Homeowner guideHot water guide
Should You Rent or Buy a Water Heater?
Across Ontario, plenty of households pay monthly for a tank they do not own, and some forget the contract exists. Here is how to think about renting versus owning.
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- Short steps a homeowner can follow safely
- What to check before you pick up the phone
- Clear signs it is time to call a plumber
- Markham and York Region notes where they matter
- Licensing details confirmed when you call
- Residential
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- Markham & York Region
The short version
- Check the tank for a label naming a rental firm.
- Scan the gas bill for a line marked rental.
- Look for paperwork from when you bought the house.
How rentals work
A rental company installs and owns the water heater. The fee shows up monthly, either on the gas bill or as its own invoice. Repairs and replacement are typically included. Many rentals come with the house when you buy it.
Renting: pros and cons
| Pros | Cons |
|---|---|
| No upfront cost | Monthly fees add up over the years |
| Repairs often included | Rates may rise |
| Replacement handled by the company | Ending the rental may involve a buyout or fees |
Owning: pros and cons
| Pros | Cons |
|---|---|
| Usually cheaper over the heater's life | Upfront cost |
| You choose the model and installer | You pay for repairs |
| No monthly fee | You arrange replacement |
Ending a rental
Rental agreements vary. Some charge a buyout based on the tank's age; others charge removal fees. Ontario has rules about certain door-to-door rental contracts. Read your agreement and contact the company before replacing a rental tank, so you know the costs and the process for returning or buying it.
From the van: Never let anyone remove a rented tank without contacting the rental company first. You may be charged for unreturned equipment.
Our role
We do not rent water heaters. We install owned units and can help you understand your options. If buying makes sense for you, we can install a new tank and help you through the return process.