Renting vs Buying

There’s more than just the purchase price to consider when making the decision between buying or renting a water heater. There could be additional costs in money, time and peace of mind. Here are just a few to consider:

Your Money

  • Installation Fees – included when you rent*
  • Diagnostic Charges – included when you rent
  • Parts and Labor Costs** – all included with your rental.  It can cost as much as $697 to replace a gas valve if the tank is owned.

Your Time

  • Spent searching for a reputable contractor to install and repair/service the tank if owned.

Peace of Mind if you rent from Direct Energy

  • SAME DAY SERVICE^ – Call before 5 pm and we’ll be there.
  • HIGHLY-TRAINED – 700 Licensed Technicians
  • COMPETITIVE – Monthly rental rates
  • RELIABLE – Fast and Reliable Service
  • NO CAPS – On the Number of Repairs
  • PROTECTION – Parts and labor Coverage for repairs
  • STABILITY – Of one of the largest Home Services Providers in North America
  • SUPPORT CENTER – 24/7 ready to take your call
  • TRANSFERABLE – To the next owner should you sell your home

We are committed to providing competitive rental rates, consistent and reliable service and striving, every day, to delight our customers.


* If existing venting or piping is not suitable for installation or if changes are required to meet gas code requirements, additional installation and material costs will apply and are payable by the customer.

** Some limitations apply in the following circumstances: i) if damage is caused by customers, ii) repairs are necessary because of use for which the water heater was not intended, iii) if water heater requires flushing, de-liming or other repairs from hard water conditions, or iv) where venting or piping requires cleaning, repair or replacement.

^Available to Direct Energy rental water heater customers whose equipment is not operational (i.e. – no hot water). On average Direct Energy attends to furnace, air conditioner or water heater non-operational calls 90% of the time the same day.

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26 Responses to “Renting vs Buying”

  1. Lincoln Dolbear says:

    Hi, I’m thinking of purchasing a water heater unless i can get a better rate monthly. Is this possible as i know some people who are paying 8.99/month and i’m paying 14.99. Thanks.

    • Dave says:

      Hi Lincoln,

      The rate is most likely different because the type of tank is different than yours. Give us a call and we can pull up your information and see if we can work something out. Our number is 1-800-493-3034.


    • Peeved in PTBO says:

      Your complaining about 14$
      The are charging me 29$

  2. Joseph Trivato says:

    Competitor is willing to change old water Tank
    & replace old tank with no charge to new venting
    Requirements and pay the same monthly rate
    as I am paying today.
    Please respond as I will be away for the next two
    Weeks , back Oct 30 th

    • Dave says:

      Hello. We would be happy to look up your account information and provide you with your options. We value our customers and we would be happy to work with you to keep you as a customer. Please call us at 1-800-493-3034.

  3. Linda Pritchard says:

    I have rented my tank for almost 12 years now. I have never had it
    serviced. I have my furnace serviced annual. Do I need someone to come in & have a look at the tank to make sure it is operating the way it should be.

  4. Ally says:

    Hi Dave I am renting my electric water heater, I am thinking of switching to gas water heater, can you tell me the cost…what is your advice?

    • Dave says:

      Hi Ally,

      You can give us a call at 1-800-493-3034 and our team of experts can help you with the costs.

      Thanks for your inquiry.

  5. Vic says:

    I will be needing a new electric water heater at my cottage (near Bracebridge) next summer. Cottage only used 6 months a year. Can I rent for up there? Would I pay rent only for 6 months a year?

    • Dave says:

      You can give us a call at 1-800-493-3034 and our team of experts can help you with the costs.

      Thanks for your inquiry.

  6. Paul Murphy says:

    I am a customer in Barrie in a new subdivision and have a gas water heater for about 5 years. National Home Services has sold my wife on a new energy star water heater to be installed in about 7 days. Having done a little research I am not comfortable with the way this was handled or the deal they have given us.
    At this point they have not disclosed the term although the monthly rate is cheaper and 100 % warranty coverage for the life of the agreement and $100 rebate on our gas account plus install and return of our existing tank. I have no reason to go through this other than the cost is cheaper and the new water heater is “energy star certified” which my entire home is certified.

    What can you do for me ASAP?

  7. Babu Mootheril says:

    Hi Dave,
    I had a waterheater of 4 years old from Direct Energy.I want to upgrade it with more capacity and high efficiancy.I was told to buyout the waterheater.Is there is any option to take back that waterheater and replace with another,adjusting the byout price.What should I do.please suggest.Thank You.

    • Dave says:

      You can give us a call at 1-800-493-3034 and our team of experts can help you with your questions.

      Thanks for your inquiry.

  8. deta says:

    I Dave ,I would like to know ,how much will cost me to rent a water tank(gas)small (20)galon??.

    • Dave says:

      Hi Deta,

      A 20 gallon conventional vented tank currently rents for $13.99 a month. Give us a call at 1-800-266-3939 for more details.


  9. Arlene North says:

    I am currently spending $350.00 per month on hydro in my ranch style bungalow and the neighbour next door in an identical brick bungalow and he spends $156.00 a month. I think the hot water heater could be the culprit as we have well water with a high mineral count. I think the heating elements are probably coated pretty bad. Could you email me. Thank you, Arlene North.

    • Dave says:

      Hi Arlene,
      I removed your phone number from this post for privacy reasons but we will have someone call you and come out and take a look.

  10. Heike Koch says:

    Hi Dave,
    I own the water heater in my house –
    the house was build in 1995 and it is the original water heater –
    I don’t have any problems with it, BUT most of my neighbours,(the houses were all build around the same time) have replaced their water heater.
    My questions to you: how do I know if it is time to replace my water heater?
    What is the cost of the monthly rental?
    Will the old heater be removed free of charge?
    I am a senior and peace of mind is very important to me –
    Thank you very much in advance –
    Heike Koch

    • Dave says:

      Hi Heike,
      Those are difficult questions to answer without giving very broad answers and I don’t want to do that. You would need to have a licensed technician look at your tank and provide you with your options and advice on what you should consider doing. Your tank may not be energy efficient, you may have hard water in your area that affects the tank’s operation, the tank might not meet your hot water needs, and so on. There are many factors to consider. Give us a call at 1-866-447-8703 and we can help you out.

  11. Anthonuy says:

    I think it is very important to consider renting vs owning. Renting is always more expensive in the long run. If we take the very conservative example of a traditional gas heated tank at $14 per month this will cost $168 per year and a whopping $2520 over a reasonable life expectancy of 15 years. So, you are paying at least $1500 in financing over 15 years.

    Only the individual homeowner can answer for themselves whether the “peace of mind’ rental is worth it.

  12. Danny says:

    just make sure you are using gas not electricity to heat your water. Tankless is actually best for savings.

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