We have all heard the prospective tenant call and ask if there is a washer/dryer in the apartment and if not, are there laundry facilities on site. If you answer no to both questions there is a good chance you are losing good prospective tenants. Why not consider giving them something they want while improving your cash flow at the same time.

One of the main benefits of installing a washer/dryer (in addition to the money they generate) is it will make you more competitive in attracting new tenants and keeping the existing ones happy. If tenants are happy, they stay longer which means lower vacancy rates and a better cash flow. It also improves the marketability of the property at sale time because the laundry income is added to the rental income which increases the value of the property. Continue reading →