??? about renting/transferring/donating points

[jghra]

First, it has been forever since I have been on this board. I went back to school and spare time is used for studying. I miss DIS!!

Anyway, I just missed by window to bank my DVC points for 2008. I have points that I need to use or do something with before my Use Year in Feb 2009. Using them right now is not an option with school. So should I rent or transfer them? Prior to my DVC owning days we rented points and had a good experience all three times.

**Anyone that rents on a regular basis, do you have a standard contract that you use?

We always did the pay 1/2 to the seller, they made the reservation and I would get the confirmation, then the other 1/2 was due something like 90 days from the reservation.

How about donating the points to charity?
Does anyone know if this is an option?

Thank you for any help you can provide.

 

[Blahnde]

First about renting, it may be tough simply because of availability right now. I'm not saying it cannot be done, but you only have 3 full months in which to make a reservation and they happen to be really, really busy months that are pretty booked already. The same will be true with transfers; while they are easier (for you), most owners looking for a transfer do it at the 11 month window, not 3 months out. Again, I'm not saying it will be impossible, but this is not the easiest of rental/transfer conditions. Because of that, you may find that you will have to discount the price you are willing to take and/or you may find it more cost effective to work with a broker.

As for donating to a charity, it is a great idea, but there are 2 things you should know. First you cannot simply donate points because the owner (you) has to control the reservation. Therefore unless the charity has a DVC account you can transfer into (I do not know of one, but they may be out there), you will have to donate a reservation. And who knows whether the charity will actually be able to use that particular reservation. The second issue is that unlike donating old appliances and kids toys at the end of the year for a tax deduction, this type of donation is not tax deductable. You should check with your own tax advisor of course, or read page 8-9 of IRS Publication 526 - Charitable Contributions. It is one area of the tax code that is pretty black and white. Obviously just because it is not deductable does not mean that you cannot or should not do it, but I just thought you should be aware BEFORE making the decision.

Blahnde

 

[np4gp]

What about booking some 5day 4night reservations and then listing them for sale on eBay? I have seen DVC ressies up for sale on eBay just in the past couple of weeks. I would assume it is not a smiled upon practice, but if you are desperate to get rid of them, might be worth the shot.

 

[Blahnde]

What about booking some 5day 4night reservations and then listing them for sale on eBay? I have seen DVC ressies up for sale on eBay just in the past couple of weeks. I would assume it is not a smiled upon practice, but if you are desperate to get rid of them, might be worth the shot.

Obviously some people have managed to make this work, but I found it to be an expensive lesson in what not to do. In order to sell on eBay you have to be "Square Deal Trade Certified" which costs money; it was about $35 a few years ago, and it may have gone up. I personally think it is a total eBay scam, but it is not negotiable; their playground, their rules. You also have to pay eBay fees to list it and IF it sells on the final value of the sale. I tried to list what I thought was a desirable reservation when a renter flaked (BoardWalk view studio for Easter week) at a price equivalent to about $13 per point. I went through all the hassle, listed it twice, and it did not sell. I lost about $50 on my attempt. I then rented it on DIS in less than a week for the same price!

Blahnde

 

[np4gp]

Obviously some people have managed to make this work, but I found it to be an expensive lesson in what not to do. In order to sell on eBay you have to be "Square Deal Trade Certified" which costs money; it was about $35 a few years ago, and it may have gone up. I personally think it is a total eBay scam, but it is not negotiable; their playground, their rules. You also have to pay eBay fees to list it and IF it sells on the final value of the sale. I tried to list what I thought was a desirable reservation when a renter flaked (BoardWalk view studio for Easter week) at a price equivalent to about $13 per point. I went through all the hassle, listed it twice, and it did not sell. I lost about $50 on my attempt. I then rented it on DIS in less than a week for the same price!

Blahnde

That's actually really good to know because it might have been something I tried if I got desperate. I used to be an avid eBayer and lost my desire when they changed the fee structure a year or so ago and discontinued the allowance of "mystery auctions". Anyway - so much for my idea...lol.

