ROI of washer / dryer in multifamily 6 unit?

[Chris Anderson]

Looking into the option of installing a pay to use (coin/card) washer / dryer in a 6 unit multifamily. This could potentially add monthly income, but also be a benefit and convenience for tenants.

Investigating machines that accept electronic payment only as I am out of state and this would remove the need for onsite collection of coins.

1. What are you charging per use?
2. What is your ROI?
3. Any brand recommendations?
4. Is it worth it?

[Richard F.]

Quote from @Alex Ramirez:

@Chris Anderson there are companies that will do this for you. They will literally put the machines for you and run them including maintaining them and the split is 50/50 most of the time. Not sure where you are at but you don’t really want to have the liability of faulty machines and having to deal with them. Let me know if you have any questions 

 Aloha,

Some coin-op companies will also give you an incentive check when you agree to a 5 or 10 year placement of their equipment. It depends on how many units, what price setting you want, and how secure the location is. I have received as much as $1500 to cleanup/fixup a space to install their machines (or spend as I want), and still get the 50/50 split with no maintenance cost. Put a large sign on the wall with the phone number for the tenant's to call if any problem (they usually do not notice the sticker with the phone number on the coin slide box!)