DVC Rental Contract

[boucheresq]

Good morning! I'm getting ready to rent points for the first time from a nice DVC'er and I wanted to have a contract - so a few questions - for both buyers and sellers:

1. Do you feel a contract is necessary?
2. What precautions do you usually take when renting points.
3. Do you have a contract form I could see that protects both the buyer and seller?

Thanks!

 

[MAGICX2]

I am also getting ready to rent from a nicer DVC'er and would like to see your answers to these questions as well as a few of my own.
1.What is your money (deposit) timeline?
2.Do you require 50% at time ressie is made?

 

[The Disney Bunch]

Hi- we have rented our leftover points for the past 8 or so years. We've never had a contract. We have met some wonderful people here on DIS. I can see why some people would like to have a contract but we haven't felt it necessary. We talk to the people to see what they want, check members services for availability & then book it after getting an ok from the renters. We have generally asked for a 10% non refundable deposit up front just to protect ourselves from people backing out & leaving us with points that we may not be able to use. We ask for the remainder of the funds about 30 days before. This has changed if the time frame was really short. This has worked for us & I don't think we would really change it. We send the original confirmation letter to the renters once all payments have cleared. I like to keep in contact with our renters until they go, asking if they need help, offering suggestions. If they have litle kids, I like to send old brochures that I have collected from our trips and maybe some games or coloring books or something. We've become friends with some of our previous renters and still keep in touch. We are planning to meet up with one of our renters next time we go down to WDW.

 

[JimC]

If you send me your email I can forward a sample agreement as a word document.

 

[icydog]

I have never used a contract either. I only had one person ask me to write the specifics of the rental, but she found me on a board completly separate from anything having to do with real estate or even Disney, and was therefore a little apprehensive.
I book the room only if I have assurances this is the way they want to go. Next I ask for a small deposit to show good faith. When I get the confirmation letter in the mail I fax it to them. AT that time they pay me the balance through pay pal or by check. I then forward the original confirmation letter to them by US mail. I never have had a problem. I did have this one renter who decided not to rent from me because I didn't take credit cards on pay pal. But that was her choice and I re-rented the points in a matter of days. The lady who found me on the other non related board didn't pay me the balance for her vacation until she had the original with her name on it in her hands. That's okay too if I have plenty of lead time.

I also answer quesions and provide all the info I can for my renters. I enjoy doing that since I have visited so many times. I also describe all the perks they get with my membership and how to take advantage of them. I call them at the resort on their second day there to make sure everything was alright. They are always surprised to hear from me but always happy with the accomodations and the location of the resorts.

 

[Disney Fanatic]

I am renting points for the first time and thought for about one minute about having some sort of agreement.

I guess you could have some sort of agreement about payment and cancellation terms if you feel it necessary.

Really, the way I feel is that I am here in Canada replying to an e-mail address and sending a person money that I do not even know.

What would the point of a contract be?

How could I ever recover the money if the person renting the points backed out of the agreement?

It really would not be worth the time and effort so I decided to take a risk and just go for it.

I guess my thought was that if this person really bought into DVC, then how bad can they be????!!!!

I will let you know how all works out after our trip in May.

Keeping my fingers crossed!

 

[Pumbaa_]

I have both rented (before we bought DVC) and I have rented my points out. Both times I felt better about having a signed agreement of the terms on both ends. No confusion later if there is a problem

 

[ColoradoBelle1]

I think the contract helps both parties feel that they have a fallback position re misunderstandings.

I would particularly address in a contract what happens when a renter has an emergency and cannot use the reservation. I think there are less bad feelings when the renter realizes that sometimes the points are lost and that if it isn't DVC memmber's fault that the member shouldn't take the hit. I think it important that the contract protect both parties...and not just the DVC member. Friendships are borne on trust, but a good contract promotes that trust. And with email, you can get a contract signed and sealed in minutes.

Good Luck!