Landlords put a lot of goods into properties or their Austin apartments, but the ones that will cause them the most problems are the washing machines. Ovens rarely burn out and fridges remain cool, but washing machines come filled with plenty of moving parts, and people have often relied on them heavily for daily use. Unfortunately, they seem to break down the most often, so what do people do to keep them from breaking down as much?
What is the Best Washing Machine for Rental Property?
Given the problems with washing machines, what kind should landlords buy to make the most profit off coin operated laundry? Should they buy a cheap and cheerful washer or should they go with the superior-quality machine that has a proven track record.
Before deciding to buy any equipment, ensure that the dealer has the relevant certificates for selling the equipment. Go for the well-known brands like LG, Maytag or Electrolux. For example, Maytag offers a wide range of dryers and a reliable service. So, be sure to invest in the high-quality commercial washing and dryer machines.
First, we should explore the possibility that every washing and dryer machine gets made using the same parts. In many cases, the expensive ones only include a few more sophisticated features that aren’t necessary and a larger drum, which isn’t always ideal when you get paid for each load of clothing. In fact, Andy Trigg argues how buying the cheapest version from an established model usually makes the most sense. You simply buy it without all the bells and whistles.
It’s important to look at the duty cycles or the set number of washes because this shows you how long your washing machine will last before you need to repair it. Let’s take the example of an average use of a single wash per day at an 8,000 duty cycle washing machine. This has been designed so that it will run for around 22 years before you can expect serious problems. However, some of the cheaper washing machines might only last for 800 duty cycles, which is an average of two years. Meanwhile, the price tag will usually match this directly.
Price It Carefully
How much do laundromats cost will have a big impact on the amount of business you receive. If the dryer and washing machine cost too much, you will most likely waste your money because tenants will go to a laundromat with cheaper services. Instead stay close to the prices of the local laundromat or a little below it to ensure that your tenants will continue to put coins in the machines.
In this way, you will earn a type of passive income for the service and keep making money from it.
Prepare for the Repairs
While the brands like LG may not need an extensive amount of repair because it uses quality products, not all of them will be like this. Even the range of Maytag dryers will occasionally require repairs. You should prepare and have a repair professional ready in the event that the machine breaks down. In addition, you may want to occasionally perform maintenance once per year to catch expensive problems before they can arise, and it stops you from having a headache.
Maybe Used Will Work
You don’t always have to go with a new appliance because a lot of people may have only gently used their washer or dryer. You can find a coin operated washing machine for sale at a much cheaper price this way, and you can save a lot on the initial cost. Meanwhile, it still gives tenants the opportunity to wash their clothes at a closer location. However, you should test the washer and dryer before you buy them to make sure they work.
As the landlord, you will often have a responsibility for the utility costs of the dryer and washer. However, to keep the costs low, you might choose one of the more energy efficient appliances because it will use less water and energy when washing clothes.
Caroline is a writer with years of experience in business administration. She enjoys meeting new people and reading more books to get inspired for her own book. Her twitter, @BCarolinebird12.
