Electric vehicles (EVs) are no longer a future trend. They’re today’s reality and here to stay. Global EV sales surged in 2024 with more than 17 million cars sold worldwide, marking a 25% increase from 2023.

An increasing number of people either drive an EV or plan to do so in the near future, likely including some of your current and potential tenants. If you manage a multi-unit property, providing tenant satisfaction with EV charging isn’t just a bonus anymore — it’s a key amenity that enhances retention and property value.

Learn more about how EV charging matters to tenants, why it influences where tenants choose to live, and how it gives your property a competitive edge as demand for EV infrastructure grows.

Why EV Charging Matters

EVs are most popular with people who live in single-family detached homes because charging is simple. Plugging in overnight and starting every day with a full battery in your vehicle feels as good as leaving the house with your phone on 100%.

But what about those who live in condos, apartments, and other places where they can’t install their own charger? Public charge stations are available, but they’re not the most convenient or cost-effective option. While there are different types of chargers with varying charging speeds today, level 2 chargers — the most common midlevel chargers — can take anywhere from four to 10 hours to charge.

What if your tenants could charge their EVs from the comfort of their apartment complex? With this option, you offer convenience, savings, and long-term value to your tenants. Here’s why an EV charging station is an important feature to add to your list of apartment amenities.

1. Convenience

Approximately 64% of Americans live within a 2-mile radius of public charging stations. This means another 36% have to drive over 2 miles to recharge their EVs. At a quick glance, 2 miles may seem short, but in heavy traffic and during peak hours, it adds up.

You can offer a more convenient solution right on your rental property, attracting tenants with EV charging. By adding EV charging stations to your property, you allow residents to plug in as needed so they can start each day with a full battery.

2. Cost Savings

Public charging stations, especially high-speed ones, can be surprisingly expensive, charging high premiums for convenience when compared to residential utility rates. For daily commuters, the costs of public charging can quickly add up.

At-home charging, even paid managed charging offered by property management, can be offered at a fraction of the cost. That means real savings every month for your tenants. This feature will give your residents lasting value and another reason to renew or extend their lease, even as they reimburse you for your energy costs.

3. Sustainability Advantages

Today, consumers are prioritizing sustainability as they become increasingly aware of their carbon footprint. The desire to lead a greener lifestyle means many tenants will be searching for living spaces that align with these values.

One way to support eco-friendly lifestyles is by introducing EV charging stations to your apartment complex. This amenity shows your commitment to sustainability, which can be a powerful draw for residents who care about making a positive environmental impact. EV chargers can open up eligibility for credits such as the Low Carbon Fuel Standard, which can provide additional revenue to meaningfully offset your investment.

4. Future-Proof Solution

With EV adoption on the rise, properties with EV charging ports will likely attract and retain more tenants than those without EV chargers in the future.

If you want to stay ahead of the curve, consider installing EV charging points for your residents. This strategy can attract and keep tenants long-term while adding value to your property.

Impact on Tenant Satisfaction

Installing EV charging stations in apartments can significantly impact tenants’ satisfaction. By offering this amenity, you improve residents’ living experience and gain a strong edge in the rental market. Here are some ways adding EV charging could affect tenant satisfaction at your property:

• Increases retention: When tenants feel that their needs are met, they tend to stay and renew their leases. For EV drivers, on-site charging can be the difference between renewing a lease or moving out. Providing this convenience could help reduce turnover and keep units occupied by dependable renters.
• Attracts new tenants: As more people drive electric vehicles, properties with EV charging stations are likely to be more appealing to a growing number of renters. Installing a charging station on your property shows that you’re prepared to meet the evolving needs of EV owners.
• Positive word-of-mouth: Offering EV charging gives tenants another reason to speak positively about your property, which can help you attract more tenants.
• Competitive advantage: In a crowded market, EV charging can help your building stand out from the rest. It’s a practical amenity that could easily be the deciding factor in where to rent.

Implementing EV Charging at Your Property

Adding convenient EV charging for tenants is a straightforward process if you take the proper approach. Not sure where to start? Here are some steps to get you going:

1. Assess demand: Survey your tenants to understand how many currently own or plan to buy an EV. This information will help you gauge interest before making an investment. Consider that EVs will make up 65% of new vehicles sold in the U.S. by 2050.
2. Choose the right solution: Consider factors like parking layout, electrical capacity, and user needs.
3. Install the stations: Work with a qualified installer to ensure a safe, code-compliant setup.
4. Promote the amenity: Inform residents and prospective tenants about the new EV charging stations. Market the feature online, during prospective clients’ apartment visits, and through resident newsletters.

Liberty Plugins: Cost-Effective EV Charging Solutions

Offering EV charging for tenants can fit your budget. Liberty Plugins delivers affordable EV charging solutions for multi-unit buildings that help you meet demand without overstretching your budget. Here’s how we can support you:

• Affordable hardware: Liberty Plugins provides durable, smart EV charging stations at a lower upfront cost. It’s easy to incorporate this high-demand amenity into your property without straining your budget.
• Flexible payment options: Liberty Plugins supports multiple payment avenues for maximum convenience. Whether you plan to include charger fees in rent or pass on the costs directly to your tenants, system payments can be managed in different ways.
• Simple maintenance: The charging stations are easy to manage, and minimal upkeep means less hassle for the apartment management team.
• Scalable to meet demand: Not ready to invest much at the very beginning? You can start with minimal hardware equipped with a robust management platform and expand as demand grows. Liberty Plugins scales with your building’s needs, helping you future-proof apartment buildings with EV charging.

Get EV Charging Solutions From Liberty Plugins

Today’s renters are actively seeking homes that align with how they live and drive. EV charging is quickly becoming a popular feature that many tenants look for in apartment buildings. Adding a charging station can help increase retention rates and improve overall tenant satisfaction.

If you’re ready to stand out in a competitive rental market, meet rising demand and future-proof your property, we can help. Liberty Plugins offers the innovative, scalable, and budget-friendly EV solutions you need to bring this in-demand amenity to life. Contact us today to enhance your tenants’ satisfaction and your property’s value.