Landlords boost options for EV driving renters

4 min read
  • Most landlords (86 per cent) would allow the installation of an EV charge point on their property
  • The majority of landlords would expect the tenant to pay for (35 per cent) or to share the cost (30 per cent), of installation
  • Landlords are open to installing EV chargers to increase the value of the property (40 per cent), make the property more attractive to tenants (40 per cent) and keep tenants happy (40 per cent)

 

In a major boost for EV driving renters, new research1 from Direct Line reveals the vast majority (86 per cent) of freehold landlords with a suitable property would install an electric vehicle (EV) charge point if their tenant requested one. A fifth (20 per cent) of landlords would be willing to cover the cost of installation for a tenant requested a charger was installed.

The majority of landlords would expect the tenant to pay for (35 per cent), or to share the cost (30 per cent) of, the EV charging point and installation. This could potentially cause problems between tenants and landlords in the long run, if there isn’t a clear written agreement in place outlining what happens to the charge point when the tenant moves out. It is also important there is an agreement as to who is responsible for paying maintenance and repair costs should something go wrong.

The main reasons for installing an EV charging point for a landlord is to increase the value of the property (40 per cent), to make the property more attractive to tenants (40 per cent), and to keep their tenant happy (40 per cent). A further 15 per cent would do so to enable them to charge more rent.

A quarter of landlords (26 per cent) would be concerned about the additional cost and maintenance associated with installing a charging point. Unlike the annual boiler service, landlords are not legally required to carry out an annual service on EV charge points, however doing so could help to ensure that the charge point is efficient and safe to use. It can also help extend this lifespan of the charger.

There are currently two grants2 available to support the purchase and installation of chargers for electric vehicles at a property owned by landlords: an electric vehicle charge point grant (either £350 or 75 per cent off the cost to buy and install a socket, whichever amount is lower), and an electric vehicle infrastructure grant (up to £30,000 or 75 per cent off the cost of the work, with the amount depending on how many parking spaces the work covers). Landlords can use an infrastructure grant and a charge point grant on the same property.

Sarah Casey, Landlord product manager at Direct Line business insurance, said: “One in 40 vehicles on our roads are now zero emission, including 960,896 cars3. With the UK government pathway for zero emission vehicle transition by 2035, demand for rental properties with EV chargers is set to soar as more drivers make the switch. Installing a charger will make a property appealing to a broader range of tenants and add value to the property. To avoid complications and disputes, it’s important that landlords and tenants have a written agreement to make sure that there is a clear understanding of who is responsible for maintenance and ownership of the charger.”

To help landlords deal with issues such rules relating to the installation of EV charge points and agreements or disputes relating to EV charge points, Direct Line landlord policies come with a Legal Advice Helpline, provided by DAS Legal Expenses Insurance Limited, which provides unlimited access to a team of legal advisors, who are available 24 hours a day, seven days a week, all year round in England and Wales. For uncommon and certain country-specific areas of law, the 24/7 helpline will refer you to specialist advisers, available Mon-Fri, 9am-5pm, excluding bank holidays. Landlords also receive access to online legal templates, guides and interactive tools with DAS Businesslaw. Allowing landlords to quickly draft, duplicate, download and electronically sign a comprehensive range of documents.

For more information about Direct Line's landlord insurance, please visit:

https://www.directlineforbusiness.co.uk/landlord-insurance

 

ENDS

 

Notes to Editors

1 Censuswide survey of 1,004 Residential Landlords in the UK (aged 18+), conducted 28th March – 2nd April 2024, of which 625 were freeholders. Censuswide abide by and employ members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council.

2 Information from gov.uk - https://www.gov.uk/electric-vehicle-chargepoint-grant-landlords

3  EVs drive down carbon emissions and lift vehicle ownership to record high - SMMT

Direct Line Group  

Unni Henry  

PR Manager 

Email: [email protected]  

 

About Direct Line business insurance

Launched in 2007 Direct Line business insurance now has over half a million customer policies, providing a flexible range of insurance products for the landlord, van and small business sectors.

Direct Line business insurance policies are underwritten by U K Insurance Limited, Registered office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England and Wales No 1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Direct Line business insurance and U K Insurance limited are both part of Direct Line Insurance Group plc.

Customers can find out more about Direct Line business insurance products or get a quote by calling 0345 301 4827 or visiting https://www.directlineforbusiness.co.uk.