5 Ways to Turn your Building Laundry Room Into an Amenity and Profit Center
The laundry room of an apartment building is a key feature of the property. Maintain the space and equipment well, and tenants are more likely to be satisfied not just with the amenity but with the property overall.
Likewise, prospective tenants always ask to see the laundry room when they’re shopping for a new place to live. So it should show well — it makes a difference!
How do you turn your laundry room into an amenity and maximize its potential as a profit center? Here are five ways to achieve the goal:
Make sure the equipment is always in service
If your equipment is frequently out of order, you’re losing money and disappointing your tenants. With today’s technology, there’s no excuse not to know when equipment is down. You can monitor it remotely and call for service without delay. If your service team isn’t proficient and reliable, that’s another issue. Same if the equipment itself needs replacing. It may be time for modern commercial-grade equipment.
Make sure there’s enough equipment so tenants don’t have to wait
The standard rule is one washer and dryer for every 10 units — more if the units are larger and home to more people. If you don’t have enough equipment, tenants will complain. Plus, you lose out on the opportunity to fully monetize the amenity if demand goes unmet.
You can do even more: Add a larger capacity washer and dryer to the space if there’s room, so the equipment will accommodate larger loads, including pillows and bedding. Your tenants will be impressed … they’ll be able to clean more items on-site versus going out to a laundromat … and you’ll be able to monetize the premium equipment.
Use an online app with the equipment so tenants can monitor the machines during use
New technology also allows your tenants to monitor their laundry in real-time, so they know when a cycle is done and can get right back to the laundry room to move their clothes. Talk about efficiency! Your tenants will love it.
To this end, install large, easy to read instructional signage on how to download the laundry app you choose and how to use it. You’ll benefit from increased adoption by tenants.
Make sure the equipment takes digital forms of payment — not just coins
There’s nothing more frustrating than not having the proper change to do laundry. Plus, there’s a coin shortage now given the pandemic, so change is harder to come by. Solve the problem by providing commercial-grade equipment that takes various forms of mobile payments, including credit and debit. The result: less-stressed tenants and fewer coin-based issues.
Make sure the laundry room is clean and modern
This is straightforward enough. Tenants should not feel like the laundry room is a dungeon — even if it’s in the basement! A clean, well-lit room with newer, well-maintained equipment attracts loyal users who don’t mind paying a little extra for convenience, comfort and safety.
If you really want to impress, add wi-fi to the space, maybe some low-level music, a security camera, and make sure the room is nicely ventilated.
We can help turn your apartment building’s laundry room into an amenity that optimizes the profit potential. For a free consultation, call or click today. There’s no obligation by calling. We’re happy to come visit.