Canadian Money Forum banner
Status
Not open for further replies.
101 - 120 of 135 Posts

·
Registered
Joined
·
10,196 Posts
It says a lot that you think 7 figures is a lot when it isn't even the number
... it sure does since you came up with that "7 figures". I could care less what the "real" number is when it's coming from your mouth "magically", bigger than an inflated balloon.

I wouldn't waste any money on RE in TO because you get nothing but bad traffic
... don't care for you as a neighbour for sure. As said, you could be living up in the Himalyas for all I care.

Lots of cows apparently but why buy the cow when the milk is free
... of course the "milk is free" without buying the cow ... for you that is. That's the ingenuity of your scheme and scam course, continuously being pushed on this forum. So what are you planning on next when the crypto-scam crashes? Can't be back to pet rocks since you exploded from a piece given your hate of boomers. Must be some 'new' energy gizmo that runs on hot air.
 

·
Registered
Joined
·
11,878 Posts
We made the contract conditional on them paying out the rental on the furnace so that it would be owned by us. But in the end we couldn't agree on price so I can't say how it would have worked out.
Yeah, that's the right call.

if it's an unknowable cost, dump it on the seller.
 

·
Registered
Joined
·
7,637 Posts
Discussion Starter · #104 ·
So how does one get rid of a rental water heater and buy their own?
Apparently you can't 😂

Welcome to Ontario logic
 

·
Registered
Joined
·
169 Posts
So how does one get rid of a rental water heater and buy their own?
Read your contract - or call a plumbing company who is well versed in water tanks and they will do it for you.
Its one of the first things I did when I moved in 2011 is get rid of the stinking rented water tank...now I am hearing a few colleagues talk of the convenience of also renting their furnaces!
 

·
Registered
Joined
·
169 Posts
You can see it everywhere. I have lived in many provinces and several countries. No other demographic region in the developed world is this financially inept.

Take the water tank rentals as a very simple example. Nearly all Ontarians think it is perfectly acceptable to rent a water tank with an open ended contract. If they could just do 30 seconds of elementary school math they would realize that it only takes a few years for this to be a bad deal. The builders are clearly getting some kind of kick back on the rented water tanks to get some kind of efficiency rebate but they don't need to install any of the more efficient features.

Ontario auto insurance is a huge scam. You only have to compare to any other province. Ottawa doesn't seem to ever manage a decent procurement deal. Maybe we just need to move the government to any other province that has a decent financial aptitude. Even Quebec does far better. Alberta or Saskatchewan would probably do much better. The bar is not set very high to begin with. It's literally elementary school stuff. Nowhere else in Canada do so many people fall for blatant scams.

Is it something in the water? Is it the catholic education system? What is it? What do they not get about capitalism? Why would you ever rent a hot water tank?
Late to this thread and pardon me I didnt read all 6 pages - but I think the real answer is two things. I might go a little deeper than just a rental tank issue but here we go:

1) Education System - currently too focused on teaching kids everyone can get a medal and win, amongst other things that will not bode well for our kids futures.... they have no time to teach how to balance a checkbook, basic personal finances, loans, ammortizations, etc... (wife is a teacher and have 2 kids in school)

2) There needs to be political will to collectively want the populace to be intelligent - seems our governments are happy with us dumb and asleep and happily watching the kardashian show instead of paying attention to our finances. This way we dont question what they do and we just roll over and happily pay our carbon taxes, dont question why our hospitals are at a breaking point, roads and bridges crumbling, etc,etc. If the government came out and encouraged financial literacy then once the average Joe figured out they shouldnt be renting a water heater and shouldnt be in credit card debt their eyes would turn to the government and challenge them for running so many deficits and printing money! This is the last thing our governments want! - Hence my theory why they just want us watching the Kardashians and mindlessly scrolling through facebook on our thousand dollar iPhones...
 

·
Registered
Joined
·
15,204 Posts
So how does one get rid of a rental water heater and buy their own?
Contact the company that rents your HWT (may not be your gas utility). Ask them what they need. They may offer a buy out or a penalty for breaking the rental agreement. Then you can either go to a store like Home Depot and buy a HWT and have it installed, or contact a plumber to get a quote.
 

