Here Are the Pros and Cons of Owning or Renting Your HVAC System’s Fuel Tank
What do your home, car, furniture, and cell phone all have in common?
You can either own or rent any of them. Depending on your budget and lifestyle, either option could make more sense.
The same is true of your home’s propane tank. There are benefits and drawbacks to both owning and leasing a tank. At Koppy’s Propane, we have over 75 years of experience helping Pennsylvania homeowners power their HVAC systems with propane. In that time, we’ve learned the pros and cons that might help you decide the best option for your family.
Pros and Cons of Owning Your Propane Tank
Just like with your home, owning your propane tank means you’re in charge. This has its benefits:
You can switch propane suppliers if you want.
You have a wider selection of tank choices and are not limited to the brands that your propane supplier carries.
You select who services your equipment. You can perform the maintenance yourself or hire a professional of your choice.
That level of control might be what you’re looking for, but owning a propane tank also comes with downsides:
You have to oversee – and pay for – installation and maintenance, including repairs and new parts.
You must handle periodic tank recertification according to local and state laws.
If your fuel usage changes, you will need to replace the tank yourself, which can cost thousands of dollars.
Pros and Cons of Leasing Your Propane Tank
As you can see, owning your tank leaves you on the hook if something goes wrong. That’s why many Pennsylvania families prefer to lease their tanks. Some pros to leasing include:
Your propane supplier generally installs and services the tank at their own cost. They can also verify precisely how large a tank you need.
Your supplier will replace your propane tank if it no longer meets your home’s needs or ages out.
Many suppliers provide preferred fuel rates or other benefits for customers who lease a tank.
There are also cons to leasing a propane tank:
Leasing a tank means that you’re bound to your propane supplier.
Some suppliers charge a termination fee if you stop leasing with them.
While everyone’s circumstances are different, many Koppy’s customers lease their propane tanks. Our fully licensed and certified technicians seamlessly provide installation and maintenance. This helps with our customer’s budgets and offers excellent peace of mind.