October 2, 2024

Promoting PropTech and Multifamily EV Charging: A Guide for Engaging Prospects and Residents

7 Min. Read

PropTech, or property technology, is revolutionizing the multifamily property industry by delivering seamless technology-fueled experiences for tenants, streamlining property management, and optimizing costs. At the cutting intersection of real estate and technology, this innovative approach leverages technology to drive growth and increase convenience for property managers and residents.

Similarly, the shift toward electrification is also helping property managers meet the demands of tech-savvy and sustainability-focused tenants. By aligning your electrification efforts with your PropTech tools, you can effectively position your property as a leader in a modern, eco-conscious market.

PropTech is a larger, all-encompassing term that can, and should, include electrification technologies to make the most of your business and further drive the value of your community.

In this article, we will discuss how to integrate electrification into your PropTech strategy and explore how electrification solutions can create value for your property and tenants.

Electrification Benefits for Multifamily Properties

Electrification is a global trend that aims to replace fossil fuels with electricity. While there are many reasons consumers and businesses alike are looking to integrate electrification technologies into their lives and business strategies, increased sustainability, efficiency, and cost-effectiveness are at the forefront of driving this movement.

The two main areas centering this movement are the electrification of buildings and transportation. Both are scaling rapidly, and experts believe as many as 60 to 70% of U.S. cars could be electric by 2050.

The benefits of electrification for multifamily properties include energy savings, better air quality, and a sustainable lifestyle for tenants. Plus, electrification can make energy costs more predictable and manageable, while rebates and incentives for electrification technologies can contribute to lower upfront costs, and some technologies, such as EV charging, can also introduce a new revenue stream.

Marketing Electrification and PropTech to Prospective Tenants

Convenient experiences such as automated rent payments, better communication, and enhanced security are perks properties with strong PropTech strategies can offer.

Combining the use of PropTech with electrification updates can be a differentiator for your multifamily property helping to drive business and add value to your community.

Highlighting key electrification features and communicating about them effectively will help attract prospective tenants and ensure your current residents are aware of and can fully appreciate the benefit of your community’s features.

Highlighting Key Multifamily Electrification Features

To showcase the impact of PropTech combined with electrification, connect multifamily electrification features to specific benefits for tenants:

• Onsite EV charging combines a convenient parking experience with affordable charging. Compared to driving a gas-powered car, tenants could save $100 per month on average!
• With heating and cooling representing more than 40% of energy-related carbon dioxide emissions globally, electric HVAC solutions can create a more sustainable lifestyle and help lower utility costs for your residents.
• Smart panels, load-shedding devices, solar panels, and home batteries are also valuable upgrades. They can give tenants more control over power consumption. Plus, battery storage during outages and cheap solar power can be a draw for those who can’t afford disruptions to their work and life.
• EnergyStar appliances, smart thermostats, and heat pump water heaters can create a comfortable experience and lower bills.

Crafting Your Message and Marketing Strategy

Tenants might have varying levels of interest in and familiarity with electrification technologies, so you’ll want to craft your message to account for these differences.

Given that 78% of consumers prioritize eco-friendly lifestyles, emphasizing sustainability is an effective strategy. Highlighting how your multifamily property combines different electrification technologies to reduce the property’s environmental footprint not only aligns with these values but also demonstrates your company’s commitment to ESG in action.

Communicating about cost savings is another powerful argument. For example, when you explain that a heat pump can slash energy costs by 31%–47% for a single-unit home, it shows how savings will contribute to substantial savings for your residents over time.

This approach effectively showcases the collective financial benefits of enhancing your property’s efficiency and by providing examples of these savings for your residents and future tenants, they can further see the value of being a part of your community.

Throughout your messaging strategy, it is also important to position your property as an innovative leader. This approach will get tenants excited about joining a movement for a more sustainable future and living with the modern conveniences these technologies can provide.

