Using Laundry Equipment To Increase Apartment Complex Revenue

Posted on: 27 August 2015

Are you the owner or manager of a medium to large sized apartment complex? Are you looking to increase revenue, but you don't want to scare away tenants by raising their rent? Retrofitting an existing space to hold coin operated laundry equipment can help add more money to your bottom line. Here are some tips on how to maximize your potential profits:

Add laundry vending machines: While commonly seen in professional laundromats, vending machines that dispense packets of detergent, fabric softener and fabric sheets are often missing from apartment complex laundry areas. While some people will simply go back to their apartment once they realize they've forgotten these things, others may be unwilling to make the trek back or may have run out. Since they already have money for your coin operated laundry equipment, purchasing these necessary items from you will be extremely easy and convenient for your tenants. 

Have a change machine: Getting enough quarters to use your coin operated machines may be a hassle for some people. They may have limited mobility and not go out much, or they may have simply forgotten to get a roll of quarters when they were at the bank. With a change machine, your tenants can easily turn their bills into coins that they can use in your laundry equipment. To help deter thieves and vandals, have your change machine dispense tokens instead of quarters. Thieves will be less likely to smash open a change machine or coin operated laundry equipment that may contain only relatively worthless tokens than they would if your machines were full of actual money.

Provide an air drying location: Every time a tenant washes and dries an average load of laundry, your cost can be a dollar or more per load, depending on the fees for water and electricity or gas in your area. If your electricity or gas costs are especially high, you'll have to raise the cost of using your dryers in order to not lose money on every load. By providing an area for people to easily air dry their clothes, you will be more likely to attract your frugal tenants who might otherwise have done laundry in their sink or bathtub. Instead of forcing them to lug wet and heavy clothes from your washing machines back to their apartment when they don't want to use your dryers, your convenient clothes lines or drying racks will let them utilize your coin operated laundry equipment while still allowing them to perceive that they're actually saving money.

For more information, contact Metropolitan Laundry Machinery Sales Inc. or a similar company.

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