Your home’s water heater, a cornerstone of daily living, plays a crucial role in providing the comfort of warm showers and sanitized dishes. However, the question of whether to commit to the long-term ownership of this essential appliance or opt for the flexibility of a rental agreement is a consideration that requires careful evaluation. Before deciding whether to buy or rent a hot water heater in Ottawa, most homeowners have plenty of factors to consider. Coupled with choosing the best type of water heater for your home, what should be a straightforward process can become complicated without the right guide.
While some choose to buy their own water heater outright, plenty of homeowners rent hot water tanks or tankless water heaters in Ottawa. The idea of an affordable monthly rate—that includes regular maintenance—is exactly what most homeowners seek.
Unfortunately, it’s not hard to find news of people who feel they’ve been taken advantage of, such as homeowners on the hook for thousands of dollars to break complicated rental contracts, or the deceptive tactics used by shady rental companies.
Use our guide to examine your gas water heater options and, if you have additional questions, reach out to Hot Water Ottawa; we’d be happy to help in any way.
Renting vs Buying
When searching for a new water heater, you need to choose one that meets your household needs and makes financial sense.
Some things to consider include:
- Fuel source (natural gas, electricity, hybrid, other)
- Type of water heater (tank or tankless or hybrid)
- Required capacity
- Water heater brand
- Energy efficiency
- Projected average lifespan
- Cost of buying a water heater
Not least of all, you need to determine if renting or buying is right for you.
Buying a Hot Water Heater
Although buying a new water heater in Ottawa does involve upfront costs, there are many benefits worth examining if buying in within your household budget.
Some upsides to buying include: your selection won’t be as limited, your appliance will be under warranty, you can choose your maintenance plan, and—in the long-term—it will likely be more cost-effective to buy (because eventually your financing payments will cease and you’ll own the unit).
Lastly, there won’t be any rental contracts; certain rental agreements can be quite complicated depending on the rental company.
No Monthly Bills
When you choose to buy a hot water heater, one significant advantage is the absence of monthly bills specifically tied to the rental of the equipment. Purchasing a hot water heater means making a one-time investment that eliminates the ongoing financial commitment associated with renting. This can be particularly appealing for homeowners who prefer to avoid the long-term financial commitment and potential cumulative costs associated with monthly rental fees.
Adds Value To Home
Owning a hot water heater can contribute to the overall value of your home. When potential buyers assess a property, the inclusion of a reliable and well-maintained hot water heater is a positive feature. The ownership of such a critical home appliance can enhance the market appeal of your property, potentially contributing to a higher resale value when it comes time to sell.
Full Warranty
Purchasing a hot water heater often comes with the benefit of a full warranty. Depending on the manufacturer and model, these warranties can cover various components and potential issues. This warranty coverage provides peace of mind for homeowners, knowing that if any problems arise, they may be addressed without incurring additional expenses for parts or labor during the warranty period.
Renting a Hot Water Heater
The right water heater rental can offer tremendous value. One of the most attractive perks is that no big downpayment is required. Instead, homeowners typically enjoy free installation and a consistent monthly rate which includes necessary repairs like no hot water. In addition, a buy-out option is offered, allowing you to purchase the unit if specific terms are met.
Water heater rentals are convenient and (the right contract) can provide you with peace of mind. They’re also ideal for anyone that knows they’ll be in their home for a short period of time.
Free Repairs
One of the primary advantages of renting a hot water heater is the inclusion of free repairs as part of the rental agreement. In the event that the hot water heater malfunctions or requires maintenance, the rental company is typically responsible for covering the costs of repairs. This can alleviate the financial burden that unexpected breakdowns might otherwise place on homeowners who own their water heaters.
Free Installations
Renting a hot water heater often includes the benefit of free installations. This means that when you choose a rental option, the initial setup and installation costs are typically covered by the rental company. This upfront cost savings can be particularly appealing for those who are looking to avoid the initial investment required when purchasing a hot water heater.
Monthly Fees
The primary consideration with renting a hot water heater is the presence of monthly fees. While renting eliminates the need for a substantial upfront payment, homeowners are committed to paying a monthly rental fee for the duration of the rental agreement. It’s essential to weigh the convenience of free repairs and installations against the ongoing cost of monthly fees to determine the overall financial impact of a rental arrangement.
Beware of Some Water Heater Rental Contracts
You should review a rental provider’s contract carefully. Some of the “other guys” out there have hidden fees, repair exceptions and expensive buy-out clauses in the fine print.
This happens to such an extent that many Ottawa residents find that rentals are great until they want to stop renting. Then, essentially, they feel trapped; the deal is more expensive than they had anticipated, and it’s too costly to buy out their contract.
So, be sure to read the fine print and pay close attention to terms like rates, fees, policies, cancellation, liability, and buy-out.
Rates
Monthly rates will vary depending on the type and size of the water heater unit you rent, but you can expect anywhere from $15-$60 per month.
It’s also worth noting that the “other guys” raise their rates each year by approximately 2-4%, thus increasing your water heater rental cost over time.
