Owning vs Renting Your Propane Tank

What’s the Difference Between Owning and Renting Your Propane Tank? 

Weighing the pros and cons of owning versus renting a propane tank is a key part of your propane journey. Each option has its perks and some trade-offs. Knowing the differences can help you decide what’s best for your home and budget. 

Renting Your Propane Tank

Renting is the hassle-free option. With fewer upfront costs and no need to worry about long-term upkeep, it’s a smart choice for homeowners who want simplicity and peace of mind. The propane provider handles installation, routine maintenance, and any necessary repairs — saving you time, effort, and unexpected expenses.  

Owning Your Propane Tank  

Owning gives you full control over your propane tank, but with that freedom comes added responsibility. From choosing a provider to coordinating maintenance, ownership puts everything in your hands. 

Pros of Renting Your Propane Tank 

Reliable Maintenance Support 

When you rent your tank, maintenance isn’t just included — it’s prioritized. Most providers follow a set schedule to keep your equipment in top shape. At Ferrellgas, we inspect leased tanks with every refill and stay ahead of potential issues, from rust to regulator wear. That means fewer surprises, less hassle, and one less thing for you to manage. 

Easy Service Transfers 

Moving to a new home? No problem. Ferrellgas makes it simple to transfer your propane service to your new location. And since the tank stays with the provider, there’s one less thing to coordinate during your move — no inspections, no selling, no surprises. Chat with us below or call 888-337-7355 for details. 

Minimal to No Maintenance Costs 

When you rent a tank with Ferrellgas, we handle all the maintenance for you. This includes regular upkeep like painting the tank and replacing first-stage regulators, so you can enjoy peace of mind knowing your equipment is always in top condition. 

Lower Up-Front Costs 

Buying a propane tank can be an investment; renting keeps that money in your pocket. While a one-time setup or swap fee may apply, you avoid the high cost of purchasing a tank outright. Renting gives you the freedom to get started with propane without a large financial burden. Questions about pricing? Our Customer Service Professionals are ready to walk you through it. 

Cons of Renting Your Propane Tank 

Minimum Annual Usage 

Many propane providers set a minimum annual usage requirement to keep service running smoothly. This isn't about locking you into something you don't need—it's about aligning your service with the fuel demands of your home and appliances. 

If your usage drops significantly, your provider may reach out to review your setup. This can be a good time to check that everything’s working as it should and that your service plan still fits your lifestyle. 

Supplier Commitment 

Since propane providers maintain ownership of the tanks, renters purchase their propane through the provider they rent the tank from. This kind of partnership ensures consistent service and maintenance by a team that knows your system. 

Annual Lease Fee 

Most rental tanks include a small annual lease fee, but it’s money well spent. At Ferrellgas, that fee helps cover routine inspections, safety checks, and system upkeep so your tank stays in peak condition without the extra hassle. 

Pros of Owning Your Propane Tank 

Can Be Installed Underground 

Prefer the look of no tank? When you own your propane tank, you can have it installed underground. Installation of an underground propane tank is a job only for trained installation technicians. Chat with us below or call 888-337-7355 to learn more about having an underground tank installed. 

No Minimum Consumption Rates or Rental Charges 

Owning your tank means no minimum consumption rates or rental fees, but that cost is often replaced by maintenance expenses and inspections, especially over time. 

Flexibility in Choosing Your Provider 

Owning your tank gives you the flexibility to select the propane provider that best fits your needs. At Ferrellgas, we offer convenient service options, such as Auto Fill and Digital Tank Monitoring, a reliable nationwide supply network, and great service 24/7/365. 

Cons of Owning Your Propane Tank 

Higher Upfront Costs 

Buying a propane tank can be a significant initial investment. However, this cost may pay off in the long run if you stay in your home for several years. 

More Maintenance Responsibilities 

While Ferrellgas inspects all tanks with each propane fill, tank owners are responsible for all maintenance, including inspections and repairs. If your tank does not meet safety standards, propane providers reserve the right to deny service until the system is repaired or replaced. If inspections, testing, or repairs are required by federal, state, or local laws, regulations, or ordinances, the tank owner must cover those costs. 

Tank Price Negotiation  

If you sell your property, selling your propane tank could add complexity to the process. You'll likely need a written statement from your propane supplier to confirm the current propane price and amount of propane in the tank. 

Looking for a reliable propane provider?   

Whether you own or rent your tank, choosing a provider you can count on matters. With a nationwide supply network, Ferrellgas delivers propane where and when you need it, keeping your home running without interruption. Get in touch today to explore your options and find the service that fits your life. 

 

 

Ready to make the switch to Ferrellgas?

Contact Us

References/Internal Links 
Budget Billing 
Buying a House with a Propane Tank: A Homeowner's Guide 
Ferrellgas FAQs