·
Registered
Joined
·
7,637 Posts
Discussion Starter · #108 ·
Apparently they make the buyout cost more than the new tanks now and the contract never ends

Pretty messed up. There's some forums like rfd that have ways to get out of it. Probably not worth the hassle for the time I'll be there

Ontario doesn't sound like a place I want to live any longer than required.
 

·
Registered
Joined
·
19,944 Posts
Since renters have no choice in the matter, it looks like it could affect 70% of the population who are home owners.

Over 50% of people aged 24-35 are renters, and 46% of all renters live in Toronto, so it affects that age group in that location the most.

The rental cost about $15 a month 15 years ago and has risen to $20 a month today. We had a replacement and are on our second tank in 15 years.

I don't think it is that big a deal. I would rather the government focus on vehicle insurance premiums and telecommunication bills.

The cost of hot water heater rental is insignificant compared to the overall cost of renting in urban Ontario, even in a rent controlled unit.

 

·
Registered
Joined
·
7,637 Posts
Discussion Starter · #110 ·
Personally paying $20 a month rental fee isn't worth the expense of owning a water tank. We are on our 2nd water heater in 15 years of renting.

So the math at today's rental fee of $20 a month is 20 X 180 = $3600 compared to the price of 2 water heaters plus installation costs.
You aren't very good at math

You could be renting that same water tank for another 15 years. They could increase the price whenever they want

You realize the rentals are always profitable by design as they control the price
 

·
Registered
Joined
·
19,944 Posts
Our landlord owns 1200 rental units and requires the rental of the hot water heater.

Our unit is an all brick townhouse in a nice, mature area and our courtyard backs onto a 1 acre park full of trees.

It is also rent controlled and we pay $1180 a month plus hydro for a 3 bedroom/3 bathroom unit, which is $1,000 below market rents.

Our rent provides free membership to a private resident's club with indoor and outdoor swimming pools,. a fully equipped gym, sauna, and meeting room.

The landlord allowed us to renovate the unit at our cost, and build a platform deck on the front of our unit. (not attached to the brick)

We aren't going to moving anytime soon to save $20 a month on a hot water tank.

Don't worry.........when you arrive in Ontario you will learn all about market rents and the financial advantage of rent controlled units.

The cost of a hot water rental will be the least of your concerns.

Our landlord has a long waiting list for units in our small complex.
 

·
Registered
Joined
·
19,944 Posts
m3s.......I suspect you are going to suffer from price sticker shock in a move to Ontario.

Wait until you see the cost of insurance, municipal taxes, condo fees, rents,.......or a home suitable to own....for the better part of a million dollars.
 

·
Registered
Joined
·
10,196 Posts
Our landlord owns 1200 rental units and requires the rental of the hot water heater.

Our unit is an all brick townhouse in a nice, mature area and our courtyard backs onto a 1 acre park full of trees.

It is also rent controlled and we pay $1180 a month plus hydro for a 3 bedroom/3 bathroom unit, which is $1,000 below market rents.

Our rent provides free membership to a private resident's club with indoor and outdoor swimming pools,. a fully equipped gym, sauna, and meeting room.

The landlord allowed us to renovate the unit at our cost, and build a platform deck on the front of our unit. (not attached to the brick)

We aren't going to moving anytime soon to save $20 a month on a hot water tank.

Don't worry.........when you arrive in Ontario you will learn all about market rents and the financial advantage of rent controlled units.

The cost of a hot water rental will be the least of your concerns.

Our landlord has a long waiting list for units in our small complex.
... that's inexpensive. Here in TO, you might get a closet for $1100. Totally agree, and as Money said "last thing" you need to worry about or being SO BAD in basic finances is a HWT "rental".

I guess by m3s' definition paying hundreds of dollars per month in cell charges mean one is being so "financially-savvy" pushing crypto-craps on his app.
 
  • Like
Reactions: sags

·
Registered
Joined
·
10,196 Posts
m3s.......I suspect you are going to suffer from price sticker shock in a move to Ontario.

