Summary
In this success story, we share how Haven Residential enhanced their properties’ value by adopting an end-to-end Electric Vehicle (EV) charging solution. The Haven team took advantage of a new revenue generating amenity to create an additional revenue stream and stand out as leaders in sustainability. Use this story as a guide for adding EV charging to your multifamily properties!
Company Profile
Haven Residential offers a full suite of services to ensure that every aspect of your property is taken care of, from revenue management to marketing and leasing. Haven's team of experts handles everything from accounting and compliance to sustainability and wellness initiatives, so you can rest easy knowing that your property is in good hands.
Haven’s Pains
- Lack of access control for their charging stations.
- Absence of an integrated EV solution
- No scalable solution
Challenge
Haven decided to tackle their pain points head on by installing Electric Vehicle (EV) Charging Stations at their properties. They recognized that waiting until later would only increase the cost and complexity of installation, so they took a proactive approach. Plus, they wanted to make sure that their EV platform could keep up with their growing property needs, which is why they sought out a scalable and integrated solution with their property management solution, Entrata.
Smart thinking, right?
Solution
1. PMS Integration
When Haven was seeking a solution to complement their property management solution, Entrata, they made sure to choose a fully integrated option with OK2Charge’s platform. They found that by offering leases for both EV and non-EV options, they could generate additional amenity income from new residents. Plus, with no data silos or duplicate efforts, their operations run seamlessly.
2. Access Control
With reservations and priority access options for residents, Haven can guarantee an improved charging experience and ensure that residents only pay for the energy they consume. This not only helps them prevent unauthorized charging from the public, but it also allows their team to efficiently recover costs and keep Haven sustainable.
3. Scalability
With the growing popularity of electric cars, it's no surprise that scalability is essential for Haven. Lucky for them, they partnered up with OK2Charge to make it happen. The best part? Now they have access to advanced and centralized reporting, which means tracking revenue, session utilization, and more is a breeze. Plus, their properties’ have the option to charge residents a pay as you go fee or monthly fees, they can easily set a pricing strategy to fit their property’s unique needs. Now, that's the power of choice!
Results and Improvements
• Generated new ancillary income stream with minimal effort from Haven team
•Significant increase in charging sessions which boosted their revenue
• Haven set their properties apart from competitors by offering smart charging
• Haven positioned themselves as a sustainability leader with early adoption
• Increased resident satisfaction and retention
