Vickery’s recommendations for multifamily owners and managers include:

Developers of new properties should plan to add at least one two-car charger per garage level or garden-style apartment building.

Installing additional electrical conduits to power and support future EV chargers is essential to meet expanding demand in the long term.

Plan for single-user chargers in an assigned garage or parking spaces, which could command a higher premium.

Companies retrofitting their properties for EV chargers should carefully consider the chargers’ placement in order to minimize installation costs, as well as surface versus garage locations.

“It is very expensive to retrofit EV stations due to the need for tearing up pavement to install conduit and hardware, and potentially add dedicated transformers,” Vickery said. “That said, communities without chargers will significantly reduce their ability to compete over the next five years as EVs become the rule rather than the exception.