DVC Cast Member Discount & Renting Points

[jpmartinj]

I bought my DVC membership using a cast member discount. I was told by one person at DVC that you can rent your points out and another that your can't. Can anyone help?

 

[Chuck S]

I have heard that cast members sign a separate agreement with additional restrictions in exchange for getting their discount. If so, I would refer to that agreement rather than the POS, for that answer.

 

[L8blumr2]

I also purchased with a CM discount and the CM purchase agreement specifically states that we cannot rent points. I confirmed that, along with the policy for selling if we were ever so inclined , with the phone call finalizing my paperwork.

 

[Dean]

This came down 3-4 years ago. Apparently there were some CM who bought with the idea of renting and given that being a CM could give one a distinct advantage in reserving they decided to implement this policy. The problem is that only a small percentage of CM are likely to have an advantage in reservations or renting but everyone has to abide by the same rules.

 

[jpmartinj]

I read it in the CMD agreement....thats too bad beccause the overall saving isn't that much. Does DVC monitor this and what are the penalties if you do rent points?

 

[Dean]

I read it in the CMD agreement....thats too bad beccause the overall saving isn't that much. Does DVC monitor this and what are the penalties if you do rent points?

I understand they do and I understand the penatly is dismissal. Whether they'd counsel and give you a second chance, I don't know. But they certainly would be within their rights to terminate an employee on first strike as this would be a for cause issue, much like stealing.

 

[castleri]

I understand they do and I understand the penatly is dismissal. Whether they'd counsel and give you a second chance, I don't know. But they certainly would be within their rights to terminate an employee on first strike as this would be a for cause issue, much like stealing.

Wonder what would happen to the cast member if it is a family member who purchased using the CM discount and then rented points. I had read that purchasing that way was possible so would think they would be held to the same agreement about renting as if it was the CM who had bought.

 

[Dean]

Wonder what would happen to the cast member if it is a family member who purchased using the CM discount and then rented points. I had read that purchasing that way was possible so would think they would be held to the same agreement about renting as if it was the CM who had bought.

I'm afraid I can't answer that specifically. I would think it'd depend on whether an employee were on the account. If they were, no go, if not listed on the account in any way even as an associate, I doubt DVC would or could do much other than their options with the general membership. But I'd guess it depends in part on whether the buyer had to sign they wouldn't rent as part of the purchase. Maybe a CM who's also bought since this went into affect would have more info.

 

[d-r]

We bought an add on a few years ago when my wife had a part time job at the disney store with a CM discount. At that time, there was no "extra" sheet to sign.

We added on a few weeks ago at AKV, using the CM discount from my mother in law, who is a WDW cast member (my wife isn't a disney store cast member anymore, and I think that disney store cast members get a discount anymore). This time there was an additional sheet that had to be signed by us and by our MIL as the cast member. The gist of it was this:
1. You can't resell it. Disney gets it back if you decide to sell it, at the price that you paid for it. This was different than right of first refusal.
2. You agree not to rent it.
3. You actually agree not to make reservations for anyone who isn't a family member. So, for example, we've given away points for charity silent auctions. It was clear that this sort of thing wouldn't be acceptable.

It makes a lot of sense to me that they would put these limitations on there. Seemed reasonable.

 

[CarolMN]

...(snip)....It makes a lot of sense to me that they would put these limitations on there. Seemed reasonable.

Makes sense to me, too. If the limitations aren't acceptable to the CM, he/she could buy retail and forgo the discount.

 

[L8blumr2]

Wonder what would happen to the cast member if it is a family member who purchased using the CM discount and then rented points. I had read that purchasing that way was possible so would think they would be held to the same agreement about renting as if it was the CM who had bought.

We purchased as parents of a CP (my son). Our CM discount agreement says that violating this agreement can result in loss of privileges as well as disciplinary action against the "Related Cast Member" (my son) up to and including termination. My son also had to sign one.

