DVC Point Rental Question

[littleowensmommy]

I am in the process of renting out my 350 UY June 2004 points and 185 of my 2005 points. We are new SSR owners and we just returned from a Western Caribbean Disney Cruise in July and we are cruising with DCL again next summer out of LA. We plan to use 165 2005 points at HHI next June.

I have advertised my points for rent/transfer on the appropriate dis board. I have a question about what is customary to request for a deposit. A perspective renter has asked me to make a reservation for March 2005 for 12 nights that will require 229 points. My banking deadline is November 2004. What is considered a fair deposit on such a reservation and by what date should I require final payment for a 13-25 March 2005 reservation?

Thanks for your help. We don't plan on making a habit out of renting our points. We have two small children and we look forward to many DVC family trips in the years to come.

Kathy

 

[Happy Birthday Cat]

I have rented a few times and have always asked for 50% deposit which is due when they receive the confirmation. The other 50% is due 90 days before the reservation begins. I have never had trouble renting with these terms.

Good luck.

HBC

 

[spiceycat]

March is pretty popular next year - Easter is in it.

before you go an further - just call MS and ask if the time she wants is availability. If it is great - if not - you just can't do it.

your use year is June right.

I would ask for half now (after you make the reservation and send her a confirmation).

then the other half 90 days before her arrival - if they make the reservations less than 90 days I ask for it at 45 days - just may sure that you get the full amount before your 31 days cancelling period comes into effect.

 

[CarolMN]

I would also tell the renter that the deposit will be non-refundable if he doesn't complete his end of the bargain. I would tell him that he is in essence buying a reservation worth 229 points. If he has to cancel the trip, you will work with him to reschedule within the restrictions of the points you used - i.e, they must be used by end of your use year or the points expire. Never hurts to emphasize that all rescheduling depends on availability and that canceling with less than 31 days notice brings additonal restrictions on rescheduling.




Best wishes -

 

[tjkraz]

Personally, I would ask for at least 1/3 down, and final payment no later than 45 days before check-in. You have to cancel 31 days ahead to keep the points out of holding, and that gives you some room to go to extraordinary efforts to reach the renter if you have difficulties.

If you want more of the money up-front--go for it. This is your deal to construct. One time I rented points the owner asked for 1/3 prior to making the reservation and the balance due immediately after booking. I had no problem with that.

Late-April and May aren't extremely busy times, so if you do end up having to re-rent the points on short notice, you should have a pretty good shot. But I'd make it very clear that the down-payment is completely non-refundable. Some folks seem to have a problem recognizing that a DVC point rental is a little different than a standard hotel reservation where you can still call a week ahead and cancel if something comes up.

 

[Dean]

I occasionally rent out points and it's 25% when you see the confirmation and the remainder at 90 days, ALL non refundable. If I were in a situation with borrowed points and/or late in the use year, I would want more favorable terms.