Just for Property Managers, Rob's Tips
The single most important interior amenity in an apartment is a washer and dryer or washer/dryer hookups. Data pulled from searches on ApartmentGuide.com over the last six months and other third party sources have consistently resulted in the same conclusion. With this knowledge an owner of a rental property with no laundry connections should investigate the feasibility of adding them.
In smaller apartment buildings sometimes a basement can provide the needed space at a moderate amount of expense. Without the luxury of basement space, many times other options still exist within the confines of the apartment unit itself but usually at higher cost.
Stackable washer/dryers are better than providing no hookups but installing hook-ups for standard size machines is more desirable. Also, with stackable unit hook-ups the owner is expected to provide the actual machines. Be aware that they generally are more expensive to purchase initially and to later replace than a standard size washer and dryer. Many apartment management companies also offer laundry service in the cost of the monthly rent.
If remodeling is already in the plans, always consider adding this most sought-after feature since it ranks even higher as an amenity to renters than a remodeled kitchen or bathrooms.
When looking to increase rental rates and/or reduce vacancy time in a soft market, pay attention to what renters’ say they want. “It’s in the laundry!”