DVC Point Rental Primer

[JJ&JSMOM]

. Check the owner's previous posting history by clicking on their user name and then Find More Posts

Please help me. I have tried doing this many times, with no success. What is wrong? Why won't it work for me. It should be very straightforward, but always comes back no match found.

I rec'd the same message. Not sure whats up - I'll keep trying.

 

[jekjones1558]

I used to be able to make this work, as long as I had California Gold chosen as my "skin" in user options. Now it no longer works for me. Some folks have suggested googling the DISer's user name and it often will come up with a matching post.

 

[Dawn68PA]

I used to be able to make this work, as long as I had California Gold chosen as my "skin" in user options. Now it no longer works for me. Some folks have suggested googling the DISer's user name and it often will come up with a matching post.

Thanks for that tip - will try it.

This thread is fab. Thanks to all experienced with renting on one side or the other who have contributed to this thread. It's been of great help!

 

[JimMIA]

3. Know who you are dealing with. Confirm ownership and check the Orange County Comptroller's website here Orange Country Comptroller if necessary. If the last name of the owner is hypenated, the search works only on the second last name.

One suggestion on using this site -- the site can tell you more than just whether someone actually owns a DVC contract. It will also show you mortgages, liens, and many other things on contracts.

Liens on contracts will usually be from DVC itself for non-payment of dues. DVC dues are due in mid-January each year, and DVC usually gives the owner 4-5 months before filing a lien. The lien is actually the first step in the foreclosure process, but the dues are usually paid before foreclosure.

If there is a recent lien on your owner's contract for non-payment of dues, I would certainly find someone else to rent from because it's possible that things could go south prior to your arrival and DVC might cancel the ressie. I'd also stay away from any owner with a history of liens filed, even without a current lien, for the same reason. They might be getting their account tied up between the time you book with them and you arrive for your vacation.

You should also be very wary of anything that looks like legal action against the contract. In addition to liens, other common issues would be court papers, domestic court papers, judgements, certified copies of judgements, and lis pendens filed. A lis pendens indicates that the property has some sort of pending claim against it which has to be resolved by a court before anything can be done with the property.

 

[JimMIA]

When you are considering cancellation policies, be careful what you wish for....

Many renters want a guarantee that if they cancel a ressie within certain parameters, they'll get some or all of their money back. Often, I think, owners offer those assurances without really thinking the issue through very carefully.

I've seen several situations lately where owners had a refund policy in certain cases, but wouldn't or couldn't refund the money. A prudent renter should ask themselves two questions about those kinds of refund policies:

1. Do they really mean it?
2. If I cancel, will they be able to refund my money?

Stop and think beyond the initial promise. You are going to pay an owner hundreds, possibly thousands, of dollars for a DVC rental -- and you're going to do that many months prior to your vacation in most cases.

Why do you think they are renting? Do you think they are going to take the proceeds of your rental and put the money in a CD at their bank? Naw...they're going to spend that money!

So if you have a refundable cancellation later, the owner may have the best, most honorable intentions in the world...but they may not have the cash to refund you the money. That's why we occasionally see posts from renters saying an owner owes them a refund, but is now telling them they have to re-rent the ressie to raise the money for that refund.

I think both owners and prospective renters should carefully consider refund policies to be sure they are realistic.

If an owner offers a refund policy for a rental they're using to fund a cruise, for example, they'd better have enough working capital to honor their promise if a cancellation occurs.

If the refund is contingent on being able to re-rent, then your contract/agreement/understanding should make that clear.

Renters should consider not only whether unexpected events in their lives could cause cancellations, but also whether unexpected situations with the owner could hinder the owner's ability to live up to promises made.

If I were renting from an owner, I'd much rather rent from one who said simply, "No refunds," than one who was making a promise they might not be able to fulfill. I can cover a lot of the cancellation risk with trip insurance if I know that's the environment I'm working in; I can't protect myself from an owner who makes promises they can't keep.

I'm sure most owners DO keep their refund committments, but we see problems in this area too often to ignore.

 

[crisi]

And on the re-renting contingency - the owner may have a "if I can re-rent" policy in their contract, but may not be willing/able to do a whole lot of work to re-rent the ressie. They may also not take any responsibility for re-renting themselves and expect you to sublet your existing reservation (they will make the call to change names, but that's about it.)

 

[JimMIA]

Here's an example of what I'm talking about. I'm not showing the posters name, because the point is to illustrate, not embarrass.

