Vivint is currently considered one of the largest and most popular home security services in the United States. The company has several products of smart home and some of these are smart security systems, video doorbells, smart locks, indoor and outdoor cameras, smoke alarms, smart thermostats, and others. One thing customers want to know when they have to pay for the services that Vivint offers is whether they will be able to get a non-contract service. I will provide all the contract details one must know about Vivint.
The Short Answer The only drawback of Vivint is that it does not allow its users to have the option of month to monthly subscription for their home security services and equipment at the moment. The contract terms provided by Vivint for a smart home are normally 42 to 60 months or 3 to 5 years in duration. Some clauses allow the early termination of the contract, but there may be a fee if you cut it short before the term is up, although, you can discuss this fee with the provider. Currently, there is no monthly contract option through Vivint.
The Long Answer Let us discuss the overview of Vivint’s contract options and lengths. Note: when you choose a Vivint home security system that will be installed and then monitored by professionals, there are two options of contracts currently available: 42 months and 60 months. Here are some key points about Vivint's contracts:
The length of the Vivint contract is 42 months (3 and a half years) with their standard contract. In some cases, there are special offers or extra devices where the term would be 60 months or 5 years. If you decide to lease your equipment or make the Equipment Rental Payment instead of owning it outright, then the 60-month option will apply. That is why contracts are linked closely to the financing terms of equipment in many cases. That is why, Vivint allows the clients to purchase the contract early together with the required equipment. However, consumers have to pay the penalty for early contract cancellation. Vivint provides a change of residence services that enable you to relocate your service if you shift houses. In most cases, the transfer of the contract would take place to the new home.
Contract Early Termination Fees The primary disadvantage of Vivint is that it has contracts and the service comes with high amounts of early termination fees. This is not good news for those people who for one reason or another may wish to cancel the Vivint home monitoring service early. Here are some key points on Vivint's early termination fees:
This fee increases based on the number of months remaining in the term of 42 months and the first month of termination the fee is 50 of the remaining monthly costs which reduces over time. For the 60-month contract, the fee has been set at 50% of the remaining cost as well. Other additional pieces of equipment that may be leased or financed, can push up the early termination fee to over one thousand in some cases. While canceling Vivint, there are chances that you may be able to compromise on the termination fee or sometimes, it may be completely waived. Even though it is not possible to be sure that the action will prove to be successful.
No Contract Options Many customers cannot afford to make such a decision and tie themselves up with any home security company or service for 36+ months. The good news, however, is that within the past few years, more and more home security companies have started to adapt to such demand and have made their home security services more flexible with no long-term contracts. The bad news is, unfortunately, that Vivint is not the best in this respect compared to other companies.
A quick rundown of what Vivint currently offers contract-wise:
The service provider seemed to occasionally offer long-term options, but none were clearly outlined. All Vivint monitoring services cost $42 or $60 per month, and all involve signing a new 42 or 60-month contract. The gym does not offer any short-term or long-term contracts so that the members of the gym can train and exercise without any limitations. Subscription has to be long-term, at least for the first year to be precise. There were some years back that Vivint offered their DOF or “Dealer Owned and Financed” plans enabling customers to waive contracts, but by 2020, this service is no longer offered to customers who do not exist. Vivint does not offer any monitoring service for its equipment, but the Vivint equipment is available for a one-time fee only. However, going for a professional installation would entail one to sign for a long-term contract.
Since it is impossible to have access to any of Vivint’s systems or services without entering into a long multi-year contract, the only way to avoid this is to buy the control equipment independently, such as video doorbells and security cameras. After that, have access to self-install and self-monitor, but don’t include monthly monitoring in the fees. However, if the client wanted remote access, it would have an additional fee associated with it. It is not advised to go for self-installed and self-monitored systems, especially when you want a full-fledged security solution for your home.
Why does Vivint still need long-term contracts when it has the technology and resources to offer a flexible service? Many rivals already have contract-free services – namely, ADT, Frontpoint, Brinks Home Security, and others – so will Vivint continue to tie clients to their inconvenient and lengthy 42+ month contracts? There are a few reasons we can speculate behind this business decision:
Less Churn – Multiple months of contracts mean more retention of accounts or “less churn. ”
Predictable residual revenue – Service providers, especially those in the business of offering a service for a certain number of years, can guarantee a particular amount of monthly revenue for the next several years.
Prevent Early Contract Termination – Contracts are attached to the early termination fees, which discourage equipment theft or failure to return the leased equipment.
Though other national brands have changed their approach to the requirement of flexibility for security contracts as demanded by the market, Vivint still maintains its ground that clients must sign contracts that will bind them for comprehensive services. However, the company appears to be reluctant to part with the advantages mentioned above that go with its being able to lock in customers for 5 years or more.
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