Buy or Rent Washers and Dryers?
For landlords and property managers, the demands from tenants for better amenities, services, comfort and security are on the rise. Meeting tenant wants is good for business.
Landlord’s technical and operational challenges including washers/dryers and other rental appliances are being solved via a high tech, new business model approach. It’s where maintenance operations get outsourced and create an additional source of revenue.
The proliferation of hardware, apps, and other high tech solutions in residential property management shows many landlords are modernizing to keep tenants as happy as possible. And they’re discovering ways to earn revenue from a former cost.
A Good Way to Keep Tenants Happy
The challenge of helping tenants live better, cost effectively is making property managers look for help. Tenants need to wash and dry clothes many times per week, and they want to wash/dry their clothes when they please.
In many buildings, renters have specific time slots where they may use the washers and dryers, which may not be in good condition, and the inconvenience of that makes these tenants what to move. Laundry can take a lot of their time away, especially if the machines break down. Tenant patience with laundry problems is an issue.
Tenant turnover and renter disappointment isn’t good for ROI. Renting washers and dryers (and perhaps other rental appliances) might be the multifamily solution for you in 2020.
The solution renters want is for you to buy washers and dryers for installation in their units. The fact that stackable washer and dryers take up so little space, renters will be suspicious about any space excuses. Getting water/gas/electricity connections is an issue.
Should You Buy or Rent These Appliances?
You could buy or rent washers and dryers and other rental appliances. If that’s possible to buy and install, you have to figure out how you can afford it (multifamily) and how you can recoup your investment.
If you lack the funds to buy a large number of washers and dryers, you could rent them. In fact, appliance rental firms such as WASH, deliver the appliances and they service them. That could take the whole problem out of your hands, and keep your tenants happy.
Consider how tenants respond to videos such as this one:
WASH Laundry Solutions
Today’s Millennial renters will like WASH’s solutions. Wash is a nationwide laundry service which installs machines, services them, handles tenant issues, and charges them directly via mobile apps for usage. They provide the equipment and service, and, they offer you a revenue sharing option. They even maintain the cleanliness and appearance of the laundry areas.
By all accounts, this is an excellent value proposition for landlords and property management companies. Outsourcing the management of laundry, and washing machine and dryer maintenance helps keep your firm’s workload manageable.
WASH serves multifamily buildings, student housing complexes, apartment buildings, and commercial operations. They give you the option of owning the equipment while they supply service and parts.
WASH’s mobile pay app and FIXLAUNDRY mobile maintenance apps are some of the most innovative new property management apps, and are a great way to make maintenance much easier. Tenants themselves make the reports and pay for washer/dryer use, all with no effort from the landlord or property management company. And not needing to use quarters is a big point of convenience for tenants.
The laundry app and service works well with your own cloud property management solution.
FIXLAUNDRY’s mobile app, is available for iPhone, Windows and Android phones, and a specially formatted mobile site, www.fixlaundry.com, and requesting repairs can be done immediately online right from your smartphone or tablet.
Tenants Value Modern Appliances
You could buy the appliances, or rent them via firms such as WASH. Your tenants will get the latest in washing machine technology too using top brands such as Speed Queen, Maytag and Whirlpool commercial washers and dryers. These are machines clean clothes with less damage done to fabrics, than the old era machines you might still be using now.
Not only does WASH’s system offer a revenue sharing benefit, the presence of the system will enhance the value of your rental apartments to renters.
Of course, you must get a quote on the installation from them, but in many cases they’ll be able to handle the plumbing and venting issues. They can inform you about gas connections and electrical requirements and about their service coverage areas.
If you’re looking for ways to decrease your work, grow revenue and asset value, speaking with WASH is likely going to be time well spent. The net effect on your owner reports should be positive.
Be sure to take the ManageCasa Property Management Solution for a Test Drive!
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