I inherited a Ranco with a rescue and it seems to be working great on my quarantine rack.
I haven't had any errors or failures with it yet.
It replaced my budget Hydrofarm and it is much more accurate. It sustains a 1 degree shift in temp before turning on and off versus the Hydrofarm's 3 degree difference.
For an On/Off, I would say its much better than a Hydrofarm.
While my Ranco works great, I personally wouldn't have bought one for myself. The only thing that I like about it is that a power strip can be directly wired into the unit.
Overall, I recommend just starting off with a Herpstat. It will save you money in the long run.
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