Help - I want to rent DVC points, but I'm afraid!

[wdw1972]

I don't do contracts, and wouldn't rent to someone who wants one. I don't need the hassle - and don't *need* to rent my points to that person, because there's always someone else waiting (and I don't advertise either). /QUOTE]

Why don't you have a contract. They aren't binding, but at the same time do allow both parties to be sure that they other knows and understanbd what they are getting into as far as responsibility.

Like you said - they're not really binding. They're not going to force a person to pay if they don't want to. When I'm willing to rent points I get 100% payment, and if that payment doesn't come then I can always cancel the reservation. I handle everything through email, and save those emails. I've never had a problem with a renter, and a renter has never had a problem with me. If someone wants to pay a certain amount down and the balance later, I'll direct them to DIS to find another owner. I'm not nasty about it or anything, but I don't want to deal with the transaction not being "done".

There are many members out there who DO do contract. I think it's a waste of time, but they evidently don't....or they like the false sense of security it provides (sorta like the bag checks at the parks).

 

[bookswin]

To the OP:

There is no way to be 100% certain with this. DVC Member Services won't talk to you, and the Member can conceivably cancel on you at the last second. That's the way it's set up.

You should get several references from the Member. Any honest person will supply these. I've rented points out and expect buyers to ask for them, and you should not be reluctant to ask. I am also an ebay seller with 600+ positive feedbacks and no negatives. This sort of "reference" is comforting to the purchaser, too.

If you pay by credit card, you will have VISA or whoever on your side in case you get ripped off. Many people who rent out points will take Paypal for that reason, to comfort the purchaser. "Merchants" do not want to get on the bad side of credit card companies.

Also call the Member on the phone. You can often tell something about a person's sincerity by hearing his/her voice.

PM me if you want more.

 

[crisi]

I've never been convinced on the references thing.

Some of the best Disers - the one's I'd trust the most - have rented points only once or twice. Someone renting casually because they can't use their own points this year won't have references - but that doesn't mean they won't be trustworthy. On the other hand, some of the people who can provide references easily boarder on what Disney considers commercial renters - if Disney makes good on their threat to cancel the reservations of those people, then the person renting points still has an unsuccessful rental.

 

[CarolMN]

.......There are many members out there who DO do contract. I think it's a waste of time, but they evidently don't....or they like the false sense of security it provides (sorta like the bag checks at the parks).

The real benefit to a written "contract" is that it helps ensure understanding on both sides of the transaction. It is necessary if the renter wants to purchase rental insurance.

I agree that it would undoubtedly cost more to enforce than it would be worth if a dispute arose.

 

[jcodespoti]

I have rented out to people on occasion. I can understand the trepidation. I personally don't know if I'd ever want to be a renter of points, hence why I bought.

The thing I try to do is, besides a contract, is always be in communication with the person I rented points to. I find it gives them some comfort level.

Trust is hard to obtain and easily broken.

Joe in CT

 

[Muushka]

I've never been convinced on the references thing.

Some of the best Disers - the one's I'd trust the most - have rented points only once or twice. Someone renting casually because they can't use their own points this year won't have references - but that doesn't mean they won't be trustworthy. On the other hand, some of the people who can provide references easily boarder on what Disney considers commercial renters - if Disney makes good on their threat to cancel the reservations of those people, then the person renting points still has an unsuccessful rental.

Yup, I agree with Crisi. And to be honest, if someone was so paranoid that they needed 10+ references (rather than the 2 that I could supply) in order to feel secure, it is a rental that I am not interested in doing.

Actually, the flavor of renting has changed since I last did it (about 4 years ago). Back then people seemed to be a little more trusting. But today with people looking up your name in the property DB to see if you actually own it and the questions that arise when they can't find it, well, it just turned me off from ever renting. Unless I was really desparate. I would rather share them with friends and family. Much nicer experience.

 

[Snoozan]

I'm a frequent renter here - I tend to use one person for renting points from so we have a very comfortable relationship - but, have used several other different DVC'ers for either myself or family/friends. I have had nothing but the most wonderful people to deal with. A couple of them did have contracts to sign, which was not a problem at all. The lady I deal with the most I don't do a contract - she sets up the ressie, mails me the confirmation letter and I send her a bank check. None of the transactions for myself or others have ever had any problems. I figure, the people who have the DVC points are probably Disney freaks like most of us, and I feel like I can trust them!

