If you own or manage a residential rental property, you’re constantly looking for ways to better serve your tenants’ needs. Whether you have many long-term tenants or are looking to attract new residents, it’s important to stay ahead of the housing trends. Adding a substantial perk or new amenity can make all the difference between keeping your apartments and condominiums occupied.

You might have thought about upgrading the kitchen, installing a laundry facility, or even providing on-site parking. After all, only 80% of owner-occupied households in the U.S. have access to a garage or carport – and even fewer have a designated space to park. As long as you’re thinking of ways to make driving and parking easier, why not consider adding electric car charging stations at your multifamily community?

Renters Need Electric Vehicle Charging Stations

According to a recent poll, 15% of renters said they were planning to buy an EV within the next five years. Of those, 58% were willing to pay more in rent so they could charge their vehicle at home. Apartment and condominium communities that offer electric vehicle charging stations are able to serve this need, better satisfy tenants, and stand out from their competitors. While not every tenant will necessarily buy an electric car in the next five years, EV owners tend to be high value tenants who specifically want apartments with charging stations from leading EV charging companies.

In addition to the financial benefits from adding charging stations as an amenity, you can also reap the benefits of green marketing. Today’s renters want to live in communities that provide sustainable amenities such as recycling, ENERGY STAR certified products, smart technology that improve energy efficiency, and green spaces. With smart EV charging stations, you can support tenants who drive electric, reduce emissions in your community, and advertise your sustainable values. Installing charging stations may even help you earn LEED certification, which could translate to greater tenant interest and higher revenue streams!

Funding for EV Charging Stations

EV charging companies like SemaConnect are working with utilities and local governments to help workplaces and multifamily communities buy and install charging stations. In some regions, property managers can apply for funding that will provide free equipment, installation, or infrastructure. In others, you can receive a tax credit or rebate for total project cost.

In addition to the funding for the equipment itself, with smart networked charging stations, you have the option to charge users for electricity. Using a smart network, you can control access, set custom pricing, and view usage reports. Some property managers choose to provide electricity for free to users, but others instead want to pass along the cost of electricity or data services to their drivers.

Electric vehicle charging stations can help you attract and retain tenants at your multifamily community, as well as increase your company’s brand recognition on a local level. SemaConnect offers smart EV charging stations for multifamily properties with shared and dedicated parking. For more information on charging at your property, contact your sales manager today!