The number of renters looking for rental property owners willing to install an electric car charger has increased along with the growth in popularity for electric cars. Americans have bought about 800,000 electric vehicles in the last few years, and the number of electric vehicles sold grows yearly.
There are a couple of things to consider before approving a tenant’s request for permission to install an electric car charger in your Tampa rental property. Aside from the costs of installation, choosing who will install the charger and the value a charger will add to your rental property are all questions that require thought out answers.
Installing an electric car charger in your rental home to bring in tenants with electric cars might be smart depending on the location of the property. Some areas have more electric car owners than others. If you can realistically expect that future tenants will need an electric car charger in the rental home, it may be a good idea to get it installed. In these places, having an electric car charger installed could attract potential tenants, which would help you draw in and maintain quality tenants for your Tampa property.
If you opt to install electric car chargers, you should get a qualified company to perform it. Letting your tenant handle it may feel like a short-term way to avoid trouble, but specialized chargers for electric vehicles require expert installation, a permit, and inspection by local authorities. Because there is a substantial amount of work and knowledge needed in the installation, such a vital process should never be left to a tenant to deal with.
If you are thinking about the cost, it’s important to compare the upfront costs of installation to the cost of losing a quality tenant. It may be more expensive to replace the renter than to consider their request for an electric car charger. Also, it’s smart to find out whether there are any energy credits or other tax deductions available for installing an electric car charger. Tax incentives like these could help reduce the initial cost of installation.
Like any crucial decision, it’s wise to evaluate the pros and cons of satisfying your tenant’s request for an electric car charger, and you don’t have to figure it all out alone. At Real Property Management TradeWinds, we have the knowledge and tools to help you to examine the situation carefully and make the decision that is right for you. Please contact us online or call us at 727-400-4722 for further information.