Should owners switch to electric vehicle charging points? –LandlordZONE

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Expert in recharging electric vehicles Matthew Gibbons (main image) explores the pros and cons of installing the different equipment in rental properties.

Rental properties with EV charging points are a rare thing, so installing one makes a home more desirable, increases demand, and means landlords can charge higher rent. Investigation shows that 76% of homes with an EV charger increase in value compared to the local average.

Demand for EV charging opportunities will only grow in the coming years, making it an effective way to future-proof your property.

Ability

But before deciding to install an EV charging point, homeowners should determine if their property’s electrical capacity can support the additional charge from an EV charger, especially if multiple charging points are being installed.

If the installation requires cables or other items to be placed in or on someone else’s property, all parties must agree to the work through legally binding agreements. This is often the case if the private parking lot is in an area away from the property and this land is not owned by the owner.

On-street parking is the one that generates the most concern, since charging points cannot be installed on public land if they are for private use.

One solution to this is to install the charging point outside the property, which allows the tenant to run a cable covered by the pavement to charge their vehicle.

For properties with off-street parking that is not dedicated to private spaces, a wall-mounted charging point can be installed.

costs

There are additional installation costs associated with installing a charging point further away from the property’s main power supply, and without gated parking it can be difficult to prevent others from parking in front of the charging point and in the spaces around it.

Most of the blocks of flats have a private car park with dedicated spaces for each household, making them the ideal location for electric vehicle charging points.

If the entire building is owned by one owner, some may choose to install a charging point for each individual household or each parking lot, but another option is to install communal charging points to share among tenants.

Once the charging points are installed, the owner must decide how he wants to manage them. Most manufacturers offer a smartphone app that connects to the charging point. All the energy consumed is added to the property’s electricity bill, leaving the management of the charging point to the tenants.

HMO Properties

Another method, which is more beneficial for community charging points in a block, but also for HMOs, is a rental app like forklift.

The lessor creates a “host” account and registers the charging point in the app. The tenants of the property then create a ‘charge’ account, which can be linked to the host. The landlord sets a price per hour for the use of the charging point and the tenants can reserve the charging point through the app.

subsidies

The Office of Zero Emission Vehicles provides a homeowners grant that install electric vehicle charging points on their properties. This grant can cover up to 75% of the cost of purchasing and installing a charge point, capped at £350.

Homeowners can apply for up to 200 grants for their residential properties per financial year, and these facilities can be for a single property or multiple properties.

The subsidy only applies to properties with clearly delimited private parking spaces, and the works must be carried out with an OZEV-approved installer using an OZEV-approved charging point model.

maintenance

Once EV charging points are installed at a rental property, owners must service one charging point every 12 months to ensure it is working properly. Owners should also review their current insurance policies to ensure charger-related liabilities are covered.

Lastly, the rental agreement for the property should be updated to include the relevant information, rules and regulations regarding the charging point, while tenants should also be aware of their responsibilities.

Most of the difficulties associated with installing an EV charging point can be overcome, and the adoption of greener transportation is vital to the country’s net-zero goals.

Matthew Gibbons is MD of Plug&Drive.