Is a Tankless Water Heater right for my rental home?

Is a Tankless Water Heater right for my rental home?

Is a Tankless Water Heater right for my Snoqualmie rental home?

Does your rental property have an old water heater that you’re now considering replacing? You have options now beyond the traditional water heater.

In this article, we will go over the advantages and disadvantages of a tankless water heater so you can determine if it’s going to be the right fit for your Snoqualmie rental home.

Tankless water heaters have many advantages:

  • Savings – The tankless water heater will only operate with a demand for hot water. This means that the tenant will reduce their energy costs by up to 35% a year. This is a big saving, especially for a large family home or office.
  • Reliability – Today’s tankless water heaters are very reliable. When you install one of these units in your rental property it will deliver a steady supply of hot water for many years.
  • Lifespan – We all want the most return on investment from our appliances. When you install a tankless water heater you can expect a lifespan of up to 20 years. The lifespan for a traditional water heater is close to half that.
  • Space – A tankless water heater is less than half the space as the traditional water heater. They are installed on the wall and can be put almost anywhere including a closet.
  • Damage – one way a traditional water heater fails is when the tank spills its contents. This is bad enough in a single family home but can be a disaster in a high rise condominium, damaging the surrounding area and all the unit below.

The Disadvantages of a Tankless Water Heater.

The biggest disadvantage of a tankless water heater is the initial cost. They cost up to and beyond $2000. The traditional water heater is closer to $1000.

The installation cost will be higher as well. Since you are replacing a traditional water heater a lot of the surrounding pipes will need to be refitted.

Property Management for Snoqualmie WA

To learn more about our property management services call us today at (425) 458-1002 or connect with us online.

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