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Oh by the way......coin laundry

December 21st, 2006 at 08:16 am

As a property manager that has to collect coins from over 1000 rental units, I am here to tell you I think there's money in it. I know there is. A coin laundry machine is about $1000 and maintenance is about $200 per year. Each wash and dry is $1.75 each. Just on one machine alone I collect about $250-$500 for the owner per month.....something to think about.....water isn't that expensive. There are companies who put the machines in themselves then collect the coins every month and split them 50/50 with the owners. Why am I not doing this? Why aren't we all???Smile

Posted in I have ALMOST won the lottery | 2 Comments »

2 Responses to “Oh by the way......coin laundry”

  1. threebeansalad Says:
    December 21st, 2006 at 01:14 pm 1166706860
    1166706860

    As someone who used coin laundry until recently, I'll also vouch that there's money it :-) Lots of MY money :-) At the last complex I lived, the machines took a swipe card that you could put $20 on. I'm not sure how profitable that was for the management company, for the for the machine users it was great not to have to scrounge for quarters. I also think I was probably tempted to do more loads, drive for a longer period of time (you bought drier time by 20 min increments) on the card since I knew I had the money handy. Not frugal, but probably true :-)

  2. LdyFaile Says:
    December 21st, 2006 at 09:30 pm 1166736654
    1166736654

    I love love LOVE my apartment's coin op laundry prices. I mean, if I have to pay I'm glad it's not much. It's $0.35 to wash and $0.25 to dry. The machines are smaller so we do slightly smaller loads and sometimes it takes two passes to dry. We were warned when we moved in to be careful with the machines because once they die they can't be replaced with the same prices.

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