Ever since their introduction to the marketplace, electric vehicle (EV) demand has continued to climb. According to plugndrive.ca, “In 2017, electric vehicle sales in Canada experienced a 56% growth increase and this upward trend is expected to continue.” The demographic for both condominiums owners and intenders, and electric vehicles leans towards young couples and urban professionals. When you have both these groups considering both EV and condo living, there are several factors to consider. Whether a condo parking spot can accommodate a charging station(s) this may determine where EV owners live. Condominium builders, such as Cortel Group, want to ensure that this is addressed prior to the construction phase. It’s important that buyers approach the builder on what the availability will be, if any, and what process is in place ahead of time so that both the builder and buyer are in agreement.
No matter what approach is offered, there are a number of legal and logistical challenges that residents, boards and property management companies face. These are some general questions and factors that need to be considered before purchasing an EV and what to address before purchasing a condo.
- Does the builder plan to install charging stations for tenants? Visitors?
- If the prospective tenant already owns or is planning to buy an EV does the builder providing charging stations or is the tenant able to install their own?
- What are the guidelines that the tenant will have to follow in accordance with property management?
- What legal ramifications exist for installing your own EV charging station?
- Will I require insurance for the charging unit? How will repairs be handled?
- Before you purchase an EV, review with your property management what is involved both legally and logistically and what costs are you looking at?
- Will your own installation follow building codes, and be in accordance with the Condominium Act (1998)?
- Who will be installing the charging unit and how will electrical cost of use be charged? Ask for installation referrals from the builder. They may know of some who are already approved by property management.
- If the condo builder allows you to install your own charging unit what legal agreement will you be responsible for signing? You will need to contact a lawyer to review any legal agreements between you and the condo builder/property management.
These are just a few factors to consider and it’s best to seek out these answers before purchasing an EV as station charging in condos can create a bit of a challenge – so do some research and explore your options before you buy either an EV or a condo. Today more and more condominium builders are considering this option for EV owners. Make sure if you own an EV or are thinking about purchasing one, that you request a parking space for an EV upfront at the preconstruction phase to avoid any unnecessary challenges. Together we can make a difference in making the environment better by reducing our carbon footprint.
For more information on this topic, visit www.plugndrive.ca/condo.
