Making improvements to your apartment complex can reduce turnover rates and increase occupancy levels. One area you should evaluate is what type of laundry services your community provides your tenants. If you currently have onsite shared laundry rooms, you could eliminate these in favor of in-home laundry by installing washer dryer combo units.
Why Should I Convert from Shared Laundry to In-Home Laundry?
Converting from shared laundry facilities to in-home laundry allows you to set higher monthly rental rates. You can charge anywhere from $40 to $100 or more for your units than you are currently asking. Most renters prefer having in-home laundry over using a shared laundry room, because they are able to do laundry at any time and do not have to wait for clothes to wash and dry. Communities that offer in-home laundry also experience higher lease renewal rates.
What Can I Do with my Existing Laundry Rooms?
Because your existing laundry rooms are valuable space, you could easily and affordably convert these into storage areas for your tenants. In addition to offering in-home laundry, you now have another perk available for existing and new tenants. You also earn more revenues by renting out the storage spaces for an extra monthly fee.
My Units Do Not Have Washer Dryer Hookups
Apartments without washer dryer hookups are not a problem with a washer dryer combo, because it uses ventless drying technologies and does not require a special dryer outlet or venting. Additionally, by having a portable conversion kit installed, the machine can be rolled right up to the kitchen sink and connected to the faucet. The appliance plugs into a standard 3-prong outlet and discharges wash water right down the sink drain.