washers in old multi-family apartment buildings

3 Reasons to Put Washers In Old Multi-Family Buildings

Washers are home appliances that wash clothes. They are generally machines that make use of water for laundry rather than dry cleaning or ultrasonic cleaning. Many old multi-family building owners are faced with the question “do I need to install a washers in old multi-family buildings?” while embarking on the upgrading or remodeling of their building. There are many advantages to installing washers in your multi-family building. In the course of this blog, we will give you good reasons to install these machines.

Here are 3 reasons why you have to install washers in your old multi-family building;

1. It adds value to put washers in old multi-family buildings

Installing washers in your old multi-family building will surely bring more prospective tenants to your listings on any apartment rental website. Most renters have washers as one of the most important apartment amenities to look out for in a building. Because they come with the benefits of reduced cost and time savings. Install a washer in your building as part of the remodeling program you are undertaking. After that, you will see your apartment value increase.

2. It provides convenience for your tenants

Installing a washer in your building gives your renters the benefits of convenience, which wouldn’t have been available without the washing machine. Laundromats or community laundry rooms are most of the time located at a far distance from apartment buildings. In addition, they always easily overcrowd with users. In-unit laundry means your renters do not travel long distances to get their laundry done. It’s worth investing in because of the time and stress it saves them.

3. Putting washers in old multi-family apartment buildings reduces your apartment turnover rates

The apartment turnover rate is the percentage of renters that move out of a property at the end of each contract period. Calculate it by dividing the number of tenants that move out in a 12 month period by the total number of tenants that you have in that 12 month period. Finally, take that and multiply it by 100. Installing a washer in your old multi-family building makes the renter feel comfortable and reduces the tendency of them wanting to move out. This reduces the apartment turnover rate leading to an increase in profit for the owner.