I'm not smart enough to know how renting points works. Will someone send me a link to a thread spelling it out or explain it to me?
I scanned the primer thread but that didn't help.
"Renting points" is what we call it around here, but it's really kind of a misnomer.
DVC is Disney's version of a timeshare. Owners buy a share in one of the Disney Vacation Club resorts. At WDW, those are SSR, OKW, VWL, BWV, BCV, BLT, AKV. Disney's reservation site calls those the 'deluxe villa resorts'. Depending on how big a share they buy in the resort, they get a certain number of points every year. These points are then used as "payment" for their reservations at the DVC resorts.
Each room type at a DVC resort costs a certain number of points per night to book. For instance, a studio at OKW might cost 8 points per night. The point costs vary with the time of year, just like cash reservations do. As you'd expect, then, it costs more points to book a villa at Christmas time, than it would in September.
OK, so where does renting points come in? As an owner, if I can't use my points this year, say, because I'm going somewhere else on vacation, or I can't get the time off work, I'm going to want to recoup my costs instead of just letting the points expire. I can make a reservation for someone else, and they can pay me for the reservation.
In a nutshell, that's what renting points is. You make arrangements with a DVC owner for them to make a reservation for you. You then pay them for the reservation. In a way, it's kind of like renting someone's beach house down at the shore. It's a private transaction between you and the owner, Disney's not involved.
As a renter, you would pay by the point. With 5 people, you'd want either a one bedroom villa at BLT, AKV, or OKW, or a two bedroom villa at any of the other resorts. As an example, a standard view 1-bedroom villa at AKV in Dream Season would be 200 points for a week, and the going rate is $13 /point these days, so figure you'd need to pay the owner $2600 for the week.
Here's a link to the
point charts, so you can see for yourself what the costs might be:
DVC Point Charts
That's a real general overview, and you'll definitely want to do more reading if you decide to go this route. Take another look at the stickies on the DVC Rent/Trade board after reading this, hopefully it'll make a bit more sense.