12/02/2024
Renting water heaters is such a rip off! I think we all used to be blind to it because the price of rental was included in our gas bills. But this spring that partnership ended and now we all pay separately.
Usually if you buy a new water heater you’ll pay it off within a couple years. Which means you’re paying like 5x the amount you should over 10 years by renting! And you can often get 0% interest payment plans too spread over a year or two, so there’s no reason not to do this.
You can buy out your water heater but depending on how old it is, it’s often more $ than it’s worth. I’m on the phone with them right now and one of our properties has a veryyyyy old one so we just bought it out for $100 😂 I should have done this a long time ago! (Over 20 yrs old so I definitely need to replace that one soon though … 😬)
The other 2 water heater rentals at other properties are not worth buying out from Enercare (they just told me it would be $1000 for a 2016 one and $500 for a 2014 one). So I will be looking into purchasing new ones and ending my Enercare contracts soon. 💪