Posted on: 10-09-10 15:05:38
Get rid of reliance as soon as you can ..
Cant write on forum much abt it
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Growing Old Is Mandatory ..Growing UP is Optional
Quote:The charge seems fairly standard.
Originally posted by RBO
I didn't call them but porbably my lawyer has transfer account with them but i am not sure? I am going to ask my lawyer today.
charges are follows:
Water heater rental : $30.59 / month for 3 months in advance together $149.01 with account set up fee and HST.
Is this charge are reasonable? if i paid this amount do i am going for contract with them automatically for next couple of years or what?
confused.......
If anyone know pls reply.
Normally, water heaters (and optional filters) are rented.
Unless the original owner planned to stay in the house for > 10 years, he/she would not have bought the water heater and all accessories fully paid.
Whoever buys the house, assumes the rental as well.
The lawyer would have arranged all the transfers.
If you like, you may call them and buy-out the equipments.
You will have to pay all the remaining balance - just like a mortgage.
There is no other way.
You either buy out the equipment or pay rental.
Or transfer it to some other company and pay rental to them.
Note that the rental or buy-out comes with warranty and maintenance.
There will be a contract that lays out the terms and conditions.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Quote:
Originally posted by pratickm
Quote:The charge seems fairly standard.
Originally posted by RBO
I didn't call them but porbably my lawyer has transfer account with them but i am not sure? I am going to ask my lawyer today.
charges are follows:
Water heater rental : $30.59 / month for 3 months in advance together $149.01 with account set up fee and HST.
Is this charge are reasonable? if i paid this amount do i am going for contract with them automatically for next couple of years or what?
confused.......
If anyone know pls reply.
Normally, water heaters (and optional filters) are rented.
Unless the original owner planned to stay in the house for > 10 years, he/she would not have bought the water heater and all accessories fully paid.
Whoever buys the house, assumes the rental as well.
The lawyer would have arranged all the transfers.
If you like, you may call them and buy-out the equipments.
You will have to pay all the remaining balance - just like a mortgage.
There is no other way.
You either buy out the equipment or pay rental.
Or transfer it to some other company and pay rental to them.
Note that the rental or buy-out comes with warranty and maintenance.
There will be a contract that lays out the terms and conditions.
Thanks Pratickm for reply,
I bought a Townhouse like 5 years old in Mississauga - FYI
I called the reliance company and they told me that previous owner has sent them our agreement copy which clearly stated that rental equipemnts will be part of our purchase that we are liable for contract with them and this i didn't notice......
Reliance told me that if i want to cancel with them than i have to pay $290 for cancellation ( $125 for removal tank + $125 for transportation charges + $40 cancellation fees)
What i am thinking if this rent charges are reasonable like $30.95/month than i don't want to disturb whatever we have.
pls give your expert advice.
thanks
One more important ceremony that you must do is housewarming party...
especially for the folks on this forum if not all at least invite the ones who responded to this post .
Quote:$30 sounds about right.
Originally posted by RBO
Reliance told me that if i want to cancel with them than i have to pay $290 for cancellation ( $125 for removal tank + $125 for transportation charges + $40 cancellation fees)
What i am thinking if this rent charges are reasonable like $30.95/month than i don't want to disturb whatever we have.
Mine is $25 I think, afte the HST.
As I said, you have three options:
- Continue to rent. This will be the monthly fee but gives you warranty, maintenance and repair.
- Buy-out. Ask Reliance for a quote and pay them the remaining balance for the equipment. You will continue to have warranty and service. It'll be a one-time hit but the monthly payments will stop
- Cancel it and get a water tank/heater from another company. It'll be the same drill - monthly payments or full payment.
I'm guessing another 5 years is left on the water tank payments (they are usually for 10 years).
If you plan to stay in this house for > 5 years, do the buy-out and you will save some interest.
If you plan to move soon, continue to monthly rental.
When you sell and move, the new owner will get the rental as part of the house (just like you did).
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
My water heater is $16.95/month. $30 seems very high to me.
If the lawyer did not sign a specific transfer, I think, it is not assumed automatically. Please call your lawyer and confirm.
Hiren
Rental Depends on size and type.
I am paying 20$ pm for a PV type heater and this is through direct energy on the original contract when direct energy took over from embridge for water heaters.
The costs are in the following order for cheaper to most expensive
1> Electric Water heaters
2> Chimney based
3> PV type with fans for exhaust on top of heater
4> Tankless heaters will be the most expensive.
New water heater contracts are more expensive than older ones.
Rentals are also based on maintenance cost of the water heater which is more for the expensive types.
Quote:
Originally posted by hchheda
My water heater is $16.95/month. $30 seems very high to me.
If the lawyer did not sign a specific transfer, I think, it is not assumed automatically. Please call your lawyer and confirm.
Hiren
