The Direct Line survey also shows that some landlords (26%) are concerned about costs relating to the installation of an EV charging point, including future maintenance. Landlords are not legally required to complete an annual service on EV chargers, but if they do it can ensure safety and usability, as well as help extend the charger’s lifespan.
There are two grants available to landlords to help them purchase and install a charger for an electric vehicle in their property. The ‘electric vehicle charge point grant’ is worth either £350 or 75% off the cost to buy and install the charging facility.
For landlords with larger properties, the electric vehicle infrastructure grant is also available. The amount this grant covers depends on how many parking spaces the work will cover, with a maximum of £30,000 or 75% off the cost of the work. Both of these grants can be applied to the same property.
With the recent emphasis on sustainable and energy efficient housing and lifestyles, many property investors are now opting for new-build properties. It’s not uncommon for newly built properties to already have EV chargers installed for tenants to use, eliminating the need for owners to make upgrades themselves.
Read more about the UK property market with our guides covering areas such as Dewsbury buy-to-let and buy-to-lets in Merseyside.
