Hassan Told Me I can Rent my points!

[RobDoc]

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.

I'm unclear what your real issue is here. Nothing has changed and everything you state you were told is true. You can still rent reservations made using points. If you made a purchase depending on that feature, it is my opinion (and that of many others) that you did not read or have reviewed the documents you signed with your purchase as the issues involved here could have been discovered while you still had the opportunity to rescind your decision.

The notice sent out by DVC yesterday does not state that renting isn't permitted at all - however, if you are depending on renting your points in order to make the payments and are primarily using your membership to rent points, you could be viewed as a commercial renter and that was the purpose of the letter yesterday.

If you think you will not be allowed to rent any longer, please rest your mind- nothing has changed in that regard. Hassan and Disney informed you correctly in that regard.

The other issues raised in your subsequent posts are a little disturbing, since it is evident that you do not fully understand the program or what you signed in the purchase contract- especially regarding the sale of your contract.

Good luck!

 

[rinkwide]

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

But if the weather gets really rough you may have to daitch, err... I mean ditch.

 

[Sammie]

But if the weather gets really rough you may have to daitch, err... I mean ditch.

Very possible, I am watching TS Chris very carefully and hoping it will not develop into anything any stronger.

 

[greenban]

Very possible, I am watching TS Chris very carefully and hoping it will not develop into anything any stronger.

That is why (just like in SCUBA diving) you have redundant backups!

If you're going boating Sammie, have a Life Boat and a back up raft, especially if TS Chris is nearby.

Think of it this way....
BoatBoatBoat!

Will always stay afloat!

Be Safe!

-Tony

 

[Mickey Fliers]

That is why (just like in SCUBA diving) you have redundant backups!

If you're going boating Sammie, have a Life Boat and a back up raft, especially if TS Chris is nearby.

Think of it this way....
BoatBoatBoat!

Will always stay afloat!

Be Safe!

-Tony

 

[CarolA]

I am rolling on the floor laughing.

Do what you want, why do we care?

All Disney has said is a Pattern of renting for profit is a problem. If you purchased 1000 points without doing due diligence (and listening to a SALESMAN has never been DUE DILIGENCE) then that's your own fault, not Disney's. All those documents you got when you signed, did you READ them??? Probably not. Those documents pretty clearly state that Disney is in the driver's seat here and can change the rules at will. This was not like buying a second home.

And if buying a timeshare was your idea of an investment, I have a bridge I can sell you!

(And at least one of the OP's post seems to imply that Disney will pay his mortgage if he can't?) n

 

[Anjelica]

but I don't understand why everyone is getting worked up over a perceived "change"??? As a very recent and new purchaser of DVC I knew that when I signed that contract I had to follow the rules "explicity". Now if I got an exception, great for me, if not then no skin of my nose because I wasn't guaranteed anything above what is allowed by contract.

Please don't get me wrong here as I can legitimately see the need to transfer out/in points occassionally (situations arise where the need may exist) but I would think these situations shouldn't arise frequently.

I guess my point, if you can call it that, is if you signed a binding contract to do xx or yy, then don't EXPECT zz. This goes for every situation in life.....

 

[Squidrific]

I bought my first contract in Feb and my second in April, both from Hassan who was an excellent guide. In my personal experience, Hassan was actually very conservative and suggested I start with the initial 150 and see how I liked it before adding on. He also referred me to a board to rent points, but it wasn't the DIS board it was the "other" owner board. AND, this was only after I asked him where I could rent extra points - he didn't sell that.

I really have a lot of problems with what the OP perceived because Hassan is also a DVC owner and he always told me to buy smaller contracts when adding on so that it would be easy to sell one off down the road if I needed to. He strongly advised AGAINST a single large contract. Correct me if I am wrong, but if he sells 1 1,000 pt contract or 10 100 pt. contracts to the same person isn't he going to get the same commission, or is there a scale?

 

[dianeschlicht]

I bought my first contract in Feb and my second in April, both from Hassan who was an excellent guide. In my personal experience, Hassan was actually very conservative and suggested I start with the initial 150 and see how I liked it before adding on. He also referred me to a board to rent points, but it wasn't the DIS board it was the "other" owner board. AND, this was only after I asked him where I could rent extra points - he didn't sell that.

I really have a lot of problems with what the OP perceived because Hassan is also a DVC owner and he always told me to buy smaller contracts when adding on so that it would be easy to sell one off down the road if I needed to. He strongly advised AGAINST a single large contract. Correct me if I am wrong, but if he sells 1 1,000 pt contract or 10 100 pt. contracts to the same person isn't he going to get the same commission, or is there a scale?

Exactly, and that's why the OP is a bit unbelievable.

 

[Disney Doll]

Row, row, row your

 

[kimberh]

How does closing work when you buy directly at SSR? Does disney cover it or would the buyer have to pay closing? The reason I am asking, Is that why someone would buy one large contract instead of 10 100 point contracts? If disney covers closing then to buy a large contract make no sense but if there was closing then it would make a little if you wanted a 1000 points. I would never buy one large contract, to hard to get rid of down the road.

 

[Cheeky in TN]

Are renters really seen this poorly? I started out by seeing that points could be rented on this board and decided to give Old Key West a try. LOVED IT!! It got me to wondering if I should take the plunge and buy. Rented again and stayed at SSR. LOVED IT ALSO!! Decided at that point to buy contract at SSR. Renting allowed me to actually see the resort (versus just walking through) and see if DVC was for me. The main hold up for me in buying was the own/rent payback period was about 12 years. Thats a long ROI. I did not do this for profit, but do like having assets "in the money". We bought this since we love Disney and it is a way to own a piece of the Magic,all of which would not have been possible if I did not rent that first time.

