Thoughts on when to replace Water Heater

[Ethan G.]

I have a rental house built in 2001. The water heater is upstairs in a closet (all of the upstairs is carpeted). I have heard the average life of water heaters is approximately 15 years so we are nearing the end of its life. We currently have a home warranty (through Old Republic) in place that would cover the cost of replacing or repairing the water heater should it break. The question is does it make sense to spend the money out of pocket now to replace the water heater before it actually breaks (for instance, if it does break suddenly, the water would leak all over the carpet upstairs). In general, do landlords of single-family homes pre-emptively make major repairs as items get close to the end of their expected life? Thank you.