?? for those who have rented points-how do you protect yourself financially?

[hallesrymat]

Hi there! I'm new to the whole idea of renting DVC points but am very interested in it as I could potentially save some money doing so. I was hoping to get some input from people who have rented before about how your transactions went. ie- How/when did you pay the person renting to you?, How did you know the reservation was made?, What about taxes, etc.-do you pay the usual hotel taxes or do you just pay the amount of the pointsX $10(or whatever the person is charging for points)?
Was this a positive experience for you?
I'm just a little nervous about the financial risk and how I should protect myself from being "taken".
I would really appreciate any helpful tips you might have!!

 

[tkmcw]

Leslie,

I have rented points, on both ends of the transaction.

I have found the best payment method to be PayPal. If you are an eBay user, you may already have this account. It provides instant payment by drafting a bank account or charging a credit card. Personal checks and money orders are also usually welcome, if the reservation is far enough in the future. If you're within thirty days, PayPal is almost a necessity!

There are no additional taxes. The payment amount is what is agreed to by the buyer and seller. The AVERAGE is $10/point but it can be lower or higher. I personally have sold my points as low as $2 and as high as $17. I usually sell for $11.

Regarding payment timing, a deposit is usually required to have the reservation placed in your name. Payments of the balance due are spread over time (this varies according to the individual owner's policy) but the balance is usually due IN FULL prior to 31 days in advance of the arrival. Some owners require payment in full to book the reservation. It all depends on how far in advance you are booking.

You can verify the reservation once you have the confirmation number by calling DVC Member Services. This is a Member's-only line, but they will validate an existing reservation.

If you have any questions, or are interested in renting, please don't hesitate to email me directly. I would be happy to give you a call to answer any additional questions about DVC or PayPal.

Sincerely,

Tom