Is a tankless water heater right for your rental property?

Is a tankless water heater right for your rental property?

Have you been thinking about installing a tankless water heater at your rental property? If so, there are advantages and disadvantages that come from choosing this type of water heater.

In this article, we will share with you the advantages and disadvantages of tankless water heaters just so you know if it’s going to be the right option for your rental property.

Are There Advantages to Having A Tankless Water Heater?

• Savings – A tankless water heater only operates when there is a demand for water. This means that your tenant could reduce their energy costs by up to 35% for the year. This can amount to huge savings especially if you specialize in office property management like we do and want to offer your tenants the most energy efficient solution.
• Reliability – Another huge benefit of having a tankless water heater is reliability. When you have one installed at your rental property it’s going to deliver a reliable supply of water at your pre-set temperature levels that will last for years to come.
• Lifespan – You want to get the most ROI from your appliances, right? When you purchase a tankless water heater you will enjoy a lifespan of up to 20 years and with their sleek design, you can put a tankless water heater anywhere in your rental property.
• Safety – Having a tankless water heater also means that you’re going to have a safe water heater compared to some traditional models which may be unsafe because the unit is only going to operate when warm water is needed so it’s not going to be always on.

What Are the Disadvantages?

The most obvious disadvantage of a tankless water heater is the cost. They can cost up to $1600 compared to the $800 that you might pay for a traditional water heater.

You may also have to pay installation costs as well including specialized piping and venting so it’s important to keep these costs in mind when you purchase one

Get Property Management in Ventura CA

For property management in Ventura CA contact Utopia Property Management today by calling us at (800) 294-4656 or connect with us online.