Has anyone heard of this? Restrictions on renting points too much

[DisneyGirl]

I just re-bought into DVC yesterday (VGF brought me back to DVC!), and during the closing, the closing agent said that DVC has restricted certain members from renting points after they rented points continuously (I.e., basically always sold points as a business as opposed to using them themselves). I haven't read the entire package of books yet, but couldn't find anything like this in the contract, and he couldn't point me to it. Has anyone heard of this? It's not something I'm concerned about- just curious.

 

[chalee94]

here are a couple of links:

http://www.disboards.com/showthread.php?t=3288127

http://www.disboards.com/showthread.php?t=1687889

you can find more by copying "site:disboards.com DVC commercial renting" into google.

commercial renting has been loosely defined as making 20 or more reservations per year for someone other than yourself. it's not a risk for casual renters who rent every now and then.

 

[disneynutz]

IMO DVC doesn't have a hard fast rule so they can change the policy if they see fit. I wouldn't buy DVC to rent but being able to rent is a valuable option.

Looking at all of the for rent listings and the companies that are now in the business of brokering DVC rentals, owners seem to be taking advantage of being able to rent out their unused points.

Bill

 

[Dean]

I just re-bought into DVC yesterday (VGF brought me back to DVC!), and during the closing, the closing agent said that DVC has restricted certain members from renting points after they rented points continuously (I.e., basically always sold points as a business as opposed to using them themselves). I haven't read the entire package of books yet, but couldn't find anything like this in the contract, and he couldn't point me to it. Has anyone heard of this? It's not something I'm concerned about- just curious.

The legal documents specifically allow renting but do state that commercial renting is prohibited. The current situation says they look more stringently once you get to 20 in a year or if one has a website for sales. It doesn't pose an issue for usual owners unless there were very special circumstances for large owners.

 

[3pletprincesses]

Sorry to hijack but what are the cost involved when you choose to rent out?

 

[chalee94]

Sorry to hijack but what are the cost involved when you choose to rent out?

time and frustration mostly...

there may be very rare situations where a renter may damage the villa or leave an unpaid credit card bill which could cause problems for the DVC owner. but that sort of issue has not come up in a long time so far as i've seen.

 

[robinb]

Sorry to hijack but what are the cost involved when you choose to rent out?

the only real monetary cost is the dues you paid for your points. There is also the cost of your time in setting your price, following up on your post on the DVC Rental Board, checking availability for people, drawing up a contract (I always do this when renting!), making the reservation, collecting payment, setting up DME for people (although I think they can do it through MDE now), forwarding DVC reservation emails and setting up a 3-way call if your renter wants the DDP.

You can skip a lot of the time sink by renting your points through David's DVC By Request but you'll also get less for your points.

 

[3pletprincesses]

time and frustration mostly...

there may be very rare situations where a renter may damage the villa or leave an unpaid credit card bill which could cause problems for the DVC owner. but that sort of issue has not come up in a long time so far as i've seen.

the only real monetary cost is the dues you paid for your points. There is also the cost of your time in setting your price, following up on your post on the DVC Rental Board, checking availability for people, drawing up a contract (I always do this when renting!), making the reservation, collecting payment, setting up DME for people (although I think they can do it through MDE now), forwarding DVC reservation emails and setting up a 3-way call if your renter wants the DDP.

You can skip a lot of the time sink by renting your points through David's DVC By Request but you'll also get less for your points.

thank you for the info. I thought maybe they charged something. I'm buying into to use and hopefully not rent points too often lol