Home & Garden

HWT Rental: does it make sense for a rental?

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  • Aug 10th, 2021 4:29 pm
[OP]
Newbie
Sep 29, 2020
38 posts
8 upvotes

HWT Rental: does it make sense for a rental?

My HWT came as a rental with Reliance when I purchased the place a few months ago.

It's currently just over 10 years old, and I'm considering purchasing instead of renting the HWT. It's a Rheem 50 gallon (PV?) gas HWT, and the current rental comes out to about $32/month.

Does it make sense to continue renting the HWT if I'm renting out the place? It seems like quite a hassle to call a plumber to come look and fix the HWT, especially when I'm not there, instead of just calling Reliance and sending them out and have them do the repair for free.

On a side-note: would they replace the HWT for free now that it's > 10 years old?
21 replies
Deal Addict
Dec 25, 2012
1187 posts
501 upvotes
Toronto
Read that mega thread about hwt rentals lots of good info there. Search
JS
Member
Aug 19, 2013
378 posts
315 upvotes
Etobicoke
Buy it out if you can. It will save you money in long run. HWT easily lasts 15+ years with proper maintenances.

Don't forget to check the big thread on HWT.
Jr. Member
Apr 8, 2013
154 posts
60 upvotes
Toronto
Yes, I'd buy out the rental provided that the buy-out price is reasonable. A number of these firms intentionally structure the buy-out price that's significantly higher than the fair market value of the hot water tank to discourage consumers from terminating the contract. It's another reason that you should avoid these firms at all costs. In terms of repairing the appliance - I'd recommend that you line up a reputable HVAC contractor for repairs. It may be worth having them clean the and inspect the furnace every couple of years especially if your renting the house.
Deal Addict
Jun 16, 2009
3021 posts
1362 upvotes
Woodbridge
Its a good idea to buy your tank. Generally in five years it pays you off to own than rent,
Reliance or other rental companies will replace the existing rental for "free" but will lock you in contract for next 15 years.
richyrich123 wrote: My HWT came as a rental with Reliance when I purchased the place a few months ago.

It's currently just over 10 years old, and I'm considering purchasing instead of renting the HWT. It's a Rheem 50 gallon (PV?) gas HWT, and the current rental comes out to about $32/month.

Does it make sense to continue renting the HWT if I'm renting out the place? It seems like quite a hassle to call a plumber to come look and fix the HWT, especially when I'm not there, instead of just calling Reliance and sending them out and have them do the repair for free.

On a side-note: would they replace the HWT for free now that it's > 10 years old?
HVAC Professional. Committed to customer, not brand.
Furnace & Central AC Group Buy 2021
[OP]
Newbie
Sep 29, 2020
38 posts
8 upvotes
onebuddy wrote: Buy it out if you can. It will save you money in long run. HWT easily lasts 15+ years with proper maintenances.

Don't forget to check the big thread on HWT.
I'm assuming once I buy it out they won't continue servicing it for free?
Deal Fanatic
Mar 21, 2010
6072 posts
2939 upvotes
Toronto
richyrich123 wrote: I'm assuming once I buy it out they won't continue servicing it for free?
What even is "servicing"? Most people never touch their HWT and just replace it when it fails or when they think it needs replacement. These companies love to say that they'll get someone out right away to save you from the horror of not having hot water, but that basically never happens.

I would buy it out, and if you're concerned about it failing since it's a rental (fair point), replace it aggressively. Even buying a new HWT and paying for installation every 10 years, whether it needs it or not (they should last more than 10 years but if you're very risk averse), is going to be far less than renting one. $32/month is almost $4,000 over 10 years.
Deal Fanatic
User avatar
Jan 16, 2011
5890 posts
6928 upvotes
The NORTH
Manatus wrote: What even is "servicing"? Most people never touch their HWT and just replace it when it fails or when they think it needs replacement. These companies love to say that they'll get someone out right away to save you from the horror of not having hot water, but that basically never happens.

