Coinless laundry systems for multifamily- Good or bad?

[Laura Williams]

Does anyone have experience with owning these types washer/dryer machines that use the QR code/coinless and ease of use and reliability? If tenants like or hate? Specifically the GE Launderday APP and this model??https://www.homedepot.com/p/GE-4-2-cu-ft-White-Commercial-To...

Looking at option to purchase laundry machines for a multifamily building rather than leasing them through a company. Would love to hear investors thoughts if it's worth it to buy the laundry machines outright ...if you make enough profit to be worth the hassle?? verses leasing them from a company that handles the issues when they break down but keeps most of the profit??

[Gino Barbaro]

@Laura Williams

This has been the bane for us the past ew years. We work with Caldwell, and all the companies are difficult to work with. Are they being honest with collecting coins?

We have transitioned one of our properties just recently to us owning them and using cards. Just did it two months ago. If you have scale, then it may make sense. I would look at it as an amenity to the residents if the machines are new and easy to use. Our property was 128 units, with machines spread throughout, so it made sense

Following this thread to see what others say

Gino