As electric cars become more popular, the number of renters searching for rental property owners willing to put in an electric car charger in the home has also grown. Americans have bought almost 800,000 electric vehicles over the past few years, with the percentage of electric vehicles sold rising every year.
There are a couple of things you have to consider before saying yes when a resident asks to install an electric car charger in your Kalamazoo rental home. Apart from the costs involved in the installation, choosing who would perform the installation work and the potential value an electric car charger would add to your rental property are all questions that need well-thought-out answers.
Installing an electric car charger in your rental home to attract residents who have electric cars might be smart depending on the property’s location. Some areas have a greater concentration of electric car owners than others. If you have realistic expectations regarding future residents needing an electric car charger in the rental home, it might make so much sense to get it done. Having an electric car charger put in could even be a draw for certain potential residents in these areas, so you can attract and keep quality residents for your Kalamazoo property.
If you opt to install electric car chargers, it is crucial to get a qualified company to perform it. Letting your resident handle it may feel like a means of avoiding trouble in the short term, but specialized chargers for electric vehicles require expert installation and potentially a permit and inspection by local authorities. Because there is a substantial amount of work and knowledge involved in the installation, such a vital process should never be left to a resident to deal with.
If cost is an issue, you have to weigh the upfront costs of installation against the cost of losing a great resident. It could be pricier to replace renters than to take seriously their request for an electric car charger. Furthermore, it’s a good idea to check and see if there are any energy credits or other tax deductions available for getting an electric car charger. Tax incentives such as these may help reduce the initial installation cost.
As with any important decision, it’s smart to assess the pros and cons of fulfilling your resident’s request for an electric car charger, and you don’t have to figure it all out by yourself. At Real Property Management Investment Solutions, we have the knowledge and tools to help you to evaluate the situation thoroughly and make the best decision for you. Please contact us online or give us a call at 616-419-8880 for further information.
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