Further devaluation of owning at DVC !!!

[culli]

We didn't have this trouble when Interval International was the exchange company because it was AGAINST POLICY to sell any II reservation. I wasn't happy when DVC changed to RCI and I am even madder if selling RCI exchange reservations is allowed!

It is not allowed, just a matter how they police the situation. However, RCI does rent DVC rooms as extra vacations.......they are pretty $$$$$ about $1800-2400 for a studio week. I assume close to CRO.

 

[nunzia]

There is a big difference between an owner who bought their points and pays annual maintenance fees on said points renting them out and a trader selling a prime DVC/RCI 2 bedroom trade obtained with their junky trade unit that they bought on Ebay for $1 may pay $450/year in fees on. That trader is making hundreds if not thousands of dollars in profit on something that you as an owner may not even be able to book as a member.

There is simply no point in owning DVC if you can buy prime reservations on Ebay for less than the cost of maintenance fees on the points. You don't think that people are going to catch onto that as more and more RCI trades show up for sale on Ebay? What, exactly, do you think will happen to the resale and rental value of the points then? ALL DVC members should care about this. It's a far cry from a DVC member renting out points that they can't use this year for $10 when they pay $5/point in fees anyways. This is pure profit for the seller and undercuts both our rental and resale value.

One of the Ebay auctions of an RCI week that I saw is selling a prime 2 bedroom week for the equivalent of $4.09/point. Do you not think that our rental and resale value will be hurt by this trend if it is not stopped? It is going to be happening more and more frequently because DVC is giving a lot of prime inventory to RCI that I never personally saw show up on II. I don't know why this is, but the scammer sellers have already caught onto it and it needs to be stopped. I definitely would be selling my DVC points if the economy were better, and frankly I may end up putting them up for sale even in the poor economy. If this keeps up, the bottom will fall out of the DVC market IMHO.

Did I read that this was aginst RCI Policies? If so..why can't we just watch ebay and report them for violations?

 

[RobDoc]

We didn't have this trouble when Interval International was the exchange company because it was AGAINST POLICY to sell any II reservation. I wasn't happy when DVC changed to RCI and I am even madder if selling RCI exchange reservations is allowed!

There were plenty of these same rentals on eBay when II was the exchange company - this is nothing new at all. It is not allowed by either II or RCI.

In the past we had LOTS of II members trying to rent exchanges here on the DIS and it's not allowed here either for II or RCI exchanges.

 

[culli]

Did I read that this was aginst RCI Policies? If so..why can't we just watch ebay and report them for violations?

I hope people do this

 

[TDC Nala]

I am afraid I am not entirely sure why this should bother me.

 

[sean-1966]

I found this guy on E-bay.

If he doesn't define a commercial renter I'm not sure what does.

 

[Nikisha421]

what words are we using to search for these renters???

 

[ammo]

what words are we using to search for these renters???

If you are looking on eBay, just type the names of the various resorts.

 

[madouglas3]

I was going to buy another 100 points but changed my mind after I saw how many units DVC deposited in RCI. Many of the weeks were 2 bedrooms and they were prime weeks. There was even a summer Hilton Head unit deposited!

I found a cheap resort and will deposit it with RCI to trade into DVC. Why pay $10,000 for 100 points when I should be able to get a 2 bedroom DVC unit for less than $700. I believe my DVC ownership has been devalued and I know if I decided to sale my points I will lose $$$$.

Mary Ann

 

[LIFERBABE]

Every auction I see is way more than $10 per point. Most are for studios Sun-Thur and there is an OKW 1 bed for March but that is a 218 point reservation that they are selling for $2600 plus the $95 fee.

Not many deals over there, too bad I hate E-bay. Looks like they are doing pretty good.

After seeing what they are selling for, I dont feel devalued at all. It also looks like they are selling the certificates.

 

[lovesparkdisney]

No worries, a small amount of this will always happen. I own DVC and another timeshare in Cancun I would get up every morning and check II to see if I could get the week I wanted by trading Cancun for Disney it was painful!! That is why I bought DVC I can get what I want and plan ahead. DVC is not an investment to me it is a way to enjoy Disney at the best resorts at a price I can afford.

 

[disney dumbo]

Looks like 2 issues here:
1. selling on ebay. I thought ebay was strict on selling of travel... to protect potential purchasers. So, I would think if selling on ebay breaks either DVC or RCI rules... and someone showed them where it was not allowed by DVC or RCI... then ebay might pull the listings and somewhat police them.

Here's their rules on selling travel:
http://pages.ebay.com/help/policies/travel.html

2. It was my understanding in the past it was hard to get a DVC reservation through owning another timeshare. If it is easier now, I would say that would effect resale markets. Definitely something to know about.

 

[kimberh]

I deposited a week that I own at a very sought after RCI Resort, 2 bedroom in TN today. I put in a search for a 2 bedroom for 2010. I gave RCI two different time frames to search for. The RCI counselor told me that I may get it, with the amount of time that I had to wait for the search to work, but with it being a Disney Resort I should have patience. For those that think aquiring a DVC resort through RCI is easy, it's just not so.

