Effective DVC Point Rental Agreements

[WebmasterDoc]

Hi,

I was wondering if there is a more current version of a renters contract, especially with all the new changes DVC has come out with. Thank You for your help.

The contracts suggested in this thread should meet all DVC requirements and should also provide at least a minimal measure of reassurance for parties involved with a rental.

There have been no DVC changes that would invalidate any of the suggested contracts already presented.

 

[LBurg93]

The contracts suggested in this thread should meet all DVC requirements and should also provide at least a minimal measure of reassurance for parties involved with a rental.

There have been no DVC changes that would invalidate any of the suggested contracts already presented.

thank you

 

[ConfettiClowns]

What a wonderful and helpful thread. Any advice for rentals that are 3 mos away? Is payment in full an option if it's only 50-60 pts?

 

[Duckieluckey]

I usually make the reservation and then sent the renter the varification when received from Disney. The renter then sends me a check. Sometimes, for a large amount for a reservation far in advance, I take 50% down and 50% within 45 days of the reservation. If the check never comes or bounces (this has never happened), I will cancel the reservation. This way the renter has a confirmed reservation in his hand and I have a check which has had time to clear. Both parties are protected.

 

[chungsters]

Great thread!

Can an owner cancel a renter's reservation at any time?

In other words, what guarantee does a renter have that the owner will not cancel a reservation and just take the deposit leaving the renter without a place to stay upon arrival or just "ripping" off the renter.

We are first time renters and are not sure how this all works, I would rather be more careful than sorry.

Thanks in advance for your help.

 

[JimC]

Welcome to the DIS!

Yes, the member can cancel the reservation at any time. They remain in control of the reservation.

 

[Benducci]

Bumping this thread- it has some good advice.

What would you do with renting points out to people for less than 30 days ahead? How do you handle payments? I usually ask for 20% up front & the remainder 30 days before but lately I have rented out to people with only two weeks left. I feel funny asking for the total up front but it is soon!

 

[WebmasterDoc]

Bumping this thread- it has some good advice.

What would you do with renting points out to people for less than 30 days ahead? How do you handle payments? I usually ask for 20% up front & the remainder 30 days before but lately I have rented out to people with only two weeks left. I feel funny asking for the total up front but it is soon!

I would strongly suggest getting payment in full BEFORE making a rental reservation within 30 days. If payment does not come, you will be faced with restricted points - Holding Account.

There has been one case in the past where a reservation was made within 30 days, payment was never recieved and the member never cancelled the reservation (always expecting that it would come tomorrow). Thus, the member lost those points completely and had nothing to show for it.

I would always suggest that the member protect himself first-and-foremost.

 

[roselark]

Great thread! Thanks everyone!

 

[cjsmom5]

Great thread. Thanks everyone.

 

[Mickey Fanatic]

Great thread, I am glad I found it. We are considering DVC but know that when we have kids there will be a couple of years that we won't be going to the World My husband's big worry is that we won't be able to rent points to people and will end up with a surpus of unused points. This thread should help put his mind at ease that it can be done and both sides can be protected.

 

[ILuvDVC2]

Subscribing... Great thread!

 

[coachfromme]

Great thread. It has been very helpful to me as a new member.

 

[OurDogCisco]

Great Thread...

But I have to say most of you are WAY too nice. I rent other timeshares and I do not have a payment policy. Basically, I expect $100 to $200 for downpayment. Once I get the downpayment I change the reservation to the renters name and then, after that I expect full payment ASA P and it is non-refundable. Nobody has ever questioned it. At first, I was leary at doing this because I thought who would rent from me. I was surprised. I figured if people want assurance they can rent directly from the timeshare or get trip insurance.

Most of my units go for $500 plus per night with the resort so, renting at $225 per night is a bargain.

 

[3DisneyKids]

Just subscribing....

 

[MBIJ]

renting points is "illegal?" I was on the phone changing the name on a reservation to a friend - who is renting the points from me (at $10/per pt) - and I asked a question about the semi-new policy re: transferring points/renting points and the CS responded that renting points is "illegal" and against my DVC membership. She said she can't make a reservation if I tell her that the points have been "rented." Luckily, this transaction was/is truly for a friend who was sitting next to me feeding me the information (names, ages of kids, address, etc) to provide to MS so the CS believed that this was really a friend "using" my points." But, she was adamant that renting was not allowed. I did not want to press the issue with her b/c I did not want to jeopardize the reservation I was making - but I know that she is incorrect.

Since we have an entire RENTING board, and it is discussed so openly, I felt like I was in some sort of twilight zone.

PLEASE tell me I am correct...

 

[Dean]

renting points is "illegal?" I was on the phone changing the name on a reservation to a friend - who is renting the points from me (at $10/per pt) - and I asked a question about the semi-new policy re: transferring points/renting points and the CS responded that renting points is "illegal" and against my DVC membership. She said she can't make a reservation if I tell her that the points have been "rented." Luckily, this transaction was/is truly for a friend who was sitting next to me feeding me the information (names, ages of kids, address, etc) to provide to MS so the CS believed that this was really a friend "using" my points." But, she was adamant that renting was not allowed. I did not want to press the issue with her b/c I did not want to jeopardize the reservation I was making - but I know that she is incorrect.

Since we have an entire RENTING board, and it is discussed so openly, I felt like I was in some sort of twilight zone.

PLEASE tell me I am correct...

renting points is expressly allowed in the POS. It sounds like you got someone new who simply doesn't know what's going on.

 

[CarolMN]

renting points is "illegal?" I was on the phone changing the name on a reservation to a friend - who is renting the points from me (at $10/per pt) - and I asked a question about the semi-new policy re: transferring points/renting points and the CS responded that renting points is "illegal" and against my DVC membership. She said she can't make a reservation if I tell her that the points have been "rented." Luckily, this transaction was/is truly for a friend who was sitting next to me feeding me the information (names, ages of kids, address, etc) to provide to MS so the CS believed that this was really a friend "using" my points." But, she was adamant that renting was not allowed. I did not want to press the issue with her b/c I did not want to jeopardize the reservation I was making - but I know that she is incorrect.

Since we have an entire RENTING board, and it is discussed so openly, I felt like I was in some sort of twilight zone.

PLEASE tell me I am correct...

As Dean already posted, renting is expressly allowed in the Position Offering Statement (part of the sale/legal documents). If this happens to you again, politely ask to speak to a Supervisor (or if you'd rather, call back and speak to someone else).

 

[JimMIA]

renting points is expressly allowed in the POS. It sounds like you got someone new who simply doesn't know what's going on.

You know, that's what I thought too -- the first 3-4 times I heard of MS CMs telling people renting was not allowed.

But we're hearing that line too often for it to be a simple rookie mistake. We keep hearing reports of renting being described as "illegal," and CMs saying, "If you tell me you're renting the points, I can't book the ressie." I suspect the CMs have been talked to about the evils of renting and told to discourage it whenever they get a chance.

I agree it's permitted by the POS, but I'm not so sure MS isn't trying to jawbone owners into not renting.

 

[CarolMN]

You know, that's what I thought too -- the first 3-4 times I heard of MS CMs telling people renting was not allowed.

But we're hearing that line too often for it to be a simple rookie mistake. We keep hearing reports of renting being described as "illegal," and CMs saying, "If you tell me you're renting the points, I can't book the ressie." I suspect the CMs have been talked to about the evils of renting and told to discourage it whenever they get a chance.

I agree it's permitted by the POS, but I'm not so sure MS isn't trying to jawbone owners into not renting.

If they are, they are only "discouraging" the casual/occasional renter. I doubt the "frequent renters" are deterred the least bit.