Frequently Asked Questions
with comfort owl
General FAQs
How is Comfort Owl different from the competition?
We live by our core values and never compromise our morals in favour of profit. You’re more than just a customer to us, and we stand by that in every part of our process. From beginning to end – vetting the professionals in our Comfort Collective, offering utmost transparency and value, showing respect in your home, moving, or ending the term with no hidden surprises or fees. Everything has been designed to give the homeowner peace of mind and make your dream home more affordable and comfortable than ever.
How do I qualify for rental or financing?
You must own your home and the land it resides on and have satisfactory credit. A quick credit check and title check will be conducted to determine eligibility. Only one credit check is required for both rental and financing.
How much can I be pre-approved for?
You can be pre-approved for up to $25,000 for rental equipment and financed loans instantly, on approved credit.
How long does it take to be pre-approved?
Assuming all information provided on the credit application is valid, you will receive instant pre-approval for an amount up to $25,000.
Does the credit check show up on my credit report?
Yes, our credit applications require a “hard” credit inquiry and will show on your credit report. The advantages with Comfort Owl are we only require one credit inquiry for both rental and financing options, unlike other companies who require separate credit inquiries. Also, our credit approval remains valid for 12 months, allowing you a wide window of time to install different equipment at different times if desired.
How do I pay my monthly bill?
We collect your void cheque or pre-authorized debit form and payments are automatically debited from your bank account monthly.
What documents and information will I need to provide?
To complete a rental or loan agreement, you will need to provide your banking information, employment status, and address of installation. For identity verification purposes we collect standard personal information such as your date of birth and current address, as well as verification of government issued ID.
Am I required to meet in person to fill out and sign documents?
No, meeting in person is not necessary. The entire process from credit application to agreement signing can be done electronically.
What is the difference between renting and financing?
Renting involves a fixed-term rental agreement with included breakdown protection, if you sell your home the rental agreement is transferrable to the new homeowner. Financing, on the other hand, involves a personal loan with customizable terms and payment options. Breakdown protection is not included on financed equipment, and the loan is not transferrable if the home is sold.
What equipment qualifies for Comfort Owl?
We offer rental and financing on a multitude of equipment provided by our partners. This includes furnaces, heat pumps, water heaters (tank and tankless), water softeners, and many more.
What equipment can I rent or finance through Comfort Owl?
We can provide a wide range of equipment including but not limited to:
Water
Tank water heater (gas, electric, propane), tankless water heater (gas, electric, propane), boilers, water softener, water filtration, water purification
Heating
Furnace (gas or propane), garage unit heater, fireplace
Cooling
Air conditioner, ductless air conditioner
Combination
Heat pump, combination furnace & air conditioner, combination furnace & heat pump, hydronic heating, mini-split system, air handler, air exchanger & HEPA filter
Can I rent equipment and open a financed loan at the same time?
Yes you can! You can rent equipment and use the remainder of your pre-approved amount to open a financed open loan for other home projects or renovations.
I heard rental equipment is a scam, is this true?
No this is not true. Due to years of deceptive practices and lack of transparency with industry giants, a lot of people have had bad experiences with rentals and end up having a lot of trouble to deal with and paying much more than they were expecting at the end of their rental term. This has led to people sharing their bad experiences and overall a bad stigma being developed around rental equipment. Comfort Owl is here to break the stigma by providing transparency in our rental program and offering benefits and value.
Who will be installing my equipment?
Your local licensed and vetted Comfort Owl professional will handle the installation of your equipment.
Can I put a down payment on my rental or financed loan?
Yes you can! This can be arranged with your Comfort Owl professional when discussing your monthly rate.
What is the Comfort Collective?
The Comfort Collective is our amazing team of contractors and dealers Comfort Owl works with to complete installations and maintenance for rentals and financing. We work with locally owned and operated companies and licensed professionals.
Rental FAQs
What are the fees involved?
There are no registration fees, and we offer an incredibly competitive end-of-term buyout making us a true rent-to-own solution provider. Contact us to learn more.
Who is responsible for maintaining the equipment and what happens if equipment is not maintained?