 

[L8blumr2]

1. You can't resell it. Disney gets it back if you decide to sell it, at the price that you paid for it. This was different than right of first refusal.

Our CM agreement calls it "Repurchase Right". We must notify them (Disney) if we decide to sell and they have 30 days to decide if they want to buy it back at the price we paid for it. If they decide not to, we can sell it on the open market, subject then to ROFR.

 

[Dean]

It would seem to take away some of the benefits of buying with this discount, esp for those that bought several years ago.

 

[d-r]

It would seem to take away some of the benefits of buying with this discount, esp for those that bought several years ago.

FWIW, we didn't sign one for the points we bought several years ago so I think it is fairly new.

 

[momoflizandains]

Is it a substantial discount? The extra stipulations make it sound as if it is a pretty hefty savings.

 

[castleri]

I read on one thread awhile ago that it was 25% on top of any promo that was being done at the time. If someone bought in during the F&F promo at SSR that would have been a huge savings. I don't have first hand knowledge of this - only what was posted on another thread quite awhile ago.

 

[n2mm]

We purchased our original contract while hubby was a WDC CM. Because he was not a WDW CM we only got the 15% discount, not the 25% discount that WDW CM get. We did not have to sign any additional sheet and did not receive any restrictions. We really don't plan to rent mostly because our adult kids see to that. However, we would have to sell one day if we got to the point that we could not travel anymore. We have several contracts, but had discussed selling off some of them in the future. It really would not matter to me if Disney wanted to buy back our points. We did not purchase to make a profit, but would like to get a fair value of what our points would be worth depending how much life was left in our contract. Of course, if I could get hubby to get another CM job, this time at WDW, I would certainly buy more DVC points with a better discount. But we were happy to be able to purchase our SSR points with the incentive and CM discount in 2005.

 

[L8blumr2]

I read on one thread awhile ago that it was 25% on top of any promo that was being done at the time. If someone bought in during the F&F promo at SSR that would have been a huge savings. I don't have first hand knowledge of this - only what was posted on another thread quite awhile ago.

Yes, we got 25% off plus the 10% off on SSR that is offered, but they would not let us combine that with F&F.

Still, I feel that it was a great discount!

I did not buy with the intention to rent (it's for me to use!) and I have a guarantee (pretty much) of getting my purchase price back (did not buy as an investment) if we decide to sell. The CM I clarified all of this with said Disney is generally not interested in exerising their repurchase right after a few years, but I don't see why not.

I do see, though, why they would have that. We purchased for $65.75/point and could have turned around and sold for $83/point.

 

[3DisneyKids]

Wonder what would happen to the cast member if it is a family member who purchased using the CM discount and then rented points. I had read that purchasing that way was possible so would think they would be held to the same agreement about renting as if it was the CM who had bought.

This is my situation...my brother is the CM (actually works for ABC, not Disney directly) and I was able to purchase using his discount. I did not have to sign the agreement about renting. However, I WAS told that I could not "flip" my property in order to make a profit (buy "low" from Disney using a CM discount and then sell it on the resale market for more than I paid for it). This could result in my BROTHER losing his job. Not cool.

Nothing was ever said about not being able to rent and I never had to sign any additional paperwork, etc. I purchased in July 2006.

 

[3DisneyKids]

Yes, we got 25% off plus the 10% off on SSR that is offered, but they would not let us combine that with F&F.

Still, I feel that it was a great discount!

I did not buy with the intention to rent (it's for me to use!) and I have a guarantee (pretty much) of getting my purchase price back (did not buy as an investment) if we decide to sell. The CM I clarified all of this with said Disney is generally not interested in exerising their repurchase right after a few years, but I don't see why not.

I do see, though, why they would have that. We purchased for $65.75/point and could have turned around and sold for $83/point.

Agreed...I was able to "stack" 2 discounts but not 3 (the CM discount and the $10 off). However, my guide (who has been there since the early days) said that it does change...sometimes you can combine discounts and sometimes you only get the CM discount.