8 Financial Benefits of Offering Laundry Services in Multi-Housing Properties

Are you making the most of your property’s laundry room? As a property owner, landlord, real estate investor, or multi-family housing developer, you’re juggling endless tenant requests, turnover costs, and the constant push to stay competitive in the rental market. Your laundry room holds the potential to do more than just clean clothes. With the right setup, it can become a reliable income stream and a key to retaining tenants longer. And the best part? It doesn’t have to add to your workload.

1. Increased Rental Income: On-site laundry is a highly sought-after amenity, allowing you to charge higher rent for units with convenient access.

2. Improved Tenant Satisfaction: By eliminating the hassle and time spent on off-site laundry trips, you enhance tenant satisfaction and reduce turnover, leading to lower vacancy costs.

3. Enhanced Property Value: On-site laundry increases property desirability, making it more competitive in the rental market and potentially increasing its resale value.

4. Passive Income Stream: Laundry machine usage fees generate consistent revenue with minimal ongoing management, providing a reliable source of income.

5. Reduced Operating Costs: On-site laundry can potentially reduce overall water consumption costs for the property by minimizing in-unit water usage.

6. Attracts Higher Quality Tenants: This amenity appeals to a wider range of renters, including families and professionals, who are often willing to pay a premium for a desirable living environment.

7. Competitive Advantage: Offering on-site laundry differentiates your property from competitors, giving you a significant edge in the competitive rental market.

8. Improved Community Building: Laundry rooms can become social spaces where residents interact, fostering a sense of community within the property.

Upgrading Your Laundry Room for 2025 and Beyond

When it comes to upgrading your investment property’s laundry room, the team at Coin-O-Matic has these recommendations for you:

• Consider switching to card-operated or mobile/app-based payment systems for enhanced security, cashless transactions, and possibly loyalty programs for tenants. 

• Focus on Energy Star-certified machines featuring advanced capabilities like rapid extraction and efficient drying cycles to lower energy usage and operating expenses. 

• Invest in gear tailored for high-volume applications in multi-housing environments, ensuring durability and solid construction to handle frequent use and reduce downtime. 

• Select machines with noise-reducing elements to lessen disruptions for other residents. 

• Make sure the laundry area is well-lit, clean, and organized to foster a welcoming atmosphere for tenants. 

• Collaborate with a reliable laundry equipment partner who brings the experience and expertise your property requires. 

Boost Your Bottom Line with Managed Laundry

At Coin-O-Matic, we offer laundry room leasing and revenue sharing for property owners throughout Illinois, Indiana, Michigan and Wisconsin. We will install and maintain state-of-the-art commercial washers and dryers and the latest vending technologies to get your laundry room refreshed and ready! Once installed, we’ll work with you to set vend prices for wash and dry cycles, collect the money from tenants, and handle all of your residents’ customer service calls. This allows you to generate revenue from your laundry room without having to manage it yourself.

In short, we’re ready to revamp your laundry room, manage it entirely, and share the profits with you! When you’re ready to learn more, stop in and see us at our Alsip, IL showroom, give us a call at 708-377-3408 or fill out our contact form, and let’s get started!