We have been renting for ten years now, taking 14 trips, with 2 more planned within the next 6 months. Each time we have rented from owners on the boards here. We have never had a problem, (fingers crossed, knock wood...don't want to jinx it!). We love being able to stay at a deluxe resort for close to a value price, as we travel normally in September and January when the points cost are lowest.
Used to be we took a lot of Sunday thru Friday trips to keep costs as low as possible, but now we tend to go mid week for 6 or 7 nights, as flight prices from philly have been so cheap, $62 each way for our January trip!
When we first started renting we had no access to our reservation, so it was a bit nerve wracking not knowing if our room would be there when we arrived, as the owner has total control and can cancel if they are dishonest. Seems this is a rare occurrence, but hard to know for sure. Now with
MDE it is comforting to be able to see the proof at any time.
Some people seem to not like the fact that there is no daily housekeeping. This we don't mind at all. Even at other hotels where we can get it, we normally put the privacy sign on the door all day. I'd rather not have anyone in my room, and don't mind straightening up for ten minutes a day to save a ton of money!
We have stayed value a few times as well, but usually when we get a great package deal with free dining. Otherwise renting is the way to go. Good luck if you choose to do so!