New Business Model Aims to Accelerate Multifamily EV Charger Installations

The Growing Demand for EV Chargers in Multifamily Properties

Over the past five years, multifamily property owners have been facing an increasing challenge: addressing the rising popularity of electric vehicles (EVs) and meeting tenants' expectations for convenient charging solutions at home. As EV adoption continues to grow, residents are prioritizing properties that offer accessible and reliable charging options.

According to industry data, electric vehicle adoption has been rising significantly, with EVs accounting for approximately 8% of all vehicle sales in the U.S. in 2024. However, only 5% of multifamily buildings currently offer EV charging stations, leaving a significant gap in the market.

To address this challenge, CBRE’s EV Charging Solutions and 3V Infrastructure have announced a partnership to accelerate the installation of EV chargers at multifamily properties. Their innovative business model removes upfront costs for property owners, making it easier to deploy charging solutions at scale.

A Cost-Free Solution for Property Owners

The new business model removes financial barriers for multifamily property owners by eliminating upfront and monthly costs. Instead, the companies provide planning, equipment, and installation, recouping their investment through tenant charging fees. This approach offers several advantages:

• No Upfront Costs – Property owners don't have to bear the financial burden of purchasing and installing EV chargers.
• Seamless Installation & Planning – CBRE and 3V Infrastructure use advanced software to predict demand and determine optimal charging locations.
• Shared-Use Model – Chargers are accessible to all tenants rather than being assigned to individual residents.
• Revenue-Sharing Opportunity – Once installation costs are recouped (typically within two to six years), property owners can receive a share of tenant charging revenue.
• Increased Property Value & Tenant Retention – Offering EV chargers can attract more tenants and encourage existing ones to stay longer.

Why Multifamily Properties Are the Focus

Multifamily properties are a key area for EV charger expansion because a third of the U.S. population lives in apartments. While EV penetration is currently around 10%, demand for chargers will continue to grow as more people transition to electric vehicles.

"Even if EV adoption rates vary, it’s still an amenity that residents value," says Aubrey Gunnels, CEO of 3V Infrastructure. "The challenge is figuring out how to implement it quickly and effectively."

Overcoming Past EV Charging Challenges

One of the primary concerns for property owners is ensuring that EV chargers remain functional and supported over time. In the past, many property owners invested in charging stations only to encounter the following issues:

• Unsupported Equipment – Some chargers were installed without long-term support, leading to failures.
• Lack of Proper Maintenance – Many chargers stopped working due to insufficient upkeep.
• Poor Network Connectivity – Chargers that failed to communicate with payment or monitoring systems became unusable.
• Stranded Assets – Approximately 10% of chargers in large property portfolios were found to be broken or non-functional due to vendor shutdowns or technical failures.

“We’ve had the opportunity to learn from past mistakes in the EV charging industry,” says Gunnels. “Our approach ensures that property owners receive high-quality, well-maintained chargers backed by a reliable network.”

Planning for Future EV Demand

To maximize efficiency, CBRE’s EV Charging Solutions employs advanced software to analyze a property’s current and future charging needs. This data-driven approach helps determine optimal charger placement, avoiding issues related to power availability and accessibility.

Mark Kerstens, VP of EV Charging Solutions at CBRE, emphasizes the importance of proactive planning. “Eighty percent of EV owners charge their vehicles at home. Our role is to help property owners implement smart, scalable solutions that meet tenant expectations both now and in the future.”

The Long-Term Benefits of EV Charger Installation

For property owners still hesitant about investing in EV charging infrastructure, the benefits are clear:

• Increased Tenant Attraction & Retention – Properties with EV chargers appeal to a growing demographic of environmentally conscious renters.
• Future-Proofing Real Estate Investments – As EV adoption increases, properties without chargers may struggle to remain competitive.
• Revenue Generation – After the initial payback period, property owners can benefit from revenue-sharing agreements.
• Sustainability & Compliance – Installing EV chargers aligns with sustainability initiatives and may help properties comply with emerging regulations.

Frequently Asked Questions (FAQs)

1. How much does it cost property owners to install EV chargers? Property owners do not have to pay any upfront or monthly fees under this new business model. CBRE and 3V Infrastructure cover the costs and recover their investment through tenant charging fees.

2. How long does it take for the investment to pay off? The payback period varies depending on factors such as charger usage and property location. Typically, it ranges from two to six years, after which property owners may start receiving a share of the revenue.

3. What happens if the chargers stop working? The partnership ensures ongoing maintenance and support, preventing the common issues that have led to stranded assets in the past.

4. Are the chargers dedicated to specific tenants, or are they shared? The chargers are designed for shared use among residents, ensuring accessibility for multiple EV owners within the property.

5. How do tenants pay for charging their vehicles? Tenants pay a usage fee, which is managed through a networked system that tracks energy consumption and billing automatically.

Conclusion

As electric vehicle adoption continues to rise, multifamily property owners must adapt to meet tenant demand for convenient charging solutions. The partnership between CBRE and 3V Infrastructure presents an innovative, risk-free opportunity for property owners to implement EV chargers without upfront costs. By eliminating financial barriers, ensuring proper maintenance, and leveraging data-driven planning, this model accelerates the adoption of EV charging infrastructure in multifamily properties.

For property owners looking to future-proof their investments and attract environmentally conscious tenants, this approach offers a compelling and practical solution. With continued advancements in EV technology and infrastructure, the real estate industry stands to benefit from embracing sustainable, tenant-focused amenities.

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