Davids DVC: Rental reimbursement or rescheduling?

[WDWEPCOT]

You may be offered a voucher as others who did not want to go because of covid have been - never hurts to ask versus just taking a loss.

 

[Yinn]

Just wondering....Sorry if this has already been addressed somewhere.

Now that some of the DVC Resorts have started re-opening and a few (all be it appears to be very few) people appear to be brave or crazy and checking in, Are the Owners that made the Guests's Reservations (for the current opened time period) receiving their 30% due to them on day of check-in, from David's? Simply put, has David's honored his contract with the Owner's or walked away from paying remaining balance on a valid issued contract?

I am not asking if David's honored his contracts during the closure period...that's been debated over and over! Further I am not asking what happens if they end up getting shuttered back down again due to increasing Covid cases.

The answer is no. I had a renter cancel for later in the year and I’ve already been told that I wouldn’t receive the 30% unless I re-rented.

When I made it known that I didn’t want to rerent I was told that I had to hold the reservation through check in. If I didn’t want to do that, I’d have to pay the deposit back. That’s despite the cancellation coming through, and the contract saying that if the renter cancelled, I’m still due.

 

[SleeplessInTO]

Yikes ... I’m thinking of renting out a reservation through David’s but reading through this thread is making me have some second thoughts!

 

[starry_solo]

Yikes ... I’m thinking of renting out a reservation through David’s but reading through this thread is making me have some second thoughts!

all brokers have non refundable terms

 

[SleeplessInTO]

all brokers have non refundable terms

The agreement that David’s sent me contains a force majeure clause that I’m getting mixed info on.

It sounds like they’re asking owners to repay the cash received (70%) but only giving a voucher, if that, to the renters?

 

[Yinn]

Yikes ... I’m thinking of renting out a reservation through David’s but reading through this thread is making me have some second thoughts!

Consider this. Best case, you get paid 100% and you’ll make anywhere from $4-$8/point after dues.

If they withhold the final 30% payment, you’re renting for $10.15 a point. Subtract your dues and the profit is anywhere from $0 to $4/point.

Under the new contract, force majeure you’d have to refund it all. What counts? We’re still in a global pandemic despite parks being open. Worst case, you lose points and have to refund. Netting you a loss equal to your annual dues.

 

[SleeplessInTO]

Consider this. Best case, you get paid 100% and you’ll make anywhere from $4-$8/point after dues.

If they withhold the final 30% payment, you’re renting for $10.15 a point. Subtract your dues and the profit is anywhere from $0 to $4/point.

Under the new contract, force majeure you’d have to refund it all. What counts? We’re still in a global pandemic despite parks being open. Worst case, you lose points and have to refund. Netting you a loss equal to your annual dues.

Very good points.

 

[starry_solo]

The agreement that David’s sent me contains a force majeure clause that I’m getting mixed info on.

It sounds like they’re asking owners to repay the cash received (70%) but only giving a voucher, if that, to the renters?

Oh. You're looking to rent out a reservation. I thought you were looking to rent a confirmed reservation from David's .

 

[Greg36]

Very good points.

We just rented a confirmed reservation through David's (as the owner of the reservation/contract) for early 2021. It was the first time we used David's and I definitely was unsure after reading through this thread and a few others. The points expire in March and we knew we were not going to go so we figured it is worth the risk. They are being pretty upfront now that if the resort is closed or if a government mandate prevents travel you need to refund the 70% (or they will try and re-rent the points). It definitely feels a bit like a gamble, but from my perspective, we were going to lose the points anyway. We are in Canada so getting to Orlando is that much more complex anyway. It did not take long for the reservation to rent and the renters live close to Orlando so we felt like that will improve the chances of it working out. We got paid the 70% right away but with the currency exchange I am just leaving it in paypal until check in (in case it needs to be refunded). Overall, I found David's okay to work with. It was frustrating asking for clarification but just continuing to get back cut and pasted messages from their policies. I also think under these new terms the owner is taking on much, if not all, of the risk. Having said that, they were pretty quick to respond to me, took care of the advertising, and did find someone to rent the reservation very quickly. They also handle all of the financial and contractual pieces and do seem to assume some responsibility for helping to address issues related to things like potential room damage. I can definitely see people being apprehensive using them moving forward, but for people who don't want to take on the responsibility of renting their points on their own, there are not really a lot of other options.

