EV fast charger installation on rental property

[Vince Mai]

Hi everyone! 

I wanted to reach out to the BP community about EV fast charger. My tenant emailed inquiring about installing an EV fast charger at my single family rental. They will hire an certified electrician to provide a quote for installation and will pay for the installation. They have also agreed to leave it there on the property at the end of the lease. What are your thoughts about this allowing this? 

Thank you! 

Vince

[Scott Mac]

Hi Vince,

Without saying yeah or nay.

If you do it, you take control of it 100% and let the renter pay you in advance of the work being done.

Think where it will best go. In the future they will make large pickup trucks that need this, and they must fit where the charger is.

Also, know what the service life and repair costs are for this equipment and factor those into your CAPEX and repairs budgets.

Make sure the equipment you are installing is the equipment you want to offer to other renters in the future. Brand, etc..., cheapy-cheap stuff vs top of the line--your choice.

Will it make your insurance go up?

Will it make your property taxes go up?

Good Luck!