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Updated over 12 years ago on . Most recent reply
lease the laundry room out for 40% profit from washer/dryer or purchase your own?
Hey guys,
we wanted to replace an old dryer in our 4-plex. Our options are:
1. PURCHASE a new Speed Queen gas dryer 870$(with the installation, delivery, etc) that we OWN and collect all of the profit. But there are upfront costs and also we take care of maintenance once issues come up
2. LEASE the laundry room for 5 years to Speed Queen, and collect 40% of the profit. They will install their own washer and dryer and will service them once it's broken down.
I am wondering what is more cost-efficient in the long-run.
My questions are:
a. how much money do you usually collect a year from running 1 machine?
b. how much is the maintenance of the machines per year?
thanks!!!