About 2 weeks ago there was a news story about enbridge or direct energy changing the water heater rental contract. Basically the change was rather complex, so there was a lot of calls to the company and it caused such a rukus that the whole idea was scrapped. Basically the company was trying to make it more expensive to get out of their water heater contract.
About 5 years, I had a look at my gas bill and noticed a rental water heater monthly charge of about $30/month. So, assuming these machines usually last 20 years, that's $7200 for the water heater. I then priced water heaters, and found that an electric one costs about $500 and that's not including tax or installation. With tax and installation it's about $800. I then priced a sears gas water heater and with tax and installation it was $1200. That's 16 percent of the cost of the rental one. Because the rental water heater I had was very old, I called the gas company and said I wanted to replace it with one I bought, and they said fine, just put the old one in the garage, and someone will come by to pick it up for $75. I did just that, and I think it's one of the best deals I've even done. $1200 is a lot less than $7200.
Someone from work recently relocated from calgary to toronto and found it unusual that everyone in toronto rents their water heater when everyone in calgary buys it.
About 5 years, I had a look at my gas bill and noticed a rental water heater monthly charge of about $30/month. So, assuming these machines usually last 20 years, that's $7200 for the water heater. I then priced water heaters, and found that an electric one costs about $500 and that's not including tax or installation. With tax and installation it's about $800. I then priced a sears gas water heater and with tax and installation it was $1200. That's 16 percent of the cost of the rental one. Because the rental water heater I had was very old, I called the gas company and said I wanted to replace it with one I bought, and they said fine, just put the old one in the garage, and someone will come by to pick it up for $75. I did just that, and I think it's one of the best deals I've even done. $1200 is a lot less than $7200.
Someone from work recently relocated from calgary to toronto and found it unusual that everyone in toronto rents their water heater when everyone in calgary buys it.