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  • What are the benefits of working with REVS?
    Save Money: We offer our clients the opportunity to allow us to install and manage EV charging stations on their property or portfolio level with absolutely no financial obligations on the property ownership. Save Time: Let one company handle all facets of your property’s EV charging needs. Our turnkey solution provides you with all the services you need. We will take care of financial incentive applications, RFPs, charging station installation, maintenance and management.
  • What differentiates REVS from other EV charging companies?
    Most businesses in the EV charging industry are owned and managed by electricians, people from the automobile industry, and other technology related fields. REVS is among the few, if not the only, EV charging company in the U.S. run by real estate professionals. Our company has over 70 years of experience in the multifamily industry and an in-house electrical team knowledgeable in all aspects of the EV charging sector. Our unique combination of expertise in both industries enables us to deliver the most cost-efficient EV charging solution tailored to a single multifamily property or a portfolio-level need. You can avoid potential issues down the road and have peace of mind knowing that your EV charging needs are in capable hands.
  • Why select REVS over a manufacturer?
    The manufacturer has two objectives, 1) sell or install as many charging stations as possible and 2) sign up as many ports as possible to pay their network fees. REVS interests are completely aligned with the property owner as we participate in the profits of the charging stations, as either a manager or owner. As REVS success is tied to the profits of the charging stations, whether owned or managed.
  • How do our services differentiate from a manufacturer?
    Each manufacturer provides different services that may or may not include, handling grants, handling the make ready installations, paying for electrical upgrade, filing for CARB credits, where available. REVS is full service from planning, to filing for grants, to installing, in many cases paying for electrical upgrade, setting rates, filing for CARB credits, monitoring usage for potential expansion. REVS is constantly searching the market for products that will make the ownership and management of EV charging stations profitable for the property and enjoyable use for the property’s residents. We are not tied to one manufacturers products.
  • What are the benefits of installing EV charging stations in multifamily properties?
    Here are a few of the top benefits of having EV charging stations on your multifamily property: Remain Competitive: Having charging stations on your multifamily property helps you remain competitive. EV owners want to be able to charge their car at home, so having them already available is a great way to keep your current residents happy and attract new ones who also own electric vehicles. As the EV adoption rate grows, residents will either look to purchase their own home, or move to another community that offers the convenience of charging their vehicle on site. Attract New Residents & Retain Current Residents: According to MultiFamily Executive Magazine, more than 58 percent of renters are willing to pay more to live in a community with EV charging stations on site. While a single-family homeowner can modify their garage to charge their car, multifamily residents don’t have that option. The inconvenience and stress associated with not knowing when and where to charge will impact where a resident will choose to live. Financial Incentives for Early Adopters: Property owners can apply for various financial incentives from federal funding programs to utility providers to reduce the cost of installation. However, many grants and rebates are awarded on a first-come, first-served basis. Generate Additional Revenue: EV charging stations offer property owners the opportunity to generate a new source of revenue. Similar to gas stations, you can set billing rates on the stations to charge the user a premium cost over the property’s cost of electricity.
  • How many EV charging stations should a multifamily property have?
    Looking to the future when full EV adoption has occurred, a good rule of thumb is having an EV charging station count equivalent to 10% of the total parking spaces. Today, every multifamily property should have no less than two charging stations coupled with a comprehensive plan to grow the number of stations as EV adoption occurs over time. REVS can analyze your property level demographics and infrastructure to develop both a near team and long term plan to address the resident needs.
  • What type of EV charging stations are suitable for multifamily properties?
    A Level 2 EV charging station is best suited for a multifamily property. Here’s why: Not too slow: With a Level 2 charger, an average electric vehicle can be fully charged in 8 hours or less allowing residents to charge their vehicle overnight. Level 1 stations are cheaper, but have the slowest charge rate of 2 to 5 miles per hour which is not ideal for residents who drive more than 20 miles a day. Not too expensive: Level 2 stations are a fraction of the cost to purchase and install when compared to Level 3 stations. Although Level 3 charging stations are the fastest available, the infrastructure needed to support these stations would increase the installation cost by almost ten times. Fastest way to get an ROI: Level 1 stations would take too long make a return - Level 3 stations cost too much to make a return.
  • How do I know if my property is able to host EV charging stations?
    The property’s existing electric infrastructure will determine if there is adequate electrical capacity to support EV charging stations. An EV charging due diligence report can be conducted to understand the property's electrical infrastructure and its ability to host EV charging stations.
  • I have multiple properties that need EV charging stations. Is there a way to prioritize which to address first?
    REVS can address both individual property needs and develop portfolio level strategies for installing EV charging stations. There are many factors involved and often many decision makers within the ownership structure who weigh in. REVS can provide guidance and expertise to facilitate informed decisions at every level of the process.
  • Is installing Electric Vehicle (EV) charging stations for my property necessary?
    Nearly every major car company has announced certain dates when they’re going to stop developing internal-combustion engines, most between 2030 and 2040. Some have already stopped. Properties that do not offer EV charging will be hard hit with increased turnover and vacancy loss. Some already are. EV charging is no longer an amenity, it is a necessity. In addition, the revenue generated from the charging stations can be accretive to the property NOI.
  • What are some questions to ask myself when looking to deploy EV charging stations on my property?
    What are your goals in putting up an EV charging station? Do you have any knowledge or experience in putting these up? Any preference in products? 100 amp or 40 amp? How the user interfaces with charging station - network or open? Own or not own? Are ESG initiates important? Do you want to manage the stations in house or outsource it?
  • What’s inside an EV charging due diligence report?
    Our EV charging due diligence report includes an analysis of the existing electrical infrastructure, electrical upgrade recommendations, EV charging station deployment recommendations, an estimate of make-ready and installation costs, and a potential ROI analysis calculator. REVS will also search for available financial incentives the property may be eligible for to alleviate the deployment cost.
  • What if I do not have the capital in my annual operating budget to purchase an EV charging station?
    Let REVS evaluate your specific property to determine your options. There may be grants and subsidies available to substantially offset the cost and many utilities have mandates to contribute electrical infrastructure upgrades to grow the charger market. Additionally, most lenders will allow funding out of capital improvement escrow accounts to establish EV charging stations.
  • How do I start the process of installing electric car charging stations in my apartment building or condo?
    Call or email REVS with your site address, site contact and we will schedule a site survey at your earliest convenience.
  • What financial options are offered by REVS versus a manufacturer?
    Most manufacturers do not offer capital for upgrading the property’s electrical infrastructure. REVS provides capital for existing properties to upgrade their electrical infrastructure to host EV charging stations.
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