We are constantly looking for new, game-changing and innovative ways to raise the bar. Earlier this year, we’ve implemented electric vehicle (EV) charging stations at 14 properties. These EV chargers are a critical part of our long-term business strategy as a driver for other income.
“We know this program will be a huge success,” said CEO Bob Lloyd. “The bad news is we’ve done a bad job executing the rollout.”
Only 15 percent of the available EV charging parking spots are rented. It’s a problem we are committed to fixing.
Currently, the team at Excelsior & Grand in Minneapolis is leading the way, having rented three of their four available spots. Property manager Marie Almberg credits her team’s knowledge and understanding of the new tech to effectively selling this amenity to residents.
“We don’t stop talking about it,” said Marie. “Nine out of ten guest cards say parking is important to (the potential new resident), so for an extra $3 a day, they can get an assigned spot with unlimited charging controlled by an app on their phone.”
Before the stations were even installed at her property, Marie took it upon herself to walk the parking garages looking for electric vehicles. This allowed her and her team to proactively reach out to residents who would be interested.
“We were able to get one of those residents to rent an EV charging station right off the bat,” said Marie.
WATCH: Marie Almberg shares tips for selling EV charging stations
Moving forward, the teams with EV charging stations at their properties are living the Circle of Success by measuring results weekly. We’ve also launched a rental contest rewarding the associate who rents the most EV chargers with a $500 item off their wish list.
“Renting these stations is a key part of reaching our All In goals,” said partner and VP of training Ashley Smith. “Driving other income and increasing our monthly revenue will ultimately set us up to achieve NOI.”