5 Trends for Multifamily The rental market is evolving and changing like never before. To attract and retain residents, be aware of these latest trends: Micro-apartments Micro-apartments (approximately 350 square-foot units) — which first gained popularity in New York City — are finding a space in other up-and-coming neighborhoods. With an influx of young professionals in high-demand markets, builders and renters are embracing the micro-apartment trend. So, think small. Gyms and Workout Spaces Prospective renters are looking for nearby gyms. If you don’t have a work-out room or space on site, you can still capitalize on this trend by advertising the proximity to gyms in your apartment listings. Check out your local fitness center – they may even offer specials for new residents to the area. Green Environmentally conscious residents are looking for green living spaces. In addition to making energy-efficient upgrades in your laundry room and throughout your property, consider designated bicycle parking, a community garden and a recycling program. Telecommuting With the trend toward more people working from home, convenient onsite business centers and common-area meeting rooms are in demand. Also, be sure to keep pace with the latest high-speed Internet capabilities for your property. Roommate-Renter Households Nonfamily members are sharing space to make renting more affordable. With this trend, you may see an increased demand for multi-bedroom and bathroom units. Also, be sure your lease agreements include all occupants. As housing demand, affordability and availability continue to shape trends in many major markets throughout the country, multifamily property managers and owners are advised to stay on top of these changes and respond to them with flexibility and creativity.
5 Reasons to Use a Laundry Vendor Whether you’re new to rental property management or simply looking for ways to improve your apartment’s services, you’ll need to make some important decisions about your laundry facilities. A well-managed laundry room in a multifamily complex can be one of the most effective ways to attract and retain residents – but should you handle the logistics yourself or hire a laundry management service? To help you make your decision, consider these five ways a laundry room management service can help your rental property: It can save you money. It’s a common misperception that owning laundry equipment and managing it yourself is more profitable than working with an outside service. More often than not, the financial benefits of purchasing machines are far less than one might expect when you take into account the cost of replacements, repairs and ongoing maintenance. By contracting with an outside company to provide laundry room equipment and professionally manage laundry operations, property owners can benefit from deep discounts that these vendors are able to negotiate with leading manufacturers in purchasing machines. Furthermore, some vendors offer a vend-price analysis to help optimize laundry room use and profitability. It will eliminate the hassle of service and maintenance. Keeping a laundry room in tip-top shape is a tough task – there’s payment processing and collection, the cost and hassle of machine maintenance, and repairs, cleaning, handling resident complaints, shopping for liability insurance, and more. But despite the work, having a clean and convenient laundry room attracts and retains renters and equates to more money for the multifamily property. Having a professionally managed laundry room offers the convenience of having your laundry services completely taken care of – from selecting the right machines to ongoing maintenance and repairs. It will keep you up-to-date with technology. There is a tremendous opportunity for property owners to stay on the forefront of new and emerging technology to ensure that the laundry experience is the best it can possibly be. With advancements such as mobile pay technologies, remote laundry monitoring that sends text alerts to residents when their laundry is done or when a machine becomes available, and an app that provides customers with a convenient way to report a problem with a machine, a laundry management service makes it easy to incorporate technology into your laundry offerings. It will provide peace of mind. Unfortunately, crime in laundry rooms is not uncommon and can leave you with the cost and hassle of repairing or replacing equipment. Smart laundry room management services provide advanced security features and follow strict protocols to deter break-ins, theft and vandalism. It will boost resident satisfaction and retention. Residents who are treated right and have what they need in their rental – including clean, well-managed and advanced laundry facilities – are happier and less likely to search for a new apartment. This means less turnover and more profit for the bottom line. The right apartment laundry vendor can not only provide the essentials, but can provide consultations and recommendations on industry trends – such as mobile payment, convenience features and laundry loyalty programs. Providing excellent service for more than 70 years, WASH Multifamily Laundry Systems allows you to retain control of your apartment’s laundry facilities, while an eliminatinate service and maintenance hassles while earning money. As a dynamic, multinational business, WASH provides the latest technologies to maximize resident satisfaction and customer profit. To learn more, visit https://www.wash.com/
10 Laundry Room Design Tips If you’re planning new construction or renovations to your multifamily property, don’t forget the importance of good laundry room design. Studies show that a convenient and well-maintained shared laundry room is a must for resident satisfaction and retention. The effective design makes the laundry room a true amenity and doing laundry less of a chore for your residents. WASH Multifamily Laundry Systems offers these 10 tips for good laundry room design. Dryers — Start with dryer location when developing room layout. Dryers should be situated on an outside wall whenever possible for most efficient venting. Walls behind dryers must meet required fire ratings. Washers — In large facilities, washers and dryers may be arranged in banks or clusters. Smaller rooms should be arranged in 2 x 2 or 4 x 4 groupings. Seating — Adequate seating should be provided, especially when the predominant resident profile is senior citizens. Folding Area — A minimum of six square feet (2’ x 3’) of table top space is needed for one user to fold clothes. The greater the number of dryers in a room, the greater the need for folding space. It is better to have too much folding space than too little. Plan accordingly. Floor and Drainage — Always use concrete with a troweled finish and sloped toward the floor drain. Security — Laundry rooms should be designed to eliminate personal danger. This includes planning entry ways on main traffic patterns along with using glass walls or panels, when possible, to provide total visibility and eliminate screened areas. Water Heater — Should be placed near washers and protected by proper fire-rated walls. Lighting — Energy efficient or fluorescent lighting is recommended. Rooms should be well illuminated with fixture selection suitable to room size. Sinks — While not required, you may want to consider including them in your layout. Be sure to design to provide for occasional overflowing from misuse. Passage/Service Space — Provide ample room for passage around equipment and furnishings. Always allow adequate room for machines to be serviced. In addition to the basics, put some thought into the bells and whistles of your laundry room design. Would your residents appreciate a flat screen wall mounted TV and/or free Internet access? What about a reading nook with a small library of books? Also, consider including mobile payment options so residents won’t need to search for quarters every time they do laundry.
Broken Washer? WASH Has an App for That WASH has devised a mobile app that allows users to easily report machine problems in WASH laundry rooms. With the WASH Connect mobile app, available for iPhone, Windows and Android phones, and a specially formatted mobile site, www.wash.com/wash-connect, requesting repairs can be done immediately online right from your smartphone or tablet. With this convenient way to report problems, washers and dryers can get back up and running sooner. And, there is no waiting for regular business hours to make a report. The site operates 24 hours a day, seven days a week, 365 days a year. The WASH-Connect app is part of WASH’s ongoing commitment to superior service and convenience. Coupled with strict service protocols, the app allows you to submit service request any time of day, no account required.