Bad idea to rent points right now?

[FutureMrs.Incredible]

I had planned to book a couple of nights through David's before our cruise in October. (Don't even get me started on the likelihood of that... I already had to cancel next week's trip to DL.) I have looked at rack rates at Disney, and they are way higher than I would like for a mod room. That's the whole point of renting points, right? A better room for less!

But because of the pandemic, I am worried that I will not get my money back on the chance that Disney is still not open. This may be pure speculation at the moment, but would it be a bad idea for me to rent points right now? Should I instead just book with Disney, which can reimburse me if need be?

 

[Brian Noble]

I would not make any non-refundable travel plans right now. I certainly would not do so through an intermediary rather than directly with an owner. If I really wanted something to look forward to, I would book something that I could afford that I could cancel if need be. If that's a Value instead of a Moderate, or even offsite, so be it.

 

[Sandisw]

Unless you can afford to lose it all, I would not get into an agreement to rent points, given everything happening right now,

If the cruise becomes an issue, would you still go for the nights you secure this way?

While I do think it will open and the cruise will go,...I have an October one too....I think Disney will release discounts to get people back.

 

[_auroraborealis_]

I'll also add in that you were late for October as it was, and with people rescheduling, October availability is stink, stank, stunk.

 

[FutureMrs.Incredible]

Dang. How disappointing... Thanks for all the advice though everyone! You all confirmed my gut feeling. I will just book with Disney.

 

[SpaceMountain77]

Simply put, yes. Given Disney's reported estimate of losing $3 million per day, I would anticipate fall discounts.

 

[_auroraborealis_]

I would also be concerned about a likelihood of waves of closure. Some models suggest that to be a possibility.

 

[lovethesun12]

Don't do it.

 

[FutureMrs.Incredible]

Don't do it.

Short and to the point lol! I have to agree...

 

[icc2515]

This thread might give you some insight into the current state of the rental market.

https://www.disboards.com/threads/davids-dvc-rental-reimbursement-or-rescheduling.3796922/

 

[lovethesun12]

Short and to the point lol! I have to agree...

I had to be direct... I feel like I'm a mother telling her daughter "don't make the same mistakes I did"...

 

[LAX]

Simply put, yes. Given Disney's reported estimate of losing $3 million per day, I would anticipate fall discounts.

You might even end up with a better deal than renting points in addition to the flexibility you will have!

LAX

 

[stlrod]

I think you are safe to do a direct rental from an owner who has reasonable cancellation polices that are fair to both of you. I would not expect as deep of discounts from Disney as an owner can provide. There will be discounts, including some percentages off, but my opinion is we are more likely going to see discounts in terms of "add-ons" such as dining, tickets offers, gift cards, etc. Disney will want to protect its "brand" in terms of pricing, especially coming into the 50th Anniversary, to accomplish long-term goals. Disney will not match the 50-60% off a DVC owner can provide. It will have the inventory though that DVC owners will not (and already do not have for October.)

 

[lovethesun12]

I think you are safe to do a direct rental from an owner who has reasonable cancellation polices that are fair to both of you. I would not expect as deep of discounts from Disney as an owner can provide. There will be discounts, including some percentages off, but my opinion is we are more likely going to see discounts in terms of "add-ons" such as dining, tickets offers, gift cards, etc. Disney will want to protect its "brand" in terms of pricing, especially coming into the 50th Anniversary, to accomplish long-term goals. Disney will not match the 50-60% off a DVC owner can provide. It will have the inventory though that DVC owners will not (and already do not have for October.)

Disney has already been providing discounts similar to the rental market. I've said here on a different thread I paid $4100 last year for an 11 night cash stay through Disney at BCV at 25% off, while through DVC rentals it would currently cost $4066 (that is not even including the premium for booking in advance even though it is up a dollar or two per point from last year I think but still so comparable given the better policies disney offers). Now that said, you would have to be flexible with resorts more than likely. But in this climate I personally would absolutely not book a stay for October through points. There are two many unknowns (second wave? etc). I recently rented points and likely will receive nothing back.

 

[stlrod]

lovesthesun, very sorry about your experience, but if someone was providing you a price that was only 25% lower than Disney's or you are not likely to receive money back with what is going on today, then you rented from the wrong person. There are many, many owners working with renters now to accommodate them. I had 6 renters between 3/15 and 3/31 and every single one was either re-booked, given a refund of 1/2 cash and 1/2 points (good through 2/22) or given a complete refund. Everyone was thrilled and those who chose the 1/2 and 1/2 option are now getting a second chance of receiving all their money back as I re-rent the points. Renters need to be smart, understand that the market will likely turn in their favor and ask questions instead of assuming that some company will be more honest than your average owner. One bad apple doesn't spoil the whole bunch.

