Heard the bad stuff, tell me the good stuff : Renting points

[cbeard]

I'm interested in learning a little more about renting points. I've read the recommendations, suggestions and guidelines on the DIS boards and I've read a few threads about deals that went wrong.
What I'd like to hear about now is deals that went well!

Also, what kind of references can I provide a Member? It seems to me that a DVC Member has a lot more to lose than I would as a renter if something went wrong. If I was renting my points, I would certainly appreciate references from potential renters.

Thanks in advance!!

Christine

 

[BeccaG]

Well to answer in short, the "good stuff" is an extremely discounted price!

 

[Lizziejane]

I've only rented once, and happy to say it went very well. The owner I rented from was great, answered all my questions and very fair with the terms. As the pp mentioned, we got to stay at a resort that normally would have been way out of our budget. It can be a little nerve-wracking, but ti was worth it - we fell in love with the BW.

Edited by Moderator to remove specific rental information

 

[Merilyn]

I am a DVC member who has rented points out several times, mostly because I couldn't use them. I have met many good friends through the years this way. I think the cons are more on the side of the renter than the seller. As a member we can cancel a reservation 31 days out and not lose anything. I usually ask for all payment at least 90 days out because of the banking rules. You really have to trust who you are working with. I think you will find many members who are trustworthy and will work with you. Good luck with you decision and I am sure you will love renting points. DVC resorts are just wonderful and we haved stayed in several but own at OKW and VB. We have owned since 1994.

 

[Thumper4me]

I have been on both sides of the equation and have had very good experiences. A key for me is having all the rules spelled out ahead of time. I like to use a contract. It helps keep everyone's interests safeguarded.

 

[cbeard]

Wow!!
Glad to hear some good stuff! Keep it coming!!

 

[BostonDisneyKid]

Read this before renting

You will find some great information on the good, the bad and the ugly of "renting" in this thread and other links within.

Good luck and I hope your renting experience is one of the good ones...

 

[chepic]

We sold some through this board without any difficulty. We asked for the $ in a bank or cashiers check, got it, cashed it, then made the reservations...all went very well for both parties.

 

[cbeard]

Thanks BDK!! This was one of the first threads I checked out. Very helpful indeed. Guess I'll just have to jump in and give it a try. Staying mindful of all the recommendations of course!

 

[msteddom]

Renting convinced me to become a member!

Melissa

 

[Mamiamjo]

Renting convinced me to become a member!

Melissa

Same here!
We rented from an owner (without any problems) and then we ended up buying our own points. Once we became owners, we rented out some points that needed to be used (and we couldn't go) and had no problems with that either.

One thing to watch out for is to not rent out an RCI (or II) exchange from an exchanger. RCI & II do not allow an exchanger to rent out their exchange and they could cancel the exchange without any notice. You will see these sometimes listed on Ebay (There is another thread on this topic entitled the "Further Devaluation of Owning at DVC"). You can tell it is an exchange because there is the $95 fee that needs to be paid at check in. This only occurs on exchanges. If you are renting from an owner using their points, you will not have the $95 fee. So unless you want to risk the chance of having your reservation cancelled, I would stay far away from renting an RCI (or II) exchange

 

[thelionqueen]

Renting convinced me to become a member!

Melissa

Me too! After our first stay @ OKW I KNEW I was going to be an owner. I rented twice from 2 different people here on the DIS without any problems at all. However, there is a lot of trust involved, and I must say, while waiting in line to check-in I was very nervous and ultimately relieved to see we had a reservation. It was nerve racking as the owner I rented from could've easily cancelled the reservation and we would be standing there in line, with no money for reservations looking pretty stupid. It can and has happened, but I think it's rare.
Owning my own points and calling to make my own reservations is SO much nicer

 

[permavac]

Renting convinced me to become a member!

Melissa

Ditto! I rented from two different owners for two reservations. Both transactions went very smoothly. Both times I was asked to pay the entire amount up front via PayPal (only a few months out for the stays both times). I was a little leery at first but I received the resort confirmations very quickly both times in the mail and did not have any issues during the check-in and subsequent stays. We've got a foot in the door with a small DVC contract now and hope to add on...

Terri