Renting points out

[ACJT]

are there any good threads out there with info that would be helpful for a new owner looking to rent out extra points? Curious how people handle payments, reservation changes and cancelations and such from renters.

 

[crisi]

The easiest way is to work through a broker.

If you want to do it yourself...

Payment terms - a lot of members ask for half when then make the reservation and the other half 45-60 days out. You want to leave yourself enough room that if the check doesn't arrive or bounces you can cancel the reservation without the points ending up in holding. Certified check or paypal seems to be normal.

Don't promise any ability to change reservations or cancel reservations. Make cancellations only available more than 60 days out and then ONLY if you can rerent the points - or you might be stuck wasting your points. Many people chose to make all reservations final and unchangeable - except for adding the dining plan or Magical Express. Others will try and work with their renters - but be clear on just trying to work with them - no guarentees. DVC books fairly solid for most of the year and deciding to add a night or needing a bigger room because suddenly your mother is coming along might not be possible. Also think about how you feel about subletting. If they don't go, will you let them sell the reservation to someone else - remember, you can be held responsible for any damage they do to the room using your points. Will you try and sublet for them?

 

[ACJT]

Thanks for the great insight crisi. Is there such thing as a standard rental agreement that individuals use when renting points. Something I could get or download?

 

[erionm]

Thanks for the great insight crisi. Is there such thing as a standard rental agreement that individuals use when renting points. Something I could get or download?

Effective DVC Point Rental Agreements

 

[suebeelin]

Thx. Following.

 

[LoveKermit]

We used David's Rental (broker). They offer a couple different price points based on season. We put up our points that expire Sept 30 in January I think. We had them rented a few weeks later. We made the reservations. Got paid half. We get the other half the day they check in. No legal stuff or paperwork for us. We got $13 a point, I think. Super easy if you are too busy to do this all yourself (which we are and DH is an attorney).