...I have found it (renting) is a huge pain. I just had someone cancel a reservation for 30 points and now I have to try to find someone to rent that so that I can refund her money. ...No more renting for me!

How'd you like to have your refund dependent on that re-rental? The poster obviously has good intentions, but...

 

[Granny]

The poster obviously has good intentions, but...

I think that's the rub with some owners...they don't want to look "mean spirited" or greedy by putting in non-refundable payments on a reasonable time frame. The times I rented my points I first sent a blank copy of the agreement to the person wanting the reservation.

Only after they agreed to my terms, payment schedules and conditions did I pick up the phone and call MS. People need to realize that it is okay to put non-refundable in their contracts within prudent timeframes.

 

[DVC Mike]

People need to realize that it is okay to put non-refundable in their contracts within prudent timeframes.

Especially since the renters are getting such a huge discount compares to booking direct with CRO.

 

[JimMIA]

I think that's the rub with some owners...they don't want to look "mean spirited" or greedy by putting in non-refundable payments on a reasonable time frame.

I think it's a more complex (and prettier) picture than that. I think many, many DVC owners renting points really love the idea of helping other families enjoy great vacations -- just like we do. It's probably impossible to separate our love of WDW from the business transaction.

But owners need to realize that this IS a business transaction. They need to take reasonable steps to insulate themselves from risk as much as they can. They owe their own families -- the ones DVC ownership is all about -- that much.

 

[hematite153]

The times I rented my points I first sent a blank copy of the agreement to the person wanting the reservation.

Only after they agreed to my terms, payment schedules and conditions did I pick up the phone and call MS.

Yes. When we rented points we did this too. I'm not prepared to waste my time on the phone with MS without if the person isn't serious, or, is just looking for information they can then use to find a different rentor.

But, if I have a few extra points and someone is looking to rent and is seriously ready to proceed, then, I'd like to help make sure they have a great vacation.

 

[Granny]

I think it's a more complex (and prettier) picture than that. I think many, many DVC owners renting points really love the idea of helping other families enjoy great vacations -- just like we do. It's probably impossible to separate our love of WDW from the business transaction.

I have to agree with this, especially for those who frequent these boards. And in part I was guilty of this myself as I enjoyed hearing from the families I rented to as they got excited about their upcoming trips and even after they returned from WDW. I was very fortunate to find really nice people to work with and I'd like to think I returned the favor.

 

[ellie'smom]

Hello,
Pardon my ignorance, could someone tell me where I could get travel insurance when renting from a dvc member? Would like to rent for my Aug vacation , but like most newbie's I am alittle nerevous & weary. Must be my NYC upbringing

 

[dianeschlicht]

Hello,
Pardon my ignorance, could someone tell me where I could get travel insurance when renting from a dvc member? Would like to rent for my Aug vacation , but like most newbie's I am alittle nerevous & weary. Must be my NYC upbringing

As DVC owners, we usually get a little sheet in the confrimation of a reservation that has the name of a trip insurance company. Not sure how much help that is for a rental though. You are NOT dealing with a travel agency when you rent from a DVC member, so if you are nervous about it, I'd suggest you not rent. The savings might not be worth the anxiety for you.

 

[JimMIA]

Hello,
Pardon my ignorance, could someone tell me where I could get travel insurance when renting from a dvc member? Would like to rent for my Aug vacation , but like most newbie's I am alittle nerevous & weary. Must be my NYC upbringing

Yes, you can purchase travel insurance through Travel Guard (the same company DVC uses). (Probably available through other companies, too) You would do that independently, not through DVC or the owner you rent from.

You need to research trip insurance carefully, so that you know clearly what it covers and what it doesn't. Also, most travel insurance companies require you to purchase the insurance fairly soon after you make your reservations (sometimes within 14 days), so you can't wait until the last minute to decide.

See www.travelguard.com and call their 800 number with questions. They're an industry leader and a very good company to do business with.

 

[ellie'smom]

Thank you both for the information. I will certainly follow up on the suggestions.

 

[mgramagl]

This is my first time looking at this...I need all the help I can get!! I, like all of you, am planning a trip of my lifetime!

 

[mcourville]

After reading the thread I am cautiously optomistic toward renting points. It has been recommended by a trusted source and this thread gives great feedback on the ins and outs of renting. Thanks for the info!!!

 

[kalow1]

I have looked all over and can not find out how or where to post my points for rent. Can any one help

 

[JimMIA]

I have looked all over and can not find out how or where to post my points for rent. Can any one help

Click here: DIS DVC Rent/Trade Board

Do your research first.