If you need to install a new water heater in a rental property that you own, you probably don't want to make the decision the same way as you would in your own home. This doesn't mean that you should give your tenants less than what you would want to live with but that rental properties have different needs. To protect your rental property investment and keep your tenants happy, consider the following things when you're choosing a water heater for your rental property.
Tankless vs. Traditional
Tankless water heaters are growing in popularity. As the name implies, they do away with the tank used by traditional water heaters and heat water on demand.
From a cost perspective, tankless water heaters cost more to install but last much longer and cost less to operate. Even if you make your tenants pay the electric and gas bills, high energy bills make for unhappy tenants who are likely to move.
From a capacity perspective, consider carefully if a tankless water heater is enough. A large tank might have enough reserves to handle multiple showers going at the same time, while a tankless water heater might only be able to provide hot water for one or maybe two bathrooms.
The state and federal governments frequently offer rebates for energy efficient appliances. Your local utility company may also offer incentives for going green.
Check for current rebates when comparing water heaters. The rebate may more than offset the cost of going with a more expensive model that will be more efficient and last longer.
Does your unit have limited amounts of closet or other storage space? This can be a major turnoff for many tenants.
If you choose a tankless water heater over one with a tank, you can take back the space the tank used as storage space. It's almost like adding an entire closet to your rental unit.
Gas or Electric?
While you might prefer gas appliances in your home, it's probably easier to go with electric for a rental. If you use all electric appliances, your tenants will only have one energy bill, and you won't have to worry about gas leaks and related maintenance issues.
Of course, if your existing HVAC system and kitchen uses gas, it's probably easier to use gas instead of doing a complete overhaul.
To learn more about selecting hot water heaters and other appliances that will make your tenants happy, contact a local HVAC company today.