Communal Laundry

[b7277]

Hi Property Gurus,

I am looking at an investment property and would like to know your thoughts on properties with communal laundry. Would it be a good investment? What are the pros and cons.

Happy Tuesday

Cheers
b7277

 

[nww]

You can normally pick up properties with shared laundries cheaper.
You possibly would find the rental return not as great.

I would be happy to purchase one as long as there was room
to put in an under bench washer/dryer in the kitchen so your rental return
is not effected as much.

 

[chilliblue]

^^^ as above.

If you ask tenants their opinion, there is a general dislike of communal laundries.

 

[FormerLurker]

IMO avoid unless the numbers are great and/or there is a possibility to renovate the property to have a nook style laundry.

 

[twodogs]

^^^ as above.

If you ask tenants their opinion, there is a general dislike of communal laundries.

Only thing worse is a communal bathroom !

In most units I have seen that had a communal laundry something was done to get it inside the unit as nobody likes this arrangement. If you can put some laundry facilities in a cupboard, kitchen or bathroom this may add some value to the unit as well as increase rental demand.

 

[travelbug]

As others have said- they are cheap[er. Look if there is opportunity (space) to put in a small washing machine to increase equity and rent.

In one of our units that has a communal laundry it has a huge hot water system on the floor in the bathroom. When/if the tenant ever moves out we will move it and put a washing machine in.