Hassan Told Me I can Rent my points!

[mushpurple]

Until this week....you could rent points out. Why would anyone think that they would suddenly say you could not. I was told the same information from a different Disney rep and I have friends that were told the same thing.

 

[spiceycat]

Disney has not stopped - renting, banking or borrowing points.

only are now doing what the contracts says - one transfer per year per contract.

with a 1,000 points I can't believe you would need to transfer - unless you are renting to another DVC member. but you can still do it once. Otherwise you would need to make his reservation for him. WHICH you can still do. If you look at this as an opportunity instead of a problem, - now instead of just asking for a few points - they would need enough points for one night.....

I rent and only twice had I transferred - both times they call me.

Disney is not saying to stop renting....

 

[Disneyaholic]

Angry Mickey, whether or not you are legit, I think you are expecting waaaay too much from the people on these boards. You have already been given several answers to your original question, but you don't like any of them. (If your post is legit, I can't say I blame you...)

You signed the agreements to purchase the points and to finance the purchase through Disney. Unfortunately, there are some decisions we make in life that we are forced to live with.

 

[icydog]

I rent and only twice had I transferred - both times they call me.

Disney is not saying to stop renting....

You and I are on a slipery slope Spicy Cat. We admit we rent our points out. We are the villians of this thread and the other thread now running about the last Disney Club Newsletter.

 

[Squidrific]

Okay - I am confused here. How does the transferring of points enforcement affect renting? When I rented in the past, I just made the reservation in the renter's name and they sent me the payment. There was no transfer of points to anyone else's account.

Now also since I have 2 contracts for a total of only 200 points, my worry with the rule enforcement is that when I need an extra 13 points next year for a huge family vacation, that no one will want use their 1 transfer for such a small transaction.

 

[JohnBJr]

I called MS and they said that there was no problem renting or transferring. Hassan worked for Disney. I had no reason not to trust him. I looked on this board and saw many people renting. What more should I have done?

I'm sorry for your financial dilemma. There is nothing personal in this critique and I empathize with your plight. I wish I had the time off from making a living to utilize 1000 points. Because my family and I enjoy Disney so throughly as to be able to utilize 1000 points every year and only drive 75 miles to do so and never get tired of it, except for the fact that I have to earn a living and work 5 days a week.

So if one can't use them, why would I buy 1000 points? And the question of the day is why anyone would buy 1000 points if they could not use them personally most years unless it was for some profitable end. Surely you didn't buy them to rent or transfer at a loss? And that is the activity that I believe Disney is trying to curtail and I agree with their efforts. DVC should be for owners and their guests, not somebody I met on eBay. I wouldn't rent my house to a stranger and I consider DVC properties my home.

 

[spiceycat]

I don't look at that way.

Disney has right to stop allowing anyone but us to check in....

I once rented my other timeshares. I had to call them, send a fax, then sign a certified letter..... that was a problem.

Disney is not.

My brother is going through a bad time - so I rent some of my points - give him half (after I take out the costs).

I am hopping in a couple of years to go back to using all my points for family (me or his).

but since he just lost his job again - I don't know.

 

[dianeschlicht]

I called MS and they said that there was no problem renting or transferring. Hassan worked for Disney. I had no reason not to trust him. I looked on this board and saw many people renting. What more should I have done?

At the very least.... READ the documents and POS sent to you before you signed them.

 

[allflgirl]

You and I are on a slipery slope Spicy Cat. We admit we rent our points out. We are the villians of this thread and the other thread now running about the last Disney Club Newsletter.

I don't see anyone that rents a villian. It just doesn't make sense to me as I have a small contract (150 points) and paid too much for it to rent points out at $10 a point. Now, I'm a little put off by people who are not DVC members who insist on paying only $10 per point to rent a villa at Disney from those who shelled out thousands for their ownership.

Sorry, I had to mention that again!

 

[Angry Mickey]

You should have done the math- that would have helped. If you bought your points at $83 and with the cost of maintenance included there is no way you could make a profit at $10 a point. I see all the folks on the rent/trade boards with SSR for rent for $10 and I cringe. They are losing money for every point they rent. Their cost is greater than $10 from the get go.
I am glad however that member services said to go ahead and rent and transfer, but how about this lady in charge of affairs, or whatever she's in charge of, does she agree it is business as usual?
I for one am offended that Disney is all of a sudden taking this hard line. I have rented out excess points for years, not on ebay and not on planned holidays either, and I feel DVC is reaching into my pocketbook. I wonder if they will enforce this or if they are just showing their teeth for effect at this point.

I knew I was getting a good deal (I thought). I did not care if I was negative cash flow, as it is now selling for $101/point.

 

[mydogdrew]

I called MS and they said that there was no problem renting or transferring. Hassan worked for Disney. I had no reason not to trust him. I looked on this board and saw many people renting. What more should I have done?

So you financed the purchase of $1000 points (that you don't need) rather than using the down payment on that to pay cash for 150 points? You realize that the annual finance cost of $8300 (10%) plus dues $4000 ($4) totals more than the rental income at $10 per point. What were you thinking? This is why we assume this is fiction...

 

[dianeschlicht]

Until this week....you could rent points out. Why would anyone think that they would suddenly say you could not. I was told the same information from a different Disney rep and I have friends that were told the same thing.

You can still rent points out. That has not changed.

