Rent or Own your water heater?

[sting]

Is anyone else sick of playing $20 a month to Direct Energy for renting their water heater? I'm almost ready to get up off my ass and do something like buy my own heater. Anyone stopped renting to own? I need inspiration to stop procrastinating.

 

[james t kirk]

I own my own.

There is NO POINT in renting. Renting is some idea that made sense 30 years ago when it was a buck a month.

Anyone with even a bit of handy man in them can install a hot water tank.

Initially, I like every other fool was renting my tank. Then, Enbridge kept raising the rates and raising the rates and would send me these little pamphlets in my bill called "Hassle Free Hot Water" (Because they can make shit loads of money renting tanks and tank rental is not in the least way regulated.)

I think it was about 2000 when I bought my tank from them for a couple of hundred bucks (it was about 3 years old at the time).

I had grown weary of them raising the rates every 6 months. A buck here, 50 cents there. I called them up and told them to come and get their fucking tank. They told me that I would have to pay a "pick up fee" or something to that effect for them to properly dispose of the tank. I told them not to worry that I would properly dispose of the tank (and probably get about 5 bucks in scrap) They told me that it didn't matter that I had to pay this fee anyway. (The fee was quite high and really pissed me off.)

Blah blah blah, long story short, I argued with them and chiseled them down on the price and bought the thing outright. They kept telling me that I would find out when the tank broke down and it cost $500.00 to fix. (I told them if that was the case, I'd buy a new tank for less.)

I would never ever rent again.

Fact of the matter, tanks are pretty reliable.

 

[Moraff]

There's not much to go wrong with a hot water heater so there's really no point in renting as you will save a lot more money in the long run buy purchasing one yourself.

 

[cc12rye]

Check out the tankless ones which are more energy efficient. You can buy them at Costco.

 

[erectus]

This one of the great scams of modern times.......I do believe that my rental has cost me "one billion dollars" to date

I did have someone in to fix mine a few weeks ago..mmmmmmmmmmm first call in 30 plus years

 

[oldjones]

The real question is: Who is still renting, and why? Bought mine a few years ago, the saved rent paid for it a coupla months ago, so it won't bother me a bit to chuck it if I decide to go tankless or indirect when I get my new boiler this summer.

 

[sting]

Damn I hate those gas companies. So how much is installation of a new tank?

 

[Moraff]

I looked into tankless systems really well and the technology is well founded, but the biggest downfall is the warranty. I could warranty my grandmother for a longer period. That tells me someone doesn't trust them to hold up. There still aren't a lot of companies who will install them and those that tend to ask for inspection fees and such up front. The cost also has to include the installation of 'powered' exhausted systems; any thing less (passive) is a waste of time. Because of Toronto 'extreme' climate, as compared to most of the states, you have to get the top line, bigger, more powerful unit. Now the cost of buying is really starting to climb. Think hard about it

If your paying $20 you're getting ripped off. I pay $11/month for a top line tank. If your thinking of getting a new tank, call the company tell them yours doesn't work well and if it's over 10 years old you should be getting a newer better one and expect to pay the lower rate.

So, $11.00 x 12 months x 10 years = $1320 including replacement warranty and free service for life of tank (10 years). Something to think about.


It's time will come, but not yet.

You could get an 189L gas water heater (good for 6-person household) with a 12-yr Warranty from C.Tire for $700 and save yourself $620 (assuming you can get the lower rate of $11/month rental for the next 10 years). As for service calls, personally I can't think of anyone who had any for the warranted life of their tank. Besides, even if you had one you'd still come out ahead.

 

[Moraff]

Is that $700 installed with all the add-ons or disposal fees. Nice if it's complete.I'm an old guy 189L is approx. 30 Imp Gals. right. For 6 very small people who take really quick showers or baths together.

No that's just for the tank. I don't know what someone would charge you for install/removal. For a simple tank switch I still think you'd come out ahead tho'. Especially since I sincerely doubt the rental fee would stay at $11/month for the next ten years.

