The real estate industry is on the verge of significant infrastructure improvements, driven by the rise of electric vehicles (EVs) and the U.S. government’s commitment to phasing out internal combustion engines by 2035. As EV ownership becomes more prevalent, property owners and managers must anticipate the growing demand for charging stations, a critical factor in the evolving landscape of real estate.

Adapting to technological advancements is not new for property managers, who have witnessed various infrastructure upgrades over the years. From telephone lines to fax machines, dial-up internet, Cat 5 wiring, Wi-Fi, and now 5G and fibre optics, each progression rendered previous technologies obsolete. The emergence of EVs marks another pivotal moment, requiring the real estate industry to integrate charging stations seamlessly into its assets.

Literature extols the social and environmental benefits of electric vehicles, particularly in reducing carbon emissions. However, despite the push from vendors offering diverse charging station designs and revenue models, many property managers remain sceptical about the advantages EV technology brings to their assets.

A recent survey at the University of Wisconsin-Stout revealed that property managers, though acknowledging the inevitability of EV technology, are not rushing to adopt it. The reasons for this reluctance vary, prompting a closer look at considerations for installing EV charging stations, encompassing infrastructure and technology, service and revenue models, management policy, and environmental, social, and governance (ESG) concerns.