 

[utahkennedys]

I worry about the flexibility because for example, like another poster said, suppose you can find someone who can transfer in the 13 points you need. Then, wonder of wonders, you have to make a change after booking 11 months ahead to get your home resort...but now you need 10 more points...out of luck unless you can borrow from your next UY. Honestly, that is ridiculous to me. I agree that transferring only in one direction a year makes sense, but not one transfer per year per member. This is a real hit to DVC's flexiblity to me, and I hope I can make it all work out. I don't want too many points, b/c then I have to either bank or hope to find someone to transfer my remaining points too, but I don't want too few either. If I were buying resale this year instead of 16 months ago, this would give me serious cause to 2nd guess a DVC purchase. I was considering an add-on and this adds a big twist. Plus, I read on another board that DVC could even choose to disallow banking and borrowing, making owning DVC points a losing situation unless you have exactly the # of points for the same week, same resort every year...which would be so boring to me.

 

[JohnBJr]

I knew I was getting a good deal (I thought). I did not care if I was negative cash flow, as it is now selling for $101/point.

But now you have a problem, just like the dozen or so speculators who bought townhomes in our new complex at pre-construction prices, tried to turn them quickly to make a quick buck, the market slowed and now can't sell them. So what are they doing? They are renting them out at reduced rates to people that, quite frankly, lower the value of the neighborhood. Likewise.. at $10 per point one is only paying $80.00 for a hotel room (i.e.Sun-Thurs OKW) in a resort that normally costs upwards of $250.00 per night. It devalues the experience for owners and it appears Disney is trying to prevent that.

I have no sympathy for greed. And I am really trying to find out exactly what would motivate one to buy 1000 points if they knew up front they wouldn't use them! Did Hassan hit the "greed" hot button? I've been in sales my entire adult life and all you have to do is find the hot button. For me the hot button is the Disney magic. Nothing else matters and that seems to be enough for the majority of posters here.

And for what it is worth, I hate your name, there really is no room for an Angry Mickey in Disney's World.

If indeed this whole deal is for real.....

 

[Angry Mickey]

So you financed the purchase of $1000 points (that you don't need) rather than using the down payment on that to pay cash for 150 points? You realize that the annual finance cost of $8300 (10%) plus dues $4000 ($4) totals more than the rental income at $10 per point. What were you thinking? This is why we assume this is fiction...

I was given '05 points at no charge. That put me positive for this year (about $6000). Pricing is up (from developer), so I thought I was growing equity for when I need more points in the future. I plan to use some of the points, just not 1000 per year.

 

[dianeschlicht]

I worry about the flexibility because for example, like another poster said, suppose you can find someone who can transfer in the 13 points you need. Then, wonder of wonders, you have to make a change after booking 11 months ahead to get your home resort...but now you need 10 more points...out of luck unless you can borrow from your next UY. Honestly, that is ridiculous to me. I agree that transferring only in one direction a year makes sense, but not one transfer per year per member. This is a real hit to DVC's flexiblity to me, and I hope I can make it all work out. I don't want too many points, b/c then I have to either bank or hope to find someone to transfer my remaining points too, but I don't want too few either. If I were buying resale this year instead of 16 months ago, this would give me serious cause to 2nd guess a DVC purchase. I was considering an add-on and this adds a big twist. Plus, I read on another board that DVC could even choose to disallow banking and borrowing, making owning DVC points a losing situation unless you have exactly the # of points for the same week, same resort every year...which would be so boring to me.

Well, if they got rid of banking and borrowing, I agree that would be a HUGE impact, but if you own the amount of points you usually use, why does only being able to transfer in once cause inflexibility? I have been a member for 9 years, and I have never felt the need to transfer someone elses points into my account. I've always used the banking and borrowing to accommodate my trips, and if I don't have enough to do that, I change my plans. I certainly don't go the same week or same time every year either. I do prefer certain times, but I'm more flexible than wanting the same week. I find DVC to be the best for flexibility.

 

[greenban]

I don't understand what is going on. When I toured Disney, Hassan my Disney Rep told me to buy a 1000 point contract at Saratogo Springs and I can rent my points for $10/ point on the Dis Boards. I am now paying off $83,000 and am being told that I am not supposed to rent. What am I supposed to do?

Dear AM:

Hassan told you wrong!

You can rent your points for $12.00-$13.00 here on the Disboards, and for at least $15.00 on eBay. Don't be mad at Hassan, he just lowballed you a little!

Happy renting!

-Tony

 

[Sammie]

I think we all know what is going on here and personally I am beginning to find it all very juvenille.

For one thing it is very possible that there is a CM named Hassan, that is very likely going to be in hot water over this and possibly reprimanded.

Is it truly worth that to continue this tirade against SSR.

Oh well, I believe I will go take my "boat" out for a while.

 

[mushpurple]

It is not just Hassan...many Disney reps tell people that they can rent on the disboards..

 

[greenban]

Okay - I am confused here. How does the transferring of points enforcement affect renting? When I rented in the past, I just made the reservation in the renter's name and they sent me the payment. There was no transfer of points to anyone else's account.

Now also since I have 2 contracts for a total of only 200 points, my worry with the rule enforcement is that when I need an extra 13 points next year for a huge family vacation, that no one will want use their 1 transfer for such a small transaction.

Dear Squidrific:

That may be a problem.

It may not.

I see two scenarios. Under the 'recent' one-direction transfer rule, you would have no trouble getting your points transferred, and at a 'Owner's' Price $10.00 pp or less.

Now, since there are around 100,000 members, probably someone or two someones will be looking to transfer exactly 13 points. The problem is now, how do you find them, are they a DISboards member, and what price will they ask?

So, it may have no effect, or you may pay $15.00pp.

Of course this is a moot post, since we all have read our POS, and know that no reimbursement is allowed for transferring. I'm sure none of the anti-renters, and I hope none of the pro-renters have ever received compensation of any form for transferring points, that would violate, every version of the POS, no matter what date!

-Tony