With utility prices on the rise, many rental property owners are wondering whether offering on-site laundry is still worth it. Since laundry machines are expensive, we understand that reasoning. However, there are still many reasons to have on-site laundry available. Check out these five ways offering on-site laundry can help your apartment.
Provide Tenants Convenience
Tenants don’t like having to use laundromats. Going to a laundromat requires transporting all their laundry somewhere else and doing it all at once. By having on-site laundry, you make things much more convenient for tenants, which increases demand for your units.
Another reason tenants prefer on-site laundry over laundromats is that it’s safer. Since the laundry room is private, people don’t have to wonder who will wander in off the streets. They’ll know that only their neighbors can use the facilities.
Charge Higher Rent
The more amenities you offer at your rental property, the higher you can charge for rent. Providing services for tenants requires more money, so most people understand what they’re paying for. Even though laundry machines can be expensive to purchase and require regular maintenance, higher rent prices can offset and supersede those costs.
Avoid In-Unit Laundry
Although in-unit laundry machines are the most convenient for tenants, they create a lot of disruptive noise for neighbors. Encouraging tenants to use on-site services keeps all the noise contained in one place. We promise you’ll get fewer noise complaints this way.
Earn More Passive Income
Having a laundry room is an opportunity for all kinds of passive income. You can put vending machines inside the room or even arcade games for people to play while they wait. This way, you can generate extra income while providing a convenient service for your tenants.
We hope you’ve enjoyed reading these five ways offering on-site laundry can help your apartment. Too many rental-property owners underestimate the value of a quality laundry room for business.
If you’re looking for commercial laundry machines to set up an on-site laundry facility on your property, check out ShinePay. We carry major coin-operated machine brands like Maytag and SpeedQueen, all of which are compatible with ShinePay’s mobile payment app. Your tenants can pay by app or by coin, while you keep track of it all on our platform. Contact us today for more information.