As electric vehicles (EVs) become more mainstream, the demand for EV charging stations is skyrocketing. Installing EV chargers at residential or commercial properties doesn’t just cater to this growing market—it can also significantly increase property value by creating a new source of revenue that positively impacts Net Operating Income (NOI).
With more people making the switch to electric vehicles, properties that offer convenient, accessible EV charging are increasingly attractive to both tenants and buyers. And for property owners, these chargers represent an opportunity to generate additional income, improve tenant retention, and boost property values in a sustainable way.
Bob Waun, co-founder of DIRT Realty, is leading the charge on this front. “Installing EV chargers is no longer just a nice-to-have—it’s a smart investment that can deliver strong returns,” says Waun. “As we move toward a future where EVs dominate the roads, properties with charging infrastructure will have a huge competitive advantage. It’s an opportunity for real estate owners to boost their NOI and attract high-value tenants.”
In fact, DIRT Realty’s mission for 2024 includes identifying and leasing over 300 new parking space locations to install EV chargers, helping property owners capitalize on the growing demand for electric vehicle infrastructure. Partnering with top EV charging installers like Chargestar, a leader in the U.S. market, ensures that property owners receive high-quality installations that can deliver reliable revenue streams.
How EV Chargers Impact Property Value
The installation of EV chargers can have a direct impact on property value by increasing both the rental income and the property’s market appeal. Properties equipped with charging stations can charge higher rents, attract eco-conscious tenants, and increase tenant retention, particularly in high-demand urban areas where EV adoption is rising rapidly.
Here’s how EV chargers can increase property value:
New Revenue Streams: Property owners can generate additional revenue by charging EV drivers for electricity. Many modern charging stations allow owners to set their own rates, either by the hour or by the kilowatt-hour (kWh). As more tenants or visitors use the chargers, property owners can see a direct increase in NOI.
Higher Rents: EV drivers are often willing to pay a premium for the convenience of on-site charging. Whether at multifamily properties, office buildings, or retail centers, having EV chargers available can justify higher rents and premium pricing for parking spaces.
Increased Occupancy: Offering EV charging as an amenity can set a property apart from competitors. This can attract higher-quality tenants and buyers, particularly as the EV market continues to expand. Studies have shown that 88% of EV owners are more likely to rent or buy a home that offers charging capabilities.
Sustainability Appeal: Properties with EV chargers align with sustainability goals, which is increasingly important to tenants, businesses, and consumers. As the world moves toward greener solutions, having EV infrastructure can help properties qualify for LEED certifications or other green building standards, boosting the property’s overall appeal and value.
“Real estate is about adapting to future demand,” says Waun. “The demand for EV chargers is only going to grow, and properties that don’t invest in this infrastructure now are going to be left behind. It’s about future-proofing your asset while creating immediate financial benefits.”
EV Chargers as a Revenue Stream and NOI Booster
One of the most exciting aspects of installing EV chargers is the potential to create a new revenue stream for property owners. For commercial properties like office buildings, shopping centers, and hotels, installing EV chargers creates an additional service that can be monetized, driving up NOI. For multifamily housing, offering tenants the ability to charge their vehicles on-site adds value and can justify increased rent or parking fees.
Here’s how adding EV chargers can improve NOI:
Direct Charging Fees: Property owners can charge EV drivers for the electricity they use, generating consistent income. Rates can be customized to reflect peak hours, overnight charging, or even free options for certain tenants.
Parking Premiums: Designating premium parking spaces with EV chargers can lead to higher parking fees or rental rates. Many tenants, particularly those in urban areas, are willing to pay extra for the convenience of charging their EV close to home or work.
Increased Occupancy and Retention: By offering EV chargers, properties become more attractive to EV drivers, which increases the likelihood of leasing or selling units quickly and at higher rates. This can directly improve NOI by reducing vacancy and turnover costs.
Potential Incentives: Federal and state governments, as well as utilities, often offer tax credits and rebates for installing EV charging stations, further improving the ROI for property owners. These incentives can help offset installation costs and increase overall profitability.
With more businesses and tenants adopting electric vehicles, the ability to offer on-site charging is becoming a must-have. For real estate owners, this represents a huge opportunity to diversify income streams and boost NOI.
“Our goal is to help property owners tap into this growing market by leasing space for EV charging installations,” Waun explains. “Working with experts like Chargestar, we’re ensuring that properties are not only prepared for the future but also generating immediate financial benefits.”
The Growing EV Market and Its Impact on the Grid
The electric vehicle market in the U.S. is expanding rapidly. In 2022, 5.8% of all new car sales were electric, and by 2030, it’s projected that half of all vehicles on the road could be electric. This rapid shift toward EVs will significantly increase the demand for charging infrastructure, and properties that can provide EV chargers will be positioned to attract tenants and buyers who rely on them.
However, this surge in EV usage will also put additional strain on the already aging U.S. power grid. As demand increases, the likelihood of rolling blackouts may become more common in certain areas, making properties that can offer reliable EV charging even more attractive. Charging networks that can also integrate with battery storagesolutions will create additional value, offering properties the ability to store excess power and distribute it when needed.
“Electric vehicles are the future, but they’re also going to add new challenges to our existing infrastructure,” Waun notes. “Properties that can offer smart, efficient charging solutions will have a huge competitive advantage—not just for today’s tenants, but for the generations of EV drivers to come.”
Partnering with Chargestar for Reliable EV Charging Installations
To help property owners tap into this emerging market, Chargestar, one of the top EV charging installers in the U.S., provides state-of-the-art EV charging solutions that are easy to install and manage. By partnering with Chargestar, property owners can ensure they are offering reliable, high-quality charging for tenants and visitors while optimizing their investment for long-term returns.
Chargestar specializes in installing commercial and residential charging stations, helping properties add EV charging as an amenity while offering full support and maintenance. With a growing number of properties looking to install EV charging stations, Chargestar’s expertise in the field ensures a seamless, efficient installation process.
“We’re excited to be working with Chargestar as we expand our efforts to lease more parking spaces and increase EV charging infrastructure across the country,” Waun says. “This is a win-win for property owners, tenants, and the environment. We’re making real estate smarter and more sustainable.”
The Future of Real Estate and EV Charging
As electric vehicles continue to dominate the roads, the demand for EV charging stations will only increase. Properties that invest in this technology now will be positioned to attract higher-value tenants, create new revenue streams, and boost property values.
For real estate owners, the future is clear: EV charging isn’t just an amenity—it’s a financial asset that will help shape the future of the market.
Hashtags for Optimization:
#EVChargingStations #RealEstateInvesting #NOI #Sustainability #Chargestar #ElectricVehicles #NetOperatingIncome #DIRTRealty #EVRevenueStreams #CommercialRealEstate #MultifamilyHousing #PropertyValue #SmartRealEstate #EVFuture #SustainableInvesting #PropertyManagement #EVChargingRevenue #FutureOfRealEstate #GreenBuildings
Comments