Should a Rental Have a Tankless Water Heater

Philadelphia rental property manager

In Philadelphia property managers, landlords and HOAs are beginning to clamor for tankless water heaters, since most residents would rather have energy-efficient upgrades. However, you need to first understand the upfront costs of water heaters.

Here are some pertinent information on tankless water heaters before you make that switch with your Philadelphia rental properties: 3 Ways For Philadelphia Property Managers and Landlords To Stay Ahead Of The Competition

  • They cost more. A traditional tank can go for $300-$600, however, tankless systems ·can go for as high as $700 – which is just the unit cost. 
  • They’re more expensive to install. The installation of tankless systems is not a skill possessed by every Philadelphia plumber. And those with this skill will charge more for their services.
  • You can offset some of the cost through federal/state tax rebates including other incentives provided by utility providers.
  • Tankless systems take more time to heat since water is not being heated continuously; rather the water is only heated on-demand. Some tenants may feel this is inconvenient.
  • Energy savings. Since you’re not constantly heating water, you can save 22% and above on your energy bill with tankless systems.
  • Tankless systems are made to last longer – about 20 years, compared to traditional water heaters which only last for an average of 7-10 years.
  • You can save space by converting to tankless. And this can be monetized and converted as laundry, on-site storage, and other rental space amenities. 5 Tips For Landlords for A Stress-Free Winter

Make sure you do proper research on tankless heaters before you make the decision to replace yours. An expert Philadelphia property manager is equipped to evaluate these as well as other ROI-enhancing updates in some real-world-based property assessments.

All you need to do is use this site to get information and free quotes from Philadelphia’s top-reviewed property management company.


Joe White

Joe White is a Philadelphia Property Manager and Real Estate Broker. He is the owner of Grow Property Management and has been involved in the management, sales and purchases of Philadelphia area rental investment properties since 2008. He is an author and works as a real estate investment consultant and construction manager.

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