Tankless water heaters are a great option for homeowners who want to save money on their energy bills and improve their home’s efficiency. However, tankless water heaters can be expensive to purchase, so renting may be a more affordable option for some homeowners.
In this article, we’ll discuss the pros and cons of renting a tankless water heater, as well as the factors you need to consider before making a decision.
Pros of Renting a Tankless Water Heater
There are a number of pros to renting a tankless water heater, including:
- Affordability: Renting a tankless water heater can be a more affordable option than purchasing one, especially if you have a tight budget.
- No upfront costs: When you rent a tankless water heater, you don’t have to pay any upfront costs, such as the purchase price or installation fees.
- Easier to upgrade: If you decide you want to upgrade to a different type of water heater in the future, it’s easier to do so if you’re renting.
Cons of Renting a Tankless Water Heater
There are also a few cons to renting a tankless water heater, including:
- Less flexibility: You’re locked into a rental contract for a certain period of time, which means you can’t upgrade or replace your water heater without paying early termination fees.
- Higher monthly costs: Renting a tankless water heater can be more expensive than owning one in the long run, due to the monthly rental fees.
- Less control: You have less control over the type of tankless water heater you get, as well as the maintenance and repairs that are performed on it.
Factors to Consider Before Renting a Tankless Water Heater
Before you decide whether or not to rent a tankless water heater, there are a few factors you need to consider, including:
- Your budget: How much can you afford to spend on your water heater each month?
- Your needs: How much hot water do you need on a daily basis?
- Your lifestyle: Do you have a growing family or plan to make changes to your home in the future?
How to Find a Tankless Water Heater Rental
There are a number of companies that offer tankless water heater rental. You can find them by searching online or by asking your local HVAC contractor.
When you’re comparing rental options, be sure to compare the monthly rental fees, the length of the rental contract, and the maintenance and repair policies.
Renting a tankless water heater can be a good option for homeowners who want to save money on their energy bills and improve their home’s efficiency. However, it’s important to weigh the pros and cons carefully before making a decision.
Here are a few additional tips for renting a tankless water heater:
- Get multiple quotes from different companies. This will help you ensure you’re getting the best possible deal.
- Read the rental contract carefully before signing it. Make sure you understand the terms and conditions, such as the monthly rental fees, the length of the rental contract, and the maintenance and repair policies.
- Ask about any discounts or rebates that may be available. Some companies offer discounts for military members, seniors, or homeowners who make energy-efficient upgrades to their homes.