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Serving Trenton, Quinte West, Belleville & Brighton
Top 1% of All Royal LePage RealtorĀ® Teams in Canada since 2005*
Call or Text: 613.392.7777 - david@davidweir.com
Buying A Home With A Rented Hot Water Tank?
In 2002 Direct Energy signed a consent order with the Federal Competition Bureau that protects customers from long-term contracts and exit fees related to hot water tank rentals.
The consent order expires in 2012 but Direct Energy asked for relief based on the intense competition from door-to-door rivals using the same tactics.
The Competition Bureau agreed to long-term contracts and exit fees with water heaters installed after 16 September 2010, or in new homes built after January 1st, 2011.
Direct Energy refers to a 'buy-out schedule located on our website'. When offering to purchase a home with a rented water heater, ask for a copy of the contract to see if you are liable for an exit fee or long term contract. Find out if there's a termination fee to end the contract early and, if applicable, ask your REALTORĀ® to adjust your offer so the seller pays this fee.
Send me an email if you'd like to talk more about this. I'm at david@davidweir.com.
Cheers!