Mitigating Laundry Machine Risk: Some Alternatives

[Kevin Piccolo]

Hello Everyone:

I would like the convenience of providing laundry in the building; however, would not like to participate in the upside or downside of owning or leasing.  As such, I am in the process of reaching out to laundry service companies to seek a contract whereby the company would be 100% responsible for the utilities (electric and gas), while receiving 100% of the laundry revenue.  I would only need 8 dryers and 8 washers between the 37 units.  I would however, have the upside of increase my rent a little higher.  

The other alternative I thought was to own the units, but go off the grid by installing enough solar panels (perhaps with battery backup for storage) to supply electricity to 240v dryers and washing machines.  At least that investment may yield future return once I hit the payback from initial investment.

Any thoughts on the matter?

Kevin