At Speed Queen, we chat with a lot of property managers who are hesitant to add commercial laundry equipment to their rental property. A lot of times they’re concerned with the cost, additional maintenance and upkeep requirements, and whether it’s worth the investment. While we understand these concerns, we’ve also seen firsthand how on-site laundry services increase resident satisfaction and help property managers flourish. If you’re still on the fence about investing in laundry equipment for your apartment complex or condominiums, here are a few reasons you consider offering on-site laundry at your apartment building or condominium:
1. Customers want it
No one wants the hassle of lugging heavy laundry baskets to the laundromat. It’s so much more convenient to do it at home on your own time. According to the online apartment search platform Zumper, in-unit and on-site laundry are two of the top amenities that potential renters search for and want from a property. If you’re looking to attract qualified renters, offering laundry services in your building is a huge selling point — especially if the shared laundry area has all the features that renters are looking for.
2. Lower turnover
If it’s an amenity that tenants want, it stands to reason that offering on-site laundry will help increase satisfaction. Satisfied tenants are less likely to leave, which means you’ll have occupied units. Every time a renter moves out and the longer a unit sits empty, it costs time, energy, and money — so the more landlords and property managers can reduce turnover, the better.
3. Charge more for rent
What are other properties in the area charging for units with similar amenities? Chances are, the more amenities offered, the higher the rent price. Potential renters are generally willing to pay more for upgrades and perks, including laundry. Charging more for rent each month means you have increased profit and funds for upgrades and other building/property management expenses.
4. Create a sense of community.
Individual units mean tenants may not often interact. Since everyone needs to do laundry at some point, the community laundry area provides a space for residents to meet and interact. Putting names to faces and getting to know others who live in the building helps to foster a sense of community and makes your residential building seem more welcoming and homey, which may help increase resident happiness and reduce turnover.
5. Easy maintenance
If it’s the potential maintenance and upkeep that’s holding you back from adding a community laundry room, be sure you consider all your options. When you work with a quality and experienced laundry service provider, they’ll take care of maintaining the laundry equipment for you, so you don’t have to worry.
With decades of experience and the latest in laundry technology, let the global leaders in laundry at Speed Queen help you surpass your tenants’ expectations and take your property to the next level.
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