VWB Blog Renting a furnace in Toronto could be a suitable choice for your home if you live in a rental property. You can also rent a furnace for your home if you’ve just completed the home purchase process and want a more affordable way to utilize a heating system. However, there are some tips to keep in mind when you want to rent a furnace. When you’re aware of the various steps required to acquire and continue to use the furnace, you’ll be prepared for the rental agreement.
The winters in Toronto can be intense, so having a quality furnace and heating system is essential for keeping your loved ones warm throughout the season. Furnace rental is also an environmentally friendly way to heat your home. With the new technology that has been incorporated into the furnaces, you can save on fuel costs and choose furnace models that are energy-efficient. You’ll also save a considerable amount of money on your energy bills each month, which is a plus for many homeowners.
Of course, the cost of the furnace is a huge concern for most homeowners as well. If you decide to purchase a furnace outright, you could be paying thousands of dollars. Most furnaces cost around $4000, but you can find some quality models for around $3500. However, if you rent the furnace, you’ll pay a much smaller fee each month to keep the furnace in your home. You’ll have to sign a contract that can last anywhere from 10 to 15 years and paying for the furnace will be your responsibility as long as the furnace is on your property. If you decide that you no longer want to use the furnace or move to a different home before the end of your contract, you’ll have to buy out of your contract, which means you’ll still have to pay for the remainder of the contract, often all at one time. Keep in mind that while furnace rental is more affordable on a monthly basis, you’ll pay much more for the furnace by the time the contract is over or you move out of your home. On average, you’ll pay about $100 a month. This means that by the time you turn the furnace in, you will have likely paid about $15,000 for renting the unit.
Maintenance costs are another reason people choose to rent their furnace equipment. Some rental contracts cover the cost of repairs or replacement if your furnace stops working properly. Be sure to go over the contract in detail with your furnace supply company so you’ll know what you can expect to pay, if anything, when it comes to furnace repair.
Be sure to read all the terms of your contract and compare prices and services before selecting which Toronto furnace company will supply your furnace rental. You should also ask questions about the installation process and talk to furnace contractors about the furnace models and features that would be best for your home.