Charging Stations: An Asset for Condos and Properties

With the growing popularity of electric vehicles (EVs), condominiums are increasingly faced with the issue of installing charging stations for their residents. What was once considered a luxury amenity is fast becoming a necessity to attract new owners and maintain property values.

Here are several reasons why installing charging stations in condominiums is a strategic long-term choice.

Meeting growing demand

More and more EV owners are looking for home charging solutions. For condominium managers, offering this service can meet a growing demand from current and future residents. Not having access to a charging station where they live can be a major disincentive for those considering acquiring an EV, or even for potential future buyers. It would therefore be to your advantage to make the switch now, and install charging stations in your parking lot to meet the growing and inevitable demand.

Attracting new residents

The installation of charging stations can be a decisive selling point for condominiums. EV buyers are looking for homes that allow them to recharge their vehicles easily, without having to go to a public charging station. By integrating this infrastructure, a condominium becomes more attractive to this type of consumer, improving not only unit occupancy, but also resident satisfaction. What’s more, going green is a plus for you and the image you project, as more and more people take the environment to heart!

Supporting the energy transition

Installing charging stations in a condominium isn’t just about satisfying immediate demand. It’s also a way of actively participating in the energy transition and promoting a more sustainable lifestyle. As an eco-responsible co-owner, you’re helping to reduce greenhouse gas emissions and encourage the adoption of greener modes of transport.

Subsidies make management easier

In several Canadian provinces, subsidies and financial incentives are available to help cover part of the cost of installing charging stations in multi-unit buildings. By taking advantage of these programs, condominiums can significantly reduce the initial investment, while improving their infrastructure and offering added value to residents. This is the case here in Quebec. We invite you to find out more, as it could be to your advantage!

Preparing for the future

The trend towards electrification of transport is inevitable, and recharging infrastructures will soon be a standard feature of modern homes. Installing charging stations now enables condominium owners to anticipate future needs and avoid potentially higher costs in the future. What’s more, it can increase condominium value in the long term, as future buyers will see it as standard equipment.

Challenges to overcome

However, installing bollards in a condominium can present challenges. It is important to consider the following aspects:

• Electrical capacity: It’s crucial to ensure that the condominium has an electrical infrastructure capable of supporting the bollards without affecting other services. We recommend that you contact a professional to assess this.
• Cost management: It’s important to decide whether costs will be shared by all co-owners, or only those who wish to install a charging station. In the case of apartments, it will be important to determine how to proceed from the outset: will the terminal belong to the resident, and therefore at his or her expense, or will it be provided by the building owner, at a cost?
• Condominium by-laws: By-law amendments may be required to govern the installation, maintenance and use of the bollards by residents. We advise you to pay close attention to these to avoid any confusion or misunderstanding that could lead to conflicts.

BEQ Technology, your reference for charging stations

Installing charging stations in condominiums is a strategic investment that offers benefits in terms of attractiveness, sustainability and long-term value. By taking into account the growing needs of EV owners and taking advantage of available subsidies, condominium managers and owners can position their buildings to meet the demands of electric mobility and remain competitive in the real estate market.

As a building owner, you may be wondering why you should install charging stations in condominiums. Whether it’s a rental building or a condo tower, more and more tenants are owning electric vehicles, and as you’ve read on, the benefits are many. So you should be asking yourself “when do I contact BEQ Technology?” rather than “should I install charging stations in my buildings?” Food for thought, as they say…