Card, Coin, Token, or Free?
Each method of laundry room payment has its advantages and disadvantages. We can help you consider you options and make the best choice for your situation.
- Coin has the lowest initial expense. The downside is the cost of collecting and processing all those quarters. Most laundry vendors will offer “management” contracts that will include collection services. Theft, however, is always a concern.
- Tokens are equally inexpensive, with token slides cost the same as coin-acceptance devices. Plus, tokens can be recycled and plastic tokens are relatively inexpensive. The advantages of token systems are increased cash flow from the sale of tokens, controlled access to machines and low vandalism (since the tokens have no cash value outside the laundry room). The disadvantages are the cost of collecting, counting and distributing the tokens.
- Card systems are more expensive to install, but offer the greatest convenience for both management and residents. The “cashless” systems allow residents to add value to their cards online. They allow a management company to collect the funds from numerous communities electronically. This minimizes the risk of theft.