The savvy apartment manager knows that electric vehicles are already here. In California, the law requires EV charging stations at various types of residential properties. However, lots of EV owners still don’t know that charging up at apartments or condos is a viable option. The idea that charging might be available at home is incredibly enticing for many EV drivers. But for rental property owners and managers, there are still questions. How many chargers can I install? What kind of charging infrastructure best suits the needs, and operations for multi-unit dwellings? This doesn’t even cover the day-to-day operations for maintaining a station for condo or apartment EV charging.
Can EV charging increase my property value or rental rates?
EV charging increases both! EV drivers tend to be just the kind of high-value tenants that apartments want to attract. Offering amenities that mean something to them – like the cost and time-saving benefit of EV charging – keep those tenants for the long haul. Apartments offering EV charging show potential tenants that they’re aware of residents’ needs and know what’s important to them.
WILL I OWN THE CHARGERS OUTRIGHT, OR ARE THEY THE PROPERTY OF NOODOE EV?
Your chargers are your own. While Noodoe EV is there to support you when needed, we don’t own the chargers. Sit back, and enjoy all the benefits of improving your site and your business. You don’t need to worry about whether the benefits are there to stay.
Will my charging Network Become Harder to manage if i Want to Add More Chargers?
All Noodoe EV chargers are managed through Noodoe EV OS. It’s a robust cloud-based operating system that runs all Noodoe EV charging stations. It’s a powerful system made to make your life easier when it comes to controlling your EV charging network. It helps you control pricing, manage every charger in your network, and see vital usage and status reports with the click of a button. At Noodoe EV, we believe in ease and efficiency, so EV OS is made to grow with you and your network of connected chargers.
WILL I HAVE ENOUGH POWER TO HAVE AT LEAST 6-10 EV CHARGERS OR MORE?
While a complete answer can’t be given without a site feasibility visit, that doesn’t mean you can’t get an idea of what your charging operation might look like. Software-based load balancing (like the kind present in Noodoe EV OS) helps extend your current power capabilities. That’s because load balancing allows for up to a 4-to-1 ratio of chargers to breakers. You can have more chargers on the same breaker without breaking the bank with hefty upgrade options.
SHOULD I HAVE ASSIGNED PARKING OR ALLOW FREE-RANGE USAGE?
This mostly depends on how your parking situation is structured. If you already assign parking, then it’s easy to install chargers for tenants who already have EVs and want charging stations. Monetization is easy, too. Tenants with assigned chargers can pay based on usage or have a flat monthly cost added to their rent. However, for unassigned and pay-as-you-go guest parking, membership management is the easiest way to track charging usage.
HOW CAN I MONETIZE THESE CHARGERS?
Monetization comes in a few forms, and it’s up to you which one you want. While some rental properties bundle charging into the total rent for an apartment (meaning higher rent with EV charging as a free amenity), others choose instead to charge only those who use them to power up their EVs. You can monetize them outright by making your chargers available to anyone with a credit card or Apple/Google Pay, but a lot of multi-unit residences opt for charging memberships. Residents charge via a membership card stored on their phone or a physical RFID card. This setup tracks charger usage and shows management who’s using which charger. It also allows chargers to be made available for charging at two different prices: a members-only price and another price for visitors or local drivers.
CAN I SET MY OWN CHARGING RATES FOR MY TENANTS OR ALTER MY RATES BY THE HOUR?
In Noodoe EV OS, you can choose to charge by a dollar value per hour or by a kW usage value. Owners/Operators can change pricing based on the time of day, or the day of the week (or both!). Does demand go up in the evenings? Charge more for powering up during peak times and then decrease your rates to encourage nearby drivers to use your chargers during the day. The choices are all yours.
The Bottom Line
Charging up at a rental property doesn’t have to be a headache. Neither does offering tenants important home amenities. Adding EV charging to your rental property will increase its value and encourage valuable tenants to not only choose your location but remain longer. Robust features like load balancing and membership management make Noodoe EV OS the best choice for your charging network needs.