Canadians: Are you stuck with your hot water heater rental?

[Nudel]

I'm sure that this unit I now own has depreciated to $0 but at least I had a buy out option where before I had no option to do anything other than pay almost a grand to get out of the contract. Which I never signed by the way. It was assumed that when I moved in that I also assumed the rental contract. What a rip-off. It's not like I rent my fridge and stove...

After much digging on the rental company website I found updated fine print that noted a buy out option. Thank you Competition Tribunal! http://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/eng/03520.html I'll be watching for updates from the Competition Tribunal.

Best wishes to all who want to be free of the tyranny of the water heater rental. You'll only need about 15 mins on the phone to get through it all.

[GuitarStv]

We own our hot water heater . . . it's 20+ years old and on it's last legs, but is still working fine.  I keep waiting for it to die so I can replace it with a more efficient model (have been waiting since we moved in 3 years ago) but the thing is a beast.  To hell with paying rental fees for a hot water heater, what a phenomenal waste of money!  Last that I worked it out, 5-6 years in a place makes it more cost effective to buy outright.

[Togoshiman]

We forgot to ask when we bought our house.  The water heater is plastered with warnings, 'This is a rented machine', etc.  I called every one of the six phone numbers on the side of the thing (gas installer, water heater maker, water heater installer, water heater maintenance and service, rental company, etc. etc.) and not one of them had any record.  The sellers couldn't even remember if they had bought it.  After five years in the house, no one has come knocking.  I'd almost relish the fight I'd have if anyone ever attempted to collect on me (statute of limitations, my name not anywhere on a contract, etc.)

But yeah, I'd buy the damn thing outright just to not have anything hanging over me.

[KimAB]

You are renting a water heater?  I have NEVER heard of such a thing!

[dragoncar]

Now I reknow Canada real estate be crazy.  These things are like .001% of the home price right? How did this become a thing?

[KimAB]

What happens if you don't pay?  They repossess it?

[strider3700]

Lots of places push them. We brought a pro in to replace my parents gas water heater (I don't touch gas lines I hear it's not legal for me to do so anyways)  when it leaked and I saw the advertising on the side of his van and asked about it he said it was the best thing going.  Assuming the heaters dies before or right at the end of it's warranty  you'll get it replaced for free and come out ahead.  If the things last twice as long as expected you'll pay more then it would have cost to have it installed and own it outright.    Installation of the gas water heater cost almost as much as the new heater.  I was quoted roughly the same for an electric install which is trivial to do if you're at all handy so DIY wins over paying for anything to be installed.

[GuitarStv]

Now I reknow Canada real estate be crazy.  These things are like .001% of the home price right? How did this become a thing?

This is a very common thing in Ontario.  It's pretty unusual to not be renting your water heater here.  Even if you no longer have a mortgage on your home.  Almost all new and resale houses come with a hot water heater installed that is rented from your gas provider.  They push it by indicating that they will always have someone available on call should you have problems with the heater, and most people just go along with it.

[ThatGuyFromCanada]

You are renting a water heater?  I have NEVER heard of such a thing!

Me either... can you rent a furnace too?

[GuitarStv]

You are renting a water heater?  I have NEVER heard of such a thing!

Me either... can you rent a furnace too?

Yep.  I've noticed the gas companies are starting to try and push furnace rentals along with the water heaters.

[kdms]

Now I reknow Canada real estate be crazy.  These things are like .001% of the home price right? How did this become a thing?

It varies from province to province.  I grew up in Ontario, and the tank was rented.  When I moved to BC and bought my first home, the tank wasn't rented.  Not at all common in BC to rent appliances.  When I moved back to Ontario 10 years later, I didn't read the fine print on the sale documents closely enough, and sure enough, there was a clause buried in there that spelled out that I was taking over any existing appliance rentals.  I had the thing removed 5 days after I took possession of my current home and not only did I get stuck with 5 days worth of rental, I had to pay the company to take the thing away or run the risk of getting charged for damage to private property.... what a crock.  Why would I keep paying $15 a month for a 20-yr old inefficient (and small) tank when I can pay $300 for a brand new bigger tank that has a 10-yr warranty on it?  Really, the tactics some of these companies use to rope people into agreements are something else....

[Rural]

I  can't imagine such a thing. Here, it's buy one at a home improvement store (our 50 gal heater was just over $150 two weeks ago when we got it), put it in your truck, take it home, hook it up, take a shower. Forgive the pun, but rinse and repeat when it dies. :-)