Cancellation penalties?

[Jennasis]

What are the rules regarding cancelling a stay? We're hopefully going to be using points given to us by my DH's uncle for a stay in mid-September. At the moment though we are in a bit of a financial "tight spot" and there is always the chance that if things don't pan out, we may have to forgo a trip this year. If we book with Uncle's points, how late can we cancel without penalty (or without him losing those points)? I think his Uncle is da bomb for offering, so I don't want him to lose out if we can't make things work!

 

[Deb & Bill]

What are the rules regarding cancelling a stay? We're hopefully going to be using points given to us by my DH's uncle for a stay in mid-September. At the moment though we are in a bit of a financial "tight spot" and there is always the chance that if things don't pan out, we may have to forgo a trip this year. If we book with Uncle's points, how late can we cancel without penalty (or without him losing those points)? I think his Uncle is da bomb for offering, so I don't want him to lose out if we can't make things work!

Points have a shelf life. If you cancel the reservation 31 or more days out, he can bank any points that are current year points as long as he isn't past his banking deadline. Or use them until the end of his Use Year.

If you cancel 30 days or less, they become holding points and can only be used to make a reservation 60 days out or less. And they expire at the end of the use year.

 

[Jennasis]

Thanks!

 

[hakepb]

Depending on uncle's UY, the banking deadline may be June 1 (if an October UY).

If the uncle is using any banked or borrowed points, then someone needs to use them by the end of a UY (which may be as early as Sept 30)

At short notice (5 or less months out) it may be difficult to use points for different dates because DVC points rooms are occupied 98% of the time.

Personally, I would want 7 months notice. But if the uncle has "too many" points, he may not care as much as me. I would get a written cancellation date, though (explain that Disney tickets, food and transportation still cost a lot)

 

[Jennasis]

Depending on uncle's UY, the banking deadline may be June 1 (if an October UY).

If the uncle is using any banked or borrowed points, then someone needs to use them by the end of a UY (which may be as early as Sept 30)

At short notice (5 or less months out) it may be difficult to use points for different dates because DVC points rooms are occupied 98% of the time.

Personally, I would want 7 months notice. But if the uncle has "too many" points, he may not care as much as me. I would get a written cancellation date, though (explain that Disney tickets, food and transportation still cost a lot)

He does have "too many" points. Hasn't taken a trip in 3 years and has none in the foreseeable future as he is now the primary and sole caretaker of his 90 year old father who is paralyzed on the left side of his body. He offered us the use of his points when I mentioned a trip we were planning (I didn't even know he was a DVC member). I would just hate to plan something then have to cancel and he lose the points that SOMEBODY might be able to use. I'll find out his UY too!

 

[hakepb]

Sorry to hear of your uncle's father.

It is very generous of your uncle.

FYI you may want to mention there is David's rental service (a Dis sponsorer, his ad should be at the top). David does the legwork of matching renters to owners. It would pay several $/a point more than your uncle's current annual dues. He would just have to reply to an inquiry e-mail from David and be invloved in the 3 way call to make the reservation..
If the uncle does not need the money, he could just use the proceeds to gift $ to others, too.

 

[Jennasis]

Sorry to hear of your uncle's father.

It is very generous of your uncle.

FYI you may want to mention there is David's rental service (a Dis sponsorer, his ad should be at the top). David does the legwork of matching renters to owners. It would pay several $/a point more than your uncle's current annual dues. He would just have to reply to an inquiry e-mail from David and be invloved in the 3 way call to make the reservation..
If the uncle does not need the money, he could just use the proceeds to gift $ to others, too.

***forehead smack*** Why didn't I think of that??? I am so going to suggest he rent out his points he isn't using! Thank you!!