Do be aware that while a private owner MAY be more flexible (it depends on the owner) DVC rentals in general are not very flexible. Its a huge savings, but you should view it as final. If you have to cancel, its likely you will not see your money back. Its possible with a private rental that if the owner can sublet your reservation, but don't count on it, particularly if you cancel less than 30 days out due to something like illness.
This is what I put in my contract:
"Cancellation and Refunds:
Funds received for the purpose of renting DVC points for a reservation are non- refundable. Once bought, these points belong exclusively to Tenant and must be used on or before XXX 31, 2016.
Tenant will be held to the same terms as a DVC member for cancellation (i.e. cancellation on the day of arrival will forfeit the rented points and reservation to Disney, cancellation within the last 30 days will put the points into a holding account (where the tenant will have 60 days to attempt to reschedule the reservation or forfeit the points to Disney), cancellation at 31 days or greater from the reservation's original date of arrival, allows the tenant to attempt to reschedule the reservation, pending room availability, with the points, anytime prior to their expiration on XXX 31, 2016.
Tenant may request, and DVC member will make reasonable attempts, to make reservation changes as directed by the tenant, within the limitations noted above. Tenant should be aware that this might not be possible because of limited room availability. "
I've had very little problem with this. If someone wanted to make multiple changes, or bug me to jump right this second on a rare reservation that just popped up, I'd likely not consider that reasonable. But, when plans change and someone now needs a new plan: that's something I can do that a broker won't.
Just for clarity: I'm not currently in the market to rent and probably won't rent out again for at least a year...