Home & Garden

national home services water heater - cannot cancel the contract until 5 years gone?

  • Last Updated:
  • Aug 12th, 2016 3:58 am
Tags:
Sr. Member
Jul 14, 2008
574 posts
57 upvotes
aquariaguy wrote: Little worried after reading this. My new house will be finished in a few months. How do I know what water heater I have and what company I'll be using ?
Ask whatever company to remove the tank prior to moving in, problem solved.

Or read your contract
Newbie
Dec 24, 2007
60 posts
19 upvotes
Toronto
Do not rent period!!!
It is a $1000 investment. In 30 years of ownership I never rented until the rental property I purchased came with one.
Take the small to minimal risk, if something goes wrong pay the repair fee and move on. It's a water heater very simple.
The other thing to know your builder is getting a kick back from the water heater company that he is working with which you will eventually assume.

I'm a builder and when a customer requests a rental unit, I get $150 kick back from most water heater companies.

good luck
Deal Addict
Oct 18, 2003
1564 posts
146 upvotes
Hi, i am hoping for some guidance with your experience in canceling the national home services water tank rental. The CSR told me that early termination fee of $140 + $65 for picking up the tank. They did not say anything about paying the additional costs or buying out so I am still confused so what other costs you had to pay
Deal Addict
Oct 29, 2010
4475 posts
811 upvotes
I rent a water tank and i've never seen NHS come of their own free will to maintain the tank. They do come promptly if there is a problem and don't charge anything for it though.

And OP, you asked why they only rent the water tank and not the AC/furnace. Sorry to tell you but some of the new developments also rent those too. I was looking at an assignment sale of a new build about a month ago and the owner was paying $70+tax for water tank/AC/furnace.
Deal Addict
Sep 5, 2003
1771 posts
372 upvotes
Toronto
Not to bump an old thread, but thought this was a useful thread for me, so I wanted to add what I learned.

NHS' assets were acquired by Reliance Home Comfort in May 2015, so all rental agreements that NHS owned are now administered by Reliance.

Hope that helps anyone who may not have known this!

We had a new build where the rental costs weren't transferred over to us until 14 months after Occupancy (we're lucky, the Developer screwed up and covered all cost up until that point). I found out our cost was $45/mth for a huge water heater that also heats our furnace... It is $600 to cancel before 5 years, $400 to cancel before 10 years, and no cancellation fee after that.
Deal Guru
User avatar
Jan 11, 2004
10408 posts
1123 upvotes
Toronto
flavioangela2002 wrote: Here are some tips on reasons why you should rent rather than own a hot water tank,

1) maintenance coverage
2) company damage liability
3) assurance and dependability
4) 24 hr service
5) parts and labor
6) free tank installation and replacement

Reasons you shouldn't own

1) if your house floods from your store bought tank, your responsible for your water damage.
2) warranty not as good as the ones major companies provide.
3) try and find parts for your tank when its warranty is expired.
4) tanks sold in most stores are not as energy efficient
5) a majority of store tanks are not glass liner
6) the maintenance ppl don't come yearly to check manifold pressure nor do they flush the system yearly,


Always rent your tank, doesn't matter how long you rent for, $25 a month won't kill you especially since you'll have complete coverage and a sense of assurance,
I also curious..

do some numbers, its still cheaper to own your own tank, for the prices, apply for the homedepot credit card, no interests for purchases, for one year.. pay off hot water heater is still cheaper then renting.

I am locked in for 15 years on my damn hot water tank!!!
"When operating the viewfinder diopter control with your eye to the viewfinder, care should be taken not to put your finger in your eye accidentally."
Deal Expert
Oct 6, 2005
16872 posts
2557 upvotes
akito925 wrote:
1) maintenance coverage
2) company damage liability
3) assurance and dependability
4) 24 hr service
5) parts and labor
6) free tank installation and replacement

Reasons you shouldn't own

1) if your house floods from your store bought tank, your responsible for your water damage.
2) warranty not as good as the ones major companies provide.
3) try and find parts for your tank when its warranty is expired.
4) tanks sold in most stores are not as energy efficient
5) a majority of store tanks are not glass liner
6) the maintenance ppl don't come yearly to check manifold pressure nor do they flush the system yearly,
do some numbers, its still cheaper to own your own tank, for the prices, apply for the homedepot credit card, no interests for purchases, for one year.. pay off hot water heater is still cheaper then renting.

I am locked in for 15 years on my damn hot water tank!!!
[/quote]

It is cheaper to buy - and better choice. The above reasons are so wrong it's not funny.

1. You can buy an extended warranty from Lowes Hot Water tanks which is pretty comprehensive, only $20 for 7 years.
2. Warranty on tanks vary depending on who and where you purchase them. Pay more, get a longer warranty.
3. Buy a brand name tank, like GSW, they're the same ones used by these rental companies.
4. Retail vs rental tanks have similar energy consumption.
5. As for the glass liner, it depends on which tank you buy.
6. Rental people don't come yearly to check the tank either.

Anyhow, put away $20 per month that you save with buying the tank than renting; with an extended warranty you have no worries about maintenance costs during the warranty period, and after 7 years, you'll have $1,400 in you pocket which is enough to replace the tank outright if it can't be repaired for a reasonable cost. You either break even or come out way ahead of renting.

Renting is for suckers - but unfortunately most of Ontario has been suckered.

Top