Hopefully you found this article by searching for Hot water tanks Ottawa. If you did, then maybe I have succeeded in my goal of educating the masses about the scam that renting your hot water tank is. There really aren’t any perks that make financial sense. Please share this article, if you too are stuck in your Hot Water Tank Ottawa contract.
I am stuck renting my hot water heater Ottawa! At least that’s what my lawyer told me. I just purchased an older home, and being busy with my plumbing business, I may have neglected the details of a hot water heater contract, that I became stuck with when I bought my home. The tank was already 8-9 years old and undersized. When I was looking at the home I decided that it wasn’t a big deal, and I’d just switch it out for a more efficient gas heater when I moved in. I was surprised to find out that it wasn’t an option, unless I wanted to pay a $1300 buy out, on an 8 year old hot water tank that I could replace for way less money. Thus, the beginning of this article. I am now determined to educate the masses on the scam that is the hot water tank rental. Call it John The Plumber, a small local plumbing company located in Ottawa, Ontario, vs. The Big Bad Gas Water Heater Rental Companies.
Is renting a hot water tank Ottawa really worth your while?
Ottawa residents are spending between $175-$350 per year on their hot water tank rentals. The average gas heater rental contract is costing the home owners of Ottawa between $3625 and $5250 over the lifespan of the hot water tank. This anywhere from 2.5 times to 5 times the cost of supplying and installing the tank.
Electric hot water heaters typically cost, on average $900 to supply and install at current market rates in Ottawa.
Gas hot water heaters typically cost, on average $2100 to supply and install.
You could theoretically install three brand new hot water heaters on the same budget the rental company wants you to spend on one. Come on Ottawa, we’re smarter than this.
Hot Water Tank Ottawa Rental Companies Are being Dishonest
Hot water tank rental companies would like you to think that repairs to your tank are costly, and that the big advantage of renting your hot water tank, is that the cost of any repairs will be covered over the course of the rental contract. The flaw in their logic is that in 20 years of plumbing, I can count on one hand, how many times I’ve had to service a water heater that was younger than ten years old. The fact of the matter is, they don’t breakdown very often, if ever, during the first ten years. In fact, most hot water tanks that you’ll find in Ottawa stores, come with a ten year warranty anyways. At John The Plumber, we will match the warranty of the manufacturer.
Sometimes the reason we rent or lease things is to help with our day to day cash flow. I’ve done it before and inevitably will do it again, but to help the city of Ottawa deal with the rental hot water tank epidemic, we’ve decided to put together a plan to help Ottawa get away from renting their hot water tanks, and become more like the albertans who don’t rent hot water heaters at all.