It’s here. This week, we launched our new Multifamily CaaS program, designed to fit the needs of multifamily communities with electric vehicles. The SemaConnect team has spent the last few months perfecting and creating a flexible program that makes it even easier for apartments, condos, and homeowners associations to meet the needs of their community members and install charging stations as needed for one low monthly subscription. Now, property managers have a new way to get smart Series 5 charging stations for residents with dedicated parking. Here’s how it works:
What is CaaS?
We’ve mentioned Charging as a Service on our blog before, but essentially, CaaS is an EV charging subscription. Property managers pay a low monthly fee and receive smart charging stations complete with software, maintenance, and hardware upgrades. The monthly subscription allows properties to use their operating expenditures budget rather than their capital expenditures budget – a workaround for properties that have already exhausted their CapEx funds for the year. SemaConnect’s Multifamily CaaS program is different from a leasing program because while both have a monthly fee, CaaS includes hardware upgrades and even replacements for vandalism or for damage caused by vehicles. Compared to other charging programs, CaaS offers the most flexibility when comes to adding stations à la carte.
How does CaaS benefit properties?
There are three big reasons why multifamily properties will choose Multifamily CaaS. The first reason: positive cash flow. The Series 5 station not only helps you attract new residents who want to charge at their own dedicated parking space, but the it also has a clear ROI. SemaConnect handles all driver billing, which means that if you use driver fees to offset your program fees, you will receive a remittance check every month. Whether your preferred ROI is $1 or $50 per month, you can do it with Charging as a Service. Property managers can even use a mixed pricing model to charge drivers for access plus electricity consumption!
Secondly, Charging as a Service is a flexible program. Some property managers worry about buying a charging station for a specific resident who may later move out. With CaaS, if the EV driver moves, you have 90 days to pause payment while you reassign and redeploy the station for another resident. The low monthly fee also makes it easy to add additional stations as the number of electric cars in your community grows.
Finally, Charging as a Service has the best maintenance package. In the words of SemaConnect COO Mark Pastrone in a recent meeting, “Our full service network and full replacement warranty were already the best in the industry. This is Best in Industry Plus.” The CaaS maintenance plan includes hardware upgrades, software upgrades, and replacements. If the stations are damaged by vehicles or vandalism, we’ll replace them. With CaaS, your charging program remains in top shape, even as the technology changes.
How does CaaS benefit drivers?
We hear it all the time from EV drivers: “I live in an apartment, and my property manager doesn’t want to charge the community for an amenity that only I will use.” It can be difficult to convince your property manager to buy a station for just one driver. The flexibility of the program, mentioned above, may be the justification that you need.
But CaaS has direct benefit to drivers, too. Besides being an easier “sell” for your property manager, Charging as a Service makes it easier for you to charge your vehicle. The Series 5 charging station is a smart Level 2 charging station that is compatible with all plug-in electric vehicles in North America. And you can use the same SemaConnect account to charge at both your personal charging station and any other SemaConnect station that you have access to. You can fully charge at your dedicated station at home, and you can top off on the road!
With Charging as a Service, it’s even easier to add electric vehicle charging stations to your apartment, condo, or other multifamily community. Want to learn more about options for your property? Click here to get started with a consultation.