Anyone use an escrow agent when renting DVC points?

[Williamjdisney]

I am considering renting points for our next trip but do not feel comfortable with the transaction process. Does anyone use an escrow service? Also, PayPal's website says it should only be used for tangible goods that can be easily tracked.

 

[ELMC]

I am considering renting points for our next trip but do not feel comfortable with the transaction process. Does anyone use an escrow service? Also, PayPal's website says it should only be used for tangible goods that can be easily tracked.

If you are not comfortable with renting from a private owner (and there are people who aren't) then I would suggest using an established rental agency like The Timeshare Store or David's Vacation Rentals. They are reputable businesses with a long and proven history.

 

[RobDoc]

David's service - www.DVCRequest.com - escrows 50% of the transaction (giving half to the member upon making the reservation and the other half after the arrival date). I'm not aware of any members using an escrow service for their rental transactions but you can always ask and make that part of your negotiation.

Good luck!

 

[Williamjdisney]

Thanks for the reply! I am considering using David's service but even there the security of the transaction is not as "tight" as I would like... especially when you want to add the dining plan.

I might be looking for something that does not exist.

 

[RobDoc]

That is the risk involved for the renter. The benefit is the great savings that can be found, but there is some risk. If that risk exceeds the comfort level of a potential renter, making the reservation directly thru Disney may be the best way to go for peace of mind.

Good luck with your decision!

 

[Sammie]

Thanks for the reply! I am considering using David's service but even there the security of the transaction is not as "tight" as I would like... especially when you want to add the dining plan.

I might be looking for something that does not exist.

With those prices comes risk. There is no way to make it 100% safe. As to Paypal it is a convenience nothing else. They provide no security. In fact they say they do not allow transactions for the rental of timeshares.

 

[Williamjdisney]

urrgghhh.... I love a good deal but really dislike risk especially when the risk is one I am only beginning to understand. After a lot of research it appears most online escrow services are used for online purchase transactions of tangible goods and not used for intangible services like "renting". Maybe its an online business I should create!!!

Anyway, I've also read the only way to add the Disney Dining plan to this type of reservation is through the DVC Member. Is it correct that Disney Member Services will only accept a credit card or Disney gift card? If the transaction is done enough in advance why would Disney not accept another form of payment?

Thanks again!

 

[dianeschlicht]

Thanks for the reply! I am considering using David's service but even there the security of the transaction is not as "tight" as I would like... especially when you want to add the dining plan.

I might be looking for something that does not exist.

If you feel that way, then you should NOT rent points. You will have the most comfort by renting directly from Disney's CRO. Remember, the owner who is renting out the reservation is also taking a risk by renting to a stranger. Not all the risk is with you as the consumer. The owner takes the risk that you will leave a huge unpaid bill upon checkout, or use a defunct credit card causing the owner to lose the use of their membership until restitution is made.

 

[RobDoc]

urrgghhh.... I love a good deal but really dislike risk especially when the risk is one I am only beginning to understand. After a lot of research it appears most online escrow services are used for online purchase transactions of tangible goods and not used for intangible services like "renting". Maybe its an online business I should create!!!

Anyway, I've also read the only way to add the Disney Dining plan to this type of reservation is through the DVC Member. Is it correct that Disney Member Services will only accept a credit card or Disney gift card? If the transaction is done enough in advance why would Disney not accept another form of payment?

Thanks again!

At this time the DIS has never had a complaint regarding adding the DDP to a reservation. With a credit card or gift cad payment for DDP, it will go directly to Disney and would be refundable if the reservation were later cancelled.

Of course, it's possible that some members who rent could also accept the credit card themselves - but you would have recourse in that situation for at least the DDP payment.

Again, there has never been a complaint regarding a DDP failure thru the R/T Board.

 

[Williamjdisney]

If you feel that way, then you should NOT rent points. You will have the most comfort by renting directly from Disney's CRO. Remember, the owner who is renting out the reservation is also taking a risk by renting to a stranger. Not all the risk is with you as the consumer. The owner takes the risk that you will leave a huge unpaid bill upon checkout, or use a defunct credit card causing the owner to lose the use of their membership until restitution is made.

