EV Charging for Multifamily Properties: Boost Value & Revenue

Electric vehicle (EV) ownership is skyrocketing, and so is the demand for accessible charging solutions at home. For property managers and real estate developers, integrating EV charging for multifamily properties isn’t just a trend—it’s a modern necessity. As consumer preferences evolve toward sustainability, equipping your apartment complex or condominium with EV infrastructure can significantly enhance tenant satisfaction, boost property value, and future-proof your real estate investment.

At Pelican Coast Electric, we specialize in making EV integration effortless and impactful for multifamily environments.

Why Invest in EV Charging for Multifamily Properties?

EV charging stations for multifamily properties are becoming key differentiators in an increasingly competitive rental market. Here’s why:

• Tenant Attraction & Retention: Residents increasingly own EVs or are planning to switch soon. Offering on-site charging meets this demand directly.
• Property Value Enhancement: Properties with sustainable amenities are appraised higher and leased faster.
• Environmental Leadership: Installing EV charging for multifamily housing underscores a commitment to green living, meeting corporate and community sustainability goals.

Types of EV Chargers: Which One Fits Your Property?

Understanding the Types of EV chargers is critical to implementing a successful charging strategy. Different properties have different needs, and not all charging stations are created equal.

Level 1 Chargers – Budget-Friendly Basics

Overview:

Level 1 chargers are the simplest and most cost-effective EV charging solution. They plug into a standard 120-volt household outlet, which means no specialized electrical work is needed to install them.

Use Case for Multifamily Properties:

• Low-Demand Scenarios: Ideal for properties where only a few tenants currently own EVs or where EV adoption is still growing.
• Cost-Sensitive Installations: Great for owners who want to test the waters with minimal upfront investment.
• Overnight Charging: Suitable for residents with a predictable daily routine who can leave their vehicles charging for extended periods.

Limitations:

• Very slow charging speed—often 3-5 miles of range per hour.
• Not suitable for tenants who drive frequently or need quicker charging.

Read more: Electrical Panel Upgrade: Do I Need To Upgrade My Electrical Panel For An EV Charger?

Level 2 Chargers – The Multifamily Gold Standard

Overview:

Level 2 chargers require a 240-volt outlet (like what’s used for large appliances). They provide significantly faster charging—typically 10 to 60 miles of range per hour—making them ideal for residential use.

Use Case for Multifamily Properties:

• Broad Appeal: Meets the charging needs of most EV drivers, making it ideal for condos and apartment complexes.
• Scalability: Easily expandable as more tenants switch to EVs.
• Incentive-Friendly: Often qualifies for local and federal installation incentives, reducing overall cost.

Benefits:

• Fast enough to fully charge most EVs overnight.
• Compatible with a wide range of electric vehicles.
• Easily integrated into smart charging systems for load management.

DC Fast Chargers – High-Speed, High-Cost

Overview:

DC Fast Chargers are the most powerful charging option available for residential and commercial use. They can charge a vehicle to 80% in under 30 minutes but require specialized infrastructure and high-voltage connections.

Use Case for Multifamily Properties:

• High-Traffic or Luxury Properties: Suitable for communities where quick turnaround is crucial—think urban high-rises or luxury developments.
• Mixed-Use Developments: Great in areas where retail and residential overlap, offering convenience for both tenants and visitors.

Drawbacks:

• Expensive to install and maintain.
• May require significant electrical upgrades and ongoing utility negotiations.

Dual EV Charging Stations – Efficiency Meets Demand

Overview:

Dual charging stations can simultaneously charge two vehicles, using either a shared power source or two separate outputs.

Why It Matters for Multifamily Settings:

• Space Saving: Ideal for garages or parking lots with limited room.
• Scalability: Doubles charging capacity without doubling the footprint.
• Cost-Effective: Reduces the need for multiple installations and cuts down on labor and materials.

Best Fit:

• Properties preparing for a significant rise in EV adoption.
• Locations where maximizing utility per square foot is crucial.

EV Charging for Multifamily Properties Tesla Drivers Will Love

Tesla owners represent a large portion of the EV market. Installing EV charging for multifamily properties Tesla drivers can use, such as Tesla Wall Connectors or universal J1772 connectors, ensures that all residents are covered, regardless of their vehicle brand.

At Pelican Coast Electric, we help you choose and install Tesla-compatible solutions that integrate seamlessly with your infrastructure and maximize convenience.

Read more: Do I Need To Upgrade My Electrical Panel For An EV Charger?

How to Strategically Implement EV Charging for Apartments

A successful rollout of EV charging stations for apartments involves more than buying hardware. Here’s a strategic approach:

Step 1: Assess Tenant Demand

Survey residents or track inquiries to gauge interest. Demand is only going to grow, and early adoption gives your property a competitive edge.

Step 2: Conduct a Site and Electrical Assessment

Evaluate your building’s electrical capacity. Our team at Pelican Coast Electric handles all technical assessments to ensure compliance with local codes and optimal energy use.

Step 3: Choose the Right Charging Configuration

Based on your budget, demand, and long-term goals, decide between Level 1, Level 2, or DC fast charging—and whether dual EV charging stations make sense for your layout.

Step 4: Installation and Commissioning

With Pelican Coast Electric, installation is turnkey. We handle permits, utility coordination, hardware setup, and final testing.

Financial Incentives for EV Charging Stations for Multifamily Homes

EV infrastructure isn’t just smart—it’s subsidized. Take advantage of these incentives to lower costs:

• Federal Tax Credits: Up to 30% off hardware and installation
• State Rebate Programs: California, New York, and others offer significant rebates
• Utility Company Incentives: Many providers offer direct rebates or infrastructure assistance

Our team stays updated on the latest grants and will help you apply for every dollar you’re entitled to.

Monetizing EV Charging: Turn Amenities Into Income

1. Usage-Based Billing: Charge per kWh or Session

With smart charging stations, you can implement usage-based pricing models where tenants are billed either by the kilowatt-hour (kWh) or per charging session. These rates can be customized based on your electricity costs and desired profit margin.

This model leverages digital connectivity to automate billing through mobile apps or integrated systems. It ensures that energy costs are recovered directly from users while creating a predictable stream of ancillary income.

2. Premium Parking Fees for EV Spaces

Electric vehicle charging spots can be designated as premium parking spaces. These are often closer to building entrances or in covered areas, enhancing their appeal. Tenants with EVs can be offered the option to reserve these spaces for an additional monthly fee.

The setup requires minimal management intervention once assigned and is ideal for buildings where parking is already at a premium.

3. Ad Revenue from Integrated Charging Screens

Some advanced EV charging stations come equipped with digital display screens that can be used for advertising. You can partner with media providers or local businesses to run targeted ads directly on the units.

This transforms your chargers into passive media assets, particularly effective in properties with high foot or vehicle traffic. Advertising slots can be sold based on location, time of day, or demographic alignment.

4. Use of Mobile Apps and Smart Metering

Modern EV charging infrastructure supports app integration and smart metering, simplifying management and enhancing revenue opportunities. Apps allow tenants to locate chargers, schedule sessions, receive alerts, and pay through digital wallets or linked accounts.

Smart metering tracks usage patterns, enabling you to optimize pricing strategies. It also supports tiered pricing, where rates vary by time of day, helping to manage energy loads more efficiently and potentially reducing demand charges.