Landlords could pocket an extra £5,000 on their property’s value, well, that’s the claim from Quotezone.co.uk’s insurance whizzes. They reckon popping an electric vehicle charger on your rental could be an investment worth considering this year.
It’s all about staying ahead of the 2035 ban on new petrol and diesel cars.
Greg Wilson, Quotezone’s CEO and landlord insurance guru, is all for it. “We would encourage more landlords to start installing EV chargers at their properties, it’s a smart move to help future-proof their investment,” he said.
The pitch? It’s a double win. Tenants get cheap, easy charging—£13 at home versus £26 in public.
Landlords see their property’s appeal—and value—shoot up. “It’s also a win-win for both renters and landlords, tenants get convenient and cost-effective charging options, while landlords are able to increase the value of their property by up to £5,000,” Wilson added.
The National Association of Property Buyers backs this up. They say an EV charger could lift house value by £5,000.
Over 40% of the UK’s youngest drivers—aged 16-24—own electric wheels. With 74% of them renting, that’s a big crowd to woo.
“Having the option to charge an electric vehicle at home will serve as an attractive selling-point to prospective tenants,” Wilson noted.
“Interestingly, 40% of the UK’s youngest drivers have already opted for electric vehicles, ahead of the ban on the sale of new petrol and diesel cars – considering 74% of this 16–24-year-old age group rent, it’s a sensible investment for landlords.”
Costs? You might not even pay.
Some electricity firms fit chargers for free. Otherwise, it’s about £1,000 to buy and install.
Wilson’s tip? Shop around. “Providing these young EV drivers with rental options which cater to the needs of their vehicle is a great way to encourage and support efforts to reduce carbon emissions, entice new tenants, boost house price value and keep current tenants happy,” he said.
Just check with the council if cables cross a footpath—you might need a gully.
Oh, and one last nudge from Wilson.
“Just remember to keep insurance providers up to speed with any changes or upgrades to the property – invalid or outdated information can actually void insurance policies, leaving homeowners, renters or landlords unprotected,” he warned.