Thanks for the thought Diane as I am still trying to weigh the risk/reward aspects of renting. I do appreciate the risks on both sides of the transaction and started this thread to see if a third party "escrow" facility existed to minimize any issues. Thanks for the information and for participating in the discussion.

 

[Deb & Bill]

Thanks for the thought Diane as I am still trying to weigh the risk/reward aspects of renting. I do appreciate the risks on both sides of the transaction and started this thread to see if a third party "escrow" facility existed to minimize any issues. Thanks for the information and for participating in the discussion.

The other issue you have is when you are going. If it is less than 11 months from now, you probably need to find someone to rent from now. Summer will be almost impossible, same with October through January. It's not like waiting a month or two until you want to go and then you make a reservation.

 

[Williamjdisney]

The other issue you have is when you are going. If it is less than 11 months from now, you probably need to find someone to rent from now. Summer will be almost impossible, same with October through January. It's not like waiting a month or two until you want to go and then you make a reservation.

I'm planning a trip for November 2013!!!

 

[dianeschlicht]

I'm planning a trip for November 2013!!!

You have plenty of time then. Start looking for the owner you wish to rent from now so they can book right at the 11 month booking window next December. You should be able to research people who are renting on the rent trade board now, and choose the ones you feel meet your needs. I agree with Doc though...People who post often on the DIS and are very helpful to others online are also going to be trustworthy to rent from. The DDP isn't a problem, since you pay that by CC to Disney and not the owner/renter.

 

[Missyrose]

OP, i Just want to make sure you know that with most DVC rentals, there's no refunds for cancelations.

 

[Williamjdisney]

You have plenty of time then. The DDP isn't a problem, since you pay that by CC to Disney and not the owner/renter.

I thought only the owner making the reservation could add the DDP to the reservation, disney now required payment for DDP at point it is requested, and it must be added at least 48 hours prior to the check in date???

 

[Missyrose]

I thought only the owner making the reservation could add the DDP to the reservation, disney now required payment for DDP at point it is requested, and it must be added at least 48 hours prior to the check in date???

This is all true. Many renters have reported setting up a three-way call with Disney to give their CC for the DDP.

 

[Dean]

It has come up on occasion when I've rented. I have only use escrow once and the renter used their lawyer. We added $100 to the cost plus the renter paid for the service in addition. I have refused to use redweek's service partly because at the time it didn't play well with my Mac and partly because the service is far too lenient to the renter and risky for the owner. It's far too easy for the renter to make a claim and the rules dramatically favor them over the owner. If one is uncomfortable with an owner, you shouldn't rent from them. Those in it for business may be able to deal with this type of issue but those renting on a limited basis likely shouldn't.

 

[dianeschlicht]

I thought only the owner making the reservation could add the DDP to the reservation, disney now required payment for DDP at point it is requested, and it must be added at least 48 hours prior to the check in date???

That's correct, but there is no reason the owner can't have MS patch you in on a 3 way call so you can use your own credit card without giving it through the owner.

 

[robinb]

That's correct, but there is no reason the owner can't have MS patch you in on a 3 way call so you can use your own credit card without giving it through the owner.

I have heard that some people will load a pre-paid credit card with the amount of the DDP to protect the integrity of their regular credit card .

 

[tjkraz]

I have heard that some people will load a pre-paid credit card with the amount of the DDP to protect the integrity of their regular credit card .

It would seem there are multiple ways of going about it but each entails some risk by the non-member.

The member would be involved in any 3-way call with DVC and would thus hear whatever card numbers are provided for the DDP payment. Minutes after the conclusion of the call the member could theoretically call DVC back, cancel the DDP and ask for the charges to be reversed. The funds eventually go back onto the prepaid card / gift card. And since the member heard the card numbers at the start of the process, he/she could proceed charging against the card balance.

Far fetched perhaps but if we're looking for potential areas of abuse, that's certainly one.