Should Your Short-Term Rental Include Electric Vehicle Charging?

According to globenewswire, the Electric Vehicle Charging Station market size was worth around US$ 18.22 billion in 2021 and is estimated to hit approximately US$ 115 billion by 2028. And vacation rental hosts are starting to hear from guests about the need for it.

As overnight is the most convenient time for electric vehicle charging, most guests with electric vehicles filter their search for rentals with rapid charging facilities. EV chargers are becoming an essential amenity for vacation rental properties, regardless of whether they are advertised on Airbnb, Vrbo, Booking.com, or any other vacation rental platform.

The purpose of today's blog is to discuss the importance of including an EV charging station at your vacation rental property, as well as what the pros and cons are, and who can provide these services.

Is adding electric vehicle charging to your short-term rental is a good idea?

A positive guest experience is one of the most important factors affecting guest sentiment, loyalty, and satisfaction. Moreover, an exceptional guest experience can bestow significant competitive advantages upon short-term rentals, resulting in profitability and accelerated growth.

As more people switch to electric vehicles, charging infrastructure will become increasingly important. Therefore, short-term rentals should include charging options for electric vehicles. In addition, charging options for electric vehicles can attract environmentally conscious guests and prioritize sustainable transportation. A study by Bloomberg New Energy Finance predicts that by 2040, 70% of new passenger models worldwide will be zero-emission vehicles.

Several factors will influence the decision to include electric vehicle charging, including the rental location and the demand for electric vehicle charging. It may be more important to provide charging options if the rental is located in an area with a high concentration of electric vehicles. If the rental is located in an area with little demand for electric vehicle charging, providing charging options may be less important.

Can property managers of short-term rentals benefit from this?

The addition of EV chargers to short-term rental listings can be beneficial for property managers. In light of the increasing popularity of electric vehicles, providing EV charging options can attract eco-conscious travelers seeking convenient and sustainable accommodations. Additionally, it could increase the value of the property and attract more bookings from electric vehicle owners with charging needs.

From June to December 2021, Airbnb recorded more than 500,000 searches for electric vehicle charging capabilities. With Airbnb's sustainable travel mission, guests can search for electric vehicle charging capabilities when looking for lodging. Therefore, installing EV chargers can give property managers a competitive advantage over other short-term rental listings that do not offer this feature, resulting in higher occupancy rates.

It's worth noting that installing EV chargers can require a significant upfront investment, so property managers should carefully evaluate the potential return on investment before making the decision to add this feature. Additionally, researching local regulations and requirements for EV charger installation and the demand for this feature is essential.

What are the benefits of adding EV charging to short-term rental properties?

EV charging is becoming a deciding factor for many travelers. If hosts wish to remain competitive in the market, they must not just keep up with, but also stay ahead of this trend. When guests travel by electric vehicle while on vacation or business, free or even paid EV charging can be a major convenience. It is advantageous to offer EV charging as an amenity in your vacation rental since most guests filter their searches to include this feature.

Consider sprucing up your outdoor area if your Airbnb has one.

Will your guests have a positive experience with EV Charging?

Your guests will appreciate your concern for them by getting a fast, hassle-free charge that takes less than a few hours to complete. Your vacation rental will be able to provide unparalleled convenience and ease to all drivers of electric vehicles when you install an EV fast charging station.

Guest Benefits

• Rapid EV charging at your destination
• Easily control their chargers and stay up-to-date on their status
• The ability to recharge their vehicles while they relax on vacation - hassle-free!

Which electric charging companies are available to hosts?

Ok2charge

Ok2Charge is a company that specializes in providing electric vehicle (EV) charging solutions for various industries, including hospitality, retail, workplace, and residential. They offer a range of EV charging products, including wall-mounted and freestanding charging stations, designed to meet the needs of both EV drivers and property owners.

They offer fast charging capabilities for all EV models and are compatible with all EV models. The Ok2Charge management platform also provides property managers with real-time data on their charging stations, remote access, payment processing, and a cloud-based management platform.

EV charging capabilities have made Ok2Charge a popular choice for property managers looking to add EV charging capabilities to their short-term rental listings thanks to their focus on flexibility and scalability. Property managers can increase the value of their rental property by providing EV charging as an amenity.

Ok2charge integrates with Hostaway via API and these are some of the key features of the product

• Automated EV charging
• PMS-integrated automation
• Variable guest pricing
• Energy reporting
• Profit reporting
• EV charging user access controls
• Enterprise EV charging solution
• Mobile web app
• Secure payments
• Property manager branded guest communication

To learn how you can connect with OK2charge if you are a Hosyaway user, click here.

Find out how Hostaway can fit your property management business and improve your success. Contact us today to arrange a demo call with one of our product experts.