As more and more drivers turn to energy- and environmentally-friendly vehicles by EV Charging System, it often becomes the responsibility of others – business owners, property managers, etc. – to provide ways for these car owners to charge their vehicles each day. The day will come when it will be for places like apartment buildings and business complexes NOT to provide EV charging stations, making it more important than ever for property owners and managers to stay ahead of the game by beginning to think about installing such options for their tenants now.
Recent reports by a variety of automobile-related organizations note that the purchase of electronic vehicles is expected to grow about 25 percent per year over the next five years. That’s a lot of new electronic cars on the highways! Such sales predictions necessitate the installation of many more charging stations across the country, both on private property and in areas that can be used by anyone with an EV.
There’s no doubt, however, that property managers have questions about installing EV Charging System, including whether they’re worth the time and expense. Those are certainly valid concerns but most of these queries can easily answer.
What is an EV charger?
In short, an electronic vehicle (EV) charger is simply a piece of equipment that provides electric power to charge plug-in automobiles. It’s just like plugging an appliance into the wall when you want to use it. Nothing terribly fancy and no super-advanced technology involved!
The advantages of installing EV chargers
Property managers and owners, of course, must crunch their numbers, so to speak, as they consider whether or not to install EV chargers on their properties. Nonetheless, there are a number of advantages to moving forward.
Amenities –
As the owner of a business complex or apartment building(s), you already offer a variety of amenities. It might be snow removal, perhaps, or a swimming pool or fitness facility. Think of EV charging stations as yet another amenity that will attract tenants. The ability to charge your electric car in a place just steps from where you work or live is a big deal for EV owners. Indeed, anyone looking for a “green” apartment or business complex will see this as a must-have amenity.
Attract highly-educated tenants –
CarMax did a survey in which they established that more than two-thirds of EV owners have a four-year university degree or higher and have stable, well-paying jobs. Whether you’re a manager for business units or apartments, these are the kind of tenants you seek, no doubt.
Keep tenants longer –
Because EV owners appreciate the opportunity to charge their cars in a space that’s convenient to them, you are likely to hang on to these tenants for a longer time. Most data shows that electronic vehicle owners keep their cars for four or more years, making this convenience a long-term perk.
Receive incentives –
The Canadian government is firm in its goal to de-carbonize transportation in the coming decades so it has implemented tax write-offs and purchase incentives to prospective buyers of both electric vehicles and EV chargers. Certain guidelines apply (for example, workplace chargers must be primarily used by employees), so be sure you’re familiar with those before you proceed.
Generate revenue –
Tenants don’t expect free use of charging stations. They understand they’ll pay for it somehow. Decide how to handle this. You could charge EV owners a flat monthly fee or bill them per kWh used. Start by understanding your tenants’ needs. In apartments, most EV owners prefer overnight charging. You’ll likely need one charger per EV owner. Keep this in mind when setting costs.
Keep your community relevant –
It’s estimated that within the next 15 years, more than half of the cars sold in Canada and the U.S. will be electric vehicles. By getting a jump on EV charger installation, your commercial real estate will be relevant for years to come.
By choosing the right partner to supply and maintain your charging stations, you can achieve profitability with your EV charging stations and develop good relationships with your tenants and other clientele. To learn more about the benefits of EV charging stations at your commercial real estate property, talk to the experts at Western Oil Services & EV Charging System by calling 604-514-4787.