Propane Tank Ownership...Do you own the tank at your property or does the company?

In this video I share with you about tank ownership. Do you own the propane tank at your property or does the propane company. This is important to know because it effects your price.

[@wandahelmer1038]

I purchased my 1000 gallon tank out right.

[@mamashalldo]

That’s great! We have a 1000 gallon too. I like to not worry about the supply over the winter. I like to be prepared🥰

[@davemoulton2971]

There are several things to consider IF you want to buy your own tank! 1) check with your homeowners insurance to see if the will cover the liability of ownership. If there is ever an leak and a fire or explosion, you may be on the hook for any and all damages to your house and those of your neighbors. 2) there are periodic maintenance items you will be responsible for. Above ground tanks that are 100 gallon capacity, can either be DOT or ASME tanks. DOT tanks require recertification 12yrs from date of manufacture. That recertification can be for 5yrs or 12yrs depending on what is done. The 12yr can be very expensive as the tank must be removed and recertified by one of only a couple companies. The 5yr can be done on site but will have to be certified by a licensed gas tech and will have to be redone every 5yrs until a 12yr recertification is done. ASME tanks don't require any recertification but should be inspected every 5yrs. All above ground tanks larger than the 100gallon are ASME. Any underground tank is an ASME but they require a cathodic test be done every year to prevent corrosion of the tank and possible leaks. This must be done by a licensed gas tech. 3) when you own the tank it is your responsibility to mark the underground lines if there is a dig safe required for any construction on the property. When the tank is owned by the company all these items are the responsibility of the company that owns them! Also underground tanks can be sold from one company to the next should you change companies. That sale is worked out between the 2 companies. Some will buy and/or sell and some won't!

[@mamashalldo]

Thank you, Dave! Lots of great information!

[@dontbanmebrodontbanme5403]

Great info. I didn't realize all 100 gallon+ tanks are ASME. I'm in the middle of getting a whole house generator installed and was shocked by how much they wanted to charge for the 500 gallon tank. I was told, "Well it's ASME, that's why". Good to know that his point is bogus. One point to add to your post is if you're getting a tank just to power a generator, many companies won't want to rent to you and you have to buy it. Why wouldn't they want to rent it to you? Simply put, you're not going to be using propane in large enough volumes for them to make their money back. They make money on the sale of propane, not on the rental. The rental might be $75 a year, but when then sell you the propane, if they own the tank, you're forced to buy at their price and it will be higher per gallon. Let's say a $1 more per gallon. A 500 gallon tank, for example, holds 400 gallons of propane, since propane tanks are only filled to 80% capacity. Let's say you're like me and on an average year, you lose power maybe 10 times, each time for a day and once every two years, you have an event where you lose power for three days. Maybe once every 5 years, you loser power for 5 days. Even if you add in the weekly 10 minute maintenance runs, I might go 3 years before finally needing another fill up. Assuming I pay $400 more every fill up, it's going to take a very long time before I've paid off that tank and the propane company is making money. Until then, they're losing money on that tank. Just an fyi.

[@mamashalldo]

Thanks for sharing. There are 100 gallon DOT tanks. But above that it is ASME.

[@mariagdesjardin1000]

Thank you! I've been leasing the same tank for over 30 years, and now want to buy my own. Although the old tank in my yard has changed hands several times due to buyouts and mergers, and some companies have been better than others, it was never bad enough to be worth the hassle of installing a new tank, so I just rolled with the flow. NOW I'm fed up and want to make the jump, but there don't seem to be any available this winter. Should have done it years ago at my leisure, haha! Anyway, I'm hopeful that this tank shortage will soon blow over like previous problems with TP, baby formula, tampons, lettuce, etc. and THEN I won't be held captive any longer by a single distributor : )

[@mamashalldo]

I didn’t know there was a tank shortage, but it doesn’t surprise me either🙃. I’m looking forward to your new season of tank ownership as well!

[@10469]

We are going through this right now.. we are new to propane and the company that was filling it threatened us to take the tank if we didn’t fill out a contract. I’m shocked and surprised how they acted. So I’m right now looking to buy my tank. I’m not comfortable knowing that someone can just come take the tank?

