Further devaluation of owning at DVC !!!

[Chuck S]

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. We will trade in via RCI and/or II or we'll stay at Bonnet Creek on our Wyndham points.

Why is it DVC's responsibility to police RCI and ebay?

 

[LoveBWVVBR]

Why is it DVC's responsibility to police RCI and ebay?

Isn't it in Disney's best interest to make sure that people who might otherwise be renting units from Disney or buying DVC aren't buying the same units from RCI renters on Ebay for a quarter of the price that Disney would charge? I suppose that you could argue that the same would go for DVC members renting points, but that is not against the rules. It IS against the rules of both RCI and II to rent out an exchange and is IS RCI's responsibility to make sure that their exchanges aren't being rented (since it is clearly against their rules).

Either way, I see the cheap Ebaying of RCI exchanges as undercutting both the rental and resale DVC markets, and I think that the "value" that DVC has held for so long is going to go south more than it already has lately. JMHO, but I think that if you ever had it in the back of your mind that you might sell your DVC someday if you needed the $$, now might be the time to try to do it.

Even if you think that you want to own your DVC points forever, never rent them out, and will them to your kids, you have to admit that circumstances do change. That is why I think that anything that undercuts the rental or resale markets should concern anyone who owns DVC.

 

[Chuck S]

Isn't it in Disney's best interest to make sure that people who might otherwise be renting units from Disney or buying DVC aren't buying the same units from RCI renters on Ebay for a quarter of the price that Disney would charge? I suppose that you could argue that the same would go for DVC members renting points, but that is not against the rules. It IS against the rules of both RCI and II to rent out an exchange and is IS RCI's responsibility to make sure that their exchanges aren't being rented (since it is clearly against their rules).

Either way, I see the cheap Ebaying of RCI exchanges as undercutting both the rental and resale DVC markets, and I think that the "value" that DVC has held for so long is going to go south more than it already has lately. JMHO, but I think that if you ever had it in the back of your mind that you might sell your DVC someday if you needed the $$, now might be the time to try to do it.

Even if you think that you want to own your DVC points forever, never rent them out, and will them to your kids, you have to admit that circumstances do change. That is why I think that anything that undercuts the rental or resale markets should concern anyone who owns DVC.

Disney's best interest, as far as CRO rentals, could be a reason to oppose RCI rentals. But this reason is not of interest to DVC, as Disney and DVC are separate operating companies. DVC, itself, really probably has no qualms. They deposited the week in to RCI, presumably because a DVC owner traded to RCI. The dues are paid by the owner. Financially, DVC has no stake in it. It is not taking a room from an owner, as the room was theoretically reserved by an owner, and can not be rented twice on points.

Disney could report the rental to RCI, but again, just as with DVC, their financial damage from an RCI rental could be minimal. It is more likely someone renting a cheap RCI week would not opt to stay on Disney property at rack rate, but would instead choose to stay offsite if a cheap RCI rental wasn't available. With the RCI rental, Disney could make some $ if DDP was added, or if the renter doesn't leave Disney property. But if they stay offsite, their isn't even that minimal income. The bean counters would likely look at all the probabilities before Disney would take action.

 

[JimMIA]

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, you are absolutely right. However, it's my understanding that Disney does have occasional problems where there are glitches with rented reservations and the whole mess ends up in the lap of some poor DVC front desk manager. Even they have no legal responsibility, they still have an irate guest having a meltdown in their lobby. And that's a problem for DVC, even if they are completely blameless...which they are.

I also think DVC should care because of this illegal (in the sense of violating RCI's rules) competition with Disney CRO. We as owners should be concerned because a lot of that lost business would be breakage income to offset our dues.

I think DVC would have every right to expect RCI to enforce their own regulations and police renting of RCI exchanges that violate their own policies. If RCI just goes at this kind of stuff, they're sure not a very good partner for DVC.

 

[OneMoreTry]

First, I don't understand why nonDVC members would take such an interest in this issue. What's the agenda here?

Second, I didn't buy DVC for an investment. But I could sell my points for 12-15% more than I paid, which isn"t bad considering the additional value recouped on vacations is more than original cost -- even after accounting for dues.

Third, I don't take a chance renting from a 3rd party and am not going to get my shorts in a wad about others that do. Ie. I wouldn't put my vacation at risk by renting it on ebay under these conditions

Fourth, I dont hear any members complaining about this so called competition -- so these complaints sound a little insipid.

Fifth, ultimately for the most part, you get what you pay for. I suspect that there are going to be some very disappointed buyers of these vacations which will lead to feedback that ultimately puts a stop to this.

If I were going to rent points -- and some day I might who knows -- I would rent them from a member i am familiar with on this forum. And I would pay the going rate that those "quality" rentals merit.

Neil

PS. Would you not buy something like a flat-panel TV or a diamond for your wife or a new car because you found that someone was renting them illegally on ebay?????