There might be a charity that was willing to accept a reservation for a silent auction type event.

 

[jghra]

Thank you all for the good info.

I had read other things in which this type of charity transaction did not seem like it could be a tax deduction, but thank you for pointing that out because that confirms other info I had read. So I had already assumed no benefit, but helping someone in need.

I have done other things on EBay, but I am not sure I would list my DVC there. Not sure why I felt this way, but you have all provided good info to not do this.

I may get a confirmed reservation and list it on the DIS board and see what happens. Even if at a discount, I hate to lose the points when someone else could be enjoying "The Mouse"

I wish I could go right now, I am having major Disney withdrawals...
**A side effect of being a DVC member - they don't tell you that when you sign the contract

Thanks again!!

 

[Blahnde]

Thank you all for the good info.

I may get a confirmed reservation and list it on the DIS board and see what happens. Even if at a discount, I hate to lose the points when someone else could be enjoying "The Mouse"

You are welcome!

I'm not trying to be a know-it-all, but I do not know that trying to rent a reservation is the way to go. If you already had one, especially if it was something that would be considered desirable, that would be different. But renting a reservation (especially here on DISBoards) is very restrictive. The basic rule is that if the reservation is more than 30 days out you cannot list it. So you have to be "stuck" with the reservation, about to go into holding, before you can rent it on the board. Because of this, most owners who rent just rent the points. Even if they have a reservation, unless it is a very hard to get reservation (AKV concierge, OKW Grand Villa, BWV BoardWalk View, VWL between Thanksgiving and New Years, for example), they cancel it and just rent the points. And, to be honest, anything that you could get between now and February 1st would not be in that class.

It is just my opinion, but if you are trying to make your life easier, I would rent points not a reservation.

Blahnde

 

[philm]

I'm going to be renting points. This is the first time I've done this, so I want to do it right. I've got children going to college in 2010, and it breaks my heart that I can't go to Disney this coming year, but I need to prioritize, and ask my wife to understand. I'm sure she will by the way, but although it looks like I can ask for a 50% down payment via personal check before I make the reservation, just what do I say to DVC when making it? Do I give them the rentee's names? And once I make the reservations, how do I let the renter know that if I don't receive the final payment by X date, that I will cancel the reservations? As someone asked previously, is there a contract that can be signed, to protect both parties? I don't want to take advantage of anyone, but I want to protect myself too.

Thanks in advance.

Phil

 

[Laneychris]

Can youtransfer your points to someone and then I believe if you transfer points that person can still bank them? Is this right?

 

[tggrbuny]

I am thrilled to see this topic because I had so many questions. We had a great trip planned for this week...but with my DH health , it was cancelled.

I called DVC and got all the info on renting vs transferring...but I am confused about all this talk of of contracts. Where did everyone get them? Is there something standard posted somewhere? Do you need a contact? I would really appreciate if someone with experience could address this for me...

In addition is there something we as "sellers' should know that is not cover here...maybe someone can recommend an old tell all thread?

Frankly we purchase our points with the sole purpose of using them at Disney. This year has been a disappointment and I hate to compound the matter by wasting these points.

Any suggestions would be welcome.

 

[RobDoc]

...I called DVC and got all the info on renting vs transferring...but I am confused about all this talk of of contracts. Where did everyone get them? Is there something standard posted somewhere? Do you need a contact? I would really appreciate if someone with experience could address this for me...

In addition is there something we as "sellers' should know that is not cover here...maybe someone can recommend an old tell all thread?

...

Here is a thread discussing Effective DVC Point rental Contracts and here is a DVC Point Rental Primer with lots of information for both members wanting to rent and renters.

In addition, be sure to read the posts at the top of the Rent/Trade Board as there is also more information there.

 

[bobbiwoz]

I donated a weekend stay to volunteers for the Give the Kids the World organization. I contacted the Orlando based organization and told them what I wanted to do, and they set it up with volunteers. I did not do this as a tax deduction. I am always touched by how many children/families we see at MCO who get their vacations because of organizations like that.

Bobbi