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Redesign and Renovation
Turning your laundry room into an amenity
4101 Cathedral Avenue
BEFORE
AFTER
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Most sales are made or lost during the initial tour of the property,
which has to include the laundry facilities. When selling
or renting a unit to a prospective resident, agents stress value
and life style. The two most negative aspects of coin laundry
are appearance and price, which run counter to everything else the
agent is promoting.
The most important factor is to begin looking at the laundry as
if it were an amenity like the pool, the exercise room, or the lobby.
YOU ARE ONLY AS GOOD AS YOUR WORST ELEMENT
Our program begins with the redesign
and renovation of the laundry room. The room must be clean,
bright, efficient and attractive. Imagine putting a desk in the
laundry room and making it your leasing/sales office. In a
very real sense it is.
IT IS ALL RENT TO THE RESIDENT
If a resident has an $800 housing budget, that must cover rent,
utilities, and laundry. If they spend $20 on laundry, then
they can only afford $780 for rent and utilities. Increasing
the rent by $20 and giving free laundry generates the same gross
revenue and you don’t give $10 away to the vendor. With
condominiums you substitute mortgage and condo fee for rent.
PETTY CHARGES ARE PRETTY AGGRAVATING
The free laundry program also makes money by eliminating a negative.
Anyone who has every used a “foreign” ATM machine and
had to pay $3.00 extra to make a $20 withdrawal knows how infuriating
these petty charges can be. Charging $1,000 rent and then
expecting another $3.00 every time the resident washes is the same
annoyance.
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