If you’re the owner of an apartment building or multi-housing facility, you know how important it is to have your commercial laundry equipment in working order. Unfortunately, repairs are necessary from time to time, and it can be difficult to determine if you should repair your equipment or replace it altogether. In this blog, we’re discussing when to consider buying new laundry equipment for your building. There are some key signs that it’s time to upgrade your commercial laundry equipment and five important considerations below.
1. Age of Existing Equipment
The average lifespan of commercial laundry equipment is 10-15 years. If your existing equipment is old and outdated or if it is no longer efficient or reliable, it may be time to replace it. Tenants want amenities that are new and modern, which makes an apartment building feel clean and professional. If your washers and dryers look outdated and aren’t as efficient as newer models, you could end up with dissatisfied tenants who look elsewhere to live.
2. Frequency of Repairs
Downtime should be avoided—it means lost profits for you and a negative experience for your tenants. If you find yourself frequently having downtime because you’re constantly repairing your existing equipment, it may be more cost-effective to replace it rather than continuing to invest in maintenance. While it may seem that brand-new equipment is the more expensive option, think about the overall cost. Less downtime, more efficient equipment, and happier tenants mean more profits for you.
3. Increase in Demand
Is the number of people using your laundry facilities increasing? While it may be overwhelming at first, this is a good problem to have because it means you’re growing and increasing profits. Buying new, larger laundry equipment is an easy solution to this problem. To have a successful laundromat business, you need to invest in modern equipment that will meet your consumers’ needs. Otherwise, they’ll get frustrated with unavailable equipment and find another laundromat. If small space is a concern, there are many equipment options, including stacked washer-dryer combos.
4. Upgrade in Technology
While many commercial laundry equipment providers still offer coin-operated machines, there are newer technologies that offer consumers more convenient payment options, including card-operated and mobile-pay machines. Making it easier for tenants to pay you will increase your profits and offering modern technology will attract and retain tenants. If your existing equipment doesn’t have these features, it may be time for an upgrade.
5. Profitability
If your laundry facility is generating significant revenue, it may be a great time to invest in newer equipment to further increase your profitability and efficiency. New laundry equipment means better washing and drying capabilities, more energy efficiency, the newest technology, and satisfied consumers—all of which result in increased profits for you.
If you’re considering buying new laundry equipment for your apartment building or multi-housing facility, Lakeside Laundry Equipment can help. We’ll work with you to determine if replacing or repairing your equipment is the better option. We offer machines from leading name-brand manufacturers like Whirlpool and Maytag and have experienced technicians who respond within 48 hours to maintain and fix equipment. Contact us today to get started.