I looked at the Ebay site, I saw a couple. I just didn't see that many. I saw some that look to be DVC owners using points.

What I did see were a lot of good resorts for Hawaii. For those of you looking for a good Hawaii trade, If it were me, I would rent or transfer my points, then go look for a Maui or Kauai trade. There were some very good resorts for rent in peak season, at a very good price. I also saw several Bluegreen resorts listed. There were some good resorts listed today. Disney was actually in the minority.

 

[SunnieRN]

I know that no matter how low a price I paid on a dvc rental from ebay, that if I arrived and didn't have a reservation due to rci canceling it I would be livid! What rights would the renter have and what responsibility if any would disney have in this situation?
And I guess this would once again prove; if something seems too good to be true....

 

[eliza61]

There is a big difference between an owner who bought their points and pays annual maintenance fees on said points renting them out and a trader selling a prime DVC/RCI 2 bedroom trade obtained with their junky trade unit that they bought on Ebay for $1 may pay $450/year in fees on. That trader is making hundreds if not thousands of dollars in profit on something that you as an owner may not even be able to book as a member.

There is simply no point in owning DVC if you can buy prime reservations on Ebay for less than the cost of maintenance fees on the points. You don't think that people are going to catch onto that as more and more RCI trades show up for sale on Ebay? What, exactly, do you think will happen to the resale and rental value of the points then? ALL DVC members should care .

Still not seeing a difference. If a prime reservation is booked, it's booked end of story. Whether by the owner or by a renter, the unit is not available. The trader or the owner has to pay annual maintenance fees so once again, what's the difference. You're issue is that some one is making a profit but since I brought my DVC for my personal enjoyment not for an investment or profit instrument, I have no issue.

I have more of an issue with the standard of care my property is recieving.

 

[Chuck S]

I know that no matter how low a price I paid on a dvc rental from ebay, that if I arrived and didn't have a reservation due to rci canceling it I would be livid! What rights would the renter have and what responsibility if any would disney have in this situation?
And I guess this would once again prove; if something seems too good to be true....

Disney/DVC has zero responsibility. A renter has no rghts, their transaction is with the individual they rented the reservation from, not Disney/DVC. There are no absolute guarantees in renting a DVC reservation, whether it be from ebay, or from you best friend who may have been a DVC Member for 15 years. They are private transactions, Disney/DVC bears no liability.

 

[Chuck S]

Still not seeing a difference. If a prime reservation is booked, it's booked end of story. Whether by the owner or by a renter, the unit is not available. The trader or the owner has to pay annual maintenance fees so once again, what's the difference. You're issue is that some one is making a profit but since I brought my DVC for my personal enjoyment not for an investment or profit instrument, I have no issue.

I have more of an issue with the standard of care my property is recieving.

Absolutely agree here, the difference is really just who is making the profit. Whether it is a DVC Owner or an RCI renter, the unit is technically being used by a member (assuming this is a member trade out) and would not be available for other members for point reservations. On the off chance DVC deposited a lot of Developers Points or Unsold Inventory, they still would not be available to other members for points reservations.

he maintenance fees were paid, either by a member or by the Developer.

 

[Dean]

There's only ONE reason this is a problem, because it's against RCI's rules. Otherwise, from a philosophy standpoint, it's no different than a member at another DVC resort getting a week to rent and in many ways, the RCI member is more deserving than a DVC member at a different resort because this was often a week give up in trade by a DVC member at THAT resort.

 

[LoveBWVVBR]

Did I read that this was aginst RCI Policies? If so..why can't we just watch ebay and report them for violations?

I imagine that we could. I just think that DVC/RCI should be on top of it. Maybe they don't care, though. At this point, I think we're selling our DVC if we can find a buyer. I just don't see this going anywhere good and I would like to get out with what we spent to buy in. I didn't see it as an investment per se, but in the back of my mind I always thought that we could sell the DVC if we ever needed the $$ back for something else. I see that as a diminishing possibility if people can rent prime DVC units for a song on Ebay, Redweek, etc. because RCI trades are being rented out heavily. We will trade in via RCI and/or II if they go back to II (or dual affiliate) or we'll stay at Bonnet Creek on our Wyndham points.

 

[LoveBWVVBR]

2. It was my understanding in the past it was hard to get a DVC reservation through owning another timeshare. If it is easier now, I would say that would effect resale markets. Definitely something to know about.

I don't think it was that hard to get a DVC reservation on II unless you were looking for a specific prime week. If you could be flexible, it was easy and much cheaper than owning points. However, there was a lot of studio inventory deposited to II. In RCI, there is a lot of 2 bedroom and 1 bedroom inventory being deposited. I haven't seen a lot of studios. I think that it might be marginally harder to trade in now (although still not that difficult), but the trades in are much, much better IMHO...hence, the attempted Ebaying (or, from the sounds of it, also Redweeking) of prime, desirable units. Either way, I'm ceasing to care at this point. I think our interest in owning DVC has officially run it's course.

Oh, and I agree with the person above who mentioned being more worried about the maintenance of the DVC properties. Our Thanksgiving trip to Boardwalk certainly had us surprised at the lack of maintenance. I wonder where our dues are going