I’ll be upfront. Two years ago, I would have told you EV charging at a rental property was a nice-to-have that probably didn’t pencil out. Today? The math has changed.
EV sales in Canada hit over 13% of new vehicle sales in 2025 and that number is accelerating. In BC and Quebec, it’s over 25%. Your future tenant pool increasingly drives electric, and they need somewhere to charge.
But I’m not going to tell you to install chargers because it’s the future. I’m going to walk you through the actual costs, the revenue potential, the rebates available, and whether it makes financial sense for your specific property. Because if the numbers don’t work, it doesn’t matter how trendy EV charging is.
The Business Case: Why Investors Are Paying Attention
Here’s what changed. Two things happened at the same time:
1. Tenant demand is real. EV owners overwhelmingly prefer home charging. Over 80% of EV charging happens at home or at work. If your rental property has charging and the one down the street doesn’t, you have a competitive advantage in leasing. In tight markets, that’s the difference between choosing your tenants and begging for applications.
2. You can charge for it. EV charging doesn’t have to be a cost centre. With the right setup, tenants pay for the electricity they use — and often at a markup. You’re adding a revenue stream, not just an expense.
Let’s get into the numbers.
Level 2 Charger Costs: What You’ll Actually Spend
First, forget Level 1 charging (regular 120V outlets). It adds about 5-8 km of range per hour. That’s useless for most EV drivers. You want Level 2 chargers — 240V outlets that add 30-50 km of range per hour. A full charge overnight.
Equipment Costs
A good commercial-grade Level 2 charger with network connectivity (so you can track usage and bill tenants) costs:
- Basic networked charger: $800 to $1,500 per unit (e.g., Grizzl-E, ChargePoint Home Flex)
- Commercial-grade networked charger: $1,500 to $3,000 per unit (e.g., ChargePoint CPF50, FLO Home)
- Dual-port commercial unit: $2,500 to $5,000 (serves two parking spots from one unit)
For rental properties, I recommend networked chargers that support load management and usage tracking. Spending $1,500 to $2,500 per charging point is the sweet spot.
Installation Costs
This is where it gets expensive — and variable. Installation costs depend heavily on:
- Distance from the electrical panel to the parking area. Short run (panel in the garage)? $500 to $1,000. Long run (panel on the other side of the building)? $2,000 to $5,000+.
- Panel capacity. If your panel has spare capacity for a 40-amp circuit, you’re fine. If you need a panel upgrade, add $2,000 to $4,000.
- Number of chargers. Installing multiple chargers at once is cheaper per unit because you’re already paying for the electrician, permitting, and trenching (if applicable).
- Trenching for outdoor parking. If you need to run conduit underground from the building to a parking lot, costs can jump to $3,000 to $8,000 per charger.
Total Installed Cost Per Charging Point
| Scenario | Equipment | Installation | Total |
|---|---|---|---|
| Garage/attached parking, panel nearby | $1,500 | $800 | $2,300 |
| Detached garage, short run | $1,500 | $1,500 | $3,000 |
| Outdoor lot, underground conduit | $2,000 | $4,000 | $6,000 |
| Panel upgrade required (add to any) | — | +$3,000 | +$3,000 |
For a typical small multifamily with attached or nearby parking, budget $2,500 to $4,000 per charging point all-in.
Tenant Billing Models: How to Make Money (or at Least Break Even)
This is the part most investors mess up. You need a billing model that recovers your electricity costs and ideally generates a return on your investment.
Model 1: Included in Rent
Simplest approach. You add $50 to $100 per month to the rent for units with dedicated EV charging access. Average EV charging costs are $30 to $60 per month in electricity (depending on province and driving habits), so you’re covering costs with a margin.
Pros: Simple, no metering needed, attracts tenants. Cons: Heavy drivers cost you more, no per-use tracking.
Model 2: Metered and Billed Separately
Install chargers with built-in metering (most networked chargers have this). Bill tenants monthly based on actual kWh consumed. Mark up electricity by 20-50% above your cost to cover equipment depreciation and generate return.
Example: Your electricity costs $0.13/kWh (Ontario off-peak). You bill tenants $0.20/kWh. A tenant using 400 kWh/month pays you $80. Your cost is $52. Profit: $28/month per charger.
Pros: Fair, scalable, profitable. Cons: Requires networked chargers and monthly billing administration.
Model 3: Pay-Per-Use (Shared Chargers)
For properties where you can’t give every tenant a dedicated charger, install shared stations in common parking areas. Tenants (and potentially visitors) pay per session through an app.
You set the rate — typically $0.25 to $0.35/kWh or a flat rate per session. Charging network providers like FLO or ChargePoint handle billing and payment processing, taking a cut (usually 10-20%).
Pros: Works for larger buildings with limited electrical capacity, can serve multiple tenants. Cons: Network fees eat into margin, shared access can create conflicts.
