Ontario hot water tank rental fees will quickly surpass the initial cost to purchase the tank out right! Rental tanks are usually paid for in full within their first 1 to 3 years and the average tank is rented for 10 to 15 years so you could end up paying up 5 to 10 times the price you need to pay for a hot water tank.
When you should rent:
You plan on selling your home in the coming years
You have hard water in your home
You are on a tight fixed income
When you should own:
You are going to be in the home more than a couple of years
A hot water tank with soft water in it can last more than 10 years
Hot water tank : cheap, reliable and maintenance-free, however is low efficiency, takes up more space
Tankless water heater: endless hot water, high efficiency, requires less space, however is more expensive, need regular maintenance
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