Rental Agreement
A plain-English overview of how Arctic rentals work, including the parts people usually have to go looking for. The binding rental agreement is provided for e-signature before installation.
What’s included
Your monthly price covers the equipment, professional installation, and service and repairs for the full 15-year term. For a covered repair there are no separate call-out charges, parts bills or labour bills for as long as you rent; the exceptions are listed under Service and repairs below. Arctic also registers the manufacturer’s warranty for you. HST applies on top of the monthly price.
The annual price adjustment
Your monthly rental rises by a set 6% on each anniversary of your install. This reflects inflation (CPI) and Arctic’s annual surcharge for the rising cost of parts and service, and is fixed in advance. Every year’s payment is listed in your agreement before you sign, in its Schedule of Payments, so the total over the term is known from the start and there are no other increases at any point in the plan. Financed and outright purchase prices do not change at all, because they are purchases. If you signed before October 2026, your agreement’s own adjustment terms continue to apply, and your customer portal shows them.
Ownership
Arctic owns and services the equipment during your plan. Ownership transfers to you at the end of the 15-year term at no extra cost, provided the agreement has run its term and the account is in good standing. Until then your upfront cost stays at $0 and repairs are covered, apart from the exceptions listed under Service and repairs.
Buying out or transferring
You can buy out your equipment at any time. The price follows a schedule fixed on the day you sign: a percentage of the installed price (before HST) for each year of the term, never less than $100, plus HST. It drops every year and never rises, and today’s figure is visible in your portal. You buy the equipment as it is, and its care is yours from then on. If you sell your home you can transfer the rental to the new owners instead, with no transfer fee. To do that, mention the rental in the agreement of purchase and sale, tell us the buyer’s name and the closing date before closing, and bring your account up to date; you stay responsible for the payments until the new owners have accepted the agreement. If a home is bought under a power of sale or in a bankruptcy, the rental and any arrears go with the home, the way unpaid property taxes do. Both a buy-out and a transfer can be started in your portal.
Service and repairs
Parts and labour on repairs are covered for the full 15 years, which is longer cover than a purchase gets. Service is booked by phone or in your portal, during business hours, and after-hours calls are monitored. A few things are not covered: damage, misuse, or work on the equipment by anyone Arctic has not authorized; de-liming or flushing needed because of hard water (Arctic covers the diagnosis); the venting, piping, wiring, plumbing, ducting and electrical services around the equipment; resetting a safety lockout caused by fumes such as paint or solvents near the unit; and problems caused by energy-saving or load-control devices. For those, you are charged at Arctic’s usual rates.
The 30-day rental trial
Every rental comes with a 30-day risk-free trial. The 30 days run from the day your equipment is installed, not from the day you order. Within those 30 days you can cancel and we remove the equipment with no fees. The 30-day rental trial does not apply to new home installations arranged through a builder. The trial is for rentals only: financed and outright purchases do not include one. After the trial, the terms of your signed rental agreement apply, and the way out is a buy-out or a transfer rather than a cancellation.
If a payment is missed
A returned payment is charged $35, and overdue amounts carry interest at 1.5% a month (18% a year, an effective annual rate of 19.56%). Three missed monthly payments put the rental in default, the same as on Arctic Own. Arctic may then end the rental and invoice you the buy-out price from your schedule. Call us before a payment is going to miss and we will work it out with you.
This is a plain-English summary, not the binding legal document. The full, counsel-approved policy is provided before you sign and is available on request at info@arctichomeservices.com.