Multifamily Laundry Facilities

[Mike Mefferd]

We are currently buying a 24 unit apartment building that has on site laundry facilities. The prior owners were using a company that paid for the machines, serviced them and then sent them a check at the end of each month. They charged 50% of the revenues in order to do this. 

This is my first experience with on site laundry facilities and I'm curious to hear if this seems like a fair agreement, or if I should look into buying and servicing my own equipment moving forward. Any advice on how others handle this would be greatly appreciated!

Thanks,

Mike Mefferd

[Gino Barbaro]

@Scott Skinger 

@Mike Mefferd

We use Caldwell and Gregory, were using Coinmach until they decided to add an administrative charge into the contract.  They are going to lose our business. We have a podcast with a show dedicated to laundry. I think you should listen to it. I would always sub it out, have maintenance crew focus on units and customer service.

Gino