Reliance Hot Water Rental

Feb 9th, 2018 8:55 pm

#1

cmster [OP]: Newbie; Feb 8, 2018; 8 posts

Feb 9th, 2018 8:55 pm

I was made aware in the agreement of purchase that my home (purchased and closed a year+ ago) has a rental hot water tank. I've seen the tank and it looks like one from Reliance. As it's my first house, I wasn't sure how I'd be billed for the hot water tank and for some reason assumed that since I'm paying every utility bill that shows up at the address, this would have naturally been covered. Now I'm pretty sure it's supposed to be a separate bill so pretty much I haven't been getting any bills from Reliance for the hot water tank rental for a year+. I don't want to fall into collections but no one's presented me with a contract or bill yet and I'm worried that if I contact Reliance, they'll bill me the entire year plus interest (or some other ridiculous fee for late payment). How should I approach this?

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Feb 10th, 2018 7:52 am

#2

sputnik99112: Member; Feb 3, 2012; 456 posts; 316 upvotes; T.O.

Feb 10th, 2018 7:52 am

cmster wrote: ↑ I was made aware in the agreement of purchase that my home (purchased and closed a year+ ago) has a rental hot water tank. I've seen the tank and it looks like one from Reliance. As it's my first house, I wasn't sure how I'd be billed for the hot water tank and for some reason assumed that since I'm paying every utility bill that shows up at the address, this would have naturally been covered. Now I'm pretty sure it's supposed to be a separate bill so pretty much I haven't been getting any bills from Reliance for the hot water tank rental for a year+. I don't want to fall into collections but no one's presented me with a contract or bill yet and I'm worried that if I contact Reliance, they'll bill me the entire year plus interest (or some other ridiculous fee for late payment). How should I approach this?

The rental may be included in your gas or electricity bill.

Feb 10th, 2018 8:01 am

#3

teoconca: Deal Fanatic; Oct 16, 2008; 9447 posts; 3762 upvotes; Vaughan

Feb 10th, 2018 8:01 am

May be the previous owner forgot to transfer ownership of the tank to you.
May be the rental of the tank is finished.

I hate to speculate. I hate to forecast. I am just proactive.

Feb 10th, 2018 10:21 am

#4

cmster [OP]: Newbie; Feb 8, 2018; 8 posts

Feb 10th, 2018 10:21 am

sputnik99112 wrote: ↑ The rental may be included in your gas or electricity bill.

It's not, I've checked.

Feb 10th, 2018 3:42 pm

#5

engineered: Deal Expert; Feb 11, 2007; 18829 posts; 21562 upvotes; GTA

Feb 10th, 2018 3:42 pm

Reliance will eventually do a search on the title transfer records and send you a bill, or just send a generic bill to your address. They don't charge interest so there's no rush to pay. You might not even be under contract if it's old enough.

If the women don't find you handsome, they should at least find you handy.

Feb 11th, 2018 12:10 am

#6

Gee: Deal Expert; Aug 2, 2004; 35286 posts; 8699 upvotes; East Gwillimbury

Feb 11th, 2018 12:10 am

I wouldn’t do a thing. How old is the tank?

If Reliance eventually sends you a bill. I would actually contest it. Tell them you were unaware of any rental agree to and try to buy out the tank.

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Heatware

Feb 11th, 2018 3:21 pm

#7

cmster [OP]: Newbie; Feb 8, 2018; 8 posts

Feb 11th, 2018 3:21 pm

It's 10 years old. Do you think it'd be pricey to buy out a 10 year old reliance tank? Would they be able to bill me for the past year's rental fees? If it's not too much, I might just offer to buy it just so this isn't looming over me. That way I also have the freedom to get rid of it and buy my own tank whenever I want.

Feb 13th, 2018 2:07 pm

#8

Jerry321: Newbie; Aug 27, 2017; 3 posts

Feb 13th, 2018 2:07 pm

There is no point in buying a 10 year old tank.. google the useful life of a water tank and you will see they recommend changing it at 10 years.. I just switched insurance companies and they are making me change it.. its 10 years old..

Feb 13th, 2018 4:50 pm

#9

teoconca: Deal Fanatic; Oct 16, 2008; 9447 posts; 3762 upvotes; Vaughan

Feb 13th, 2018 4:50 pm

I bought mine out after 10 years contract with Reliance; this was 7 years ago. They quoted me $150 initially then they changed the price to $500. I insisted $150 because they issued get out bill of $150. I used the tank for couple more years then I got new tank installed. It's great feeling from rental free.

For your case, they may quote you $400. Give them a call, if it's too high then just buy new one.

cmster wrote: ↑ It's 10 years old. Do you think it'd be pricey to buy out a 10 year old reliance tank? Would they be able to bill me for the past year's rental fees? If it's not too much, I might just offer to buy it just so this isn't looming over me. That way I also have the freedom to get rid of it and buy my own tank whenever I want.

I hate to speculate. I hate to forecast. I am just proactive.

Feb 13th, 2018 6:11 pm

#10

QTheNukes: Deal Addict; Nov 28, 2007; 1674 posts; 864 upvotes

Feb 13th, 2018 6:11 pm

I bought out my 11 year old tank 3 years ago. Paid $300 I think. Already saved double that much by not paying them monthly. Honestly even if it only lasted 2 years you are ahead of the game. Rentals suck.

Cool Beans

Feb 14th, 2018 11:29 am

#11

Jerry321: Newbie; Aug 27, 2017; 3 posts

Feb 14th, 2018 11:29 am

the issue, as I understand it, is that its prone to leak after 10 years of so.. if it does it will be a mess..

Feb 14th, 2018 12:07 pm

#12

Gee: Deal Expert; Aug 2, 2004; 35286 posts; 8699 upvotes; East Gwillimbury

Feb 14th, 2018 12:07 pm

cmster wrote: ↑ It's 10 years old. Do you think it'd be pricey to buy out a 10 year old reliance tank? Would they be able to bill me for the past year's rental fees? If it's not too much, I might just offer to buy it just so this isn't looming over me. That way I also have the freedom to get rid of it and buy my own tank whenever I want.

First. Don’t call them. Just sit tight. If they call you, complain and said you were unaware of he rental and refuse to pay

Then offer to buy out the tank. If the price is too high, tell them to take it back.

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Heatware

+1

Feb 14th, 2018 12:28 pm

#13

engineered: Deal Expert; Feb 11, 2007; 18829 posts; 21562 upvotes; GTA

Feb 14th, 2018 12:28 pm

Jerry321 wrote: ↑ the issue, as I understand it, is that its prone to leak after 10 years of so.. if it does it will be a mess..

If you don't maintain the tank at all then 10-12 years may be all that can be expected. If you maintain the tank, it can easily last 15-20 years.

If the women don't find you handsome, they should at least find you handy.

Feb 23rd, 2018 7:53 pm

#14

cmster [OP]: Newbie; Feb 8, 2018; 8 posts

Feb 23rd, 2018 7:53 pm

cmster wrote: ↑ Would they be able to bill me for the past year's rental fees?

Does anyone have any experience with this?