I would buy it out, and if you're concerned about it failing since it's a rental (fair point), replace it aggressively. Even buying a new HWT and paying for installation every 10 years, whether it needs it or not (they should last more than 10 years but if you're very risk averse), is going to be far less than renting one. $32/month is almost $4,000 over 10 years.
Should be replacing the sacrificial node when needed... Maybe flushing it out once in a while? I have a tankless and there are a couple things to do too it from time to time.
Jr. Member
Apr 8, 2013
154 posts
60 upvotes
Toronto
Our old HWT failed (the tank rusted out) a few years ago. Quick trip to Home Depot and we were able to replace the tank the same day. If you're in the GTA, there are a couple of reputable contractors on this forum that you could contact if you need assistance.
Member
Aug 19, 2013
378 posts
315 upvotes
Etobicoke
richyrich123 wrote: I'm assuming once I buy it out they won't continue servicing it for free?
Regular servicing is not that hard.

1. Drain at-least once a year about 3-5L to remove sediment and debris.
2. Change anode road periodically depending on your water softness level. Living in Toronto, I always change in every 3 years. However, I do check the rod every year when I'm doing my yearly water drain.
Deal Addict
User avatar
Sep 27, 2006
4031 posts
1063 upvotes
Not so easy there Ma…
richyrich123 wrote: My HWT came as a rental with Reliance when I purchased the place a few months ago.

It's currently just over 10 years old, and I'm considering purchasing instead of renting the HWT. It's a Rheem 50 gallon (PV?) gas HWT, and the current rental comes out to about $32/month.

Does it make sense to continue renting the HWT if I'm renting out the place? It seems like quite a hassle to call a plumber to come look and fix the HWT, especially when I'm not there, instead of just calling Reliance and sending them out and have them do the repair for free.

On a side-note: would they replace the HWT for free now that it's > 10 years old?
Call Reliance and get the buy-out price and follow up in the forum about whether it's worthwhile to buy out. They likely still want a remarkable $ at around 10 years though.

After 10 years you have the option return it to them at $0 or about $75 for them to pick up from you empty and disconnected. You need to confirm that with them. Some people are getting stuck with longer lock-ins when Reliance buys another company.
[OP]
Newbie
Sep 29, 2020
38 posts
8 upvotes
Thanks for the response everyone. The slight worry I have is that I would need to scramble to arrange for a contractor to fix/replace the HWT in the dead of night or when I'm out of town or too far away to arrange for it in person.

That being said, it seems like it shouldn't happen too often, and the regular maintenance could happen in between tenants.
Deal Fanatic
Mar 21, 2010
6072 posts
2939 upvotes
Toronto
richyrich123 wrote: Thanks for the response everyone. The slight worry I have is that I would need to scramble to arrange for a contractor to fix/replace the HWT in the dead of night or when I'm out of town or too far away to arrange for it in person.

That being said, it seems like it shouldn't happen too often, and the regular maintenance could happen in between tenants.
Firstly, you don't need to do it in the dead of night. It's just hot water. It's an inconvenience but if my hot water tank stops working, it might take a couple of days to get a fix or a replacement, and it's the same for tenants. No different from if the oven stops working - and you probably aren't subscribed to an oven maintenance plan.

Secondly, you can do some of this in advance. Identify and screen a few plumbers in your area and decide who you would call first. Not really any different from calling Reliance.
Deal Addict
Jul 22, 2019
1656 posts
1999 upvotes
Anyone have recommendations for a plumber in York region? Also how much would it cost to change the anode?
Deal Guru
Jan 25, 2007
10621 posts
5915 upvotes
Paris
Manatus wrote: Firstly, you don't need to do it in the dead of night. It's just hot water. It's an inconvenience but if my hot water tank stops working, it might take a couple of days to get a fix or a replacement, and it's the same for tenants. No different from if the oven stops working - and you probably aren't subscribed to an oven maintenance plan.

Secondly, you can do some of this in advance. Identify and screen a few plumbers in your area and decide who you would call first. Not really any different from calling Reliance.
I think hot water is a basic service in Ontario and tenants aren’t expected to go more than 12 or 24 hours. A few days for them, or you, is nuts. Last time mine broke I noticed at midnight, had a new one installed by 8am.
Deal Addict
Dec 24, 2007
1955 posts
487 upvotes
Toronto
We are renting now for 6 years.

