Multifamily EV Charging: Considerations for Property Managers

If you're reading this, that means you're ready to tap into the rapidly growing EV market and boost your property's appeal. Investing in an EV charging network for your multifamily property can improve your property value and help attract and keep residents. This guide outlines key considerations for a successful EV charging solution, including electrical capacity, product choices, and installation costs

Benefits of EV Charging for Multifamily Properties

Multifamily EV charging solutions offer many short and long-term benefits:

• Enhancing resident attraction and retention: EV charging stations open your multifamily building up to EV owners, an ever-expanding demographic. Potential residents may be more interested in your unit and paid parking spaces if you have available stations, and current residents may be more willing to stay. 
• Increasing property value: Access to multifamily EV charging stations can raise your property value in the eyes of stakeholders and potential buyers. 
• Promoting sustainability initiatives: Promoting electric vehicle usage and making charging stations more accessible reduces emissions and your property's carbon footprint. Certification in Energy Star, Leadership in Energy and Environmental Design (LEED), or other sustainability programs can also attract more eco-conscious residents. 

EV Charger Installation Considerations

Consider the following factors to make choosing the right provider for EV charging stations for multifamily buildings easier. 

1. Assessing Electrical Capacity

Start by comparing each charger's energy needs with your property's total amperage capacity, usually found on your electrical panel. You typically can accommodate Level 1 or Level 2 chargers within your existing capacity.

For multifamily settings, reliable access to charging is often more important than speed. While Level 1 chargers use less power, Orange Level 2 chargers offer a balance of speed and electrical demand, providing convenient overnight charging for most residents. If you anticipate high demand, electrical service upgrades can power more chargers and prevent outages. This investment allows you to offer attractive charging options that meet resident needs as EV adoption grows.

2. Determining Installation Costs

Multifamily EV charging installations range from $1,000 upwards, with larger upgrades costing $3,000 or more. Take steps to manage these costs effectively. Partnering with an experienced electrician can help you analyze costs and make informed decisions.

Key cost factors include:

• Parking space locations: Charging stations further from your property's current power grid will cost more to set up.
• Incentive Programs: There are local and utility-backed incentives designed to help properties like yours install lower-power EV charging by covering some or all of upfront costs. To take full advantage of these opportunities, it's crucial to partner with a provider who has a track record with local incentives.‍
• Building codes and requirements: To avoid added expenses and delays, be proactive and address local regulations, permits, and fees before moving forward with projects.

3. Planning for Long-Term EV Infrastructure Success

Forward-thinking is the way to go when it comes to upgrades, especially for your electrical infrastructure. Invest in safe, energy-efficient, and durable EV charging products to minimize future replacements. Research EV charging providers' customer reviews or consult with professionals for expert advice and guidance.

When considering your charging options, opting for right-sized, Orange's Level 1 and Level 2 charging outlets offer key advantages for multifamily properties. They minimize strain on your existing electrical grid, allowing you to scale charging capacity as resident demand increases without major electrical overhauls.

To maximize your ROI, offer a mix of Level 1 and Level 2 solutions. Orange Level 1 outlets cover resident basics, and strategically placed Orange Level 2 EVSE chargers cover guests and visitors. This combination, enhanced by Orange's smart energy metering, provides visitor convenience and detailed energy insights for efficient cost recovery.

4. Understanding EV Charging Levels for Multifamily

Multifamily EV charging solutions utilize three levels:

• Level 1: The most affordable station that use standard 120-volt three-prong outlets. They charge about 60 miles worth of range overnight, which meets 98% of drivers needs.
• Level 2: These medium-tier stations require 240-volt circuits and offer a faster charging speed, adding 150 miles worth of range overnight.
• Level 3: Direct-circuit Fast Chargers (DCFC) charging stations connect directly to the power grid and can almost fully charge a vehicle in under an hour. While excellent for public spaces like shopping centers or travel stops where drivers need a quick turnaround, they're generally more costly to install and may not be the most practical or necessary for typical multifamily residential use where vehicles are often parked for 10+ hours.

5. Choosing the Right Hardware and Integrated Software

Maximize your upgrade's longevity and generate consistent revenue by investing in reliable, reputable EV charging products. Carefully evaluate EV charging solutions, considering both the physical hardware and the software capabilities.

For efficient EV charging management, Orange's integrated software platform, OrangeOS, is essential. OrangeOS provides tools to set energy costs, control charger access, automate payment processing, and generate insightful utilization reports, streamlining operations for your on-site team and boosting resident retention through user-friendly access.

Investing in Your Property's Future: Sustainability & ROI

Make informed decisions for long-term ROI by offering easy access to EV charging. This amenity not only attracts and retains residents, boosts your property's value, but also positions you as a forward-thinking leader in sustainability. Partner with experienced professionals like Orange, whose scalable solutions adapt to changing demand, ensuring your investment pays off quicker than other solutions.

Staying Informed on Industry Trends

To make informed decisions about your charging infrastructure, track local EV adoption rates. National EV sales reached 8.1% of all new car sales in 2024 (Cox Automotive), but local demand can vary. Strategically adding the right number of EV chargers ensures you meet resident needs without overspending, protecting your ROI.

Orange Has It All

Orange has re-engineered EV charging to meet properties’ needs today, with affordable hardware that’s simple to install, easy to manage, and designed to scale as EV adoption grows. Our solution turns EV charging from a cost center into a long-term revenue stream, no upgrades, no headaches, and the lowest total cost of ownership in the market. Ready to future-proof your property and grow NOI in the process? Contact Orange today to get in touch with one of our specialists. 

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