 

[New Mouse]

We just rented a confirmed reservation through David's (as the owner of the reservation/contract) for early 2021. It was the first time we used David's and I definitely was unsure after reading through this thread and a few others. The points expire in March and we knew we were not going to go so we figured it is worth the risk. They are being pretty upfront now that if the resort is closed or if a government mandate prevents travel you need to refund the 70% (or they will try and re-rent the points). It definitely feels a bit like a gamble, but from my perspective, we were going to lose the points anyway. We are in Canada so getting to Orlando is that much more complex anyway. It did not take long for the reservation to rent and the renters live close to Orlando so we felt like that will improve the chances of it working out. We got paid the 70% right away but with the currency exchange I am just leaving it in paypal until check in (in case it needs to be refunded). Overall, I found David's okay to work with. It was frustrating asking for clarification but just continuing to get back cut and pasted messages from their policies. I also think under these new terms the owner is taking on much, if not all, of the risk. Having said that, they were pretty quick to respond to me, took care of the advertising, and did find someone to rent the reservation very quickly. They also handle all of the financial and contractual pieces and do seem to assume some responsibility for helping to address issues related to things like potential room damage. I can definitely see people being apprehensive using them moving forward, but for people who don't want to take on the responsibility of renting their points on their own, there are not really a lot of other options.

Aside from finding a renter and maybe or maybe not giving you the money you are owed, its clear Davids will help with nothing. If thats worth $4 to $5 a point to you, have at it. I would assume that literally anything goes wrong in the future, hes going to try to pass the buck, regardless of the contract.

 

[Madame]

We just rented a confirmed reservation through David's (as the owner of the reservation/contract) for early 2021. It was the first time we used David's and I definitely was unsure after reading through this thread and a few others. The points expire in March and we knew we were not going to go so we figured it is worth the risk. They are being pretty upfront now that if the resort is closed or if a government mandate prevents travel you need to refund the 70% (or they will try and re-rent the points). It definitely feels a bit like a gamble, but from my perspective, we were going to lose the points anyway. We are in Canada so getting to Orlando is that much more complex anyway. It did not take long for the reservation to rent and the renters live close to Orlando so we felt like that will improve the chances of it working out. We got paid the 70% right away but with the currency exchange I am just leaving it in paypal until check in (in case it needs to be refunded). Overall, I found David's okay to work with. It was frustrating asking for clarification but just continuing to get back cut and pasted messages from their policies. I also think under these new terms the owner is taking on much, if not all, of the risk. Having said that, they were pretty quick to respond to me, took care of the advertising, and did find someone to rent the reservation very quickly. They also handle all of the financial and contractual pieces and do seem to assume some responsibility for helping to address issues related to things like potential room damage. I can definitely see people being apprehensive using them moving forward, but for people who don't want to take on the responsibility of renting their points on their own, there are not really a lot of other options.

I would deposit the points in RCI. Did you read the new contract over carefully? Especially the part where the owner is responsible financially for providing/paying for accommodations for the renter (which could mean $$$$ out of pocket as there is no specified limit) should the agreed upon accommodations become unavailable..?

As a Canadian who can’t be bothered to get an ITIN in order to rent via other brokers I have rented out several times through David’s. I would never do so again, *especially* given the fact that we are still at the very beginning of this pandemic.

Europe has already opened to Canadians & if we are on the verge of losing points we will deposit into RCI for use in Canada or the EU. No way would I use a broker again - their usefulness was always only the mitigation of risk & that has been nullified.

 

[Greg36]

Aside from finding a renter and maybe or maybe not giving you the money you are owed, its clear Davids will help with nothing. If thats worth $4 to $5 a point to you, have at it. I would assume that literally anything goes wrong in the future, hes going to try to pass the buck, regardless of the contract.

My goal was to get as much $$$ as possible from points that would expire anyways. At 70% payment, I am at least covering the cost of dues.

 

[Brett Wyman]

Yikes ... I’m thinking of renting out a reservation through David’s but reading through this thread is making me have some second thoughts!

If its a one time thing just rent through these forums.

 

[Greg36]

I would deposit the points in RCI. Did you read the new contract over carefully? Especially the part where the owner is responsible financially for providing/paying for accommodations for the renter (which could mean $$$$ out of pocket as there is no specified limit) should the agreed upon accommodations become unavailable..?

As a Canadian who can’t be bothered to get an ITIN in order to rent via other brokers I have rented out several times through David’s. I would never do so again, *especially* given the fact that we are still at the very beginning of this pandemic.

Europe has already opened to Canadians & if we are on the verge of losing points we will deposit into RCI for use in Canada or the EU. No way would I use a broker again - their usefulness was always only the mitigation of risk & that has been nullified.

I hear what you are saying. We did not really have any interest in RCI ourselves. Did review the contract carefully. I am not sure which part you are referring to but my read was that you can be on the hook if you do something as an owner that would cause room to be unavaliable (e.g., not keeping up on dues). If the room was not avaliable due to the pandemic (for example) that would trigger the force majeure clause and would actually offer the owner some protection (IMHO).

 

[SleeplessInTO]

If its a one time thing just rent through these forums.

