Forum
« House Pricing Strategy? Carpet Runners for Stairs »
October 19, 2007
ISO Coin Operated Washer/Dryer
I would like to install 2 washers and 2 dryers in our four family. Does anyone know where I can buy? Looking to compare both new and used... Thanks! Amy
Comments
Just as a point of reference, I live in a Brownstone co-op and we used to have coin operated laundry.
It ended up that those coin operated machines cost so much to upkeap that we found that it was cheaper in the end to just have free laundry in the building.
Something about those coin operated ones that were so unreliable.
Posted by: guest at October 19, 2007 12:05 PM
i have a 3 family townhouse and bought my coin-op washer and dryer at home depot. prices were reasonable (it was a while ago, but i'm pretty sure i didn't spend more than $500-600 each). however, GE, the manufacturer, doesn't provide an extended warranty on commercial appliances. luckily we haven't had any problems with ours in almost 4 years and the $$$ we collect really helps offset the additional utility costs (although depositing the coins at HSBC is a royal pain).
considering how much use they'll get, i'm not sure if a used machine is in your best interest.
good luck.
Posted by: benno at October 19, 2007 12:37 PM
Benno,
If you like, you can take your coins to Commerce Bank and they have a couple of free coin counting machines in all of their lobbies.
Posted by: aetienne at October 19, 2007 1:21 PM
Your tenants will think you are cheap. Just install a washer and dryer - if you need the money that much, charge a higher rent.
Posted by: guest at October 19, 2007 1:41 PM
Having free laundry is one of those perks that will make your rental stand out among the rest.
Such a great luxury to not have to worry about having quarters on hand.
A washer dryer...nice ones are like 1000 bucks. They'll last ya 5-7 years.
It's a good investment and you could certainly build that into the cost of the rent failry easily.
Don't mess with the coins. NYC is hard enough as it is.
Posted by: guest at October 19, 2007 3:07 PM
aetienne - does commerce actually let me cash the coins there or just count them? counting isn't the problem with HSBC, it is the fact i have to write my acct # on each and every roll...
original poster, my tenants appreciate having laundry in the building regardless of the fact that it is coin operated. our per-load charges are a lot cheaper than going to the laundromat, plus you don't have to sit there waiting for your clothes to finish. in our building each tenant pays for their own utilities and the common area utilities are attached to our account. the quarters are, for us, valuable in offsetting the increased utility charges. i like giving my tenants what i feel is a reasonable rent and don't feel badly about charging extra for the laundry. we also trust our tenants and have left out an exchange bowl so tenants can take quarters and leave us bills.
Posted by: benno at October 19, 2007 3:49 PM
Original poster here - thanks everyone for the responses! It is good to hear what others have done. Our building is a little interesting because we are in the process of "condo-ing" it and will be selling the top two floors and keeping the bottom two as rentals. I figured rather than get into a "they use more water than we do - they do 100 loads of laundry" fight we would just have the coin-ops and put the money directly to common charges. Has anyone else done this?
fyi: The Home Depot ones are ~$800 now...it looks like I can get new around $700 each somewhere and get all used for $500 total!) But if they look gross and work horribly of course that is not worth it.
Posted by: guest at October 19, 2007 6:05 PM
You don't even have to have an account at Commerce to exchange coins for bills. You pour the change in, you get a receipt, you go to the teller and get the cash.
Posted by: guest at October 19, 2007 8:16 PM
Benno,
We literally take our jar full of coins to Commerce and dump them in the coin counting machine and then a receipt pops out and you take it to the teller and you either have the option of depositing that amount into your account or you can cash it out. We have an account there but I am pretty sure that it is not necesary if you just want to cash it out and take it to your own bank. I'm not trying to get you to change banks but what I love about Commerce is that they are open 7 days a week and often until about 7 or 8 pm depending on where your local branch is. My husband and I both travel and work late so this is really ideal for both of us - not to mention that any check deposited by I think 3 or 4 pm is available the next day - we both are constantly depositing expense checks. It is so worth it to look into at least the cashing in of your coins - for the love of Christ, I would slit my wrists if I had to roll all of my coins versus taking them to Commerce and throwing them in the coin counter for 20 seconds. Good luck, Benno!!!
Posted by: aetienne at October 19, 2007 10:26 PM
Hi,
We ordered our coin-op washer / dryer online from Sears and have been happy with the operation. Very simple. They are basic machines (not digital) which is just fine so less can go wrong. Sears delivered them up to the 2nd floor. We have them on the landing of our 2-family so they can be used by all and so we have access for possible future servicing. They are more quiet than I expected.
Anyone that I asked said they would really appreciate being able to do laundry in the house and that the quarters are a minor inconvenience compared to having to go to a laundromat.
Here are the details:
Kenmore dryer, electric:
5.7 cu. ft. Coin Operated
Item #: 02664182000
$519.99
Kenmore washer, electric:
3.1 cu. ft. Coin Ope
Item #: 02627182000
$759.99
Posted by: das at October 20, 2007 1:53 AM
Thank you Das - that is very helpful! -and good luck to everyone with their coins :) -amy
Posted by: guest at October 20, 2007 10:13 PM
thanks this was a very helpful post. I'm thinking about offering a coin-op washer dryer for my tenants so I checked out the Sears site with the model numbers you provided. The prices are significantly higher (dryer is $649, washer is $949). Did you happen to get them on sale or get a contractor's discount or something? Also, could you tell me who you got to do the vent work? thanks again.
Posted by: guest at October 21, 2007 4:29 PM
Post a comment
Please be patient while your comment is published. It may take a moment.