Whether you’re thinking of trying to turn your home into a rental property and becoming a landlord or just trying to update your own home there’s a lot to be done. For example, your tenants are going to need a hot water heater, and as a homeowner, you want only the very best for the tenants you’re renting to.
While being a landlord is great for giving you a steady stream of rental income as an investment property, it can become expensive when you’re trying to take care of your primary residence and your rental property as well. One of the most expensive things to outfit a rental property with is the water heater so you want to do your research to determine what the best option is at the best price. In this article, you can find a few tips to help you choose the right water heater for any property you own.
How long do water heaters last?
The first question you want to ask yourself is how long do hot water heaters last? This question is not as easy to answer as you would think. It actually depends on the type of water heater. A water heater’s life expectancy is eight to 12 years for gas, 10 to 15 years for an electric water heater, and around 20 years for tankless gas and electric water heaters. This, of course, is also according to how well you take care of the water heater and includes factors such as leaks, sediment gathering in the tank, and corrosion.
Tank or Tankless?
While there are quite a few water heaters to choose from, the biggest decision is between a tank or tankless. Tank-style water heaters are more traditional and usually hold from 60 to 90 gallons of water. They contain the water for you and are constantly running to heat it up. Tankless water heaters switch on only when you need hot water, which can save you quite a bit on your electric bill every month. Tankless also tends to last longer than tanks do, so this is the first thing you’ll need to make a decision on as it will have a major impact on the life of your water heater.
Direct Fired or Indirect Fired?
No matter whether your water heater is tankless or tanked, the units usually fall into the direct or indirect fire. With direct units, the water is heated by a flame directly. With indirect units, the water is heated indirectly by a furnace or boiler, which will save you money in the end. The choice of which you choose is up to you, but it’s best to talk to a company that specializes in water heaters for help to determine which is the best choice for your needs.
Once you’ve decided on whether you want a tanked or tankless water heater and whether it’ll be direct or indirect fired, it’s time to choose the fuel type. There are water heaters that work with gas, solar, propane, oil, and of course, electricity, but each comes with its own set of pros and cons. A great way to determine which is the best fuel type for your home is by talking to professionals.
If you aren’t familiar with installing hot water heaters, then it might be best to let the professionals handle the job for you. Installing a new water heater costs a lot of money upfront but that’s a good thing—it’s a big deal to put in a new water heater! Installation involves messing with gas lines or electricity, so sometimes it’s best to leave it to the people who install them for a living.
These are just a few of the tips you need to help you choose the best water heater for your rental home. Remember to do your research carefully before making a final decision on the right water heater for you and your renters.