Adding an EV charging station to an apartment community is an excellent way to offer green living amenities to residents. This amenity is becoming increasingly popular, especially in upscale apartment complexes and urban areas. Adding an EV charging station is easy to do, and the cost of installing one is minimal.
EV charging stations are a sustainable amenity
In the age of sustainability, offering EV charging stations to residents is one of the most attractive apartment amenities. While a charging station is an upfront expense, the benefits are substantial. In addition to attracting a savvy and financially stable customer base, an EV charging station can also differentiate an apartment complex from competitors. According to one study, nearly six in ten EV owners are 30 or younger, and nearly half are older. This demographic is increasingly well-established in their careers and may have a retirement income to boot.
EV charging stations can also boost a building’s net operating income. The extra revenue will offset the cost of EV charging stations. Additionally, charging residents for their electricity may lead to higher profit margins. But some landlords are still hesitant to install EV charging stations in their properties. For these landlords, a software platform solution like EV Connect can automate the installation process and manage billing. With this software, landlords will be able to monitor the usage of their charging stations and can easily set pricing and availability.
They help fulfil sustainability goals
An increasingly popular consumer trend, EV charging stations for apartments can help property managers meet their sustainability goals. The Department of Housing and Urban Development (HUD) is exploring ways to incorporate EV charging infrastructure into multifamily rental housing as part of its Green Mortgage Insurance Premium (GMIP) incentive program, which lowers annual premiums for participating properties.
The first step to implementing EV charging stations for apartments is to find a charging station location. Typically, EV charging stations can be installed on parking spots. ChargePoint provides the stations and 24/7 customer support. A charging station located at an apartment building’s parking lot is a great way to attract EV owners and residents.
They are easy to install
Having EV charging stations in your apartment can be advantageous for both the tenant and the landlord. You will be able to attract more renters and make your property more attractive. Many EVs can also be fueled with different types of gas. An EV charging station is easy to install and can be set up in as little as two hours.
While installing commercial EV charging stations may require an initial investment, the benefits are huge and will set your apartment complex apart from the competition. According to a BloombergNEF report, EVs will account for 58% of new passenger car sales by 2040. But some landlords are wary of installing such equipment. To overcome this hesitation, they can choose a software platform solution that can manage charging stations, alert property owners of any issues, and help with billing. EV Connect, a software platform for EV charging stations, is an example of such a solution.
They are cost-effective
EV charging stations for apartments can provide a host of benefits. It makes your complex more attractive to EV drivers and sends a message that your complex cares about the environment. Moreover, it can boost your property’s value and rent cost. You can also ask EV owners to chip in and help with installation. In addition, you can explain to them the advantages of having an EV charging station.
For apartment owners, an EV charging station can be an excellent investment. There are many incentives available to help apartment building owners pay for it. The NYSERDA’s Charge Ready NY program offers up to $8,000 in rebates for each EV charging station. In addition, the state’s income tax credit can offset 50% of the remaining costs. In some cases, two charging stations can yield up to a $10,000 tax credit.
They are convenient
They are easy to use
Many apartment complexes have installed EV charging stations for residents. These convenient charging stations can be installed in shared parking areas or garage sections. Adding an EV charging station to an apartment complex can save money on fuel, and you can save the environment. However, it’s important to consider the location where you will place the EV charging station.
In addition to allowing residents to plug in their EVs, EV charging stations in apartments can help landlords gain renters. If your building doesn’t have charging stations, you can advocate for EV charging and explain to your landlord the benefits of an EV. As more tenants ask for these amenities, landlords may be forced to provide EV charging.
