Why You (Literally) Can't Afford to Wait
Apr 6, 2025
Many owners and managers have told me variations of the same thing: “We’ll get around to EV charging when the demand is stronger.” Here’s the problem—by the time that demand is “obvious,” it's already too late.
Limited power availability. If all nearby competitive buildings have EV charging at scale, your building might be able to get any more for a long time.
Higher opex. Insurance, property taxes, utilities, and payroll are all rising faster than rent growth in most markets. That pressure leaves little room for inefficiencies. EV charging can offset some of that pain by creating new revenue streams (charging fees, higher rents, or improved tenant retention).
EV adoption is moving faster than the infrastructure to support it. Right now, cars are outpacing chargers by a ratio of 2:1. That means if you’re waiting until “everyone” has an EV, you’ve already lost EV tenants to properties down the street that moved faster.
Delaying makes later install more expensive. Inflation, labor shortages, and building retrofits are not going to get cheaper with time. A dollar spent today on electrical work is worth more than that same dollar spent two years from now.
Once charging becomes the norm (like high speed internet), it’s too late to differentiate. Residents won’t thank you for installing chargers after everyone else has—because they've already left for a building that has it.
Here’s the blunt truth: waiting doesn’t preserve your capital, it weakens it. Every month without charging is lost economic opportunity, lower competitiveness, and higher capital expenses down the line.
