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

Electric Plugged into a Charging Station at a Raleigh Rental PropertyAs the number of electric cars increase, so would the number of renters that need an electric car charger. They will be looking for rental property owners that are willing to install one for them. Over the last few years, Americans have bought nearly 800,000 electric vehicles. There is a constant increase in the percentage of electric vehicles sold every year.

A resident may ask to have an electric car charger in your Raleigh rental home. If such a request is made, you should consider a few things before granting the request. You should consider the up-front expense of the installation of the charger. You should also consider who will be doing the work of installing it. And you should also consider the potential value that an electric car charger would add to your property.

The location is also a huge factor since installing an electric car charger appeals to residents who own electric cars. 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 Raleigh 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 may seem like a way to save some time and money, but you’d be taking a huge risk. There are specialized chargers for electric vehicles and they require professional installation. Some may even require permits and inspections done by local authorities. A significant amount of work and knowledge is required for the installation. This is why it is not wise to let the resident handle such an important process.

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. Granting the request for an electric car charger may come out more cost-effective than trying to find a replacement renter. In some areas, there are energy credits or other tax deductions for installing an electric car charger, and it would be a good idea to see if these are available for you. It’s tax incentives like these that help defray the upfront costs of installation.

As with any important decision, it is a must to check the pros and cons. You need to do this when deciding to grant the request for an electric car charger. And you don’t have to deal with this all on your own. At Real Property Management Raleigh, we have both the knowledge and the tools to help you thoroughly understand the situation and make the right decision. If you have any questions or would like more information, feel free to contact us online or call us at 919-481-0008.

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