Do you know the ins and outs around renting a heat pump? Before you make a decision, take the information below into consideration.
Owning Your Heat Pump
Increased value in your home.
Affordable fixed monthly payments with an end date.
Protection plans, parts and labour warranties available.
Choice of brands and units.
Choice of installers/service providers.
Quality service available 24/7.
Renting Your Heat Pump
Long-term agreement with expensive buyout.
Monthly payments that never end, you could end up paying over 2x what the unit is worth over it's lifespan.
Service cost are covered but you have no choice in the provider.
After hours service may be limited or non-existant.
You will be charged to have the unit removed from your home when you decided to have it uninstalled (approx. $250)
If you move, the new homeowners must agree to take over the unit or you will have to uninstall it at a cost to you! If
you are still in a contract term you will have to buyout that contract on top of the installation fee.