As electric cars get more popular, the number of renters looking for rental property owners willing to have an electric car charger installed in the home rises as well. Americans have purchased nearly 800,000 electric vehicles over the past couple of years, with the number of electric vehicles sold increasing every year.
If a resident asks for permission to install an electric car charger in your Capitol Hill rental home, there are some points you need to think about before saying yes. Aside from the costs of the installation, picking who will do the installation work and the possible value an electric car charger will add to your rental property are all questions that require carefully considered answers.
Installing an electric car charger in your rental home to bring in residents with electric cars may make sense depending on the location of the property. Some areas have a greater concentration of electric car owners than others. It might make a lot of sense to have it done if you can reasonably expect that future residents are going to need an electric car charger in the rental home. In these areas, having an electric car charger put in may draw in certain prospective residents, allowing you to entice and retain quality residents for your property in Capitol Hill.
If you choose to have electric car chargers installed, it’s important to find a trained company to do it for you. Making your resident take care of it might seem like a means of avoiding hassle in the short term, but specialized chargers for electric vehicles need professional installation and possibly a permit and inspection by local authorities. Some significant amount of work and knowledge is involved in the installation, so such an important process should never be performed by residents.
If you are concerned about the cost, it’s important to compare the upfront costs of installation to the cost of losing a quality resident. It may be costlier to replace the renter than to seriously consider their request for an electric car charger. It’s also smart to check and see whether there are any energy credits or other tax deductions available for installing an electric car charger. Tax incentives like these could help lessen the initial cost of installation.
As with any crucial decision, it’s wise to evaluate the pros and cons of satisfying your resident’s request for an electric car charger, and you don’t need to figure it all out on your own. At Real Property Management DC Metro, we have the information and tools to help you to assess the situation carefully and make the decision that is suitable for you. Please contact us online or call us at 202-269-0303 for additional information.
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