Laundry Room

[Mark Vieira]

I recently bought a 14 unit garden apartment value add deal and currently am trying to get the laundry room situation dialed in. The current laundry room is small and can only accommodate (1) washer and (1) dryer. A couple of the units have plumbing for washer and dryers but I plan on safing all of that off as I go and remodel each unit. I pay for the water so it doesn't make sense for me to let them do that in unit anymore.

I have a proposal from WASH to install the units, maintain them, and then give me a check for 50% of the gross every month.

- Is this a good deal for me and comparable to what other companies could offer me? I am self managing from 2 hours away so I do need someone that can handle the laundry and collect the money as opposed to doing it myself.

- Has anyone had experiences with WASH and can share how it was?

- Any other tips, tricks, or pitfalls as I gear up to sign a lease with these guys? It's either a 3 or a 5 year lease term...