burned by 2 renters

[Maria395712]

I made plans to rent to 2 people held my points for 2 months without a deposit , my 1st mistake, then now 2 months later they say sorry can't use them , no doubt I will ask for a deposit if having to hold points to make a ressie and I will keep their names and never rent to them
maria

 

[pumpkinboy]

There's a lesson in this for of us I guess. They just jerked you around and bottled up your points. How inconsiderate of them.

I suppose I am just more comfortable tranferring between current DVC members, bcs of the hassle of making ressies for someone else. I guess if it were a coworker or friend I might make the ressie on my points. What your experience teaches me is to get cash from them at the time you make the ressie for them, or at least far enough in advance as not to inconvenience me, if and when I do it.

Better luck next time

 

[PamOKW]

I haven't rented yet but I have seen reports where some people do require payment at the time of the reservation and consider it a "done deal". Stories like yours make me think that's the way to go.

 

[jaysue]

Or at least have them pay half of the fees up front and the other half nearer to the date perhaps based on your banking deadline or something like that


http://travelrap.com/rentsamp1.htm

 

[RayJay]

Maria

Sorry you were burned, I recently rented from 2 separate DVC members, had to pay both right away. I did not have a problem with this only as a renter laying out a couple grand I too could get burned if they change their ressies on me.

I had a great relationship/conversation with both from the beginning so I was OK. Plus I have the abilility to check my ressies and 1 member calls periodically to check in with we.

So now I'm off to disney for the X-mas and New Years holidays.

I think the Rent boards should have a rating system kinda like what E-bay has, to help renters and members see who they are dealing with and how they rate. Once you get bad marks no one is going to want to deal with you again. I would love to know the members who are easier to deal with and willing to be fair in the rental.

Happy Holidays to all
RayJay

 

[Connears]

We rented points for the first time this fall. It was a no hassle to a DVC member. I made the reservation for them and they paid in full within 5 days. Sorry for your problems.
Connears

 

[Raydude]

We just returned from a fantastic five nights on rented points at BWV. Our transaction was problem free. We payed half at the time the ressie was made and a contract was sent to us. We also were sent the paper from Disney confirming the res. was made in our name. At the three mo. out mark we payed the rest of our payment. Every thing went smooth and We never felt uncomfortable. Even Disney requires a deposit. I suggest doing the same from now on.

 

[pwoodham]

My renting strategy has been to find a renter who is posting for points on the rent/trade board and whose need matches the points and timeframe I have available. Then I contact them. At that point, I know they already want to rent and they know when and where. I have had nothing but good experiences. I have "saved" points on just one occasion, when I really was confident in the person because I understood exactly why they were renting and what the Disney trip meant for them. It was just that we were in contact before the 11 mo window opened.

I have posted on the rental board twice with mixed results. One would-be renter called me several times and I could tell they viewed me like an always-available reservation service. I finally told them I didn't think I could rent them points because they were so undecided about what they wanted to do. I haven't posted "open" points since.

I think your best bet is to get into the thought process of your renter as much as you can and then determine if you think you can work with them successfully. It's more homework, but I think it's worth it.

 

[MELSMICE]

Before we owned we rented from someone. We had to pay 1/2 at the time of agreeing to rent. The DVC owner made the ressie in our name & sent us the information. We then had to pay the balance 30 days prior to our check in date. Not that I had any intentions of cancelling, however, if someone ever did, this would certainly make then think twice.

Obviously, there could be an unforseeable circumstance that could always come up, but it doesn't sound like it in your case. If I ever rented my points (which I don't intend to do) I would definitely do something like the person we rented from.

 

[robinb]

I have rented points to non-DVC members and have had really good luck. Here is my policy:

Payment Policy

* A 25% deposit is due 1 week after the reservation is made.

* A second 25% deposit is due approximately 1 week after you receive written confirmation. The reservation will be in your name and DVC will send a written confirmation directly to you. I will also receive a copy of the confirmation as the owner of the points.

