It’s a common myth that owning your own laundry equipment is much more profitable than using a vendor. Lets look at all the reasons why you should choose a professional vendor like Washtek to handle your laundry room.
1. Economies of scale: Laundry vendors specialize in one task, making laundry rooms profitable. When you specialize in certain tasks, you can do those tasks more quickly and inexpensively. Washtek has specialized staff, equipment and expensive technology. We receive discounts on purchasing machines, parts and labor that a single, multi-housing property does not.
2. Your time is valuable: First you must research what equipment to buy, then you must be present for delivery/installation of the equipment. You must collect, count and deposit the money. You must deal with resident problems, repairs, refunds and complaints. With Washtek, we handle all of this and more, allowing you to focus on your real estate, while we focus on the laundry room.
3. New machines for free: Washtek will deliver and install new, energy efficient machines as well as remove your old, worn out machines.
4. Revenue sharing plans: Washtek will share a percentage of the gross laundry revenue with you without any effort on your part.
5. Many costly repairs are not under warranty: Most warrantees are limited to parts, and don’t cover labor, coin boxes or coin slides. You must pay out-of-pocket for coin slide jams, stuck money boxes, off-balance machines, etc.
6. Free on call service technician: When you own the machines, you must pay to fix them. Service calls average $150-$200 per repair, including diagnosis, parts and labor. With Washtek, we include repair, parts and maintenance free of charge.
7. Liability Insurance: When you oustsource with Washtek we will provide $1,000,000 worth of liability insurance, saving you money and headaches if a problem arises out of the use of the laundry room.
8. Collection risks: When you own your machines, you must collect the coins, or hope the person you hire to do so is honest and trustworthy. Also, is your apartment building in a “high-risk” neighborhood? You may not want to carry around bags of quarters making yourself a robbery target. With Washtek, all of our machines have non-resetable counters on them, and each month you will receive a detailed report listing the prior months readings and the current readings for accountability. All of our trucks have locked storage boxes to transport the quarters back to our headquarters keeping your money safe from theft.
In summary, hiring an oustside vendor like Washtek to run your laundry room will save you TIME, MONEY, and HEADACHES! Washtek will ensure that your laundry room income remains steady, and your tenants are happy.
Vend Pricing-what price do you charge your residents to do their laundry? One of the biggest mistakes we see is when an owner of a property is over-charging their residents for the use of their on-site laundry equipment. There is a fine line when determining what to charge your residents. Most owners beleive that the more they charge the more revenue they will generate. It’s almost always the opposite as residents will go to a local laundry mat or to their parents/relatives home to do their laundry if they feel they are being over-charged by their landlords. Washtek has always been very pro-active in researching market rates all over San Diego County. We know what local laundry mats and apartments are charging in any given neighborhood at all times. Washtek trys to educate both owners and property managers to view their laundry room as an “extra ammentity” or “service” they are providing to their residents, and use resonable vend pricing to encourage their residents to stay on property to do their laundry. This can contribute to higher monthly rents for the apartment units themselves vs. trying to get an extra quarter or two out of the washers and dryers! Just another reason to outsource your laundry room to a professional vendor like Washtek.