Should I Lease My Propane Tank?

Pros and Cons of Owning or Leasing a Propane Storage Tank

propane tank lease

Typically, when folks think of propane tanks, they picture the 20-pound cylinder that you hook up to a grill. In that case, the idea of a leasing a tank may not make sense. After all, you simply get it refilled or exchange your empty tank for a full one. There’s no formal agreement, other than maybe a security deposit at most.

But when it comes to residential propane tanks, there’s a bit more involved—including the decision of whether to lease or buy your propane storage tank. Whether you’re a new homeowner who has never lived a home with propane, or you’re thinking of making the switch to propane, the team at Depew Energy can help you understand all your options when it comes to leasing, choosing, and installing a tank for your home.

The Benefits of Buying a Propane Tank

The only real benefit of owning a tank is that you aren’t obligated to buy your propane from the owner of the tank. Don’t like the service? Take your business elsewhere! If you sell your house, you can include the tank in the sale—and the buyer can choose their own dealer.

Downsides of Owning Your Propane Tank

When you own your tank, you need to pay for regular maintenance and inspections, and you’re responsible for the repair of any leaks. 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.

You’ll need to pay for those services additionally. You’ll also have to pay to replace the lost fuel—something you wouldn’t be responsible for with a leased tank. And, if you ever need a bigger or smaller tank, you’ll have to pay outright for a new one.

The Size of the Tank 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 aboveground, 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.

The Benefits of Leasing a Propane Tank

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

Here in the Hudson Valley, there’s a reason homeowners trust the professionals at Depew Energy. We can make selection, installation, and maintenance of your tank easy as can be. And we’ll provide reliable propane delivery services, too. Contact us for more information today—and ask about our convenient wireless tank monitoring!