Owning your own commercial laundry equipment for your business is great. From cost savings to improved efficiency, there are numerous benefits to investing in and upgrading equipment for your multi-housing facility. However, purchasing is not your only option. If you want to offer laundry services to residents without the hassle, you can also consider laundry room leasing. This rental option offers a number of benefits to multi-housing property managers and landlords.
What is laundry room leasing?
Laundry room leasing can work a variety of ways depending on what laundry expert you partner with. Generally, it works like this…
A laundry distributor, like Coin-O-Matic, pays you rent to lease your vended laundry room.
The distributor owns all equipment and is in charge of all installation, maintenance, customer complaints, etc.
The distributor collects and keeps a portion of the profits from vended machines.
Benefits of Leasing
1. Save time & energy.
Managing a multi-housing laundry room takes effort. You have to deal with ongoing maintenance of your machines, money collection and management, customer complaints, and more. It can be a lot of added stress and time when you’re already balancing multiple other tasks and managing your rental properties.
With leasing, you don’t have to worry about a thing. The laundry experts you partner with take care of all the details — including installation and maintaining the washers and dryers. That means less stress and hassle for busy landlords like you. At Coin-O-Matic, we even have live customer service representatives for your residents and customers to call regarding refunds, damaged clothes, and other issues, which eliminates you as the middleman.
2. No additional expertise needed.
It’s often said that people in the laundry industry are jacks of all trades. In order to properly run and manage a commercial laundry room, it definitely helps to have a broad background. You’re part electrician, plumber, engineer, architect, business expert, and more as you take charge of installing and maintaining your commercial washers and dryers, designing your laundry room space, and managing the financial aspects.
All of the above is a lot for one person to tackle and understand, especially when the laundry industry isn’t your primary business focus or area of interest. With laundry room leasing, you can trust that a team of experts who know all there is to know about commercial laundry equipment is taking care of the technical stuff. That means less research, training, and troubleshooting for you and your team allowing you to focus on the areas of the real estate industry you’re really passionate about.
3. Upgrade equipment when you need it
The laundry industry is changing and expanding faster than ever before. There are constant improvements and upgrades when it comes to controls, energy-efficiency, design, and more. By leasing your laundry room, equipment can be upgraded at the end of each agreement. You can rest easy knowing you and your tenants are always getting the most efficient, top-of-the-line commercial machines for your apartment complex or condo. That updated equipment can be a great selling point as you look to fill vacant properties and outshine the stiff competition in and around the greater Chicago area.
4. Zero upfront costs.
Purchasing laundry equipment is a solid investment for your multi-housing facility, but it’s just that — an investment. That means you have money on the line. There are financing options available, but there are still upfront costs when you’re purchasing laundry equipment for your rental properties. For businesses that are just getting started, purchasing laundry equipment may not be the best financial option. For others, there are just more important remodel and real estate ventures you’d rather spend your money on. That’s totally ok! Leasing your laundry equipment means there’s literally no upfront costs for you, so you can spend your money as you see fit.
Lease with Coin-O-Matic
Coin-O-Matic offers customized laundry leasing and rental options for multi-housing facilities all around Illinois and northwest Indiana. Our tailored proposals can help take the stress off of you while still giving your tenants, customers, and employees access to the laundry equipment they need. Contact our leasing specialists to see if leasing might be the right fit for your business!