What’s a Propane Tank Lease?

Posted: March 11, 2024

The Pros and Cons of Renting a Propane Storage Tank

propane tank Pitt County, NC When people ask us what it means to lease a propane tank, we compare it to refilling or exchanging your 20-pound grill tank. If you own the tank, you need to make sure it’s in good shape and not leaking. When you exchange, you don’t have to give it much thought—you know the tank has been checked for leaks and filled before you grab it. But when it comes to residential propane tanks, there’s a bit more involved. Whether you’re a new homeowner who has never run a home with propane, or you’re thinking of making the switch to propane, the team at Rand Wade can help you understand all your options when it comes to leasing or buying, choosing the right size, installing your tank safely, and keeping it full!

Benefits of Buying a Tank

The main benefit of owning a tank is that you aren’t obligated to buy your propane from any specific propane dealer. Don’t like the service? Take your business elsewhere. If you lease the tank and want to switch dealers, you’ll also have to replace the tank. And, if you sell your house and own the tank, you can include the tank in the sale—and the buyer can choose their own dealer.

Downside of Owning Your Tank

When you own your tank, you are responsible for maintenance, inspection, and repairs. It’s important to know that care and maintenance of a propane storage tank is not generally a DIY job, other than visually monitoring for corrosion. And, if you need a bigger or smaller tank, because your needs change, you’ll have to pay for a new one.

Why Size Matters

When it comes to propane tanks, size matters. If you outgrow your propane tank, you’ll need to order propane too often—or risk the cost and hassle of runouts. Getting a big tank means you’ll need fewer refills—and you may be able to avoid or lessen the sting from price spikes. But, a bigger tank is, well, bigger: you’ll need space to bury it. And if it’s above-ground, a huge tank can be less attractive. Today’s propane tanks are designed to withstand the elements for 30 years or more before they need to be replaced. Some aluminum and composite cylinders can last even longer. If you’re sure your needs won’t change, and you won’t need a larger tank in a few years, maybe it’s an investment you want to make.

Benefits of Leasing a Tank

When you lease a propane storage tank, all the maintenance is our responsibility. We’ll take care of regular inspections, too. Since it’s our tank, you can be sure we’ll take good care of it for you. And if your needs change and you need a larger or smaller tank, we can help you with that, too.

The only downside of leasing a propane storage tank is that you are committed to buying propane from the company you lease from. But when you work with a great, local company that puts customer service first, it’s likely you’ll be happy with your choice. There’s a reason homeowners in the Greene County, North Carolina area trust the pros at Rand Wade. We can make selection, installation, and maintenance of your tank easy, whether you want to buy or lease a tank from us. And we’ll provide reliable propane delivery services, too.

Contact us for more information today—and ask about our convenient automatic delivery service!