laundry mat - Posted by Jerry

Posted by Ronald * Starr on June 29, 2001 at 15:24:06:

Chuck (AZ)----------------

You might want to read Jack Reed’s material on the topic of commercial laundry equipment concessions. His figures make it look like you would be far better off to own the machines and collect the usage yourself. His analysis relates to apartment properties. But I suspect there is little difference between apartments and mobile home parks on this matter.

You might find his analysis in his book on managing rental properities (web site johntreed.com). He might also have had an article in his newsletter. He has an index on his website so you look up the topic and find the issue in which the article appeared. Then you can order that article from him.

Good Investing*******Ron Starr**************

laundry mat - Posted by Jerry

Posted by Jerry on June 29, 2001 at 07:05:02:

I am looking at a small park that has a laundramat room with 2 washers and 2 dryers. This seems like a pain to have. Make a small amount, but have to keep clean, maintain, risk of theft, return money when not working, ect.
I would like to have a discussion on this with people that have had experiences with this.
Thanks, Jerry

Re: laundry mat - Posted by John SirJohnathon Grounds

Posted by John SirJohnathon Grounds on June 29, 2001 at 16:02:59:

Jerry,

I kind of take a middle of the road approach here. We have a large complex with around 10 each of w&d. We have a commercial company that supplies us with the units, and we split the profits. Our electricity and space…their units. Tends to be a decent deal and we don’t worry about maintenance.

Check around and see what you come up with.

Let me know if I can help,

John “SirJohnathon” Grounds
www.jrgholdings.com

Re: laundry mat - Posted by Chuck (AZ)

Posted by Chuck (AZ) on June 29, 2001 at 08:46:31:

I have a laundry room in my 55+ park… 4 washers and 4 dryers.

The equipment is owned and maintained by a commercial equipment supplier. They come around once a month and collect the money (under our supervision - the park gets a cut of course) and deal with all the worries.

For our end of it, all we do is provide the space, water and electrical connections (we’re master metered), and keep the room clean… empty the wastebasket and sweep/mop the floor as needed.

Pretty much a no-brainer.