cost. We even offer routine servicing to keep things running smoothly. Contact us today to learn more about what we offer.