Bad idea to rent points right now?

[Miffy]

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.

That's great that you're doing this. I personally still wouldn't rent points right now and wouldn't advise anyone else to do it. The upside of having a discount for a deluxe room is completely overwhelmed by the innumerable downsides. I'd rather pay WDW--a discounted rate, of course--and have the security of knowing that pretty much no matter what, I could get my money back. Of course there could be situations where even that wouldn't work out, but now we're talking major disaster here, not possible difficulty.

 

[cmrdgrs]

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?

It's hard to say what the discounts on CRO rooms will look like, but I'm sure there will be discounts. CRO is going to give you the maximum in flexibility. If you wanted to rent, I think finding a rental would be difficult if you don't already have it lined up. Inventory is super low right now. Availability in the 7 month window for the fall is pretty much non-existent.

On the rental front: IMO, I think that anyone who goes forward past this pandemic and pays a broker or anyone for a rental, upfront and in full, is crazy. What I've read are reports that many private owners did refund renters in full when they couldn't travel or rebooked for their renters due to the closures. Brokers have been all over the board. I think I also read that one broker allowed a rebook, but if this happens again, the renter will not be allowed to rebook again? And they are out their money? I know people would rather use a broker to rent, but really IMO finding a good owner to rent from is way better.

 

[Sandisw]

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.

Not casting all owners, but the point remains that renting is riskier than being a cash guest and given this situation, one has to be comfortable with taking the risk, more than ever before.

Finding owners who offer as generous terms as Disney are few and far beteeen,

 

[cmrdgrs]

Not casting all owners, but the point remains that renting is riskier than being a cash guest and given this situation, one has to be comfortable with taking the risk, more than ever before.

Finding owners who offer as generous terms as Disney are few and far beteeen,

No question about that Sandisw. The rental front will always carry a risk, and a CRO room from a flexibility standpoint will offer you the best safest flexibility. We agree on that 100%

I was only making two points really -- #1 I think paying anyone (broker or owner) in full, up front, going forward is out of the question. Even CRO reservations don't take full payment for a room upfront. #2 If you do rent, many owners have refunded money during this pandemic, and working directly with an owner over a broker can have advantages. As the true owner of the points, the owner can do things that the middleman broker simply will not and cannot.

 

[Brian Noble]

Finding owners who offer as generous terms as Disney are few and far beteeen,

Finding owners who can make good on that offer might be even harder.

 

[lpereira]

You have no idea what owners are behind on their loans or dues. I would rent points unless I was willing to lose everything

 

[cmrdgrs]

You have no idea what owners are behind on their loans or dues. I would rent points unless I was willing to lose everything

Agreed. And I would argue the same about a broker renting owners points and just their own business in general.

As a PP said, renting is not for everyone. There was risk before the pandemic and there is risk after the pandemic.

I'm merely saying that an owner can do what a broker cannot because they actually own the points they are renting.

 

[Deb & Bill]

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....

We purchased the buy 4 get 3 free back in July 2003. I don't remember what ticket we bought or if we could use our AP.

 

[Miffy]

We purchased the buy 4 get 3 free back in July 2003. I don't remember what ticket we bought or if we could use our AP.

I'm pretty sure I did, too, and I seem to recall I used my AP and was able to save the tickets for a later trip. But that was eons ago. My memory may be incorrect about it.

 

[Disneypapa]

As many have posted, renting points even as far out as October, would be a crap shoot. Hang on best you can and see if Disney offers some big discounts for cancellable lodging

 

[FutureMrs.Incredible]

Everyone will be relieved to know that I booked three nights at AoA yesterday. Thanks for all the advice everyone! And hopefully I can rent points on a future trip when the world looks a lot more certain.

 

[Deb & Bill]

Everyone will be relieved to know that I booked three nights at AoA yesterday. Thanks for all the advice everyone! And hopefully I can rent points on a future trip when the world looks a lot more certain.

Can you tell me when you think the world will look more certain? I'm thinking it might not be in my lifetime (but I'm old, so....).

 

[FutureMrs.Incredible]

Can you tell me when you think the world will look more certain? I'm thinking it might not be in my lifetime (but I'm old, so....).

LOL I have absolutely no idea!!

 

[crisi]

It's hard to say what the discounts on CRO rooms will look like, but I'm sure there will be discounts. CRO is going to give you the maximum in flexibility. If you wanted to rent, I think finding a rental would be difficult if you don't already have it lined up. Inventory is super low right now. Availability in the 7 month window for the fall is pretty much non-existent.

On the rental front: IMO, I think that anyone who goes forward past this pandemic and pays a broker or anyone for a rental, upfront and in full, is crazy. What I've read are reports that many private owners did refund renters in full when they couldn't travel or rebooked for their renters due to the closures. Brokers have been all over the board. I think I also read that one broker allowed a rebook, but if this happens again, the renter will not be allowed to rebook again? And they are out their money? I know people would rather use a broker to rent, but really IMO finding a good owner to rent from is way better.

Likewise, I think any owner who lets a renter pay less than the amount they need to cover their dues and any other financial outlay they have (loans) would be crazy. Many members rent points because they can't afford to let them expire without covering their costs - not because they have endless piles of money to swim in and are looking to add more. If owners loose those points, they are out that money. I'll continue to use a broker for points I can't use - because there is no way I want an angry renter reaching out to me in these circumstances. This is EXACTLY why I wouldn't do a direct rental of my points to someone.

 

[cmrdgrs]

Likewise, I think any owner who lets a renter pay less than the amount they need to cover their dues and any other financial outlay they have (loans) would be crazy. Many members rent points because they can't afford to let them expire without covering their costs - not because they have endless piles of money to swim in and are looking to add more. If owners loose those points, they are out that money. I'll continue to use a broker for points I can't use - because there is no way I want an angry renter reaching out to me in these circumstances. This is EXACTLY why I wouldn't do a direct rental of my points to someone.

I'm glad renting from a broker works for you. It's great that option is there for people who prefer to be hands off.

To preface the rest of my response -- I'm not looking to rent my points or wanting a new renter -- I'm just sharing my perspective -- I've done probably two dozen plus rentals and several transfers over the course of my ownership (since 2006). I even have a rental during this time period that is impacted by the shutdown. Not once ever (even now) have I had any angry person to deal with. As a matter of fact it has been the exact opposite. I've had nothing but great interactions with people and all of them appreciate the knowledge I can share with them and the money I've saved them. In addition I don't rent for less than a broker. My rentals are over broker prices, so for me, and my needs this makes a lot more sense.

 

[crisi]

As I am just sharing mine. I think the brokers who manage to stay in business will continue to find customers and owners willing to work with them.

 

[sethschroeder]

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

Just figure out what it would cost to have a "cancel for any reason" policy on the trip. It might be cheaper to do that then rent from Disney.

Or if its a little more expensive maybe its worth it for the DVC accommodations vs whatever else you were getting.

The reason I say cancel for any reason is that it would cover regardless where as many policies are now excluding COVID19 if they didn't prior to all this.