A few ?'s about renting points

[riu girl]

Hello DVCers,

I am hoping to rent points for Dec /2006. I just wish we could go sooner.

A few questions if you don't mind:

1. I would feel most comfortable having a rental agreement between myself (points rental) and DVC owner. Is this commonly done?

2. Does the DVC owner usually request the deposit/full payment at time of getting the ressie at MS or not until renter has received the written confirmation from them (the one that the owner received from MS)? In all honesty, I understand that there is a lot trust involved (on both sides obviously) but I would feel most comfortable renting from a DVC owner that has a rental agreement of some sort and doesn't request deposit/full payment until after I have the confirmation paperwork from MS.

3. I would feel very comfortable being asked for references, but since I have never done this sort of thing before (rented DVC points), what sort of documentation would be sufficient? We have never done any sort of private rental before and I would just want the owner to know that I am a reliable/honest person.

4. What are the rental terms/conditions generally, or do they really vary from owner to owner?

btw, our proposed itin:
i) OKW studio (8 points/night): nights of Dec 10-15
ii) POP Century $77US/nt + tax (value season , hope for a general public code) : nights of Dec 15 - 16 (in order to avoid high weekend points, plus I really want to see this resort)
iii) BCV (1st choice, 12 points/night) or BWV (2nd choice, 9 points/night): studio nights of Dec 17-22
iv) Dec 22: drive to Blue Spring State Park (to swim with the manatees) and stay at am motel somewhere in that area
v) Dec 23: drive to Siesta Key : stay at a condo near the beach Dec 23-30, then fly home from Tampa. The condo in Siesta Key is also a private rental but unfortunately I won't be able to use them as a reference since this part of our holiday won't occur until after WDW.

Any suggestions/tips would be greatly appreciated.
Suzy V.

 

[Happy Birthday Cat]

I can only tell you about my experience and what I perceive.

Some but not all owners use a rental agreement. I have used one in the past and if I rented points again, would use it again. It outlines my responsibilities as well as those of the renter.

The amount of the deposit varies. I have always asked for 50% upon the renter receiving the confirmation from me that comes from Disney, so there actually ends up being a couple of weeks gap between when I have made the reservations and when I get the deposit. But I still control the points so that's no big deal.

I have never asked for references from the renter but many renters ask for them from the owner of the points. I always suggest to those renting to do a search of past posts to get an idea about the person and find out if they really do know what they are doing and to find out more about the person. Also exchange phone numbers and talk to each other.

Terms vary by owner. I have always asked for 50% up front and then the other 50% at 90 days from the start of the reservation. I will only give a refund if I can re-rent the points and will only refund up to the amount I can re-rent them for.

Good luck. Read as much as you can and you'll be ready.

HBC

 

[RobDoc]

Hello DVCers,

I am hoping to rent points for Dec /2006. I just wish we could go sooner.

A few questions if you don't mind:

1. I would feel most comfortable having a rental agreement between myself (points rental) and DVC owner. Is this commonly done?

2. Does the DVC owner usually request the deposit/full payment at time of getting the ressie at MS or not until renter has received the written confirmation from them (the one that the owner received from MS)? In all honesty, I understand that there is a lot trust involved (on both sides obviously) but I would feel most comfortable renting from a DVC owner that has a rental agreement of some sort and doesn't request deposit/full payment until after I have the confirmation paperwork from MS.

3. I would feel very comfortable being asked for references, but since I have never done this sort of thing before (rented DVC points), what sort of documentation would be sufficient? We have never done any sort of private rental before and I would just want the owner to know that I am a reliable/honest person.

4. What are the rental terms/conditions generally, or do they really vary from owner to owner?

1.) All aspects of the rental are negotiable. If you want a rental contract (a good idea, IMHO), insist on having one. You should definitely get a phone number and street address of the member you rent from. Be aware of payment deadlines and any cancellation policy.

2.) The payment policies are also negotiable. Be sure you are comfortable with any expectations - if not, find another member to work with.

3.) Usually, the renter is the one who will want (and check) references for the member. As long as payment is received, the member has little need for references from the renter.

4.) All aspects of the transaction are negotiable, so just be sure you are comfortable with everything.

I'm sure you'll be able to find someone you are confortable working with for your rental. Reservations for December, 2006 may be made in January, 2006 - so you have plenty of time to find someone to rent to you.

Enjoy the process.

 

[bongo59]

we always get paid upfront 100% before we make any ressies.............and have never had a complaint as yet

 

[mikesmom]

Suggestions re: your itinerary. The time you are planning is by far the MOST popular time for DVC members to travel because of the low points combined with great holiday decorations and low crowds that time of year. You have plenty of time of course, because you are starting a year early, but as soon as you firm up your plans, you might want to start searching for a DVC member who OWNS at the resorts you desire. You will need every bit of the 11 month owners window if you want accomodations in December.

 

[riu girl]

You have no idea how much I appreciate the information provided so far.
Thank you
Suzy V.
Please keep the info. coming. I want to learn as much as I can about this.