? for Owners who have rented points.

[riatees]

I've been searching and can't find an answer to this question, so I apologize in advance if this has been answered before. As an owner, how long to you give your renter to respond when you inform them that you were able to confirm their reservation for them, before you give up on them and cancel the reservation. For example, you communicate back and forth with potential renter, they give you all of their info and ask you to make a reservation for them and you do. You inform the renter that the reservation was made and send them a copy of the confirmation along with your rental agreement stating payment terms. If serveral days go by with no communication back from the renter, how long do you give them the benefit of the doubt before you cancel the reservation and try to re-rent the points? Thanks for your input.

 

[vicki_c]

Did they already pay you for at least part of the reservation? I know when I rented - I paid the owner 1/2 on the same day that he made the reservation.

If they haven't paid you and they haven't answered your inquiries, I would cut them loose and find someone else.

(And I haven't rented my own points, but if I was in that situation - that's what I would do if they haven't given a deposit yet).

 

[mousefan1972]

Have you been communicating only through email? I would send one final email, and explicitly say "If I don't hear from you by Tuesday, I will assume you no longer want this reservation and it will be cancelled" or something like that. That way there is no misunderstanding. As an owner I have not rented my points out, but I did rent before we became owners. I paid our owner immediately once she emailed me the reservation confirmation #.

 

[momof3poohlovers]

I had to receive my renters deposit within 7 days of making the confirmation. Now, I was always in communication with them though and if something had come up, I would have waited longer if they asked. For them not to respond to you is not a good sign and I would give them until Tues. morning and if you don't hear from them, I would cancel the reservation and move on to someone else.

 

[Disneypapa]

I've rented points out as an owner about 5-6 times over a period of 5 years and have gotten at least 1/2 payment when the reservation was made. Kept in contact by email and sometimes by telephone. I would say, you should expect to hear from the renter almost immediately upon notification of reservation made and payment should be forthcoming within 7 days, otherwise you should move on to the next candidate.

 

[dvcbrad]

I've rented points out as an owner about 5-6 times over a period of 5 years and have gotten at least 1/2 payment when the reservation was made. Kept in contact by email and sometimes by telephone. I would say, you should expect to hear from the renter almost immediately upon notification of reservation made and payment should be forthcoming within 7 days, otherwise you should move on to the next candidate.

I agree with disneypapa. I have rented about the same that he has or maybe a few more. As soon as I make the reservation, I inform the renter with an email, PM or phone call, depending on how we've mostly been communicating up to that point. As soon as the confirmation arrives, I scan it and send a copy and a contract. I then expect to receive a 50% deposit within the next week to 10 days ... in fact, most of my renters have let me know when they've sent their check, and I've always let them know when I've received it. I've never encountered any difficulty with communicating after the reservation was made. Depending on the specifics of your situation, I'd be tempted to cancel after 10 days - two weeks if I had not received a check ... with the caveat of sending a 'final notice' email as another poster suggested. Good luck.

 

[LauraLea]

oh my, i never make the reservation until i get a deposit, esp. if I have to borrow any points to make it.

Laura

 

[riatees]

Thanks for all of your answers, it really helps to know how other people handle renting. I have rented in the past because we were doing the Disney Cruise and money wise that was the best way for me to go. This time I need to rent because I have borrowed points that I will not beable to use before my use year is up. For the most part, I use all of my points for my family vacations. As far as getting a deposit up front, I would be uncomfortable accepting someones money before I was sure I could get the reservation. On the other hand I have had a few people who tell me to make a reservation for them and than after a few days or a week go by, they inform me that they no longer need the reservation. No money has been exchanged yet so basically I have been turning away other potential renters and lose my original renter, and now I have to start over. I guess getting money up front would deter that, but how willing are people to send a stranger money before they have a reservation confirmation? Sorry for all the questions, like I said I don't rent often, but it is good to know how other people who rent more often handle it. Thanks again.

 

[ktbugsmom]

All of my renters have agreed to pay in full when the reservation was made. No one has had a problem with that. I have had some excellent renters - which has been nice.
Sue