As electric cars become more common, the number of renters looking for a rental home with an electric car charger has greatly increased. It would be smart to be willing to install one in their rental property. Nearly 800,000 electric vehicles have been purchased by Americans over the last few years. There is an annual increase in sales of electric vehicles.
If a resident asks for an electric car charger to be installed in your Temple rental home, there are a few things you should take into account before saying yes. First, there is the cost involved in the installation. Second, you need to decide who will do the installation work. Third, you need to consider the potential increase in the value of the rental property. These things need to be considered when you install an electric car charger.
Placing an electric car charger in your rental home would interest the residents who own electric cars. This means that the location plays a big role in making the decision. Some areas have a lot of electric car owners while other areas may have little to none. 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. In these areas, having an electric car charger installed would attract quality residents. It would draw and retain the best residents for your property in Temple.
If you decide to have electric car chargers installed, it’s important to have it done by a qualified professional. Allowing your resident to do it themselves may seem hassle-free but you run the risk of many things going wrong. The problem is that these are specialized chargers for electric vehicles. This means that professional installation is required; and in some cases, a permit and inspection by local authorities is also required. There is a lot of work and expertise needed for the installation. This is why a resident shouldn’t be responsible for such an important process.
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 more costly to find a new renter than to take their request for an electric car charger seriously. It’s also a good idea to check if there are any tax deductions— like energy credits— available for an owner who is installing an electric car charger. Tax incentives like these help soften the blow of the initial expense 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 you don’t have to figure it all out alone. At Real Property Management Talent, we have trained experts with the knowledge and tools to help figure out the right decision for you. If you want more information or have a question, don’t hesitate to contact us online or call us at 254-401-0400.
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