Cancellation policy for DVC members

[blessedby3]

I am going to approach friends of ours about renting some of their points (if they are not going to be using them) for next year. I was just wondering what the cancellation policy was for DVC members in case we needed to switch weeks after booking. I dont want the members to be out anything/as well as be prepared to pay any fees that might be associated with a cancellation/change. Just looking to be a bit more "in the know" before I approach them.
Also, when can a DVC member book at a resort that is not their home resort? I cant remember how many months out that is.
And...when renting points, if the point chart says I need 70, is there any tax to pay, or would I just pay (for example) $700 if its $10 per point?
Thanks!

 

[TDC Nala]

If you cancel within 30 days of the trip, the points go into "holding" which restricts your ability to book with them.

If you cancel within 24 hours of the trip, the points are forfeited.

11 months booking for home resort, 7 months for non-home resort.

As for payment and contract terms, you would take that up with the member you rent from.

 

[blessedby3]

If you cancel within 30 days of the trip, the points go into "holding" which restricts your ability to book with them.

If you cancel within 24 hours of the trip, the points are forfeited.

11 months booking for home resort, 7 months for non-home resort.

As for payment and contract terms, you would take that up with the member you rent from.

If we booked for a certain week and just needed to change the week, or the room type (ex--studio to a 1BR) would that be a problem for the DVC owner? Thanks for the quick reply!

 

[Granny]

If we booked for a certain week and just needed to change the week, or the room type (ex--studio to a 1BR) would that be a problem for the DVC owner? Thanks for the quick reply!

Changing anything about a reservation is a potential issue for the DVC owner. Changing the timing or room type would mean cancelling the existing reservation and booking a new one subject to availability.

Changing the timing may change the points needed. Changing the room type will definitely change the points needed.

As for whether your friend would be "out anything", it depends on when your trip is, when the reservations are changed, the use year of the friend's DVC contract, the status of the points being used (are they banked or borrowed) and other considerations.

I would approach your friend sooner rather than later. DVC reservations work best 7-11 months in advance. And your friend can give you the specifics of the issues that may be involved, assuming he/she is familiar with all the DVC rules.

But in general, you will want to make the reservation and stick to it. If that's an issue, you may be better off with a cash reservation that can be changed or cancelled with only you at risk.

 

[blessedby3]

Changing anything about a reservation is a potential issue for the DVC owner. Changing the timing or room type would mean cancelling the existing reservation and booking a new one subject to availability.

Changing the timing may change the points needed. Changing the room type will definitely change the points needed.

As for whether your friend would be "out anything", it depends on when your trip is, when the reservations are changed, the use year of the friend's DVC contract, the status of the points being used (are they banked or borrowed) and other considerations.

I would approach your friend sooner rather than later. DVC reservations work best 7-11 months in advance. And your friend can give you the specifics of the issues that may be involved, assuming he/she is familiar with all the DVC rules.

But in general, you will want to make the reservation and stick to it. If that's an issue, you may be better off with a cash reservation that can be changed or cancelled with only you at risk.

Thanks so much for the information. I dont think they have ever rented their points out before, thats why I was trying to find out a few things ahead of time. We are looking at going the week after Thanksgiving so we are quite a ways out from them being able to book...since AKV is not their home resort. I will try and talk with them soon, though. They may be going to use all their points and it may not be an option for us to rent from them anyway.
Thanks again for the quick replys!

 

[Lynne M]

DVC availabiliy can get very limited, very quickly, especially for certain resorts/room types and certain times of the year. You may not be able to change your dates and/or room types, simply because what you want to change to isn't available.

That's probably the biggest risk to owners with a renter who cancels: that they'll be stuck with points they can't use, because there isn't anything left to book.

Most owners who rent here on the DISboards have the policy that no money will be returned to the renter if they cancel, and that's largely why- they're at risk of losing the points.

If your friends are willing to rent to you, I'd strongly recommend waiting to make the reservation until you're absolutely, 100% certain of your dates and the room type you want.

 

[Deb & Bill]

...If your friends are willing to rent to you, I'd strongly recommend waiting to make the reservation until you're absolutely, 100% certain of your dates and the room type you want.

And the problem could be what you want and when you want it is no longer available. What you see available on the Disney website has nothing to do with what is available through points. So you may see exactly what you want on the website for cash, but that villa has been gone for months on points. They are two different inventories.

The time you are looking for needs at a minimum 7 months booking.

 

[Dean]

I am going to approach friends of ours about renting some of their points (if they are not going to be using them) for next year. I was just wondering what the cancellation policy was for DVC members in case we needed to switch weeks after booking. I dont want the members to be out anything/as well as be prepared to pay any fees that might be associated with a cancellation/change. Just looking to be a bit more "in the know" before I approach them.
Also, when can a DVC member book at a resort that is not their home resort? I cant remember how many months out that is.
And...when renting points, if the point chart says I need 70, is there any tax to pay, or would I just pay (for example) $700 if its $10 per point?
Thanks!

Most people who rent do so as a use or lose situation and I'd approach it that way unless they give you clear and written info to the contrary. No tax, $10 a point is on the low sdie in the situation noted, IMO.

 

[blessedby3]

Most people who rent do so as a use or lose situation and I'd approach it that way unless they give you clear and written info to the contrary. No tax, $10 a point is on the low sdie in the situation noted, IMO.

Yep, I was just using $10 as an example (easy math) Thanks for the help

 

[Dean]

Yep, I was just using $10 as an example (easy math) Thanks for the help

I felt that likely but also realized that if you went in to your friends with what THEY saw as a low ball offer, it could upset them. I think MOST people in this situation renting to family and friends that they trusted, would rent for less than they would on the open market, all other issues the same.

 

[Sandisw]

Thanks so much for the information. I dont think they have ever rented their points out before, thats why I was trying to find out a few things ahead of time. We are looking at going the week after Thanksgiving so we are quite a ways out from them being able to book...since AKV is not their home resort. I will try and talk with them soon, though. They may be going to use all their points and it may not be an option for us to rent from them anyway.
Thanks again for the quick replys!

That time of year is very popular for DVC so once you book, having to change could indeed be difficult in terms of availability since most owners book 11 months out.

My suggestion would be, if you will rent from there regardless of whether they can get you AKV, is to book their home resort at 11 months and then try to change at 7 months--this way you have someplace to stay if what you want is not available.

Of course, this would lock you in sooner then you may want.

Good luck!