Contract Term
Renting a water heater usually requires committing to a minimum contract term length. The “other guys” typically require customers to sign a rental contract that lasts at least 72-84 months.
Fees
An affordable monthly rental fee is highly publicized as all you’ll need to pay when you rent a water heater, but take the time to search for hidden fees.
The “other guys” charge exit fees that include paying for the entire length of the contract, even if you are terminating it early. Also, if you decide you’d like to own the unit, their buy-out pricing is rarely a good deal.
Note: Many companies charge an additional “Hard Water Rate” and expunge themselves from repairs due to hard water unless you pay extra.
Service
Service and maintenance are supposed to be included in your water heater rental contract. While this may be true, don’t expect same-day service. With the “other guys,” you will call a 1-800 number and likely wait days for repairs. (We heard some shocking stories!)
Discuss Your Options With an Ottawa Area Water Heater Expert
Hot Water Ottawa’s approach harkens back to old-school customer service. We provide a much higher level of personalized service than the “other guys” do.
Not only do we know everything there is to know about a hot water tank, we’re also your neighbour. Our local hot water experts are ready to help you navigate your options and choose your next hot water heater.
And, if you decide to rent a water heater in Ottawa, we offer a robust plan that was designed with you in mind.
Rates With Hot Water Ottawa
You’ll pay lower rates for your water rental with us, plus we do not have annual rate increases built into our contract.
Contract Term With Hot Water Ottawa
A rental contract with Hot Water Ottawa is straightforward, and we do not impose a mandatory rental term length.
Fees With Hot Water Ottawa
We’re 100% transparent about our fee structure; there are no surprises with Hot Water Ottawa. In addition, you have the freedom to purchase your rental at any time without penalty.
Hot Water Ottawa’s Easy Rental Buyout Formula
Our buy-out formula is fair and easy to understand. The buy-out price is based on a 12-year minimum rental term (from the date of installation). It is determined by dividing the original purchase price by 144 [which is 12 months times 12 years] multiplied by the number of months remaining in a term of 12 years (from the date of installation).
For example, if a customer wants to exercise their buy-out after renting a tankless water heater at $39.77/month for 34 months (and the original purchase price of the unit was $4200 plus HST), the buy out would be calculated as follows:
$4200 divided by 144 = $29.16
$29.16 x 110 (144-34) = $3,207 plus HST
Service With Hot Water Ottawa
You won’t wait days for service. We understand that hot water repairs are always emergencies. Our licensed technicians will prioritize your service call. You can call Hot Water Ottawa anytime, 24/7. 613-729-5052
We can fix any make and model, including gas water heaters, tankless, electric and hybrid units. And, in addition to providing excellent service, we provide maintenance throughout the life of your water heater to keep it running properly.
Environmental Options
More than ever, homeowners are becoming increasingly interested in using more eco-friendly products. Maybe you’d like to move away from your natural gas hot water tank to a tankless water heater or a hybrid water heater model?
Protecting the environment guides our decision-making; we’d be happy to help you increase energy efficiency while reducing your gas bill. Read our guide to tankless water heater models.
Transitioning to Hot Water Ottawa is Seamless
If you are currently renting with another company, our Comfort Consultants can answer your questions and help you transition to renting with Hot Water Ottawa.
We’ll drain, disconnect, remove and return your old tank to your previous provider. The only thing you need to do is let the “other guys” know Hot Water Ottawa will be doing so on your behalf.
Then, we’ll install your new tank free of charge.
“Highly suggest checking this company out. Was pricing around for a new hot water tank and called these guy’s. Very knowledgeable, competitive pricing and most of all no pressure to buy from them.” – Doug B.
BOOK A FREE CONSULTATION FOR WATER HEATER INSTALLATION OR RENTAL
Hot Water Heater Comparison
| Hot Water Ottawa | The “Other Guys” | |
| No large down payment required to rent | 👍 | 👍 |
| No charge for basic installation of rental units | 👍 | 👍 |
| Consistent monthly payments | 👍 | 👍 |
| Rental agreement includes maintenance and repairs | 👍 | 👍 |
| Offers a wide range of types (tank, heat pump or tankless water heaters) | 👍 | |
| Prioritizes water heater service calls | 👍 | |
| Locally owned and operated | 👍 | |
| Has no minimum term requirement for rentals | 👍 | |
| Offers optional rental buy-out (determined by a simple formula) | 👍 | |
| Known for excellent customer service | 👍 | |
| Disonnects, removes and returns existing units to previous provider at no charge | 👍 | |
| Helps customers adopt “green” technology | 👍 | |
| Raise their rental rates yearly | 👎 | |
| Customer Service means calling a 1-800 number | 👎 | |
| Routinely delay water heater services calls (up to a week) | 👎 | |
| Require a minimum 72 to 84 month rental term | 👎 | |
| Require payout of entire rental term upon rental contract termination | 👎 | |
| Buy-out charges are typically overpriced | 👎 | |
| Disconnection and return procedures are costly | 👎 | |
| Impose hidden fees and charges when a customer wants to change providers | 👎 |
BOOK A FREE CONSULTATION FOR WATER HEATER INSTALLATION OR RENTAL