Thinking Of Leasing a Furnace/AC? It Could Halt The Sale Of Your Home

By
Real Estate Sales Representative with BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE

ARE YOU CONSIDERING LEASING A FURNACE OR AIR CONDITIONER?

furnaceThe cost of buying a new furnace or Central Air Conditioning can be a large expense especially if you have to buy both furnace and AC.

Although the new high efficiency units can save you money over time, the initial expense is not something everyone can afford.

Thus, renting Furnaces and Central Air Conditioning units has become popular in recent years.

The one thing consumers should be cautious about before signing that rental agreement is to read the fine print.  Most agreements that I have seen are open ended agreements, which means there is no ending date.

This means you are stuck paying the monthly rental fee for the life of the furnace/AC, which can end up be substantially above the cost of the units.

Another thing you should consider carefully is the buyout of the units.  This can also be very costly, especially if you are thinking of a buyout in the first few years of your agreement.

High efficiency unit can save you substantially on your energy bills.

The high efficiency furnaces are so well made now you can get one with a 95% efficiency rating. What does mean to you?

This efficiency converts to more $$$$’s  in your pocket on your monthly energy bill.

So, if you are thinking of renting a furnace or central air conditioning, please take the time to read the contract very carefully before you sign, and know exactly what you are getting in to.

If you are planning on selling your home, please ensure your realtor is aware of these rentals…. it is your responsibility as a home owner to buy out these units and provide clean title to the new owner if they are not willing to accept the terms and conditions of the rental units.

Listing agents, do your due diligence when you list a property.  Ask the Seller if they have any rental items, and ensure it is posted on the listing so buyers are aware.

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Mississauga and Streetsville Real Estate


When you choose me to handle your real estate needs, you choose a real estate professional who cares about you and your family, who listens to your needs and who will put your interests first and foremost. I will work together with you, protecting your interests, to achieve your objectives.

I have been uniting families and homes for more than 31 years.. Let me put my 31+ years of knowledge and experience to work for you when selling or buying your next home.

 

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Ontario Peel District Mississauga Streetsville
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Rainmaker
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Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Gloria, wow, have never heard of this, and will need to google and see if this is happening around Denver.

Jan 17, 2017 12:48 PM #1
Rainmaker
520,916
Gloria Valvasori, Accredited Senior Agent
BETTER HOMES AND GARDENS REAL ESTATE SIGNATURE SERVICE - Mississauga, ON
REAL Experience | REAL Commitment | REAL Results!

Hi Joan, this has been going on for several years  in this area... door to door salespeople preying on people to convince them to rent a furnace rather than outlaying a large sum to purchse a new furnace.  They are open ended contracts that run for the life of the unit... its shameful.. and when it comes time to sell the home, it creates a problem if the Buyer does not wish to assume this contract... The buyouts are more than double the cost to buy a new furnace...

Jan 17, 2017 03:35 PM #2
Rainmaker
1,337,031
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

That's really stinky!  Something to think about when buying a home in your area.  Here it's PV systems that are leased that can cause potentially problems with a sale.

Jan 21, 2017 04:48 PM #3
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Rainmaker
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Gloria Valvasori, Accredited Senior Agent

REAL Experience | REAL Commitment | REAL Results!
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