Investing in Multi-Housing Laundry

If you are a current owner or manager of an apartment or condominium complex, you may want to consider investing in a common area laundry facility. Not only is a multi-housing laundry facility a means of additional revenue, but it is an attractive amenity for your residents.

Fitting your buildings with commercial laundry machines can be a simple and lucrative addition to your multi-housing property. Additionally, the cost of installing laundry equipment in each individual housing unit far exceeds the cost savings when leasing commercial laundry equipment. In-unit washers and dryers can lead to flooding or wall damage and require more plumbing, venting and electrical wiring. 

Why Invest in Multi-Housing Laundry

Multi-housing properties have a consistent demand for laundry facilities. A laundry room investment creates a reliable source of revenue, which is also less vulnerable to economic fluctuations. There are some additional benefits business owners can enjoy: 

• Recession-resistant: People need clean clothing, even when there are economic downturns. This benefit makes multi-housing laundry a low-risk investment.
• Attractive to tenants: An on-site laundry room takes the pressure of finding a laundromat off tenants while offering them a more cost-effective solution.
• Privacy and security: Another benefit to tenants, which impacts your income streams in return.
• Low overheads: Ongoing expenses primarily come from maintenance, utilities and servicing the machines.
• Enhances property value: Access to on-site laundry facilities makes properties more appealing to tenants and investors. 
• Various payment methods: Modern machines offer coin operation and smart card-operated facilities, so users do not need to carry cash.

How to Get Started

Investing in the laundry business when you own or operate a multi-housing property can be as easy as just getting started. By following these steps, you can add laundry facilities to your building, enhancing its appeal to both current and prospective tenants while adding an extra income to your books:

• Assess the facility: Evaluate the space available, taking note of plumbing and electrical points alongside ventilation. Take measurements to determine how many laundry machines you can add to accommodate residents’ needs, providing adequate access to machines.
• Permits and regulations: Get familiar with local building codes and regulations that govern laundry facilities. Secure the permits you will need from local authorities before you start work.
• Equipment selection:  High-quality, commercial-grade washers and dryers should be able to withstand high laundry volumes while offering energy efficiency perks.
• Maintenance plan: Set up a preventative maintenance plan with your supplier to keep equipment in good working condition. Regular inspections can also help to minimize downtime.

Key Benefits of Commercial Laundry Machines

Industrial washing machines and dryers can handle up to eight loads of laundry daily, making these an investment with clear benefits. Operating at high capacities is just one of the perks you will enjoy when you lease commercial laundry machines.

Quick Operation

Commercial machines offer faster cycle times and their holding capacity means that users can do more laundry in a shorter amount of time. These machines can also hold much more than the standard 20 pounds of domestic appliances. The larger door openings also simplify the unloading process for users.

Energy and Water Conservation

Stock your facility with high-quality units manufactured by trusted brands. The Speed Queen, Maytag and Whirlpool machines come with Energy Star qualification—choosing these eco-friendly machines allows your facility to effectively conserve energy and water resources. Residents who utilize community laundry rooms save more energy than residents who use in-unit machines.

Attractive Amenity

A multi-housing laundry facility in your property serves as an attractive amenity to prospective residents. A well-designed laundry room can be a solid selling point to prospective residents. Laundry is a household necessity and many residents prefer the convenience of having a common area laundry facility in their building rather than commuting to a laundromat.

More Reliable

These appliances will run seven days a week, handling heavy loads at frequent intervals throughout the day. With more support from your supplier and robust machines that can meet your facility’s needs, steer clear of prolonged downtime.

Get Custom Commercial Laundry Solutions

Investing in commercial laundry facilities in multi-housing properties provides a reliable income that increases property value while providing low overheads, better recession resistance and lucrative revenue.

Caldwell & Gregory is the preferred choice for leasing commercial laundry equipment for multi-housing laundry facilities throughout Florida. We offer free, professional installation on all of our laundry machines and we love helping our clients improve the aesthetics of their laundry rooms. For more information on leasing or installation of Caldwell & Gregory’s commercial washers and dryers, contact a Caldwell & Gregory representative today.