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Electric Car Chargers at Your Rental Property: What Newbury Park Landlords Need to Know

Electric Plugged into a Charging Station at a Newbury Park Rental PropertyAs the popularity of electric cars increases, so would the number of renters looking for a rental home with an electric car charger. It would be smart for property owners to look into installing one. 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 Newbury Park 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.

Installing an electric car charger in your rental home would capture the interests of people who own electric cars. This means that location plays an important role in making the decision. Some areas have a lot more electric car owners than others. If you can reasonably expect that an electric car charger would be needed by future residents, it may be a good decision to go ahead and have one installed. In these areas, installing an electric car charger will be a draw for certain prospective residents. It will allow you to attract and keep quality residents for your rental home in Newbury Park

If you decide to have electric car chargers, it’s crucial to find a qualified company install it for you. Letting your resident do it themselves may seem like a good idea to avoid the hassle, but that would be very risky. The problem is that these specialized chargers for electric vehicles require professional installation, and in some cases, a permit must be given, and an inspection must be done 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 cost is a big concern, then you must compare the cost 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 wise to check with local authorities and see if there are any energy credits or other tax deductions you can avail of when you install an electric car charger. It’s tax incentives like these that reduces the initial cost of installation.

As with any big decision, it’s good to evaluate the pros and cons of installing an electric car charger for your resident. And you don’t have to deal with this alone. At Real Property Management Ventura County, we have both the means and know-how to help you gauge the situation carefully and arrive at a decision that is right for you. For more information, feel free to contact us online or call us at 805-387-3682.

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