The number of renters searching for rental property owners willing to install an electric car charger in the home has increased along with the rise of popularity for electric cars. Americans have purchased roughly 800,000 electric vehicles in the past few years, with the number of electric vehicles sold growing yearly.
If a resident asks for permission to install an electric car charger in your Venice rental property, there are some things you should think about before agreeing to it. Apart from the costs needed in the installation, your choice for who would be doing the installation work and the possible value an electric car charger is going to add to your rental property are all questions that require carefully studied answers.
Having an electric car charger installed in your rental home to attract residents with electric cars might make sense depending on the location of the property. Some areas have a bigger concentration of electric car owners than others. If you can realistically assume that future residents are going to need an electric car charger in the rental home, it might make a lot of sense to go ahead and have it installed. In these areas, having an electric car charger installed could even be a draw for particular prospective residents, which can help you attract and retain quality residents for your property in Venice.
If you choose to install electric car chargers, you have to find a qualified company to do it. Allowing your resident to handle it may seem like a way to avoid a hassle in the short term, but specialized chargers for electric vehicles require installation by professionals and maybe a permit and inspection by local authorities. There is a substantial amount of work and knowledge needed in the installation, which is why such an important process should never be left up to a resident to take care of.
If cost is something you’re worried about, you should weigh the upfront costs of installation against the cost of losing a quality resident. It might be more expensive to replace the renter than to take their request for an electric car charger seriously. Also, it’s a smart idea to check and see whether there are any energy credits or other tax deductions available for having an electric car charger installed. Tax incentives such as these could help defray the initial cost of installation.
Like with any significant decision, it’s wise to evaluate the pros and cons of meeting your resident’s request for an electric car charger. But, you don’t have to figure it all out on your own. At Real Property Management California Coast, we have the tools and knowledge to help you to evaluate the situation carefully and make the decision that is best for you. Please contact us online or give us a call at 310-535-2150 for further information.
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