Read about the laws that affect both Landlords and Tenants in Ontario. Be informed to avoid common pitfalls when renting in Ontario.
In recent years there has been a trend to rent many large home appliances such as Furnace, hot water tank, and air conditioner. A simple explanation is that most families do not have the financial resources to purchase a large home appliance when their current one breaks down. Large mortgages and utility costs could be to blame for the quick decision to rent an appliance. From a home buying/selling perspective, rental appliances diminish a homes value. This is mainly because of the expensive long term cost of rental agreements. All things being equal buyers will more likely choose a home with owned appliances. Rental appliances are also a negotiation point with buyers agents looking for pricing discounts to make up for the cost of rental contracts. Home owners should do their research before making the decision to rent their appliances. Below is a simple infographic to explain some of the Pros and Cons of both options.
