As electric vehicles (EVs) become more common, residents are actively seeking communities that support sustainable living. For multifamily properties and HOAs, installing EV charging stations is no longer a luxury—it’s quickly becoming a necessity.

According to the NMHC/Grace Hill 2024 Renter Preferences Survey, 34% of renters want EV charging stations—a 7% increase since 2022. That number is expected to grow as EV ownership continues to rise.

But this isn’t just about keeping up with demand—it’s about creating long-term value for your property. Communities that embrace EV charging today will be better positioned to attract high-value residents, boost sustainability, and increase revenue tomorrow.

1. Attract High-Value, Eco-Conscious Renters

Today’s renters want more than just a place to live—they’re looking for communities that match their values. Sustainability and convenience are top priorities, and EV charging is quickly becoming a key amenity.

But here’s the real advantage: EV chargers may attract renters who are willing to pay more.

Quinn Eddins, Managing Director of Research and Analytics at Greystar, shared this insight during a 2024 Grace Hill seminar:

“Even if you potentially lose money on the EV chargers themselves…you may in the long run be maximizing revenue by including the EV charging stations in your property because you’re attracting those types of residents that will pay more for other things.”

These renters tend to be less price-sensitive, more likely to accept rent increases, and more inclined to pay for other premium amenities.

2. Stay Competitive in a Rapidly Changing Market

More than 2 million electric and hybrid-electric vehicles were purchased in 2023—and that number will only climb. Offering EV charging today is an opportunity to differentiate your property before it becomes a standard expectation.

Communities without charging infrastructure risk falling behind. Those that adapt now will stand out as forward-thinking, future-ready places to live.

3. Affordable and Scalable EV Charging with Pando Electric

We understand the concern: isn’t EV charging expensive to install?

That’s where Pando Electric comes in—our trusted integration partner at Parking Boss. Pando’s EV charging solution is one of the most cost-effective options for multifamily properties:

• Uses existing infrastructure to avoid major electrical upgrades
  
• Scales easily—a single branch circuit can support up to five charging stations
  
• Reduces installation costs significantly (saving thousands of dollars!)
  

Best of all, many states and municipalities offer rebates to help cover installation, making this upgrade even more affordable.

4. Strengthen Your Sustainability Profile

Adding EV chargers to your property doesn’t just attract green-minded renters—it also enhances your community’s sustainability profile.

This can:

• Support ESG goals
  
• Help meet local and state green building requirements
  
• Improve your property’s reputation in a competitive market
  

5. Manage EV Charging Seamlessly with Parking Boss

We’ve made managing EV charging simple and intuitive by integrating with Pando Electric. With Parking Boss, you can:

✅ Assign EV charging spaces to specific residents
✅ Tap to charge using our NFC-enabled Boss Tags
✅ Track usage and manage spaces in the same platform you use for parking

Our combined solution offers:

• Cost-effective installations with minimal disruption
  
• Resident-friendly technology that makes charging easy
  
• Smart energy distribution to balance electric load across all stations
  

Residents enjoy the convenience of a dedicated space where they can reliably charge overnight—no guessing, no waiting.

The Bottom Line: Future-Proof Your Property

Adding EV charging stations to your multifamily or HOA community is about more than today’s needs—it’s a long-term investment in your property’s success.

By installing charging stations now, you can:

• Attract premium, sustainability-minded renters
  
• Stay competitive as demand continues to rise
  
• Strengthen your brand as a modern, future-ready community
  

Ready to Bring EV Charging to Your Community?

Parking Boss and Pando Electric are here to help you build a smart, affordable, and scalable EV charging strategy.

👉 Schedule a demo today and let’s explore the best solution for your property!