I also bought a 150 pt contract thinking if I needed a few extra points I could get them transferred from someone else. Is this being enforced as a no-no now? I have not received any letters from DVC about this update.

 

[dianeschlicht]

I also bought a 150 pt contract thinking if I needed a few extra points I could get them transferred from someone else. Is this being enforced as a no-no now? I have not received any letters from DVC about this update.

YES, it is being enforced now, and YES you can still accept a transfer from someone else if you need a few more points...You are just limited to one transfer in or out a year. This really is not a change, but an effort to enforce what was in our original POS. Not sure why they ever STOPPED inforcing it, but looks like they are nipping that in the bud now.

 

[FredS]

Are renters really seen this poorly? ...

I also bought a 150 pt contract thinking if I needed a few extra points I could get them transferred from someone else. Is this being enforced as a no-no now? I have not received any letters from DVC about this update.

Despite what a few posters say, I don't think that renters are viewed poorly at all. Many of us rented before buying.

And, yes, apparently as of August 1st MS is saying that they will only allow one transfer per year. While some people say that their public offering statement noted this limit, others (myself included) only have the language that transfers are limited to one DIRECTION (either in or out, but not both) in a single year, and that is how it has worked for members in recent years -- I don't know about years ago.

I have some serious doubts as to whether Disney will enforce this "policy" for long, but who knows?

 

[magicaldisney]

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.

This is one of the most offensive things I have ever read here on the Dis. If I rent points at $10 per point I devalue the experience for others? Are you serious? You don't know me, my family, or anyone else who rents points, so how can you say we would devalue something. Just because you "own" DVC makes you no better than those who don't.

Just so you can become a little more educated......there are people out there, like myself, where the family will need to relocate for job purposes. When this happens you will find us (executive and educated families) renting instead of buying a home because we might not know how long we will be staying in one area. We by no means are renting to devalue your neighborhood. It is disappointing that these generalizations are made.

 

[JimMIA]

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'm sorry you've obviously had such an unpleasant personal experience!

Our experience on our May trip was quite different. We had a family next door to us who were very nice. We actually met them walking over to the OKW pool one morning. It was their first day at WDW and they were unsure of the drill, so we showed them where the pool was, how to get towels, etc. They were a lot like us, about the same age with a daughter 4-5 years older than ours. We enjoyed talking to them for several days, and really didn't mind that they weren't DVC owners, because we don't own a place in Aspen like they do. We really didn't feel like we were any better than they were just because we own a timeshare.

Incidentally, we also like to ski, and whenever we go someplace expensive like Aspen, we check around and get whatever deals we can get. Hopefully we won't devalue anyone's ski trip.

 

[greenban]

I'm sorry you've obviously had such an unpleasant personal experience!

Our experience on our May trip was quite different. We had a family next door to us who were very nice. We actually met them walking over to the OKW pool one morning. It was their first day at WDW and they were unsure of the drill, so we showed them where the pool was, how to get towels, etc. They were a lot like us, about the same age with a daughter 4-5 years older than ours. We enjoyed talking to them for several days, and really didn't mind that they weren't DVC owners, because we don't own a place in Aspen like they do. We really didn't feel like we were any better than they were just because we own a timeshare.

Incidentally, we also like to ski, and whenever we go someplace expensive like Aspen, we check around and get whatever deals we can get....[snip]...EMPHASIS ADDED: ... Hopefully we won't devalue anyone's ski trip. ...[/snip]

From what I've read here and on some biking related boards, you do seem to devalue Bicycle trips! No offense intended, just reporting what I have found

-Tony

 

[Para2176]

This is one of the most offensive things I have ever read here on the Dis. If I rent points at $10 per point I devalue the experience for others? Are you serious? You don't know me, my family, or anyone else who rents points, so how can you say we would devalue something. Just because you "own" DVC makes you no better than those who don't.

Just so you can become a little more educated......there are people out there, like myself, where the family will need to relocate for job purposes. When this happens you will find us (executive and educated families) renting instead of buying a home because we might not know how long we will be staying in one area. We by no means are renting to devalue your neighborhood. It is disappointing that these generalizations are made.

Today, at 10:46am, a person under the name Angry Mickey dropped a bomb on this board that has grown to 5 pages long and now ends up becoming too personal. I doubt very much if their posts are legit, since a couple of sentences posted strategically seems to get everyone going. Whether this person is legit or not, posting here about some sort of misrepresentation is best handled elsewhere, preferably with a lawyer.

This is not anyone's problem here except for the person who has supposedly purchased this contract. That persons own lack of due diligence and lack of reading of a formalized contract is an issue with their own conscience and common sense.

Somebody do us all a favor and kill this string.

Tony

 

[JimMIA]

From what I've read here and on some biking related boards, you do seem to devalue Bicycle trips! No offense intended, just reporting what I have found

-Tony

AH -- not true! I've been mortally slimed!

I devalue bicycle FLIGHTS! Especially that last technical part -- the landing.

 

[Chuck S]

I don't think there is an overall opinion against the actual "renters"...while some almost certainly are unpleasant guests, I'm sure the same can be said about some DVC members.

I've met folks on almost every visit that have been renters, most have been just like any other guest, there to enjoy Disney. As with all groups, it is the few bad apples that folks remember.