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Everything Affordable Housing Developers Need to Know About EV Charging

by Nestor Carrillo on Nov 26, 2024 4:21:52 PM

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Electric vehicles (EVs) are more than just the future—they’re the present. As EV adoption grows, so does the demand for EV charging at home, especially in multifamily properties like affordable housing. Adding EV chargers isn’t just about keeping up; it’s about creating value for your tenants, your community, and your property. In this guide, we’ll explore everything affordable housing owners need to know about installing EV charging stations.

Why Affordable Housing Needs EV Charging

Affordable housing owners have the unique ability to unlock economic opportunities for their tenants by installing EV chargers. As more low-income families and individuals transition to electric vehicles to save on transportation costs, having convenient access to charging stations at home becomes essential. By meeting this growing demand, property owners can empower tenants with a tool to lower their expenses while embracing a sustainable lifestyle.

Affordable housing often supports working families, gig workers, and eco-conscious renters seeking cost-effective solutions. Installing EV chargers not only provides these tenants with a practical way to save money but also positions your property as forward-thinking and tenant-focused. Offering EV charging stations signals your investment in the economic and environmental future of your community, making your property more competitive and attractive.

This upgrade has a big impact: it gives tenants access to lower-cost transportation options while enhancing the overall value and desirability of your property. By embracing EV charging, you’re not just meeting a need—you’re creating opportunities for your tenants to thrive.

The Cost Benefits of EVs for Tenants

Electric vehicles aren’t just good for the environment—they’re good for the wallet. For tenants, driving an EV means skipping trips to the gas station and avoiding costly maintenance like oil changes and brake replacements. On average, EV owners save thousands of dollars annually compared to those driving gas-powered cars.

For tenants working in the gig economy or managing multiple jobs, these savings are game-changing. By offering EV charging stations, you’re giving tenants an opportunity to reduce one of their biggest expenses: transportation. That’s like handing them a raise without changing their paycheck.

Incentives That Cover EV Charger Installations

Here’s the best-kept secret in the development world: installing EV chargers doesn’t have to cost you anything. Utility companies, state governments, and federal programs offer substantial incentives to offset installation costs. In fact, many utility programs across the country offer generous rebates and incentives that can cover up to 100% of the costs for installing EV chargers at affordable housing communities, making it a cost-free upgrade for property owners.

Buzze simplifies the process by finding the best programs for your property, managing the applications, and ensuring you maximize your savings. With the right incentives, you can install EV chargers with little to no financial investment while significantly enhancing the value of your property.

Building Community Value Through EV Charging

Affordable housing developments already provide incredible value to tenants through below-market rents. But adding EV chargers creates additional value that extends beyond affordability. It shows tenants that their needs—both current and future—are being prioritized.

By offering EV charging, you’re enabling tenants to access the benefits of driving an electric vehicle: lower costs, convenience, and sustainability. You’re also helping them prepare for a future where EVs become the standard. These efforts reinforce your property’s role as a cornerstone of the community, going above and beyond to support the people who live there.

What Tenants Gain: Saving Time and Expanding Opportunities

For tenants, access to EV charging is about more than just cutting costs. It’s also about saving time and accessing new opportunities. Gig workers, for example, rely on affordable transportation to maximize their earnings. With EV charging at home, they can skip the hassle of searching for public stations and focus on what matters most—getting the job done.

Additionally, families and working professionals benefit from the convenience and reliability of having a charger at home. It’s an amenity that saves time, enhances their quality of life, and makes transitioning to an EV a no-brainer.

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Future-Proofing Your Affordable Housing Property

As affordable housing properties transition to market rate over time, investing in EV infrastructure now can boost long-term value. The push for sustainability is only growing, with cities and states implementing stricter EV requirements. Installing chargers today not only ensures compliance but also avoids costly retrofitting in the future.

EV chargers make properties more attractive in competitive markets. While affordable housing benefits from high retention due to lower rents, adding amenities like EV charging positions your property to appeal to future market-rate tenants. It’s a strategic move that enhances property value, supports a seamless transition to market rates, and creates an asset that’s more desirable to both renters and potential buyers down the road.

Future Proofing

The "If You Build It, They Will Come" Effect

“My tenants don’t drive EVs yet,” you say. That’s precisely the point. By offering EV chargers, you’re enabling tenants to make the switch to electric without worrying about where they’ll charge. It’s a classic case of “if you build it, they will come.”

As EV adoption grows, tenants will increasingly look for properties that cater to their needs. By adding chargers now, you’re staying ahead of the curve and ensuring your property appeals to the next generation of renters.

Build It - EV Chargers

24/7 Real Human Support

At Buzze, we understand the importance of reliable support when managing EV charging systems. That’s why we offer 24/7 access to real, human experts who are here to help whenever you need it.

Whether it’s a quick question about the admin panel, troubleshooting an issue with a charger, or guidance on optimizing your system, our dedicated team is always available to ensure your experience is smooth and hassle-free.

Here’s what you can expect from our support:

  • Round-the-Clock Availability: Get help any time, day or night.
  • Expert Assistance: Work with knowledgeable professionals who understand your system inside and out.
  • Proactive Monitoring: We actively monitor systems and alert you to any potential issues before they become problems.
  • Personalized Solutions: Receive tailored advice and solutions specific to your property’s needs.

With Buzze, you’re never alone. Our support team is just a call or click away, ready to keep your EV charging operations running seamlessly.

24/7 Real Human Support

How Buzze Makes EV Charging Installations Hassle-Free

Let’s face it—installing EV chargers sounds complicated. That’s where Buzze comes in. We manage every step of the process, from securing incentives to coordinating installation and providing ongoing support. Our turnkey solutions mean you don’t have to lift a finger.

With Buzze, you’re not just installing EV chargers—you’re adding an amenity that benefits tenants, enhances your property’s value, and positions your community as a leader in sustainability.

Buzze - Hassle Free

How to Get Started With EV Charging

  1. Contact Buzze: Share your property address, and we’ll handle the rest.
  2. Explore Incentives: We’ll find and secure funding opportunities tailored to your property.
  3. Install Chargers: Our team manages the entire process, from permits to installation.
  4. Provide Support: We offer ongoing maintenance and support to keep everything running smoothly.

GET STARTED →

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Topics: Guide

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