Advice for renting on this board?

[loveglobe]

I'm a new DVC owner and trying to understand the immense world of points management! I think I've got the basics down but have some specific questions - hope to get some experienced feedback.

When are good times of the year to advertise renting points for 7-11 month home resort premium rates (assuming you aren't under a time crunch to sell)? The 2015 holiday season reservation window just passed so when would be the next one - Presidents Week 2016? I'm thinking Easter and July 4th are also high demand times but would you also include smaller holidays like
Memorial/Veterans Day? Any Disney-specific events like the food and wine fest that would be good times to advertise points for?

Since the owner basically sets the price per point, I know prices may fluctuate, but is there a standard difference in price between renting and transferring?

Transferring seems like a riskier proposition but the upside is that you only need to transfer them once in a single transaction and not worry about adding dining plan or DME. Is there any other advantage to transferring instead of renting?

TIA!

 

[jekjones1558]

In a transfer situation you don't need to worry about damage to the DVC room.

 

[MAO]

I don't know why, but if you look at the Rent/Trade board here or go to a middleman's site, the number of existing reservations are either very few (in the first instance) or not accepted (in the second.) Possibly because by offering a specific reservation you are limiting your audience significantly - you might have a 1 bedroom reserved for Friday through Thursday, but someone really wants Thursday through Wednesday. If you'd offered the points for rent, and they'd done their homework and gotten in touch with you in time for you to make the reservation, that person and you probably could come to a deal. If you'd offered the points for rent, someone might have requested a studio for 2 weeks for the same number of points. ::shrug:: I don't know - just noting that renting existing reservations seems to be a very rare thing and you might want to investigate why.

And I'd think transferring would be far less risky - you're basically moving your points into someone else's account and what they do after that is not your concern. Renting your points (or a reservation) means that you are ultimately responsible for any damage to the DVC room, you are responsible if the person you rented to adds a night or upgrades the room, etc. But, since you can only transfer points to an existing DVC member in good standing (most of whom have a good handle on their own points and don't need more,) renting points is one of the few options left to you if you don't use your own points.

 

[loveglobe]

When I said transferring was riskier, I meant in that the person you transfer points to could decide not to pay you and there's no way to get the points back. At least with a rental, there's the standard of a 50% down payment and if the renter pulls out you at least still own the points. Not sure how much worth they'd have if this happened right before they were to be used, but at least they're still in your account.

But these are good points (no pun intended!) about not being on the hook for room damage or making someone's reservation when you transfer. Now what I'm still wondering is if the going rate for transferring points is the same as renting...?

 

[KAT4DISNEY]

When I said transferring was riskier, I meant in that the person you transfer points to could decide not to pay you and there's no way to get the points back. At least with a rental, there's the standard of a 50% down payment and if the renter pulls out you at least still own the points. Not sure how much worth they'd have if this happened right before they were to be used, but at least they're still in your account.

But these are good points (no pun intended!) about not being on the hook for room damage or making someone's reservation when you transfer. Now what I'm still wondering is if the going rate for transferring points is the same as renting...?

Terms are up to you, there's nothing fixed so I'm not certain why you think you wouldn't get payment ahead of time.

I personally would require payment ahead of time for a transfer. Unlike a rental which you have control of if the renter did not pay the transfer is done once you give the points over.

Be aware that the POS does state that payment cannot be accepted for a transfer.

 

[bellablue2]

i did a big transfer last week. buyer did a wire transfer to my bank account...within an hour he had the points in his account.

 

[loveglobe]

i did a big transfer last week. buyer did a wire transfer to my bank account...within an hour he had the points in his account.

Ok so you got the payment first before transferring. May I ask how you arranged that? I don't see a DVC Gold banner under your name and I thought you have to be a DIS board user for at least 6 months to use the rent/trade board.

 

[loveglobe]

Be aware that the POS does state that payment cannot be accepted for a transfer.

: 0

 

[cmrdgrs]

I regularly rent my points loveglobe, and have for years. I am a more active poster on other DVC boards and only have started to be more active posting on the DIS recently, hence my "gold" status bar under my name.

I don't think there is a "best" time to put your points up for rent. But, obviously Christmas, New Years, Food & Wine, popular holidays are good times people are looking to rent. However, people travel to WDW at all times of the year for all kinds of reasons. If you own at what brokers consider more desirable resorts (BLT, BCV, BWV, VWL, VGF, VGC, PVB or Aulani) they [brokers] charge a premium to book in the 11 month window of $16pp for their renters, and in turn pay owners $13pp for booking these resorts in this window.

If you can find renters that plan in the 11-7 month window that is best and you will be able to charge a higher dollar pp (potentially). But, most renters are not planners, that is my assessment. Spec rentals (booking a room with the hope of finding a renter) is possible, but as a PP said, matching dates exactly is difficult and if the renter can't move their dates to what you have, you will end up cancelling the reservation outside the 31 day window.

Personally, I own at VGC and VGF and charge more than $16.00pp for my points at these two resorts. But, I do a lot of leg work and finding renters at this price is harder. However, with persistence, it can be done and I don't mind doing the work, making out the contract and helping renters with their plans. I have a mail merge the prints with my contract outlining all the key dates the need to know (ADR deadline, MB customization deadline, online check-in etc.) I also send reminder e-mails when those dates are coming up for my renters. I also open WL for renters and have canceled and moved dates for renters.

So, there is a lot to think about and a lot of planning that goes into the rental process. I personally feel that many undervalue their points, but others think I overvalue mine. That's why a lot of people just go to a broker and let them deal with finding the renter for them. David's isn't the only game in town for this. There are other brokers out there too and some pay slightly more than David's and allow you to decide how you want to be paid and not force you to take your payment via Paypal (which is what David's requires).

