Pros/cons of Propane Tank on Rental Property?

Question

We are looking at buying a potential investment property that has septic as well as a propane tank. We have discovered some of the downsides to septic (having to replace a full system now!) but am curious as to any opinions regarding the propane tank? This is first property that will have one so I am ignorant. Thanks for the help.

JD Martin · Answer

Not much, really. Unless the tank gets a leak it never ends up totally empty, so you'll need to dispose of it carefully and professionally, but otherwise there's nothing inside to cause environmental concern as far as leaking on the property. Contact your local propane company - there will be one somewhere - and they can tell you how much they will charge to remove it (most of them will do this work or sub it out, as they rent these tanks out too).

Tim Herman · Answer

@Jessica Lindner it's a utility, just like any other. The only difference is the tank most likely rented. Mine is $50 for a 5 year rental. Fill it with propane just before you rent it and the tenant has to fill it when they leave.

Pros/cons of Propane Tank on Rental Property?

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