 

[Miffy]

Advice to anyone: Do NOT book anything nonrefundable right now, unless you wouldn't mind never seeing the money again.

And, OP, I wouldn't even suggest renting through a private owner right now, as no one knows what's going to happen, what availability of DVC will be like in a year or even 2 years, or whether the owner you rent from would still have their DVC when you were able to go. This is not to demean owners--I've seen a lot of great owners here, who've been working with their renters in a way that the intermediary agencies haven't been.

But no one knows how this is going to play out. Take care of your money, book through WDW, watch for discounts. Stay in a Value or Mod instead of Deluxe if that better fits your budget. And if something happens and your cruise is canceled (highly likely at this point, I'd have to guess), you'll be able to cancel your room and get your money back.

 

[Sandisw]

I think you are safe to do a direct rental from an owner who has reasonable cancellation polices that are fair to both of you. I would not expect as deep of discounts from Disney as an owner can provide. There will be discounts, including some percentages off, but my opinion is we are more likely going to see discounts in terms of "add-ons" such as dining, tickets offers, gift cards, etc. Disney will want to protect its "brand" in terms of pricing, especially coming into the 50th Anniversary, to accomplish long-term goals. Disney will not match the 50-60% off a DVC owner can provide. It will have the inventory though that DVC owners will not (and already do not have for October.)

We have no idea what the Discounts can be, Rentals are not always 50 to 60% off. My renter saved $600 off of Disney discounted rates...an additional 30% max,

Even if Disney will be doing add ons, they still make a difference. Years ago, they have the buy 4, get 3 nights free. It was almost 50% savings. We could see something like thst again

I get it,,,you are an owner who rents points, with a helpful contract. But, unless an owner will guarantee the same flexibility and cancel policies as Disney, the risk may not be something people can stomach now, especially if financial situations are different.

 

[crisi]

I think you are safe to do a direct rental from an owner who has reasonable cancellation polices that are fair to both of you. I would not expect as deep of discounts from Disney as an owner can provide. There will be discounts, including some percentages off, but my opinion is we are more likely going to see discounts in terms of "add-ons" such as dining, tickets offers, gift cards, etc. Disney will want to protect its "brand" in terms of pricing, especially coming into the 50th Anniversary, to accomplish long-term goals. Disney will not match the 50-60% off a DVC owner can provide. It will have the inventory though that DVC owners will not (and already do not have for October.)

Given the uncertainty, I don't think there is a policy that is going to be fair to both the renter and the owner. We don't know if there will be waves of closures over the next eighteen months. We don't know if Disney will change policies on banking and borrowing - either giving owners a break or suspending it entirely. Any owner who can assure a renter of full refundability right now does not care if they are completely out their money or not - and with a crashing economy, finding the owner who happens to be financially independent and can take those risks is going to be difficult. Its far more likely you will get an owner desperate to rent due to their financial circumstances, who promise anything without thinking about it, and then are in no financial shape to make good on their promises when you need a refund and they used your down payment to pay the mortgage. Uncertainty = risk and there isn't any reason for someone who doesn't own DVC to take on the risks associated with ownership right now.

 

[MICKIMINI]

Book room only with Disney and do it on the phone so you can confirm cancellation policy. Adding tix and DDP turns a room into a package and may cost you if you cancel. If a better deal comes along you can try to switch it out or upgrade, whatever it might be. I have two pending rentals as a DVC owner and am stressing over possible situations later on this year/early next year and would not recommend renting right now (maybe ever). Make sure you can get your money back - all of it!

 

[stlrod]

Years ago, they have the buy 4, get 3 nights free. It was almost 50% savings.

It's closer to 40% (42.8% to be exact) and the promotion that ran in the 2008-09 recession required the purchase of a 5-day ticket. Many renters have APs's and don't need the tickets. Others don't want a full week. While that promotion also had Buy 3 Get 2 Free (a 40% savings), it also required a ticket purchase. A rental I recently made which was priced (at my normal price) was 35% of Disney's current pricing.

I get that renting is not for everyone (never has been) and that I'm not going to win this argument here right now, but to cast all owners who rent all in the same lot isn't right. This past week, I have rented 3x. I am only rent dates before the first week of November so I can offer flexible terms--complete refund if resort is closed, use of points until 2/28/22 if you cancel more than 30 days out and use of holding points until 2/28/21 if you cancel within 30 days (with a warning about restrictions on holding points and very limited availability.) If WDW doesn't re-open by 2/28/22, we are all going to have a lot more issues on our hands to contend with. It is not the same as cancellation through Disney which no owner will offer, but it's also pretty good if the savings are there. Some owners will stick with "no cancellation" and will probably be pushed out by those who adapt to the current situation by becoming smart about how they rent and what they can offer.