Use the Right Communication Channels

You should reach out to new and prospective tenants and communicate about your electrification efforts through the following media channels:

• Update your website to reflect a property branding strategy that emphasizes sustainability. Create virtual tours or virtual interactive experiences that showcase electrification features.
• Share your electrification journey on social media with posts, videos, and testimonials.
• Target users interested in sustainable living via an email marketing campaign that takes an in-depth look at your property’s upgrades.
• In-person tours will allow prospective tenants to see these technologies in action and ask questions.

Engaging Current Residents

Electrification upgrades create significant change, and they will likely lead to tenant questions and concerns. Your communication strategy should foster accountability and transparency, while also creating a sense of community around these initiatives.

Keep in mind that adding these technologies can mean construction and addressing these concerns head-on by providing both a clear explanation of what residents can expect during renovation as well as the benefits they will enjoy once the renovations are completed is critical.

Pre-Construction Communication

Before a project begins, provide information about the scope, timeline, and benefits as well as potential disruptions to your residents, as well as an avenue for residents to direct any additional questions or feedback they may have.

If possible, get tenants involved. By listening to their suggestions for improvements they would like to see and assessing interest in property amenities such as apartment EV charging, you will not only have the opportunity to further enhance your electrification plan but also to foster a stronger sense of community within your property.

During Construction

Keep tenants up to date on the latest upgrades and expected completion dates and provide alternate accommodations and additional support if there are extensive disruptions. Be clear about how investing in electrification might affect the rent or property leasing strategy, but again communicate the benefits of making these investments.

Delays may happen, and it’s important to provide professionalism and transparency in your communications so residents are invested in the success of the project and don’t feel deceived or misled by changing timelines.

Post-Construction Benefits

Completing an electrification project is an opportunity to celebrate as a community and reiterate the benefits of the upgrades. Thank tenants for their patience by offering an incentive such as a discount on their rent or a free month of multifamily EV charging.

Once an amenity is opened, consider hosting an event or grand opening celebration to further highlight the new community amenities if they are a shared amenity such as upgrades in the clubhouse or centralized EV charging stations, or by offering a smaller, more personalized gift if the new technology is inside their home such as an energy-efficient thermostat, smart electrical panel, or heat pump.

Messaging Strategies for Current Residents

Existing PropTech communication channels will help you create awareness about the benefits of electrification throughout each phase of the project. You can also use these strategies:

• Illustrating the benefits of multifamily electrification with facts and data as well as testimonials from other residents or case studies with projected savings.
• While digital channels are convenient, face-to-face interaction matters. You can organize community meetings and Q&A sessions to foster community and ensure everyone is informed and invested in the success of the project.
• Provide frequent updates via your newsletter.
• Add a dedicated page with updates to your website or via your PropTech tenant portal.

Your Property Needs the Right Electrification Partner

By implementing PropTech and electrification upgrades, multifamily property managers can offer a modern, efficient living experience that meets the ever-changing needs of today’s tenants.

The key to a successful electrification transition is to keep tenants engaged and effectively communicate the benefits. You can position electrification as a differentiating feature of your property to help attract new residents in a competitive market.

Having the right electrification partner by your side can help you unlock all these benefits, while also ensuring your project is safe, efficient, and successful.

As a multifamily property owner or manager, installing EV charging stations can help increase your revenue and the marketability of your community. Of course, EV charger downtime, installation delays, or hiring an unqualified or unprofessional electrician can result in a loss in profit and damages to your property and your reputation.

When it comes to hiring a quality electrician with EV charger installation experience, Qmerit makes it easy. With coast-to-coast coverage, turnkey solutions that streamline your project, and the largest network of certified electrical contractors in North America, we’ve built our reputation on providing the highest level of quality and service—making electrification easy.

And with over 450,000 EV charging stations installed and an industry-leading customer satisfaction record, no one is more experienced or qualified than Qmerit’s network of electrical contractors. Contact Qmerit today for seamless multifamily EV charging solutions at your property!