As electric cars increase in popularity, the quantity of renters looking for a rental property with an electric car charger has increased. It would be wise for owners to be willing to install one in their rental homes. Americans have bought nearly 800,000 electric vehicles over the last few years. And the percentage of electric vehicles sold increases every year.
If a resident asks for permission to install an electric car charger in your Key Largo rental property, there are a few points you need to evaluate before granting the request. 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.
Owners with electric cars will surely be attracted to rental homes with an electric car charger installed. This means that the location of the property should be considered. There are areas with a lot of electric car owners and there are areas with little to none of them. If you can reasonably predict that future residents will need an electric car charger in the rental home, it may make sense to go ahead and have it installed. Having an electric car charger in these areas may even attract high-quality prospective residents. Having high-quality residents come, or preventing them from leaving, would be a great thing for your Key Largo property.
If you go ahead and install electric car chargers, it’s vital to have a qualified company do the work 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 major concern, then it is important to weigh the upfront cost of installation against the cost of a quality resident leaving. It may be more expensive to find another resident to rent the property than it is to grant the request for an electric car charger. It would also be sensible to find out if there are any energy credits or other tax deductions available for having an electric car charger installed. It’s tax incentives like these that reduces the initial cost of installation.
Just like in any important decision, it would be prudent to evaluate the pros and cons of granting your resident’s request for an electric car charger. And you don’t have to figure this out by yourself. At Real Property Management Sunshine, 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. If you want more information or have a question, don’t hesitate to contact us online or call us at 305-930-7867.