In the long run it is cheaper to buy than to rent but this is what my better half wanted and I let her have her win.

Last week I notice some water pooling around tank and thought that I had accidentally damaged the wall waterproof membrane (doing the baseboards) and causing water to seep in. (since we had several days of heavy rain).

I managed to dry the area and put towels as barriers to determine where the pooling water was coming from.

The next day I determined it was from the hot water tank and quickly called the hwt rental number. The service call was quick and they were at my home within 4 hours. The technician determined it was a crack drain valve and it was repaired under warranty.

For those that are buying their rental or installing their hot water tanks keep an eye on the plastic drain valve, according to the technician they tend to crack and can cause water damages if not repaired on time.

Cheers.
Thread started in 2016 - 1927 fully gutted and renovated 2 storey detached home in the big T.O. - small projects still in progress.

RFD priceless!
Deal Addict
User avatar
Sep 27, 2006
4031 posts
1063 upvotes
Not so easy there Ma…
badass wrote: We are renting now for 6 years.

In the long run it is cheaper to buy than to rent but this is what my better half wanted and I let her have her win.

Last week I notice some water pooling around tank and thought that I had accidentally damaged the wall waterproof membrane (doing the baseboards) and causing water to seep in. (since we had several days of heavy rain).

I managed to dry the area and put towels as barriers to determine where the pooling water was coming from.

The next day I determined it was from the hot water tank and quickly called the hwt rental number. The service call was quick and they were at my home within 4 hours. The technician determined it was a crack drain valve and it was repaired under warranty.

For those that are buying their rental or installing their hot water tanks keep an eye on the plastic drain valve, according to the technician they tend to crack and can cause water damages if not repaired on time.

Cheers.
A tank bought at retail typically has a plastic valve. The pro tanks installed through an HVAC company have brass valves. I'm not sure who you rent from but from my experience, a Reliance rental came with a brass valve.
Deal Addict
User avatar
Sep 27, 2006
4031 posts
1063 upvotes
Not so easy there Ma…
simplypop wrote: Anyone have recommendations for a plumber in York region? Also how much would it cost to change the anode?
I could see the cost varying by 100% easy. On many tanks the anode is easy access, on others (Bradford White?) the anode is inline with the hot or cold water line and then possibly add a mixing valve in the way...
Deal Guru
User avatar
Mar 13, 2004
11818 posts
3475 upvotes
Ontario
As others have mentioned call the rental company and find out how much it is to buy out and if its worth it for you to do so currently.

if you decide to replace the tank then get into contact with @newlyborn he is a highly recommended HVAC (Furnace/AC) Company on RFD that services Toronto/GTA and around from - Fair Deal Heating & Air Conditioning. He also does regular hot water tanks & tankless. You can find many positive reviews from other RFD customers here - new-furnace-ac-time-2322131/29/?utm_cam ... #p34800177
richyrich123 wrote: My HWT came as a rental with Reliance when I purchased the place a few months ago.

It's currently just over 10 years old, and I'm considering purchasing instead of renting the HWT. It's a Rheem 50 gallon (PV?) gas HWT, and the current rental comes out to about $32/month.

Does it make sense to continue renting the HWT if I'm renting out the place? It seems like quite a hassle to call a plumber to come look and fix the HWT, especially when I'm not there, instead of just calling Reliance and sending them out and have them do the repair for free.

On a side-note: would they replace the HWT for free now that it's > 10 years old?
Deal Addict
Dec 24, 2007
1955 posts
487 upvotes
Toronto
I guess Enercare are buying their units from retail.

Cheers!
fergy wrote: A tank bought at retail typically has a plastic valve. The pro tanks installed through an HVAC company have brass valves. I'm not sure who you rent from but from my experience, a Reliance rental came with a brass valve.
Thread started in 2016 - 1927 fully gutted and renovated 2 storey detached home in the big T.O. - small projects still in progress.

RFD priceless!

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