Upgrading to a smart laundry room isn’t just about looking more modern; it’s a strategic investment that can significantly impact tenant satisfaction, operational efficiency, and long-term cost savings. For property managers, the challenge lies in understanding whether the upfront cost for smart washer and dryer solutions is truly worth the return. In this blog post, we’ll break down the real costs and benefits, and the essential budget questions you should ask before modernizing your laundry facilities.

1. What is the Total Cost of Ownership (TCO)?

The National Apartment Association states that implementing modern solutions is one of the key ways to retain residents in the modern age, but that doesn’t mean you should upgrade without a plan. The sticker price of smart machines is only part of the picture. Consider:

  • Installation Fees: The process of integrating new smart machines into an existing operational environment often incurs significant installation fees. These can cover everything from physical setup and mounting to initial configuration and testing. Knowing how much you have to spend on these smart washer and dryer systems will assist you in either saving money or making it, depending on when you start renovations.
  • Network Upgrades (Wi-Fi or IoT Connectivity): Smart machines are inherently reliant on robust network infrastructure for data exchange and operational control. Implementing these machines may necessitate substantial network upgrades, such as enhancing Wi-Fi bandwidth. Ensure your machines come with Bluetooth connectivity if your Wi-Fi can be unreliable.
  • Replacement Cycles and Warranties: Smart machines, like all technological assets, have a finite lifespan. Understanding their typical replacement cycles is essential for long-term financial planning. Getting a handle on when to replace smart machines is important for your budget and keeping things running smoothly. This helps you dodge expensive old equipment and lost productivity. 

2. How Will a Smart Washer and Dryer Reduce Operational Costs?

Your bottom line is a big factor in switching over to newer technology. Though it may seem like a large change, upgrading to smart washer and dryer systems offers significant savings. Smart systems can cut costs by:

  • Smart Maintenance Alerts: Reducing the amount of time that your machines are down will increase your bottom line. Investing in a machine that provides you with a smart interface and real-time maintenance alerts will assist you in tackling problems before they escalate. Systems like LaundryConnect™ can assist. 
  • Eliminating energy concerns: Typically, smart systems come equipped with many energy-saving functions and settings. When you switch over to a smart washer and dryer system, the machines you select typically have an energy-saving function that you can toggle. The Department of Energy states that you use about 1000 kWh/month, which you can reduce by switching to green appliances. 
  • Allowing remote troubleshooting to reduce service visits: With technology like LaundryConnect™PAY, you have a good chance of reducing service calls before they happen. The app has easy troubleshooting features and immediate refunds. When your Wi-Fi is down, Bluetooth connection steps in to save the day.
    How Will Smart Systems Reduce Operational Costs?

3. Will It Increase Resident Satisfaction and Retention?

Modern people expect app-based convenience. Having a smart system in place provides many different benefits that will assist you and your residents. A smart washer and dryer system can:

  • Minimize laundry wait times: When you upgrade to a smart washer and dryer, you minimize the wait times between loads. With predictive maintenance, and less time for residents to use the coin or card tender, wait times to start a new cycle drop significantly. We recommend switching over to smart laundry systems in order to solve these pain points of inefficiency. The Multi Housing Depot also recommends these amenities in order to save you money from repair costs in the future, improving resident satisfaction. 
  • Provide real-time updates and receipts: Because of the efficient spin cycles and real-time availability of text alerts, your laundry room will run more efficiently, and residents will be able to do their laundry faster. LaundryConnect™ provides you with in-depth alerts that let you know when a cycle is up and a machine is free. Your residents will appreciate this change, as they won’t have to worry about standing around a machine waiting for it to open up or finish.  
  • Allow for digital payments: LaundryConnect™PAY provides residents easy access to funds within their accounts linked to the app. The app allows residents to quickly access their funds and reload their accounts with little trouble. Also, providing contactless payment not only works without a Bluetooth connection (in case of Wi-Fi troubles), but also prevents the spread of germs throughout your laundry room.

Conclusion

Overall, the benefits of smart laundry solutions depend on what you can provide to your business. If you’re willing to set aside a budget for an upgrade, you could potentially save big on energy costs and have residents happier than ever. If you decide to track these changes by using analytics or data, you could also find other ways to save. We hope these steps have provided you with a good starting point for any advancements you’re considering for your business. Contact Automatic Laundry today for more information on smart washer and dryer solutions for your property.