As the number of electric cars increase, so would the number of renters that need an electric car charger. They will be looking for rental property owners that are willing to install one for them. Over the last few years, nearly 800,000 electric vehicles have been purchased by Americans. The percentage of electric vehicles sold every year is increasing.
If a resident requests to have an electric car charger installed in your Pleasanton rental home, there are some things you should evaluate before saying yes. There is the up-front cost of the installation, there is the decision as to who will do the installation work, and there is the increase in value to your rental property. All these things need to be evaluated when deciding to install an electric car charger.
Owners with electric cars will surely be attracted to rental homes with an electric car charger installed. This means that the location of the property should be considered. There are areas with a lot of electric car owners and there are areas with little to none of them. If you can be reasonably certain that future residents will want an electric car charger in the rental property, it might be a good move to go ahead and have one set up. Having an electric car charger in these areas may even attract high-quality prospective residents. Having high-quality residents come, or preventing them from leaving, would be a great thing for your Pleasanton property.
If you decide to install electric car chargers, be sure to let a qualified company do it for you. Letting your resident take care of it themselves may lead to many problems, and it would not be worth whatever benefit it could give. These are specialized chargers for electric vehicles, and they require professional installation, and possibly a permit and inspection by local authorities. There is a remarkable amount of work and knowledge required when doing the installation, which is why such an important process should never be given to a resident to handle.
If expense is a concern, it’s crucial to weigh the upfront costs of installation against the cost of losing a quality resident. It may come out cheaper to grant the request for an electric car changer instead of trying to find a new renter. It would also be smart to check and see whether there are any energy credits or tax deductions available for an owner who plans to install an electric car charger. It’s tax incentives like these that help defray the upfront costs of installation.
As with any important decision, it’s important to weigh the pros and cons of fulfilling your resident’s request for an electric car charger. And this is something you wouldn’t have to figure out by yourself. At Real Property Management One, we have both the knowledge and the tools to help you thoroughly understand the situation and make the right decision. Please contact us online or call us at 925-794-8339 to get more information.