"Some vendors will agree to have someone come every day, especially in larger buildings. "One of the other things we push hard for is service," says Robinson. "Now that there are smart card machines and the process is much more digital, we typically put in a provision that vendors have to put in a report to the management every time they collect from machines, so it's clear how much money is coming through," says Robinson.ĥ) Specify how often maintenance will be performed "The vendor's insurance should name the building, the owner, the agents of the buildings and the employees, officers and directors as additional insureds under the vendor’s policy," advises Greenspun.Ĥ) State how often you want to see profit reports "If it's not in the contract, then there's nothing precluding from using refurbished or used machines," says Greenspun.ģ) Make sure the vendor has the right insurance Otherwise, you may find yourself stuck with a vendor you're not happy with even after the current contract expires. In the past, in their contracts, laundry vendors tended to have automatic renewal rights and right of first refusal, meaning that they could match any other offer if a vendor gave a better deal to a building."T hat issue has become more negotiable these days, and it's something you want to keep out of your contract if possible," says real estate attorney Karol S. Of course, the cost of upgrades like this do get passed on to the building one way or another. More personalized laundry rooms are becoming more common, says Breitman, and "we can do artist murals and subway tiles and we can go with certain themes." We find sometimes that the smaller jobs have a higher load factor," meaning that more people use the machines more often.Īnd don't think the place has to look like a dungeon. In fact, laundry vendors are just as happy installing a laundry unit in a big building as they are in a small one, Eisler says. In short, he adds, "if you have about 28 square inches of floor space, utilities, a drain and a good place to vent, you're good to go." In new construction, I've seen them by the roof deck. Alternatively, where space is an issue there could be even a small closet on every floor with a washer/dryer combo in it," he says. "A laundry is generally in a common area in the basement. It's not hard to find the room for a laundry facility, says Seth Breitman of SEBCO. Property manager Michael Wolfe of Midbo ro Management says that in his experience, laundry rooms aren't major moneymakers, because the cost of electricity, gas, water, and so on cut into the profits. I n a 40-unit building, using the same approximations, total monthly collections could be somewhere around $700 a month, with around $400 going to the building. Of that, the building would get about $2,000 a month. If you assume that each month, each apartment is responsible for about 10 loads of laundry (washing and drying included), total monthly collections for a 200-unit building could reach around $3,500. "Some buildings see their laundry rooms as opportunities for revenue, almost like a piggy bank, and others see it just as an added tool to bring people into the building," says Mark Eisler of Hercules. Likewise, the amount a building charges per wash or dry often depends on building demographics, but can range from 75 cents to $3 a wash, though many hover around $1.75 in the city. Presented by Can my building make money on this?Įxactly how much a building can bring in varies widely, since some have lots of apartments with in-unit machines, while others have residents who do a lot of laundry in communal rooms.
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