Best Laundry Options for Landlords in Multi-Family ?

[Rob Singh]

Hello,

I am acquiring a 6 unit multi-family property. My first one!! What is the most effective option for new landlords? Coin Laundry service? Owner Operated or 3rd party? I don't want to deal with on-going srevice issues or collecting cash weekly or monthly from premise. I would love any recommendations or companies you use..

[Pat L.]

We have a 6-unit & had the 20yr old $1/wash/dry machines that were rock solid. The coin boxes were no longer lockable & we couldn't raise the cost any higher, so we decided to raise everyone rent & supply a new set of (scratch & dent) appliances. Then the b*tching began, no-one seems happy with the free appliances, they started clashing with the available time esp since 3 of the couples are college students & are free most days & nights. The dryer was constantly overloaded & a $30 thermal switch finally failed resulting in a $150 service call/repair. Apart from the repair $$$ the raised rents definitely covered the cost of electric (I have a sub-meter on it & it now runs $22.95/month for electric with our $/KWH) & the water costs went down probably/maybe because of the more efficient washing machine???

I would definitely go ensuite, in fact we have added that to 2 of the units since & raised the rents for those units $100/month since. 

Some peace at last!!!