Change furnace and A/C rental agreements offered in Ontario
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My aging in-laws were convinced to enter a rental agreement with Reliance Home Comfort for a new furnace and A/C Unit. They paid $186 per month for 3 years and recently due to their age, were required to sell their home and move to a retirement facility.
No one buys a home with such an equipment rental agreement in place. Thus, the rental contract had to be bought out at a cost of $8100, which included $985 HST charge. In total, the cost of the furnace and A/C rental agreement and buyout amounted to approximately $15,000. This represents 3.5 times the cost of the equipment.
It is essential that the Provincial Government of Ontario outlaw this type of business practice to protect the vulnerable in our society. The current cooling off period is not working and needs to be overhauled to disallow this rental practice.
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