189L = almost 41 gallons not 30

Whether that's enough for 6 people or not I can't swear, but that's what the blurb says about the tank. and 41 gal seems to be the middle ground as the other sizes they sell are 33 and 60 gal sizes.

 

[Moraff]

Remember to drain your tank from the lower valve every six months to a year to flush out sediment.

Two reasons to do it. One is i youu own the tank, it will corrode sooner with the sediment. Second is it uses more energy and takes longer to heat when there is a few inches of sediment in the bottom.

Simply to do, just hook a graden hose on and flush down a drain for five minutes or less.

(Now that I opened my big mouth I'll have to go flush mine!)

Excellent idea! Thanks for the reminder!

 

[sting]

I'm I the only one renting a water tank for $20 a month? Maybe they are over billing me! Damn them.

 

[goodtime]

Remember to drain your tank from the lower valve every six months to a year to flush out sediment.

Two reasons to do it. One is i youu own the tank, it will corrode sooner with the sediment. Second is it uses more energy and takes longer to heat when there is a few inches of sediment in the bottom.

Simply to do, just hook a graden hose on and flush down a drain for five minutes or less.

(Now that I opened my big mouth I'll have to go flush mine!)

Wasn't getting much hot water, a simple flush fixed the issue.

Whether 30-40L, good enough for 1.5 consecutive hot showers. But if 3 people shower together

Hope to go tankless soon. Won't have to worry about concurrent water usage as long as there's enough water pressure.

 

[rc12rc12]

buy it
simple

 

[OnTheWayOut]

a few things to mull over

I switched from electric to gas and rented. I had replaced the electric and it lasted 4 or 5 years so I decided to go to gas when one of the elements corroded. I had recently switched to gas for heat. If I had stayed with electric I would have bought and installed it myself instead of rent because electric costs so much less to buy. Just cost a fortune to run ...... and the gas recovers so much faster.

The high efficiency gas water heater I had installed would have cost me @ $1000 installed and I pay $11 per month to rent. I'm saving a bundle on hydro and I don't plan to be in the house before I reach the break-even point (7.5 years). It even has a vacation mode to cut back when I'm away. And if it breaks it's no biggie to me.

 

[King Midas]

You should never rent anything -- a car, a water heater a home. BUY.

 

[Ben Hogan]

Why do I rent? - because the house I purchased had a rental water heater and Enbridge makes it prohibitably expensive to purchase the water heater outright.

Note - new water heaters must now be installed witha regylator so that the water doesn't get too hot and pose a safety problem. I'm told that if you like your water HOT that you should find someone to do the installation for cash or else do it yourself.

 

[jaycam]

Why do I rent? - because the house I purchased had a rental water heater and Enbridge makes it prohibitably expensive to purchase the water heater outright.

Note - new water heaters must now be installed witha regylator so that the water doesn't get too hot and pose a safety problem. I'm told that if you like your water HOT that you should find someone to do the installation for cash or else do it yourself.

I have one of those, its called a mixing valve or "anti scald devise" You can easily adjust the temp yourself. There is a small locking screw on the knob you need to loosen and then adjust it to your desired temp

Here is a link to one of the most common valves used,
http://www.watts.com/pro/_productsFull_tree.asp?catId=64&parCat=310&pid=718&ref=2

Most rental tank contracts are a scam, some are worse then others

$20 is the going rate for 50 gallon power vent tanks, the kind that uses a plastic exhaust pipe and has a blower motor on top of the tank. Most new builds have these. as does my house

The conventional vented tanks cost much less to buy or rent. They are connected to your chimney with what looks like a metal duct.

Conventional is better if you already have it. less parts to break, it will work when the power goes out. Cheaper to replace at the end of its life.

 

[james t kirk]

I would think that if you are buying a used house with an existing Enbridge rental you could simply refuse to take on the lease of the tank. You are under no obligation to Enbridge.

Call them up and tell them to come and get their tank.

If there is some weasel clause in there that you ARE somehow responsible to assume the lease, take the cordless drill to it and drill a hole in the tank, then tell them that their tank leaks and to come and get it and NO, you do not want another rental.