Model 4: Third-Party Owned and Operated
Companies like FLO, ChargePoint, and Swtch Energy will install and operate chargers at your property at no cost to you — they make money from charging fees. You may get a small revenue share.
Pros: Zero capital outlay, no management hassle. Cons: You don’t control pricing, minimal revenue, long-term contracts (5-10 years).
For most small multifamily investors, Model 1 or Model 2 makes the most sense. You control the asset and the revenue.
Provincial Rebates: Reduce Your Upfront Cost
Canada has solid rebate programs for EV charging infrastructure. Here’s what’s currently available:
Federal — Zero Emission Vehicle Infrastructure Program (ZEVIP)
Natural Resources Canada offers funding for EV charger installations at multi-unit residential buildings. Rebates cover up to 50% of total project costs to a maximum of $5,000 per charger. This is one of the best programs available for rental property owners.
British Columbia
BC Hydro’s EV charging rebate program offers up to $2,000 per charging station for multi-unit residential buildings. The CleanBC Go Electric program may offer additional incentives. BC has the most EV-friendly policy environment in Canada.
Quebec
The Roulez vert program offers rebates up to $600 per charger for residential installations. For multi-unit buildings, the program may cover a higher portion. Quebec’s cheap hydro electricity ($0.07-$0.09/kWh) also makes the ongoing economics very attractive.
Ontario
Ontario currently has fewer provincial EV charging rebates than BC or Quebec, but the federal ZEVIP program applies. Some local utilities offer incentives — check with your local distribution company. The Ivy Charging Network (Ontario Power Generation) has partnership programs for multi-unit buildings.
Alberta
MCCAC (Municipal Climate Change Action Centre) offers grants for EV charging at workplaces and multi-unit residential buildings. Rebates of $2,000 to $3,000 per charger are common. Edmonton and Calgary also have municipal incentive programs.
Bottom line on rebates: Between federal and provincial programs, you can often recover 30-50% of your installation cost. On a $3,000 per-charger installation, that’s $1,000 to $1,500 back. Always check current programs before starting — these change frequently and have application windows.
Condo vs. Freehold: Very Different Situations
The installation process and complexity differ dramatically depending on property type.
Freehold Properties (Houses, Duplexes, Triplexes, Small Multifamily)
You own the building and the electrical system. Installation is straightforward:
- Get an electrician to assess panel capacity
- Choose your charger and mounting location
- Install and connect
- Start billing tenants
Timeline: 2-4 weeks from decision to operational charger. You control everything.
Condo Properties
This is where things get complicated. If you own a condo rental unit, installing EV charging involves:
- Condo board approval — required in almost all cases
- Common element modifications — running conduit through common areas usually requires a vote
- Electrical capacity — the building’s main service may not support multiple chargers without a major upgrade ($50,000 to $200,000+ for the building)
- Cost allocation — who pays for shared electrical infrastructure upgrades?
- Right to charge legislation — Ontario’s new right-to-charge provisions (under the Condo Act amendments) make it harder for boards to refuse, but the process is still slow
For condo investors, my advice: factor EV charging readiness into your purchase decision. A building that’s already EV-ready or has a charging plan in place is worth more than one that will fight about it for two years.
Some newer condos are built “EV ready” with 240V rough-ins at each parking spot. If you’re buying a condo for rental, look for this feature. It adds real value and costs almost nothing to activate.
The ROI Calculation
Let’s run the numbers on a realistic scenario.
Property: 6-unit multifamily, freehold, attached parking garage. Installation: 3 Level 2 networked chargers. Cost: $2,800 per charger installed = $8,400 total. Rebates: $4,000 (federal ZEVIP) = net cost of $4,400.
Revenue model: $75/month rent premium for units with EV charging access. Annual revenue: $75 x 3 units x 12 months = $2,700. Annual electricity cost: $45/month x 3 = $1,620. Net annual income: $1,080.
Payback on net cost: $4,400 / $1,080 = 4.1 years.
But that’s just the direct financial return. You also get:
- Reduced vacancy. Even one fewer month of vacancy per year at $1,500/month across your building is worth $1,500.
- Tenant retention. EV-driving tenants who rely on your charger are stickier. Reducing turnover saves $2,000 to $3,000 per unit in turnover costs.
- Future-proofing. As EV adoption increases, properties without charging will be at a growing disadvantage.
When you factor in vacancy reduction and tenant retention, the real payback is closer to 2 years.
Electrical Load Management: The Technical Detail That Matters
Here’s a practical issue that trips up investors. If you install multiple chargers, you might not have enough electrical capacity to run them all at full power simultaneously.
The solution is load management (also called load sharing or power sharing). Networked chargers can communicate with each other and share available power. If your panel can support 60 amps for EV charging but you have three 40-amp chargers, load management ensures the total draw never exceeds 60 amps by throttling individual chargers as needed.
This means you can install more chargers than your electrical capacity would normally support. A building with 60 amps available might support 3-4 chargers with load management instead of just 1-2 without it.