Wait until you see the cost of insurance, municipal taxes, condo fees, rents,.......or a home suitable to own....at the better part of a million dollars.
... you see, according to m3s, we "Ontarians" are SO BAD in BASIC finances to be able to pay for these RIP off prices when we can go live in the forest or up the mountains of the Himalayas there for "free".

Shelter there is free - just pitch your own tent somewhere. Plumbing is absolutely free no doubt as one doesn't even need a toilet! Just take your dump somewhere. As for trying to keep clean, just go to some stream and sponge bath. Water is freezing? Too bad. I can give more examples of "free" services for m3s there but no need to educate the genius. HOWEVER, I can't say that he'll get free satellite service for his cell there though whilst pushing ... < fill-in-the-blank with crap-of-the-day>.
 
  • Like
Reactions: sags

·
Registered
Joined
·
10,196 Posts
Contact the company that rents your HWT (may not be your gas utility). Ask them what they need. They may offer a buy out or a penalty for breaking the rental agreement. Then you can either go to a store like Home Depot and buy a HWT and have it installed, or contact a plumber to get a quote.
... follow andrewf's instructions and report back to us 1. what's the break-even point to "own" your own and 2. total costs for the conversion.

For the records, reccosso and I are both anonymous to each other. I would be interested to see what he comes up with or just how good it's to own your own HWT.
 

·
Registered
Joined
·
7,637 Posts
Discussion Starter · #116 ·
m3s.......I suspect you are going to suffer from price sticker shock in a move to Ontario.

Wait until you see the cost of insurance, municipal taxes, condo fees, rents,.......or a home suitable to own....for the better part of a million dollars.
Well that happens to be what I wrote in the original post and several times in this thread, so yes. Are you losing short term memory?

I could buy a house in Ontario but it's honestly the worst deal I've ever seen anywhere. You basically have cookie cutter homes of poor quality built in flat fields. In the rest of Canada, US or Europe you can easily get a much more interesting place and/or much better value. With remote work and work from home many Ontarians are starting to move out same as certain US states where people live with horrible traffic mostly for their job.

BC is expensive but it's also insanely beautiful. California is expensive but the climate is amazing. Ontario is just expensive, flat and cold.
 

·
Registered
Joined
·
10,196 Posts
Well that happens to be what I wrote in the original post and several times in this thread, so yes. Are you losing short term memory?

I could buy a house in Ontario but it's honestly the worst deal I've ever seen anywhere. You basically have cookie cutter homes of poor quality built in flat fields. In the rest of Canada, US or Europe you can easily get a much more interesting place and/or much better value. With remote work and work from home many Ontarians are starting to move out same as certain US states where people live with horrible traffic mostly for their job.

BC is expensive but it's also insanely beautiful. California is expensive but the climate is amazing. Ontario is just expensive, flat and cold.
... of course, you wouldn't want to "live" in Ontario as Ontario is the perfect place to find saps for your pushing ingenuity. Isn't it?

Btw, nice try on pitting Ontario with BC and California and what-haves ... why not pit us against NFLD (no offense to jargey3K), New York State or Yukon even since it's nice and cold there. I don't think it's any cheaper there - land maybe but goods and services, definitely not.
 

·
Registered
Joined
·
7,637 Posts
Discussion Starter · #119 ·
@KaeJS was on to something about the cows in Ontario

The moose in Yukon and Newfoundland are much more dignified and intelligent

NY is similar and Americans are leaving NY as well
 

·
Registered
Joined
·
10,196 Posts
@KaeJS was on to something about the cows in Ontario

The moose in Yukon and Newfoundland are much more dignified and intelligent

NY is similar and Americans are leaving NY as well
... of course KaeJS was onto something about cows in Ontario that you're in agreement with. (Tells ALOT about you -your turn). But he failed to realize one of these "undignified" cows in Ontario raised him too. Also, tells even more about you too ... but wait I'm mistaken as you were blown out from a pet rock. Sorry don't have your ingenuity ... to scheme and scam.

And speaking of slurring others as being "undignified", you should have a HARD LONG LOOK at self in the mirror. And I'm now serious about this.
 
101 - 120 of 135 Posts
Status
Not open for further replies.
Top