Hope that helps!

 

[cmrdgrs]

BTW: If you are the owner doing a transfer this is an easy transaction and there is no risk to you. You get paid first and then you transfer. All you need is their DVC member number and you call MS and transfer the points. I just recently transferred 350 VGC points (over $16.00pp by the way) and I took payment via a wire transfer. The whole transaction was completed in approximate 30 minutes.

I still draw up a contact in the event of a transfer. One time on a transfer when I did this the payment the other person made for the transaction was short, and an argument ensued about what our verbal agreement was. I ended up giving them back all their money, and was only out a couple of dollars, but now I leave nothing to chance on the transfer and what we agree to for the deal to happen. I make a contract for all transactions.

 

[bellablue2]

Ok so you got the payment first before transferring. May I ask how you arranged that? I don't see a DVC Gold banner under your name and I thought you have to be a DIS board user for at least 6 months to use the rent/trade board.

transfer did not come from a rental listing on this board.

 

[mort1331]

Just remember that you can only do 1 transfer in or out per calender year per contract. That being the case I wouldnt be doing transfers for small point totals. If and when I have transfered its usually for at lease 80% of my yearly allotment, If I know I am not going that year.

 

[loveglobe]

Thanks all this is very helpful info! So once you transfer, can that member can then use those points for a 7-11 month reservation at your home resort?

 

[bellablue2]

Thanks all this is very helpful info! So once you transfer, can that member can then use those points for a 7-11 month reservation at your home resort?

yes...that member can also bank points with the same time frame requirements.

 

[kteeter]

Hello, we have been to WDW before but now they extended family wants to go and stay "together". I am new so I was just looking into renting points, but unsure the process. How many would I need to rent for a 7 people (4 Adults, and 3 kiddos- 12, 10, 2) I hope Oct 14-19, 2015 or am I too late for this year? We could always look at 2016 but don't know the kiddos school calendar yet.
Thanks!

 

[loveglobe]

Hmm well it depends on what size room you want (I'm thinking at least a 2 bed though you could technically get away with a 1 bed) and which resort. Just as an example, a standard view 2 bed at the VGF for those dates would run you 261 points but that's the high end of the scale and the points would go down for other resorts. I'm sure there's a points calculator link somewhere on this website but I'm pretty new here too so am not sure where. You could also try contacting one of the points rental agencies I'm sure they'd be happy to help you figure that out.

 

[DisneyfromDeland]

(I'm thinking at least a 2 bed though you could technically get away with a 1 bed)

I am not aware of any one bedroom that sleeps more than 5. That group is 6 plus an infant. I think they are looking at a two bedroom minimum.

 

[loveglobe]

I am not aware of any one bedroom that sleeps more than 5. That group is 6 plus an infant. I think they are looking at a two bedroom minimum.

Oops you are correct I miscounted.

 

[peaches0313]

I regularly rent my points loveglobe, and have for years. I am a more active poster on other DVC boards and only have started to be more active posting on the DIS recently, hence my "gold" status bar under my name.

I don't think there is a "best" time to put your points up for rent. But, obviously Christmas, New Years, Food & Wine, popular holidays are good times people are looking to rent. However, people travel to WDW at all times of the year for all kinds of reasons. If you own at what brokers consider more desirable resorts (BLT, BCV, BWV, VWL, VGF, VGC, PVB or Aulani) they [brokers] charge a premium to book in the 11 month window of $16pp for their renters, and in turn pay owners $13pp for booking these resorts in this window.

If you can find renters that plan in the 11-7 month window that is best and you will be able to charge a higher dollar pp (potentially). But, most renters are not planners, that is my assessment. Spec rentals (booking a room with the hope of finding a renter) is possible, but as a PP said, matching dates exactly is difficult and if the renter can't move their dates to what you have, you will end up cancelling the reservation outside the 31 day window.

Personally, I own at VGC and VGF and charge more than $16.00pp for my points at these two resorts. But, I do a lot of leg work and finding renters at this price is harder. However, with persistence, it can be done and I don't mind doing the work, making out the contract and helping renters with their plans. I have a mail merge the prints with my contract outlining all the key dates the need to know (ADR deadline, MB customization deadline, online check-in etc.) I also send reminder e-mails when those dates are coming up for my renters. I also open WL for renters and have canceled and moved dates for renters.

So, there is a lot to think about and a lot of planning that goes into the rental process. I personally feel that many undervalue their points, but others think I overvalue mine. That's why a lot of people just go to a broker and let them deal with finding the renter for them. David's isn't the only game in town for this. There are other brokers out there too and some pay slightly more than David's and allow you to decide how you want to be paid and not force you to take your payment via Paypal (which is what David's requires).

Hope that helps!

Hi there! I am about to rent points for the first time from someone on the boards, which I'm a bit nervous about. Should I be doing a contract of any sort? She seems to check out "okay" but really who ever knows?? Always makes me nervous that after I pay, she still owns the reservation and could cancel at any time. Also, is paypal the best way to pay? Thank you!!

 

[stratus]

Hi there! I am about to rent points for the first time from someone on the boards, which I'm a bit nervous about. Should I be doing a contract of any sort? She seems to check out "okay" but really who ever knows?? Always makes me nervous that after I pay, she still owns the reservation and could cancel at any time. Also, is paypal the best way to pay? Thank you!!

Get all of the personal info and verify it to the best of your ability:

Name
Phone Number
Address

Also try and get references. Contracts are good from the point of view that it is a codified way of making sure each party is under the same expectations. I am not sure if there are any legal recourse to a contract like this, I am not a lawyer