I was thinking about it, I read through the rules and I’d have to purchase the platinum plan in order to post the reservation for rent (it’s not in the next 30 days). I will probably end up posting the points here though and just let the reservation go.
Was hoping the broker would make life easier in exchange for their cut of the fees but so far, not the case!

 

[SleeplessInTO]

We just rented a confirmed reservation through David's (as the owner of the reservation/contract) for early 2021. It was the first time we used David's and I definitely was unsure after reading through this thread and a few others. The points expire in March and we knew we were not going to go so we figured it is worth the risk. They are being pretty upfront now that if the resort is closed or if a government mandate prevents travel you need to refund the 70% (or they will try and re-rent the points). It definitely feels a bit like a gamble, but from my perspective, we were going to lose the points anyway. We are in Canada so getting to Orlando is that much more complex anyway. It did not take long for the reservation to rent and the renters live close to Orlando so we felt like that will improve the chances of it working out. We got paid the 70% right away but with the currency exchange I am just leaving it in paypal until check in (in case it needs to be refunded). Overall, I found David's okay to work with. It was frustrating asking for clarification but just continuing to get back cut and pasted messages from their policies. I also think under these new terms the owner is taking on much, if not all, of the risk. Having said that, they were pretty quick to respond to me, took care of the advertising, and did find someone to rent the reservation very quickly. They also handle all of the financial and contractual pieces and do seem to assume some responsibility for helping to address issues related to things like potential room damage. I can definitely see people being apprehensive using them moving forward, but for people who don't want to take on the responsibility of renting their points on their own, there are not really a lot of other options.

Hi fellow Canadian! I’m in the same boat. The responses I’ve been getting from David’s are timely but inconsistent.
I may go with the PP’s suggestion and rent the points privately on these boards.

 

[Bearval]

We just rented a confirmed reservation through David's (as the owner of the reservation/contract) for early 2021. It was the first time we used David's and I definitely was unsure after reading through this thread and a few others. The points expire in March and we knew we were not going to go so we figured it is worth the risk. They are being pretty upfront now that if the resort is closed or if a government mandate prevents travel you need to refund the 70% (or they will try and re-rent the points). It definitely feels a bit like a gamble, but from my perspective, we were going to lose the points anyway. We are in Canada so getting to Orlando is that much more complex anyway. It did not take long for the reservation to rent and the renters live close to Orlando so we felt like that will improve the chances of it working out. We got paid the 70% right away but with the currency exchange I am just leaving it in paypal until check in (in case it needs to be refunded). Overall, I found David's okay to work with. It was frustrating asking for clarification but just continuing to get back cut and pasted messages from their policies. I also think under these new terms the owner is taking on much, if not all, of the risk. Having said that, they were pretty quick to respond to me, took care of the advertising, and did find someone to rent the reservation very quickly. They also handle all of the financial and contractual pieces and do seem to assume some responsibility for helping to address issues related to things like potential room damage. I can definitely see people being apprehensive using them moving forward, but for people who don't want to take on the responsibility of renting their points on their own, there are not really a lot of other options.

I would ask for further clarification on how any " room damage" would be handled. From what I understand the contract states the renter is responsible but my question is how is that enforced? Are they required to pay Davids then he reimburses you or is the owner responsible to get reimbursement from the renter if they refuse to pay? I don't think this is very clear in the contract.

 

[La2kw]

Yikes ... I’m thinking of renting out a reservation through David’s but reading through this thread is making me have some second thoughts!

I've used them a number of times with good results. Until Covid. I'll never use them again, I don't agree with their handling of this situation and their new contract puts all liability on owners and renters and nothing on him.

 

[Princess Michele]

Just wondering....Sorry if this has already been addressed somewhere.

Now that some of the DVC Resorts have started re-opening and a few (all be it appears to be very few) people appear to be brave or crazy and checking in, Are the Owners that made the Guests's Reservations (for the current opened time period) receiving their 30% due to them on day of check-in, from David's? Simply put, has David's honored his contract with the Owner's or walked away from paying remaining balance on a valid issued contract?

I am not asking if David's honored his contracts during the closure period...that's been debated over and over! Further I am not asking what happens if they end up getting shuttered back down again due to increasing Covid cases.

I rented out points for a reservation with the check in date being today. I received my 30% payment this afternoon from David's. I do not know if the guests checked in or not. I did not receive any communication from David's that the guest wanted to cancel or change the reservation. Since the guests were from the U.K. I am assuming that they either decided to loose the money they spent, disputed the charge, or they had travel insurance.

 

[momincolorado]

Another successful chargeback report. I just logged into my chase account and have a letter dtd late June indicating that dispute has been resolved and my account was credited for the full disputed amount. Looks like 61 days between the time dispute was filed until resolution. Card was Chase Sapphire Reserve.