coin-op laundry in student housing

[RCrein]

Hoping to hear from landlords out there with student housing on viability of coin-op laundry equipment. The property has a standard washer and dryer for twelve rooms. I can`t see the point of offering them at no charge for fear of abuse of utilities. Don`t need people inviting their friends for laundry parties

My university age daughter didn`t pay for many loads of laundry while away at schoool. She bundled it up and brought it home to wash for free (for her

). So do you have good use of your coin-op laundry equip. Numbers please. Number of rooms, approx loads per month, price?

I doubt that I can add coin-op to these machines. Anyone care to offer a budget number for a coin-op washer and dryer(gas/electric)?

Thanks for your help.

 

[PropertySolution]

QUOTE (RCrein @ May 13 2010, 09:22 PM) Hoping to hear from landlords out there with student housing on viability of coin-op laundry equipment. The property has a standard washer and dryer for twelve rooms. I can`t see the point of offering them at no charge for fear of abuse of utilities. Don`t need people inviting their friends for laundry parties

My university age daughter didn`t pay for many loads of laundry while away at schoool. She bundled it up and brought it home to wash for free (for her

). So do you have good use of your coin-op laundry equip. Numbers please. Number of rooms, approx loads per month, price?

I doubt that I can add coin-op to these machines. Anyone care to offer a budget number for a coin-op washer and dryer(gas/electric)?

Thanks for your help.


I either over looked it or you don`t say where you are but have you tried a service like Coin-A-Matic? They have both coin and Smartcard operating options. It takes most head aches from you and the Smartcard stops potential thieves looking to break in for the coins.

 

[Berubeland]

I have paid $800 for a used set of coin op machines at High Park Appliance in Toronto. Was a few years ago.

 

[fumbrunner]

QUOTE (Berubeland @ May 14 2010, 06:10 AM) I have paid $800 for a used set of coin op machines at High Park Appliance in Toronto. Was a few years ago.


Ditto. You can fetch a washer and dryer from $800-$1000. You make that back in no time, especially with 12 units.

 

[housingrental]

Cost for lower end commercial model with good coin slot closer to $1800 in my experience for a set of washer and dryer.
Up from there for heavy duty ones.
Rentals might also work for you.

As for use what you`ve mentioned is common in student tenants taking laundry home.
My experience has been use tends to be lower than non student properties for coin-operated common area laundry`s - closer to 2-3 loads per tenant per month on average.
Another issue lowering laundry revenue is that many rent for 12 month but live at their parents house during 4 months of the year. They might come to the rental unit regularly but those tenants don`t do laundry there if so.