Rental property owners are continually looking for ways to increase their profit margin and decrease their cost. During the winter months, property owners face higher utility charges and expenses for things like snow removal. Those added expenses make now the perfect time to make the switch to coin-operated laundry machines in the common area of your rental property.
Your tenants will be doing significantly more laundry during the winter thanks to snow, ice, salt, and additional layers being worn for warmth. The upfront cost of coin-operated laundry is the biggest reason property owners are hesitant to make the switch, but during the winter months, that influx in laundry needs will ensure the machines pay for themselves! As your tenants enjoy the convenience of new machines, your wallet will appreciate the lower energy bills that come with the new machines. Energy efficient coin-operated machines result in lower bills and higher profit, especially during the winter months. That extra cash will help balance out the expenses of your property while you simply sit back and let your tenants do their laundry! There’s no reason to let your tenants make a trip to the laundromat when you could be benefiting from them doing their laundry at home.
While you think about what to do with all of that extra revenue, it’s time to make the switch. Many coin-operated laundry machines can be purchased on a payment plan if you don’t have the resources to purchase the new machines outright. Remember, no rental property is too big or too small to benefit from coin-operated laundry machines. Even property owners with only 2 or 3 tenants will see a profit of at least $60 per month! Larger properties will, of course, see larger profits which means investing in even more coin-operated laundry machines for tenants to use.