It’s important to understand that water heater rentals are really quite rare in most parts of Canada and North America. Ontario and generally the Greater Toronto Area is encased in this bubble of rental HVAC equipment. Prices for water heater rentals can vary substantially from under $10 a month to well over $50 a month understanding the equipment is vital to understanding the price. This understanding also ensures you aren’t being taken advantage of by a sales person or aggressive company tactics.
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Pros and Cons of a Water Rental Heaters
Pros
- No upfront cash needed to purchase a new water heater with installation
- Never any repair bills or warranty issues to worry about
- Buy your water heater out at anytime if you have extra money
- If you rent a tankless your maintenance is free while renting it
Cons
- You never own your system and will always pay for it
- Some companies make ending the contract expensive or difficult
- Rates typically rise while the water heater continues to age
Types of Water Heaters
Water heaters have advanced a lot over the past few decades; there are more ways of heating water now than ever before. You might be surprised at all the different option available to homeowners.
Expect roughly $30-$50/ month added to your electricity bill from an electric water heater here in Ontario. 
The main principal it works on is called the stack effect, basically warm air rises and this result will always pull the gases up and out of a home. 
Power vented systems are becoming very popular and probably installed more than any other rental water heater.
Installation is more restricted with this type of water heater and are not very common.
The lack of a storage tank removes the risk of Legionnaires disease as well as reducing your homes water heating bill but up to 40%.
The combustion gases are vented with a blower offering additional placement options and installation flexibility.
Typically you see the furnace side sized as 80K, 100K, and 120K Btu systems. The tankless uses around 199K Btu for on demand water heating purposes.
Gases are vented with a blower making for flexible installation and placement.
Learn more about the combi boiler (tankless and furnace in one) 
Water Heater Sizes
Now when you are renting a water heater the size of the system will definitely make a difference in the monthly fee you pay.
Your average home has either a 150 to 190 Liter tank (40-50 gallon). If you have a Jacuzzi tub or a large home with numerous bathrooms you may need to get into a bigger tank to meet your demands.
Not only does the size affect price but also the vent type. A power vented water heater is more expensive to rent than an atmospheric rental.
Here is a list of typical rental prices for water heater throughout the GTA.
| Size | Type | Rental Cost |
|---|---|---|
| 150L (40g) | conventional vent | $14/m |
| 150L (40g) | power vent | $20/m |
| 190L (50g) | conventional vent | $15/m |
| 190L (50g) | power vent | $21/m |
| 190L (50g) | direct vent | $19/m |
| 227L (60g) | conventional vent | $16/m |
| 227L (60g) | power vent | $25/m |
| 227L (60g) | direct vent | $19/m |
| 284L (75g) | conventional vent | $17/m |
| 284L (75g) | power vent | $19/m |
| 150L (40g) | Electric water heater | $10/m |
| 227L (60g) | Electric water heater | $11/m |
| Tankless | Power Vented | $30/m |
This is all just a rough example of what water heater rentals can cost but it’s important to remember the additional charges. Some companies charge for mixing valves, some charge a cancellation fee, then there is tax on all the above amounts.
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