Charging as a Service: What Property Managers Should Know About EV CaaS

By
Oodles Energy
September 13, 2022

What if we told you that you could solve your EV driver residents' anxiety by adding a hands-off, turnkey amenity? We hear your ears perking up already!

Many EV drivers (and those who hope to drive them one day) are riddled with “charging anxiety.” They wonder where their next charge will come from and worry about whether or not their EV battery may run out of juice in the middle of a long haul.

To solve the stress–and encourage the adoption of electric vehicles–Charging as a Service is here to save the day. The growing EV CaaS market is still in its infancy, and there’s no better time than now to hop on Charging as a Service as an amenity to differentiate your multifamily property as a leader in resident satisfaction and sustainability.

What is EV CaaS (Charging as a Service)?

EV Charging as a Service, or EV CaaS, provides turnkey EV charging solutions without the burden of complete ownership like equipment maintenance, support and troubleshooting, and driver communication. In other words, EV CaaS is low-risk, outsourced EV charging with minimal upfront investment. 

However, not all EV CaaS providers are made equal. The right Charging as a Service partner will guide the equipment design and installation and manage the charging stations, software, driver support, and professional maintenance so building staff and property managers don’t have to. (Helpful hint: Oodles does all of this!)

The Benefits of Charging as a Service

If Charging as a Service sounds too good to be true, it’s not. EV charging business models like EV CaaS benefit properties in more ways than one. And if you choose the right EV charging partner to guide your property’s EV charging business model, you’ll experience a few of these perks:

  • No EV expertise is involved.
    There’s no need for prior EV experience or knowledge. Forget hours of researching and planning! EV CaaS providers manage the ins and outs of the technology.

  • Monthly revenue generation.
    Many EV charging business models provide ongoing revenue-sharing plans. When your residents charge up, you make money too with our revenue split pricing model. Connect with an Oodles expert now to learn more.

  • Hands-off support.
    Once the charger is installed, EV CaaS providers operate and maintain the equipment, provide 24/7 support, bill residents, and manage technical updates.

  • Resident satisfaction and retention.
    Your residents will be ecstatic to charge at their homes; they may never leave! Because EV CaaS is still new to the multifamily industry, residents may find it challenging to get the same amenity at other properties. 

What the Multifamily Industry Needs to Know about EV CaaS Demand

Electric vehicle sales doubled in the last year–even before the massive fuel price increase of 2022! There are more EVs on the road than ever before, and there aren’t enough chargers to meet the demand resulting in high costs for EV charging for those who don’t have private EV chargers installed at home.

Homeowners have the upper hand when it comes to installing EV chargers. Arguably the only roadblock for this group of EV drivers is the cost of purchasing and maintaining the EV charger itself. Unfortunately for renters without access to private garages, there are few convenient options for charging electric vehicles, causing frustration and empty batteries at the most inconvenient times.

Not only is the demand for EV chargers increasing, but the desire for more sustainable business practices is becoming increasingly more popular for younger generations, many of whom live in apartments, condos, and other multifamily properties. In fact, 75% of Gen Zs polled said sustainability was more important than brand name when making a purchase.

Investing in Charging as a Service at your multifamily property benefits your residents at home and the planet. Best of all, getting EV CaaS up and running at your property is easy with a charging partner like Oodles!

How Does Charging as a Service Work for Multifamily Properties?

Introducing Charging as a Service to your multifamily property is simple. With an EV charging partner like Oodles, you are able to scale revenue while making your residents’ lives easier. Here’s a quick overview of how it is done: 

  1. Your site is assessed to address property infrastructure and equipment needs. This is unique to each property and property needs vary from site to site. The EV CaaS provider reviews this information and recommends how many and what type of EV chargers would suit your property.

  2. Electricity and equipment are installed and activated on your property. A partner like Oodles can help guide your team in achieving a successful installation on your property! Once the EV chargers are operational, your responsibilities end.

  3. EV drivers can sign up for the service using an app once the chargers are up and running to start charging their vehicles. Your EV CaaS partner should manage all driver accounts, billing, and customer support. And, to ensure plugs are always up and running, the EV CaaS provider should also manage all equipment maintenance and technical support.

  4. Properties pay a subscription-based fee to the EV CaaS provider for the service and electricity usage. Residents pay the EV CaaS provider directly. Some EV charging business models split revenue between the property and the provider - this is optimal for properties looking to grow their NOI.

Multifamily properties have unique needs when making changes to their amenities, property, and workflow, and Charging as a Service was built to tackle these challenges. EV charging business models created with these in mind, like Oodles’ unique pricing model, are simple to execute because the objective of the service is to take the burden off of multifamily property management. 

  • Staff and Support Limitations
    Training property managers and office staff can be tricky and timely. Charging as a Service requires minimal ramp-up training for office staff since the EV CaaS provider manages all customer support, billing, and maintenance. Workflow won’t be disrupted, and there’s no need to add to your staff’s job responsibilities.

  • Cost Concerns
    Cost and return on investment are significant concerns when considering adding a new amenity to your property. After purchasing and installing the EV charger, your financial obligation becomes a predictable subscription cost.

  • Infrastructure Restrictions
    You may be concerned about the limited space available for EV chargers. Leave that to the creative and knowledgeable experts who recommend the best use of space for your property’s infrastructure–tackling what you need now and what you’ll need down the line.
  • Knowledge Limitations
    So you don’t know anything about the EV industry? Who cares! That’s what the charging provider is there for. You’re simply outsourcing all EV knowledge and driver support to your Charging as a Service provider.

Using an EV CaaS Provider for your Multifamily Property

Outsourcing a critical part of your residents' experience requires trust in your EV CaaS provider. Consider Oodles a partner–not a contractor–in your EV charging journey. We are tailored to the multifamily space, so we know all about the unique challenges property owners and managers face when offering a new amenity.

Our EV charging is tailored to multi-family properties and tackles your biggest concerns. With Charging as a Service from Oodles, you can count on us for reliable service, resident satisfaction, and much more.

  • Earn monthly revenue when residents charge up with our revenue-sharing pricing model.
  • Make your residents happy with convenient and affordable EV charging at home.
  • Plug in and go with a turnkey, hands-off solution for your staff.
  • Plan for recurring costs with a customized proposal that sets realistic expectations from the get-go.

If you’re ready to invest in Charging as a Service for your multifamily property, we’re prepared to help you take the next step. Call our expert team to schedule a free consultation and find out how EV CaaS will benefit your residents, your revenue, and your property.

Get in touch with our team today.

Curious what an EV charging solution could look like for your property? Schedule a call for a no-obligation consultation now.