Coin-operated laundry ROI in a 4-plex

[David Bardwell]

I’m considering purchasing coin-operated washer and dry for a 4plex.  I’ve already determined the cost of the equipment itself. And I’ll price it better than the local laundromats. But I’m hoping someone can give me some type of metrics or rule of thumb to determine how many wash and dry ‘transactions’ I should expect a 4 unit building (2br ea) to use during a month. 

[Bruce Gardner]

@David Bardwell Two things:

1). We’ve charged a flat monthly fee ($50-90) for use of the W/D without any issues.

2). I’ve “heard” that coin operated is not a good idea. I’ve had some conversations with folks who do student housing, and maybe even read something here on BP forums about it. Coin laundry causes the tenants to ruin the machines by cramming more laundry than physics would allow to try and save a few bucks. The machines will break more often and wont last as long.

Our approach has been either a monthly fee, or FREE laundry as a perk. Won’t do coin operated.