As the demand for electric cars become greater, the number of renters looking for a rental home with an electric car charger has gone up. Owners should consider installing one to their rental property. 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 have an electric car charger installed in your Pasadena rental home, there are some things you should think about before agreeing. Firstly, there is the expense involved in the installation. Secondly, you also need to consider who should do the installation work. And Thirdly, also consider the potential increase in value when you add an electric car charger to your rental property. All these are things that need careful consideration.
Installing an electric car charger in your rental home appeals to residents who own electric cars. This means that the viability of such a decision largely depends on the location of the property. In some areas, the number of electric car owners is high, while in other areas, there may only be a few. If you think that future residents will need an electric car charger in the rental home, then it would be a smart move to have one installed. In these areas, having an electric car charger installed draws certain types of residents. This means that you’ll be attracting and retaining quality residents for your property in Pasadena.
If you decide to have electric car chargers placed, it would be a good idea to have somebody qualified to do it for you. Allowing your resident to take care of it may seem like an easy way to avoid the hassle. However, the risk of doing this is great. Specialized chargers for electric vehicles require professional installation and even, in some cases, a permit and inspection by local authorities. There is a huge amount of work and knowledge needed for the installation. This is the reason why such an important process should not be left up to the resident to handle.
If cost is a point of consideration, then it is important to take to account the costs of both options. On one hand, there are the upfront costs of installation; and on the other, the cost of losing a quality resident. It may be more expensive to have to look for a new renter than it is to grant their 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. Tax incentives like these go a long way in cutting down on the cost of installation.
As with any major decision, it would be smart to consider the pros and cons of installing the electric car charger that your resident wants. And you don’t have to figure this out by yourself. At Real Property Management East San Gabriel Valley, we have the tools and expertise to help you assess the situation carefully and make the decision that is right for you. Please feel free to contact us online or give us a call at 626-600-2884 for more information.
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