That small line on your gas bill — the one that says "water heater rental" — is easy to ignore. It comes out automatically every month, and most homeowners have no idea if they're paying a fair rate or getting taken advantage of.
Here's how to find out — and what to do if you're overpaying.
A fair tank water heater rental in Ontario costs $21.99 to $34.99/month depending on the size. If you're paying more than $40/month for a standard tank, you're likely overpaying.
| Unit Type | Size | Fair Monthly Rate | Red Flag Rate |
|---|---|---|---|
| Tank (Chimney Vent) | 40 gal | $21.99/mo | Over $35/mo |
| Tank (Chimney Vent) | 50 gal | $25.99/mo | Over $40/mo |
| Tank (Power Vent) | 50 gal | $34.99/mo | Over $50/mo |
| Tankless | Standard | $37.99/mo | Over $60/mo |
Without naming specific companies, the pattern is consistent — large national rental companies that acquired thousands of rental contracts from Enbridge and other utilities often charge rates that haven't been competitive for years. Some Ontario homeowners are paying $55–70/month for a basic 50-gallon tank that should cost $25–30/month.
Yes — but check your contract first. Most rental agreements have a buyout clause. If your unit is older than 10 years, the buyout is often minimal or zero. Call your current provider and ask: "What is my buyout amount?" Then compare it to switching costs.
Our tank water heater rentals start at $21.99/month for a 40-gallon chimney vent unit — fully installed, with 12-year full parts and labour coverage. We handle removal of your old unit and return it to your previous supplier if needed.
GT Home Services provides tank water heater rental across Ontario including:
TSSA certified · Same-day installation · $0 upfront on rental · 4.8★ 130+ Google reviews
Call (647) 677-0037