How To Increase Laundry Revenue

Laundry revenue can be an important part of a residential property’s overall profitability. Are you getting the most from your laundry facility? 

Vacancies

Several factors will affect your building’s vacancy rate, such as the cost of rent, the physical condition of the building and the building amenities. Fewer residents in the building means fewer residents doing laundry, not to mention vacant units aren’t pulling in any rent.

Building demographics

The demographic makeup of your building has a big impact on laundry room revenue. Families do much more laundry than seniors or singles. What resident mix does your building cater to? 

In-unit equipment

The use of your central laundry room will drop if residents have in-unit equipment. Not only will you lose laundry revenue, but they will also do up to 4 times more laundry, raising your utility bills.

Laundry pricing

How you price the wash and dry cycles of your laundry equipment can have a big impact on revenue, but it’s a delicate balance. It should be high enough to cover your costs but low enough to encourage usage. Charge too much and your residents may leave the building for more affordable laundromats; charge too little and you will leave money on the table and pay more in utilities. High prices can also lead to more in-unit equipment, residents overloading the machines, washing in their tubs or drying on their balconies. Check out our article “How much should I charge for laundry in my building?” for more tips.

Hours of operation

Providing hours that are flexible enough to accommodate all residents will yield more traffic while reducing congestion during peak periods. 

Safety

You can make the laundry room safer with bright lighting, a window in the door, security cameras, limiting hours of operation, and putting locks on the doors so the room is only accessible by residents. Key it alike with the entrance or use the same key fob for added convenience. 

Cleanliness

Would you want to do laundry in your facility? No one wants to clean their clothes in a dirty room. Regular cleaning of the room and equipment is essential for creating an environment people want to use.

Laundry room condition and amenities

The overall condition of the laundry room is just as important as how clean it is. First make sure the equipment is functioning, and your dryer vents are secure and clean for optimal safety and efficiency. Then move onto the aesthetics of the room: fresh paint, new flooring (or a professional cleaning), bright lighting, wall art, plants, comfortable seating, folding stations and hanging racks, shelving for books or games, a television, wi-fi access. The more comfortable and inviting the laundry facility, the more your residents will use it.

Equipment and service

Engage a professional laundry services provider, like River Rock, to install high quality equipment and ensure it’s serviced quickly when needed. Machine downtime means no revenue and unhappy residents who may take their laundry outside of the building. 

Our average service call close time is two days, with 59% being completed within one day. We also have a 4.2 Google Rating. 

Not sure where to start? We can provide a no-cost assessment of your laundry facility to help you increase revenue and resident satisfaction. 

Source: RiverRock Laundry