ARE YOU CONSIDERING LEASING A FURNACE OR AIR CONDITIONER?
The 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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