It is the homeowner’s responsibility to maintain the installed equipment. If a breakdown occurs as a direct result of lack of maintenance, your breakdown protection will be void. We strongly recommend you talk to your Comfort Owl professional about including a maintenance plan and building the cost into your monthly rate.
What does maintenance involve?
Examples of maintenance for our equipment include annual water heater flush, spring and fall HVAC tune-up, replacing filters, and regular inspections.
What is breakdown protection?
Breakdown protection ensures that homeowners are not required to pay any expenses for repairs throughout the rental term including parts and labour. To facilitate this protection, we collaborate with a third-party warranty provider. It’s important to note that breakdown protection is contingent on regular equipment maintenance.
Who will handle service calls for breakdown protection?
Service should be handled by the same contractor who installed the equipment. If the installing contractor is not available for any reason, Comfort Owl will work with the next closest contractor we can stand by to complete the service.
Is 24/7 service available? Who do I call in case of breakdown?
Yes, we have customer service available 24 hours a day, 7 days a week. Call the phone number on the Comfort Owl sticker found on your rental equipment. Or contact the professional who installed your equipment.
What is the annual rate escalation?
Your monthly payments will increase by a very small percentage every year to account for inflation and to ensure that rental payments keep up with changing economic conditions. It is important to note that our annual escalation rate is lower compared to industry competitors. Contact us to learn more.
What happens at the end of the rental term?
At the end of the rental term we provide you the opportunity to own your equipment with an incredibly reasonable buy out rate. Alternatively, you can decide to continue renting at a monthly rate. We do not accept returns on equipment.
What if I sell my house before the rental term is over?
The rental agreement and remaining months of the rental term can be transferred to the new homeowners.
What if I’m not moving and I want to end my rental agreement before the end of the term?
If you would like to end the rental agreement early, you are responsible for paying off the remaining months left in the term.
Am I eligible for government rebates for my equipment?
Unfortunately, rented equipment is not eligible for government rebates.
I’m a landlord, can I put Comfort Owl rentals in my rental properties?
Yes you can! The owner of the property must sign the rental agreement for the equipment, however, the tenant can be set up as the payee for monthly payments. It’s important to note that if the tenant defaults on payment or moves out, the responsibility for payments will revert to the homeowner.
Financing FAQs
Am I eligible for government rebates for my equipment?
Since you own the equipment, you may be eligible for government rebates.
What if I sell my house before the loan term is over?
You are responsible for the amount owing if you sell your home. The loan is not transferrable, however, you can choose to continue making payments as scheduled or pay off the amount owing at your convenience.
Are there any payment penalties?
Financing through Comfort Owl is open loan and you do not incur any payment penalties.
What are the fees involved?
A standard registration fee of $99.95 is applicable for financed loans.
What is the interest rate?
Our interest rates vary depending on the program. We also have rate buy-down options available. Contact us to learn more.
Is breakdown protection included?
Breakdown protection is not included, however, you can add a maintenance plan. We suggest discussing this with your Comfort Owl professional for pricing and options when selecting your financing program.
Commercial & Property Management FAQs
What industries can benefit the most from Comfort Owl?
Property management, long-term care, restaurants, retail, motels, hotels, and institutional organizations such as government buildings are a few examples of settings that can benefit the most from Comfort Owl.
What is the quoting process?
We collaborate with business owners to provide timely customized quotes based on their needs.
What is the annual rate escalation?
Your monthly payments will increase by a very small percentage every year to account for inflation and to ensure that lease payments keep up with changing economic conditions. It is important to note that our annual escalation rate is lower compared to industry competitors. Contact us to learn more.
What are the fees involved?
There are no registration fees for commercial leasing. A standard discharge fee of $499 is applicable at the end of the lease term, however, this can be built into the lease itself if requested.
What happens at the end of the lease term?
At the end of the lease term you have the option to purchase your equipment for a very reasonable buyout rate. Alternatively, you can decide to continue renting at a monthly rate. We do not accept returns on equipment. Lastly, a standard $499 discharge fee is applicable once the equipment is purchased.
Is breakdown protection included?
Breakdown protection is not included, however, this can be added to your lease agreement along with maintenance plans. We suggest discussing this with your Comfort Owl professional for pricing and options when quoting.
