Modern,
Resident-focused Laundry Rooms Can Earn More Revenue
The appearance and
functionality of the laundry room are just as important as a building’s lobby
or other common areas in attracting residents because the laundry room creates a
perception of value and of
how well a building is managed and maintained.
Progressive property managers also understand that residents are
customers who have choices whether to use the building’s laundry facility. A
laundry smart card program coupled with a clean, bright, and ergonomically
designed central laundry facility can help fill vacancies, earn more income by
bringing residents back to the laundry room, and improve property values.
Residents like smart cards
because they no longer have to buy or save coins, or worry about correct change.
Most people, especially the elderly, find it far easier to slide smart
cards through a reader than to manipulate a coin mechanism.
Smart cards also allow residents to budget their laundry expenses more
easily. Card-activated laundry
equipment provides additional machine features, such as extended wash cycles and
additional drying time. Frederick Dobbin, Senior Vice President of Park Property
Management Inc., explains the effect smart cards have had on his laundry
revenues: "Residents love the convenience of smart cards. By providing a
better amenity, our card system has brought residents back to the laundry room
and my revenue has increased as a result. What
a great concept!"
Paul Aujla, President of
Woolner Holdings Inc., has seen similar results with his buildings: "We are
delighted with the revenue increase we have experienced since our laundry route
operator introduced the smart card system in our buildings.
The usage of the machines is phenomenal!"
Aujla also realized that a superior laundry amenity can be an excellent
marketing tool for the property. "Before having the
smart card system, our laundry room was just like everyone else’s.
The card system has helped us differentiate our building in the eyes of
potential renters, and we are proud to show off our laundry facility."
By removing cash from the
facility, smart cards eliminate the incentive for thieves to visit and vandalize
equipment. In fact, laundry route
operators have seen laundry room vandalism rates drop to less than 1% with the
introduction of a smart card system. This
makes residents feel safer and allows building owners to increase the laundry
room's hours of operation. Garry
Pyne, a resident of a Winnipeg apartment building with a laundry card system,
explains: "The smart card system is a great way to protect against theft
and it's safer for the tenants. It makes apartment life easier."
If you suspect you are
losing laundry revenues because residents have in-unit laundry equipment,
Coinamatic Canada has a smart card system that can help you detect which suites
may have in-unit connections so that appropriate action can be taken.
The most advanced card systems can even provide new revenue and income
control opportunities outside the laundry room, such as underground parking
access and revenue control, visitor parking payment, and resident
self-permitting for temporary parking. One
system even allows limited free washes each month, which can be included in the
basic rent.
Although smart card systems
require higher capital costs than coin-operated equipment, new advancements in
card reloading technology mean that implementing a laundry smart card system can
be an economical choice. The cost
of the technology is no longer an issue. The
issue is the expertise required for the development and management of the back
office settlement system, payment processing, and ensuring against technological
obsolescence. Even the largest
property managers might find it uneconomical to design and implement payment and
settlement engines that provide accounting by owner group, maintaining the
technology and continuity of supply.
While some laundry route
operators justify coin-operated laundry equipment by quoting the high cost of
card reloading devices, most large route operators recognize their clients' need
to be marketing oriented and innovative. People
pay for what they perceive to be valuable, and smart card technology is a means
by which property managers can provide innovative services for residents, making
their lives simpler, safer, and more convenient.
Even in these challenging times, residents will reward a safe, clean,
bright, aesthetically pleasing and ergonomically designed
"state-of-the-art" laundry facility.
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For further information
about laundry smart card programs, visit www.coinamatic.com.