Best way to rent a confirmed ressie

[ColoradoDisneyFan]

I have been trying to "read up" on all the pros and cons of renting pts and all the ramifications to me if something goes wrong, etc. I have read some of the sample contracts, too. But what about renting a confirmed reservation because we can no longer travel at that time? How much info do I give a potential renter? A copy of the reservation but black out the ressie number? Do I demand all monies upfront..........<snip>........? This is not something I was prepared to do and I'm under the gun.

Thx.

Note: Edited by moderator to remove specific rental information.

 

[dianeschlicht]

I believe the first thing you have to do is contact MS and change the names on the reservation, or your renters will not be allowed to check in. I definitely would require payment in full BEFORE you change that ressie to their names also.

 

[Dean]

I have been trying to "read up" on all the pros and cons of renting pts and all the ramifications to me if something goes wrong, etc. I have read some of the sample contracts, too. But what about renting a confirmed reservation because we can no longer travel at that time? How much info do I give a potential renter? A copy of the reservation but black out the ressie number? Do I demand all monies upfront..........<snip>........? This is not something I was prepared to do and I'm under the gun.

Thx.

Note: Edited by moderator to remove specific rental information.

Much of this is individual. My recommendations are to not put yourself in a position where you'll lose points if something happens. The best is to reserve for things EARLY in your UY, minimize the use of banked or borrowed points and get enough money as a down payment to be safe. For me that is 25% up front and the remainder at 120 days out, all up front once we reach 120 days out. And I make it all nonrefundable. Also be very specific and exact to the potential renter. I don't use a formal contract but do include specific info along those lines and try to do as much as possible by email so there is a record.

 

[ColoradoDisneyFan]

Hopefully, this is a one time rental for us. We planned on taking this trip but family health issues have cropped up and with the new banking guidelines we cannot cancel and bank because our use year is March. Our kids are now in junior high and high school and with sports and other activities, it makes it difficult to travel except for the holidays. I don't think I can do WDW in August!!! Thanks for all the advice though. I just have to get over the disappointment of canceling this trip!!