This is a guest post by OK2Charge, a powerful electric vehicle charging solution for short-term rentals.
The Electric Vehicle (EV) market is growing faster than anyone anticipated. In the US alone we can see a promising trend toward electric vehicle adoption, with an overall average sales share of 7.07%.
Why does this matter to short-term rental managers?
According to a recent Expedia study, 90% of respondents look for sustainable options when traveling, and more than half of respondents would be willing to pay more for more sustainable transportation, activity, and lodging options. Travelers are increasingly seeking sustainable options, and to meet the rising demand Hertz has made a bold commitment – they plan to purchase up to 175,000 electric vehicles from General Motors in the next five years. This move shows that more environmentally conscious travelers can make their vacation decisions with confidence as progress toward sustainable options continues.
How does adding EV Charging benefit short-term rental property managers?
Adding EV charging to your properties and going green is an excellent opportunity to attract more environmentally conscious guests. And with climate change becoming an increasingly dire issue, more and more travelers are seeking more sustainable options. Using eco-friendly products and introducing EV charging stations allows potential guests to choose a more sustainable accommodation option.
When you add EV Charging to your property, you will:
- Stand out from the competition and increase bookings by offering something that not everyone does
- Add a new revenue stream by setting a fee (either per kilowatt or setting a daily rate) for usage of the EV charging
- Add an eco-friendly amenity to your property
- Attract environmentally conscious guests
Installing EV Charging could easily bring you more business without spending too much money on hardware and installation costs. For example, we recently heard from a property manager who lost out on $2500 worth of profits because they didn’t have an EV charging station – enough to cover any additional investment put into setting up their own system.
How will your guests benefit?
EV charging stations are the perfect addition to any vacation rental listing. What better way to show your guests you care about their needs than by offering them a fast, hassle-free charge in less than a few hours? Your investment today means that all drivers of electric vehicles have access to unparalleled convenience and ease when staying at your location.
Looking for more ways to make your short-term rental eco-friendly? Check out these 8 Ways to Make Your Vacation Rental More Eco-Friendly.
Guests will be able to:
- Enjoy rapid EV recharging at your destination
- Remotely control their chargers and get smart status updates
- Recharge while they relax – not in a parking lot while vacationing
To conclude
Going green is an investment that pays off. EV chargers can be highly profitable investments, as they have the potential to boost your property’s average daily rate (ADR) by 12%. By capitalizing on people’s need for charging while they’re away from home, businesses open up a new revenue stream that could make all the difference. With electric vehicles becoming increasingly popular, investing in this technology could be the difference between success and stagnation.
Looking for more ways to make your property management business sustainable? Check out our blog post on 8 Ways to Go Green With Your Vacation Rentals.
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