Architects, Housing Developers, and people living in apartments,
I was thinking about apartments and rental space while I’ve been traveling and wanted to offer an insight regarding dishwashers and washer dryer combos. Many apartments in the US have dishwashers, but don’t have washer dryers and I think this needs to change. Below is a short financial description as to why a dishwasher should be swapped with a washer dryer combo.
A washer dryer combo is more expensive than a dishwasher; $1300 vs $350
The links may not work in the future — I just took the cheapest dishwasher and washer dryer combo from Best Buy.
Apartment buildings in the US have dedicated laundry rooms, which take up approximately 15x15 sq ft. If the landlord or property manager installs washer dryer combos in the rooms then the landlord will be able to rent the laundry room out, which will bring in additional income. Obviously, renovations will be needed for old buildings.
that is used by the tenants for laundry. That room is about 20x20 ft sq.
The rent you would receive would be $2k per month in SF..
In another location maybe you would receive $1k per month.
If an apartment building has 48 rooms (4 floor apartment building, 12 rooms per floor) then:
This means that in 24 months..2 years then you have paid off all laundry and dryer in sf
If another location then you would need 4 years to pay off everything
If the washer dryer has a lifetime of 5 years then you made money either way.
But if the washer dryer last 10 years then you really made money..
In the sf case you made an extra $2k per month for 8 years = $192K
In the other case you made an extra $1k per month for 6 years = $72k
The building management company likely receives money from the laundry company though — the agreement is typically a revenue share. How much revenue is passed to the management company? Maybe $50 per month per room?
If the laundry company passes only $50 per room per month then the management company can just charge $50 extra per room because people will be willing to pay more for their apartment since the room has a washer and dryer.
For those living in apartments without a washer and dryer. If you pay $50 a month for washing your clothes then you could install a washer and dryer combo for $1300. If you live in your apartment for longer than 2 years then you will have paid off the machine.
There are costs for electricity and costs for water, but on the other side of the argument, there are costs for convenience and time savings to not have to go to the laundry room and to have the ability to leave and/or forget your clothes are in the washer/dryer.
info at alive.ooo