[@mamashalldo]

I am sorry you are going through this:(. It is very challenging at first in the world of Propane...there just isn't anything quite like it! It is normal for a company to require for you to sign their contract. They need for you to agree to the terms of the use of the tank, and their other company specific items...like late fees, pick-up fees, order requirements...etc. Without that contract they can not hold you to any of their expectations, and they really can not do business like that. So, it is understandable on their part...but it is also understandable that you do not want to sign their contract. I personally, prefer having my buying power and do not mind the responsibility of the tank. Everyone has their own opinion on this, and that is ok:) Generally, companies are considerate when removing tanks. Key word "generally". Hopefully, they will consider selling you the tank at the location. Do make sure the tank is in good condition if you choose to buy it. Good luck:)

[@10469]

@@mamashalldo thank you for the reply. But it is our summer home and we are not up there that much. So they claim the contract was sent in the mail. So when I go up to check nothing is in the mail box? I called the post office to check and they say everything is ok with the mail. So I called them to explain we are seasonal folks .. “for now” this is the retirement place for sure. Im just getting things ready until that day comes. Im a city person and I just can’t wait to leave. But it’s ok I can afford the tank no problem. It’s just the thought of someone just taking something from your house that you have no control over. Thanks for the video it’s very informative for new folks like me I’ll keep watching.

[@mamashalldo]

@@10469 Thank You 😊

[@10469]

Any companies you recommend to buy tanks from up north?

[@mamashalldo]

Unfortunately, I don’t have any personal knowledge of particular companies up north. I would recommend calling all the local propane companies that would service your location and ask about pricing on a purchased tank. They will need to know the size of tank. There are some companies out there who do not sell tanks, but most do.

[@10469]

@@mamashalldo ok thanks

[@mamashalldo]

@@10469 you’re welcome:). Good luck to you!

[@princeg6864]

Good video, thanks

[@mamashalldo]

Thanks!

[@ippolitius]

Been trying to figure out how to buy a 420# tank. These propane companies like to keep the cost of a tank secret, and the mysterious cost to install.

[@mamashalldo]

I know some companies do not sell tanks as a rule, others don’t like to sell tanks. If the company you are working with won’t give you a price I would call another company. Often times, companies need to come see in person to quote a installation price…so that may be required to get a precise cost on installation. Good luck to you!

[@tommussington8330]

#bobbyjines Were do you live? the Amish stores around me in North Central Pa have them for sale not cheap a 500 gallon one was just under $3000.00 a 100 gallon one was about was around $1800 to 2000.

[@mamashalldo]

Sorry I missed this until now…I’m in south central Pennsylvania. Did you ever find a tank?

[@comodice905]

Sweet cheeks what if tank takes a dump you gotta pay for another one they charge 3 cents more per gallon when they supply tanks

[@mamashalldo]

3 cents more per gallon when they own the tanks is nothing I have ever seen. Maybe as a introductory offer. I would be suspicious of this if a company told me this information. There are a couple companies I know of that do not fill customer owned tanks because they can’t make as much money and they have no control over the customer. A lot of companies are very concerned with how customer counts look to shareholders. Remember those tanks cost the supplier money too and they need a greater return when they have an investment sitting at your location. When the customer owned the tank the company has no asset or finances tied up. The tanks do have a very long lifespan as long as they are properly maintained. The tanks are built to a very high standard there could be a fluke situation but it is more likely for a problem with a fitting or regulator than the actual tank…especially a ASME tank. Of course, this is a risk one would take. I can tell you that my 1000 gallon tank has already paid for itself in the 3 years I have owned it. I buy 600-800 gallons of propane a year, depending on how much wood I burn. The price I pay is considerably less than someone using a company tank with the same usage.

[@comodice905]

@@mamashalldo dam I luv ❤️ u......

[@mamashalldo]

Haha well thank you🙃

[@comodice905]

@@mamashalldo thank u. Bikini 👙 vid would bee stellar

[@mamashalldo]

Haha. I have no intentions of ever wearing a bikini. 🙃

[@Michael-hg2sq]

I own my tank.

[@mamashalldo]

That is great:)