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California is speeding toward an all-electric future, with an estimated 12.5 million electric cars on the road by 2035. Regardless of skepticism toward the state's ability to handle such power on the grid, the growing demand may leave you wondering if you should install EV chargers at your rental property.
As emission-free vehicles become more popular, we've seen charging stations pop up around our city. Owning an electric vehicle means more planning to charge your car, as they aren't as popular as regular gas stations. That is unless you can charge your car at home.
EV charging is considered an amenity at the moment. But with such an aggressive plan to reduce gas-powered vehicles statewide, it wouldn't be surprising to see a big push from the state for at-home charging to encourage off-peak hour charging.
Like many tech sectors, the world of at-home EV charging comes with some variance. Different level chargers are available on the market, although level 2 chargers are often at homes and public charging stations. The most notable difference between these chargers is the speed at which they can recharge a car's battery.
If your rental property includes more than one unit, you may have the ability to install a level 3 charger as a potential additional revenue stream. But that's a conversation for a different time!
An essential part for a landlord installing an EV charger? Ensuring the lease agreement outlines who is paying for the electricity. If you're unsure how to approach your lease, schedule a free consultation with us today.
All that to say - don't be surprised if and when potential tenants ask about electric car charging. Plus, you don't want them trying to install it themselves!
We provide thorough training and unparalleled support to our portfolio managers, property managers, and associate team members to help them achieve above and beyond service—because we care!
You can reach us at 760-994-5037 or info@ascentpropertymanagement.com.