Was wondering what you thought of the hot water heating option to rent or buy. Please forgive me if this discussion has already taken place...
I have several rental properties in Ontario. The hot water heating tanks are all from Reliance Home Comfort. Each house costs for this expense approx $140 each year to rent it from the company. I plan on holding these places for a long time (long-term holds all of them).
Have you guys considered just buying this tank outright?
I imagine it would cost a lot to purchase and thus a lot of cash up front, but I would rid myself of the ongoing rental cost that will otherwise go on forever. And if it goes on forever, then likely I would pay more in the long-run.
I`m interested to hear what you chose to do about this.
I have several rental properties in Ontario. The hot water heating tanks are all from Reliance Home Comfort. Each house costs for this expense approx $140 each year to rent it from the company. I plan on holding these places for a long time (long-term holds all of them).
Have you guys considered just buying this tank outright?
I imagine it would cost a lot to purchase and thus a lot of cash up front, but I would rid myself of the ongoing rental cost that will otherwise go on forever. And if it goes on forever, then likely I would pay more in the long-run.
I`m interested to hear what you chose to do about this.