When you take over the management of an apartment community, one of your first tasks should be to evaluate your occupancy rates and rate of turnover. If you discover many people are not renewing their leases, you have to determine the cause of this problem and take action to remedy the issue. One common reason for people not renewing their leases is due to the number of current onsite amenities offered. Any time there is a limited amount, and your tenants are able to find many more from a competitor, they often move to the new community.
For example, if you do not currently provide in-home laundry and only have onsite laundry rooms, this could be an issue. People do not like taking time out of their busy schedules to sit in a laundry room doing multiple loads all at once. Instead, they like the flexibility of being able to do laundry at home whenever they have a little free time. By adding washer and dryer sets to your apartment units, you are often able to attract new renters, as well as increase the number of lease renewals from your existing tenants.
Another benefit to adding washer and dryer sets in your units is the ability to increase your rental rates. Most people do not mind paying a bit more monthly to have the convenience to do laundry in their own homes. Installing new sets does not have to involve major construction costs. LG offers several different solutions, including stackable and combination models which have ventless drying systems.