Renting points is a bit like renting someone's house at the shore. You're making an arrangement with a
DVC owner (DVC is Disney's timeshare), paying them to make a reservation for you with their points. The owner sets a cost per point, and you pay that cost times however many points are needed for the reservation.
The cost per point is entirely up to the owner - whatever they wish to charge. There's a general range that most owners fall into, it can vary somewhat with how difficult the reservation is to get.
There are some important ways in which this differs from making a hotel reservation through Disney:
1. Since this is a timeshare, limited housekeeping services come with the reservation. If you want daily housekeeping, you will have to pay separately for that.
2. Any promotions that Disney is offering don't apply to DVC reservations. No free dining, etc. Your transaction is between you and the owner (or broker, if you use a company like DVC By Request.
3. If anything goes wrong along the way, Disney can't help you. Again, the transaction is between you and the owner or broker.
4. Assume that your reservation is un-changeable once you make it, and that your money will not be refunded if you need to cancel. This is important - DVC's cancellation policies can be complex, and the owner can lose their points if you cancel, so you won't be getting your money back if you change your mind.
5. You'll find the best availability if you book at 11 months out. DVC resorts book up very quickly, and certain resorts and/or room types can be next to impossible to get if you wait.