Shared laundry facilities are a core amenity for multi-family properties and hotels, but outdated coin-only systems can hold back both tenant satisfaction and property performance. As more people move toward cashless living, properties that invest in modern laundry solutions gain significant advantages. Here are the top five benefits of upgrading beyond coin-only systems.
1. Greater Tenant Convenience
Most tenants no longer carry coins in their daily lives. Requiring residents to stockpile quarters creates unnecessary frustration and can make laundry day a dreaded chore. By offering credit, debit, or NFC contactless payment options, properties provide the convenience tenants expect. When laundry feels easy, tenants view it as a true amenity rather than a hassle, which leads to higher satisfaction and stronger retention rates.
2. Enhanced Security
Coin-only systems present real security risks. Machines stocked with coins are frequent targets of theft and vandalism, which results in costly repairs and lost revenue. Modern payment systems eliminate cash handling altogether, reducing the risk of theft both from machines and during collection. This not only protects property income but also reassures tenants that their building is safe and well-maintained.
3. Accurate Revenue Tracking
Collecting coins requires manual labor—counting, transporting, and depositing money—which is time-consuming and prone to errors. By contrast, digital payment systems offer real-time reporting and transparent records. Property managers can easily see usage patterns, track revenue accurately, and identify opportunities to improve efficiency. This level of insight simply isn’t possible with traditional coin collection.
4. Lower Maintenance Costs
Coin mechanisms are one of the most common points of failure in older laundry machines. Jams, misreads, and wear-and-tear often lead to costly service calls and frustrated tenants. Modern payment systems eliminate the need for coin slots, reducing mechanical breakdowns and downtime. Fewer repairs mean lower maintenance costs and a smoother experience for both tenants and property managers.
5. Competitive Advantage
In today’s rental and hospitality markets, amenities play a major role in attracting new residents and guests. Properties that advertise modern, cashless laundry facilities stand out from competitors still relying on outdated systems. Showcasing up-to-date amenities demonstrates that management invests in resident comfort and is committed to keeping pace with evolving expectations. In competitive markets, this can make all the difference when it comes to lease renewals or hotel bookings.
Upgrading beyond coin-only systems is more than a technology shift—it’s a strategic investment in tenant satisfaction, security, efficiency, and property value. By offering modern payment options, property managers and hoteliers can reduce costs, strengthen revenue management, and position their properties as forward-thinking and tenant-focused. In the long run, these upgrades pay for themselves many times over in both financial savings and resident loyalty.
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