Real Estate

Rental Hot Water heater contract

  • Last Updated:
  • May 24th, 2019 1:28 pm
[OP]
Newbie
Jun 18, 2010
2 posts
Toronto

Rental Hot Water heater contract

Hey, I have a new home and as part of the purchase agreement I was to take over the existing hot water heater rental contract from from the builder. The contract was not presented to me until 4 months after I took possession. The contract is with Vista Credit who seem like a terrible company to deal with and have no interest in customer service and have no connection to HVAC other than providing credit. Anyway, turns out the original contract is not in the name of the seller on my real estate purchase and sale agreement. So, can i just tell them to take a hike and come get their water heater?
1 reply
Newbie
Feb 20, 2017
90 posts
68 upvotes
Hamilton, Ontario
You probably agreed to transfer the contract over in your name once you purchased the property. I recently bought a house and one of the conditions on the listing was that i'd assume the water heater rental. I do think that if they raise rates on you, you have a certain period of time wherein you can cancel with no penalty. I know this because Reliance (my rental provider) raised the monthly rental before i moved in so i didnt get the notice of the price increase. I called them and asked about the increase and if there were any controls in place to protect the consumer from any hikes without notice. They gave a credit for 3 months and then sent me the letter i was supposed to get. The letter stated that if I do not agree with the increase, i need to inform them by a particular date so that there is no penalty for getting out of the contract. Note that this contract was in effect since the house was built back in 2009.

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