Most commercial-grade networked chargers (ChargePoint, FLO, Swtch) support load management. It’s a must-have feature for any multi-unit installation.
What to Install Now vs. Later
You don’t have to install chargers for every parking spot today. Here’s a smart phased approach:
Phase 1 (Now): Install conduit and wiring infrastructure to all parking spots during any renovation or construction. This costs $200 to $500 per spot and is much cheaper than retrofitting later. Install 2-3 active chargers for immediate demand.
Phase 2 (As demand grows): Add chargers to pre-wired spots as tenants request them. Your marginal cost is just the charger hardware ($1,500) since the wiring is already done.
This “EV ready” approach gives you maximum flexibility at minimum cost. You capture demand today while being ready for tomorrow.
The Competitive Advantage in Leasing
Ready to explore your financing options? Book a free strategy call with LendCity and let our team help you find the right path forward.
Here’s something I’ve seen in practice. In markets like Vancouver, Toronto, and Montreal, rental listings that mention EV charging get noticeably more inquiries. It’s becoming a filter on rental search platforms — tenants specifically look for it.
In a market where dozens of similar units compete for the same tenant pool, EV charging is a differentiator. It doesn’t replace good fundamentals (location, price, condition), but it absolutely tips the balance when a tenant is choosing between two comparable units.
For higher-end rentals ($2,000+/month), EV charging is approaching a baseline expectation. If your tenant demographic drives a Tesla or a Hyundai Ioniq, they’re going to pick the building where they can charge at home. Every time.
The Bottom Line
EV charging at rental properties isn’t charity work. It’s a calculated investment with a clear return path through rent premiums, reduced vacancy, and tenant retention.
The sweet spot right now is freehold small multifamily properties where installation is straightforward, rebates cover a big chunk of the cost, and tenant demand is strong. Condo properties are trickier but worth pursuing if the building is cooperative or EV-ready.
Start with 2-3 chargers, prove the demand, and scale from there. The tenants who want this amenity are typically higher-income, longer-term renters — exactly who you want in your building.
Frequently Asked Questions
How much electricity does an EV charger actually use per month?
Do I need a permit to install an EV charger at my rental property?
Can I prevent tenants from using their own portable chargers?
What happens if I sell the property — do chargers add to resale value?
Should I install Level 3 (DC fast charging) at my rental property?
How do I handle EV charging in a building with utility-included leases?
Are there insurance implications for having EV chargers on my property?
Disclaimer: LendCity Mortgages is a licensed mortgage brokerage. Content on this page is for educational purposes only and does not constitute legal, tax, investment, securities, or financial-planning advice. Rates, premiums, program terms, and regulations referenced are as of the page's last updated date and are subject to change. Any investment returns, rental yields, tax savings, or case-study figures shown are illustrative only — they are not guaranteed, not typical, and individual results will vary. Consult a licensed lawyer, Chartered Professional Accountant, or registered dealer before acting on any information above. Editorial standards.
Written by
LendCity
Published
July 19, 2026
Reading time
11 min read
Common Area Maintenance
Expenses for maintaining shared spaces in commercial properties, including lobbies, parking lots, landscaping, and hallways. CAM charges are typically passed through to tenants as part of net lease structures.
Depreciation
An accounting method that allocates the cost of a building over its useful life as a tax deduction. In US real estate, depreciation reduces taxable rental income. The Canadian equivalent is Capital Cost Allowance (CCA).
Duplex
A residential property containing two separate dwelling units, either side-by-side or stacked. Duplexes are popular among beginner investors because they can house-hack by living in one unit while renting the other to offset mortgage costs.
IRD
Interest Rate Differential - a mortgage penalty calculation based on the difference between your rate and current rates for the remaining term.
Landlord Insurance
Specialized property insurance designed for rental properties, covering building damage, liability claims, and optionally loss of rental income during repairs. Landlord insurance differs from homeowner's insurance by addressing the unique risks of tenant-occupied properties.
Multifamily
Properties with multiple dwelling units, from duplexes to large apartment buildings. Often offer better cash flow and economies of scale.
NOI
Net Operating Income - the total income a property generates minus all operating expenses, but before mortgage payments and income taxes. Calculated as gross rental income minus [vacancies](/glossary/#vacancy-rate), property taxes, insurance, maintenance, and property management fees. NOI is used to calculate both [Cap Rate](/glossary/#cap-rate) and [DSCR](/glossary/#dscr).
ROI
Return on Investment - a measure of profitability calculated by dividing net profit by total investment. Used to compare the efficiency of different investments.
STR
Short-Term Rental - a furnished property rented for periods of less than 30 days, typically through platforms like Airbnb or VRBO. STRs can generate 2-3x the income of long-term rentals but require more active management, higher operating costs, and compliance with local short-term rental regulations.
Triplex
A residential property containing three separate dwelling units. Triplexes offer higher rental income potential than duplexes while still qualifying for residential mortgage financing in most cases, making them attractive to growing investors.
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