For those who rent out their points

[keys2kingdom]

Just out of curiousity what percentage of your bookings are in the 11 to 7 month period? I'm assuming most rentals take place six months or less from the travel date but I was just wondering whether that would be an accurate assumption or not.

 

[rinkwide]

[AUDIO]crickets[/AUDIO]

 

[keys2kingdom]

[AUDIO]crickets[/AUDIO]

Did I scare them off? Seriously, it's not anything sinister just idle curiousity.

Yoo whoo....anyone....all I can hear is a cowbell...

 

[Jeremy&Susan]

Yoo whoo....anyone....all I can hear is a cowbell...

Sorry, I'll try not to moooooove around so much.

 

[JimMIA]

[AUDIO]crickets[/AUDIO]

I heard four chirps, so I guess Rink's average rental is about four months out.

Seriously, your question is a legitimate one. Although we have a lot of concern about speculative booking at 11 months, I'd bet most rentals are arranged inside the 7 month window. I don't have any experience, but just logically, I don't think most people renting know that they even can rent almost a year out.

I checked the R/T board to see what renters were looking for and found the following

tonight - 3 months .......... 8 reservation wanted posts
3-7 months from now .......12 reservation wanted posts
greater than 7 months........7 reservation wanted posts, 4 of whom were looking for 11 months out*

That's 74% of the renters listed looking for rentals within the 7 month window, with 30% being inside 3 months.

* These four looking at 11 months out are not speculative, they're actually the opposite. They are people who have their dates far in advance and are looking to rent.

 

[tomandrobin]

 

[Squidrific]

Well I'll answer. Honestly the few times I have rented it has been with the 7month window because I have left over points that I can't bank and are not going to use. I have to say though that frankly I have found it is a huge pain. I just had someone cancel a reservation for 30 points and now I have to try to find someone to rent that so that I can refund her money. From now on I may try a last minute trip just to use them myself. No more renting for me!

 

[Dean]

I'd say 80-90% of the rentals I've done over the years have been 9-11 months out, often agreed upon prior to the 11 month window opening. But I do often rent to the same people over the years, at least the ones that don't become members.

 

[CarolMN]

Well I'll answer. Honestly the few times I have rented it has been with the 7month window because I have left over points that I can't bank and are not going to use. I have to say though that frankly I have found it is a huge pain. I just had someone cancel a reservation for 30 points and now I have to try to find someone to rent that so that I can refund her money. From now on I may try a last minute trip just to use them myself. No more renting for me!

Most owners who rent points do not do refunds - they tell the renter that the reservation is non-refundable up front before any money changes hands. Too bad you didn't have that in your agreement.

 

[spiceycat]

some last minute. but mostly mind have been like Dean - people I have rented to before.

 

[JimMIA]

I just had someone cancel a reservation for 30 points and now I have to try to find someone to rent that so that I can refund her money.

WHY? Why do you have to rent the reservation a second time?

You presumably already have the renters money; if your terms allow them to cancel and get a refund, why not just write them a check? Was their refund contingent on you being able to re-rent?

 

[Kurby]

i had to rend out my 2007 points for an april res. - did it in Sept, so that was exactly 7 months out

 

[Y-ASK]

I would say that about a third or 33% of my rentals are between 8 and 11 months. The rest are within the 7 month mark. And all sales are final. If you can't go and you can't re-book or the points expire you lose it all. No refunds.

Y-ASK

 

[luvindisneyworld]

Well I dont do refunds at all.I tell them up front that I dont do that.Now I will find another date for them but I would not refund it is to much trouble.

Well I'll answer. Honestly the few times I have rented it has been with the 7month window because I have left over points that I can't bank and are not going to use. I have to say though that frankly I have found it is a huge pain. I just had someone cancel a reservation for 30 points and now I have to try to find someone to rent that so that I can refund her money. From now on I may try a last minute trip just to use them myself. No more renting for me!

 

[Y-ASK]

Now it's my turn to ask; Why are you asking and what are you concerned about, if anything?

Y-ASK

 

[keys2kingdom]

Now it's my turn to ask; Why are you asking and what are you concerned about, if anything?

Y-ASK

I truly don't have an ulterior motive and I'm not concerned about anything in particular. I was just wondering what peoples experiences have been with renting in general as far as time frames. Jim's analysis (thanks Jim ) of the R/T board sort of bears out what I was thinking which is that most rentals (at least on these boards) seem to be people sort of stumbling upon an idea and giving it a shot fairly near their travel time.

Dean, would you say that your rentals tend to be people who are fairly well educated on how the DVC system works? And do you choose to deal only with those types of people purposely to avoid problems?

 

[Dean]

Dean, would you say that your rentals tend to be people who are fairly well educated on how the DVC system works? And do you choose to deal only with those types of people purposely to avoid problems?

A little of both. Most are educated about DVC as resorts but I'd say about 50% are not that educated about how the system itself works, the rest are to a varying degree. I keep to the KISS principle and try to be inclusive without being confusing. I don't routinely use a contract but if someone wants to I let them do one but stipulate the basic components. So far on the 3 or so times that has happened, they haven't gotten too crazy so as to confuse the situation. If that even happened and someone came back with a 2 to 3 page document with all types of nuances, I'd just say thanks but no thanks and move on. It is my opinion that most people cause more problems than they prevent with contracts. Ultimately this is a trust issue and being frank and straightforward has seemed to qualm a lot of fears most people have had.

 

[Inkmahm]

I haven't rented my points to anyone as it just seems to be too much trouble. I think I will stick to doing transfers if I have extra points in a year. I'd rather do a transfer to another member who understands the system and knows exactly what they want.

 

[Cruelladeville]

I rent my points out, and it's usually repeaters, people who need small amounts of points for weekend trips, or 5 nights during the week. They are almost always within the 7 month window. I do have people who contact me for points, and they are wanting to book October when it's September, and don't understand why I can't make that happen for them, so they don't know much about how the system works. I use most of my points myself,so I don't mind renting small amounts of points. I don't give refunds, either,for cancellations, but I will work with a renter to use their points at a future date.

 

[llmurphy17]

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