Efficient Multifamily Laundry Systems Increase Property Value and ROI
When you’re in charge of a multifamily housing complex, there’s an endless list of duties—and keeping your laundry facility up to date and running efficiently should be a top priority. That’s because well-equipped multifamily laundry systems can reduce overall operational costs, boost tenant satisfaction, increase property value, and maximize your return on investment. Let’s break down some of the benefits of making this key investment and discover key insights towards picking out and having a maintenance plan for multi-housing laundry for your property’s needs.
Multifamily Laundry Systems: A Key Investment for Property Value and ROI
Laundry might not be the first thing that comes to mind when strategizing how to increase property value, but it’s a profitable investment with the potential to pay back dividends. First, let’s outline all the ways not having the best laundry equipment for properties can eat into profits:
- Expensive Maintenance Costs: Not only do outdated machines break down more often, requiring expensive servicing from specialized maintenance teams, but as modern machines improve, older units become obsolete, and so do their replacement parts. That makes finding the right materials for repairs a costly endeavor.
- Bigger Utility Bills: Older machines are less energy-efficient than newer models, so your outdated system costs more monthly than an updated one would. Your current machines’ drawing more from the utility grid could be why your monthly electricity and water bills are so high for the building.
- Higher Tenant Retention Costs: Damaged laundry from ill-performing units or frequent downtime to fix issues that throw wrenches in tenants’ schedules can harm the value of your complex. When it comes time to renew a lease, people are less likely to stay at a place that can’t efficiently meet one of the most universal basic needs in housing. This frequent turnover leaves leasing offices on a constant wheel, trying to fill empty units. This distracts team members from getting to other essential duties or can necessitate a bigger marketing budget to find residents.
From this perspective, an upgraded multifamily laundry system is an instantly profitable investment that raises property values and maximizes ROI by dramatically reducing existing costs.
The Benefits of Investing in High-Quality Multifamily Laundry Systems
Updating the laundry facility in your multifamily housing complex is a proven method for increasing property value and maximizing ROI. This strategy offers many benefits of multifamily laundry machines, including:
- Lower Operational Costs: New machines tend to be far more environmentally friendly, which means energy-efficient. These units utilize less water and electricity per load, decreasing the utility grid draw and lowering your bill.
- Reduced Maintenance Budget: Machines that frequently break down cost property managers a lot in maintenance fees, and these costs frequently come without warning. New laundry systems are less likely to break down and often come with manufacturer warranties or service plans to keep them running efficiently.
- Improved Tenant Satisfaction: Upgrading your multifamily laundry system is a great way to keep your tenants happy and inspire them to continue leasing with your housing complex for years. Fresh laundry rooms not only make the entire building feel newer, but energy-efficient machines tend to have faster cycles than older models, which helps residents get their laundry cleaned in a shorter period. Happy tenants renew their leases and brag about their living conditions to friends who may become new residents of your property in the future!
- Increased Property Value: Adding new, high-tech laundry machines to your multifamily housing complex instantly increases the entire property’s value. Having highly sought-after, new, and clean amenities means the potential for higher rent prices. Additionally, well-maintained laundry rooms can fetch a higher asking price when it comes time to sell the property in the future.
- Additional Revenue: Everyone needs to clean their clothes eventually, so why not make a little extra money doing it? Property managers can generate more income from their laundry rooms by installing pay-per-use units, offsetting utility costs, and maximizing ROI.
- Streamlined Payment Options: If your laundry facility already generates revenue, it might be worth upgrading to streamline your payment options. Coin-operated machines require regular money collection and maintaining enough change for the machine that converts paper currency to quarters. Property managers can instantly collect their money by switching to digital payment options, like card readers or app-operated units.
Choosing the Right Multifamily Laundry System: Types and Key Considerations
Deciding to update (or install) your laundry facility at your property is the first step towards maximized ROI. The next move, of course, is determining the specific needs of your complex. Each property will have different priorities, and choosing the right machines for your residents takes some careful consideration. Focus on the following key points when shopping:
- Top Load or Front Load: The type of laundry machine you choose will depend on many factors, including how much space is available, how energy-efficient you’d like your new units to be, and the preferences of your tenants. Generally speaking, front-load washers usually use less water and electricity to operate, but top-load machines are widely preferred due to their ease of use and large load capacity.
- Payment System: What kind of payment system would be most appreciated? Coin-operated machines are not popular among tenants since most people don’t carry cash (let alone change) these days. Card readers are very convenient, and app-based systems are even more popular, letting residents operate the machines from their phones. With app controls, your tenants can change dryer temperatures or add more time to their cycle without getting off their couches.
- Load Size: How many residents will use these machines, and what are their typical load sizes? Large-capacity laundry machines are highly preferred for buildings with multi-bedroom units large enough to house families with many members. However, smaller apartment complexes can get away with machines boasting smaller load sizes.
- Service Plans: Looking for laundry systems for multifamily properties with included maintenance plans is a great way to bake the cost for servicing directly into the budget upfront, saving money long-term. When you’re getting regular visits from qualified service professionals, your machines tend to last longer, and those unexpected expenses that come with unplanned repairs get smaller and smaller.
- Brand Name: There’s a reason you know names like Maytag and Whirlpool. These industry-leading brands are known for their top-quality machines, and buying from a recognizable company increases the number of skilled technicians who know how to work on your particular unit. Don’t buy an appliance as expensive as this from a company with little authority in the laundry world.
Reliable Equipment and Expert Service for Long-Term Multifamily Laundry Success
When you’re ready to upgrade or set up your laundry facility, selecting a provider with experience and professionalism is important. At Commercial Laundries, we have decades of expertise in offering commercial laundry solutions tailored to the needs of property managers and supervisors across the state of Florida.
Whether you need help determining the right units for your needs, expert installation, or ongoing service plans, our highly trained team members will guide you through building or updating your laundry facilities and ensure you understand all your options, such as leasing programs!
At Commercial Laundries, we’re here for you for the long haul. With ongoing maintenance plans, you can rest assured that those commercial laundry machines you invested in will run smoothly for years. Partner with us to ensure a seamless laundry experience for you and your residents.
Get Top-Quality Multifamily Laundry Systems From Commercial Laundries
Investing in high-quality multifamily laundry systems is a strategic decision that enhances property value, reduces operational costs, and maximizes ROI. Upgrading to modern, efficient machines with advanced payment options ensures long-term success for property owners and managers (plus, keeps tenants happy).
Commercial Laundries offers expert commercial laundry solutions tailored to your property’s needs if you want to upgrade or install a new laundry system. Call 305-889-7966 to learn how our industry-leading equipment and services can benefit your multifamily property.