* This remaining 50% is due 90 days before the start of your reservation. This is your final payment.

* If the start of your reservation is less than 90 days from receipt of written confirmation, 75% is due approximately 1 week after you receive the confirmation. This is your final payment.

* I will accept a cashiers check, money order or personal check. I will also accept PayPal, but the renter pays the additional non-refundable PayPal fee of 2.9%.

Reservation Changes:

* Reservation changes can be done at no charge as long as the number of points used remains the same. Any change must be made according to DVC policies.

* If points have been banked or borrowed to make your reservation they must remain in that use year. BWV points expire on July 31st. OKW points expire on August 31st.

Cancellation Policy:

* If you choose to cancel, you may receive a refund if I can find another renter for your points. Refunds will be sent after I have received full payment from the new renters.

* A $50 fee will be charged for cancellation.

* You may eligible to receive a complete refund, minus the cancellation fee if you cancel 32 days prior to the start of your reservation. If very little time remains to use the points, you may only receive the amount the points were re-rented.

* You may be eligible to receive a 50% refund, minus the cancellation fee if you cancel 31-1 days prior to the start of your reservation. The points go into a "holding" status if canceled in the final month which makes them much harder to rent.

* No refunds if I cannot re-rent your points.

 

[TinkHappy]

Maria~this same thing happened to me the first time I rented out points.
But, then I tried again and found a GREAT renter who is wonderful and he and his family had a great time.

 

[Doug Wolfe]

Thanks for this post. There are a bunch of things I would never have thought of. Lot's of good suggestions.

 

[TeresaNJ]

Just wanted to say Hi Maria, we're neighbors, I live in Franklinville, and my sister lives in Deptford, on Pennsylvania Avenue! Sorry for your situation. Hope everything works out, and Happy Holidays!

 

[dilettante]

I stay away from complicated terms when renting out. Payment in full within a week or so and no refunds. This isn't a business - just a way to dump points we can't use.

 

[robinb]

Originally posted by dilettante
I stay away from complicated terms when renting out. Payment in full within a week or so and no refunds. This isn't a business - just a way to dump points we can't use.

Gee. I also look at renting my points as a service to my customers. I guess that is the difference between you and me. I like to treat my customers as I would like to be treated. Fairly. Not just as a way to dump my points and pocket their money.

 

[Dean]

Originally posted by robinb
Gee. I also look at renting my points as a service to my customers. I guess that is the difference between you and me. I like to treat my customers as I would like to be treated. Fairly. Not just as a way to dump my points and pocket their money.

I don't agree. When I do rent, I usually require 25% when they see the confirmation in their name and the rest at 90 days before the reservation. Still, it's all non refundable and the expectation is they'll pay the entire amount even if they cancel. I change the terms more in my favor when the points are at higher risk if there is a problem.

This person is not being unfair. Some people may move on because others have more favorable terms. That is between the renter and rentee. The other posters policy is not unfair though and suggesting they are treating others unfairly is unreasonable, IMO.

99% of the time when one rents, it's because they want to turn the points into cash. Why else would one want to rent out their points other than the occasional time just to help one who needs a point or two or for family or friends you're just trying to help out. In most cases the discount compared ot disney is dramatic so that is the main benefit to the renter. The terms just serve to give them options or possible to make them feel more comfortable.

 

[realpatt]

I have rented my points out twice and both times the other party paid in full as soon as I made the reservation. Both of which were made at 11 months out. I never considered doing it any other way, nor did they ask. I have rented points myself (I rented out too many of mine and wanted a couple of days at Vero) and I paid immediately. For me, once we have made the agreement it's a done deal, lets complete the transaction and keep it simple.

 

[WDWMom]

I think the problem here lies with the fact that someone has a "Customer policy " instead of just a few rules for handling the odd case of having to rent a few extra points.

 

[Doug7856]

I would like to thank everyone for their posts! I made several notes for myselft. I do not intend to rent out points, but you never know. Thanks again and Happy New Year!