??? for those who have rented DVC points??

[DPSAD95]

I am considering renting points from a DVC member for a 1BR villa in November, though I am nervous about it, because I have never done it before. Can anyone respond to how well it went for those of you who rented? Also, any tips would be appreciated! Thanks,
Patti

 

[Lori-n-NY]

I Have rented twice, the second trip is in 15 days. Everything was smooth and I would do it again if needed but I now own DVC so I will not need to.
Look over at the DVC rent/trade board.
You have to have trust in the DVC person. First thing to do when you at the rent/trade board use the calculator on the top to figure where you would like to stay and how many points you will need. Then make your second choice and even a third. Alot of DVC rooms are full but you will find availablity somewhere.
Next I would watch the rent/ trade board to see if anyone post points available to rent them send them a PM. You will need to let the DVCer know when you would like to go, for how long, what type of room, how many people. ALso give them your second and third choices. The DVC member office to make reservations is only open M-F 9-5 so the DVCer can not call and check to see what is available unless the office is open. You should discuss how much money per point and how the payments will be made. Some are 50% up front the balance 45 days before travel. It really depends on the DVC person and if they are in a banking timeframe or not.
Don't shy away from renting...it is a great chance to stay at an excellent resort.

If you have any other questions please ask away.
lori

 

[Tink10]

I've rented before & love it!

Just make sure you rent from someone reputable who will either offer a contract where both parties are covered, or if there's no contract, ask to be included in a conference call with the point owner & DVC covering all of the ressie details.

Good Luck & Have A Great Trip!

 

[DPSAD95]

I worry that if a family emergency were to come up we would lose all of our money? Is there any cushion for this type of thing?
Thanks.
Patti

 

[Happy Birthday Cat]

Originally posted by DPSAD95
I worry that if a family emergency were to come up we would lose all of our money? Is there any cushion for this type of thing?
Thanks.
Patti

Some allow it, others don't. Choose carefully. You may want to read a person's past threads on this board to get an indication of what they are like. You will find many with a long history who know a lot about DVC. You should feel comfortable with someone like that.

HBC

 

[mikesmom]

If you come up with a last minute emergency, the DVC owner would also lose! A cancel within the last 30 days before a reservation causes the points to go into a holding account. They can no longer be banked and they can only be used for another reservation 60 days before that reservation. They would also have to use the points before their use year ended. As you may know if you watch these boards, there are many times of the year that you cannot get a DVC ressie 60 days out. The owner would probably have to go to "fire sale" prices to rent to someone within a 60 day window AND get rid of them before use year end. The DVC owner stands to lose points (ergo money) if you cancel.

If you rent you should treat like a rehular reservation and perhaps buy travel insurance to protect you.

 

[Jillpie]

Lori, I'd like to ask you some questions if I could. We are DVC members, but need a couple of nights next April by renting at OKW. Do you ever feel funny about giving the person you are renting from your personal address to make the reservation? And how is the transaction take place, is it all by email or do people call each other on the phone?

 

[Lori-n-NY]

Jillpie,
Actually the DVCer making the reservation does not need your address. When you make a reservation for someone the Member Services ask for the name but never asked for their address. I thought that was weird.
When I rented points I gave the DVC owner my address and phone number. I paid with a personal check and he let me know when he got it and when it cleared. I think both parties want to know its not going to back fire so the more personal info you give the more trustworthy you would seem.( Not always I know)

Ex..If someone was renting 200 points from me and paid for 50% within the first few weeks but did not give me address or phone number I would be worried the whole time about if they are going to skip out. But I think once you talk to them via email/instant messager/phone you are more assured that they are really going to pay you for the points.

Ex. If I was renting points and did not have good contact with the person I was renting from I would be worried that they might cancel and I would not know until I showed up at WDW. I have/had the reservation form from renting points so I can call and make sure the reservation is still in tact. ANd I check on it about once every 30 days.
I'm only 15 days away from my BWV stay and I will check on the reservation again today.

Trust is the biggest factor in the renting of points no matter which side you are on.
I hope you find points from a DVC person you are comfortable with. How many do you need?? kidding I'm using all of mine next year.

Lori

 

[PamOKW]

Originally posted by Jillpie
Do you ever feel funny about giving the person you are renting from your personal address to make the reservation? And how is the transaction take place, is it all by email or do people call each other on the phone?

You have to remember that both parties are subject to these same "uneasy" feelings. At some point, you have to exchange addresses or at least P.O. Box numbers so that the hard copy of the reservation can be sent and so that payment can be made. (Some people do use PayPal or some other electronic payment form.) Member Services will not mail a confirmation to anyone but the registered member. They add a name but not an address. I think most people do speak by phone as well as e-mail but it's possible to do it all by e-mail.

Cancellation is a stumbling block because the person renting is not a hotel who can find a replacement. If someone cancels, the owner is stuck. In a true emergency, most owners will do their best to work something out (like rescheduling dates) but people should be aware that it's possible they will be stuck themselves. People shouldn't get into a rental situation unless they are sure they are taking the trip barring some catastrophe.

 

[chainkid]

I am presently renting points from another member in order to add another room to my reservations. I have also in the past rented my points to another member. First once a reservation is made for you, get the reservation number and then call member services to confirm it and add any requests. Once confirmed I send a money order for 50% down with a letter explaining the transaction requesting a signed letter in return to show agreement. We exchange addresses phone numbers etc. The Disney reservation letter should be sent to me as soon as it is received. I will then agree to pay the balance 60 days prior to my reservation date. If I have to cancel then I lose my initial deposit unless I can get the owner of the points to reschedule the trip but if they can;t its my tough luck not theirs. If I fail to send balance by 60 days I also lose my deposit and they then get the points back as well. however the points will now be worth less to them. I"ve been lucky because the several times I've had to do this everything went smoothly and I got to know another DVC member in the process. I would also keep checking with member services to know the reservation hadn't been cancelled either by the member or a computer glitch at Member services. I'm told this has happened in the past. Also if emailing keep a record of all correspondence in a folder so you have a record of everything. STILL A BIG ELEMENT OF TRUST INVOLVED.....like the stock market

 

[wdwnutze]

I rented from a DVC owner for our trip last December. We did everything by regular mail and email. The person I rented from was very nice and helpful. She answered any of my questions. I did a search for any of her posts on the Dis to get a sense of what she was like. You just have to get a good feeling about the person and trust them.

 

[Jillpie]

Thanks everyone! That was a fantastic explanation of the process. Now to find someone I can trust....I need two nights at OKW next April, 11 points a night. So what do I do now, just post it on that board? Is it as simple as that?

 

[Beth]

If you're wanting to secure this reservation in the near future, then you will need to find a member owning points at OKW, as you in the "priority booking period." (11 months out)

Once you are at 7 months out from the date of your <u>departure</u>, then an owner owning at "any" of the resorts can book the reservation.

So, phrase your request accordingly - over on the rent/trade board.