 

[Muushka]

I'm a frequent renter here - I tend to use one person for renting points from so we have a very comfortable relationship - but, have used several other different DVC'ers for either myself or family/friends. I have had nothing but the most wonderful people to deal with. A couple of them did have contracts to sign, which was not a problem at all. The lady I deal with the most I don't do a contract - she sets up the ressie, mails me the confirmation letter and I send her a bank check. None of the transactions for myself or others have ever had any problems. I figure, the people who have the DVC points are probably Disney freaks like most of us, and I feel like I can trust them!

Snoozan, IF I rented points, I would want to rent them to you!

PS Love the screen name.

 

[mtmbyck]

Ok, this thread kind of freaked me out. I just rented points this week from someone. Got a great deal. We have a contract, I sent 50% of payment already and the other 50% 60 days out. We've spoken and they sound great....I gave her 100% trust.

I can't believe there is discussion about DVC members cancelling a reservation on a renter. Is there a way for me to look up these owners and at least confirm they are owners??

FYI - I have even been given a confirmation number. Seems totally legit and I won't worry for now but.......

 

[Nik's Mom]

Should I worry if I'm interested in renting points but a Dis'r might have a low post count (maybe just a couple of posts)? Or is that really no big deal?

 

[Muushka]

Let the trust continue.........

 

[HookdonWDW]

Let the trust continue.........

... hand over some o' them munchies Muushka

 

[Muushka]

... hand over some o' them munchies Muushka

Here you go, these are better than popcorn

 

[HookdonWDW]

OMG...

stick to the fruit and cheese... stick to the fruit and cheese...

::going to find junk food::

 

[JCLNJ]

I have rented points over the years and I tell the renters if they are not comfortable then don't rent. There are plenty of people who are willing to rent that want to stay at the vacation club resorts. I made an expection to my contract last year to someone who make a reservation and had paid 50 % of the cost which was for 164 points at the time of reservation and still owed for 164 points, when they needed to cancel and did not expect a refund or anything. Since I could still could bank the points I told them if they could make a reservation this year they would not lose the 164 points they already paid for. They are going this December. You have to feel comfortable with the person you are renting from.

 

[chris1gill]

I don't do contracts, and wouldn't rent to someone who wants one. I don't need the hassle - and don't *need* to rent my points to that person, because there's always someone else waiting (and I don't advertise either).

Seriously, if you are renting points you need a simple contract, which you can send even by email for your renter to sign. There's huge liability for you as the owner should they damage the place, or accidentally have charges show up on your account (that can happen at DVC)... we own a resort condo and no way would I ever rent it without a contract, I don't need the liability, that's a risk I can't afford to make....

 

[crisi]

Should I worry if I'm interested in renting points but a Dis'r might have a low post count (maybe just a couple of posts)? Or is that really no big deal?

Both this question and the one above are addressed in the sticky in the rent trade forum.

I don't know if its a big deal or not. I know Muushka has been here forever, has a lot of posts, we've had interesting conversations over years, and I'd trust her not to back out on me if I rented points from her. If someone has 26 posts here, I don't know them from Adam - but that doesn't mean that they aren't trustworthy. It doesn't mean that they ARE either.

 

[CarolMN]

Ok, this thread kind of freaked me out. I just rented points this week from someone. Got a great deal. We have a contract, I sent 50% of payment already and the other 50% 60 days out. We've spoken and they sound great....I gave her 100% trust.

I can't believe there is discussion about DVC members cancelling a reservation on a renter. Is there a way for me to look up these owners and at least confirm they are owners??

FYI - I have even been given a confirmation number. Seems totally legit and I won't worry for now but.......

Please don't worry - you'll be fine.

I only remember one or two people in more than 10 years of reading the DIS boards who were defrauded and one of them will admit she didn't do due diligence and wired money to Western Union against her better judgement.

There have been hundreads (if not thousands) of rental transactions and if it were common for renters to have problems, we would hear way, way more about it than we have. Really, there are more owners who have problems with renters, than there are renters who have problems with owners.

Sounds like you did your homework. You'll be fine.

 

[Nik's Mom]

Both this question and the one above are addressed in the sticky in the rent trade forum.

I don't know if its a big deal or not. I know Muushka has been here forever, has a lot of posts, we've had interesting conversations over years, and I'd trust her not to back out on me if I rented points from her. If someone has 26 posts here, I don't know them from Adam - but that doesn't mean that they aren't trustworthy. It doesn't mean that they ARE either.

Thanks for the response. I'm definitely interested in renting points now and will start checking out the rent trade forum.

 

[Nik's Mom]

O.k. In case I'm not the only one that didn't see these threads, newbies to dvc like me should read these.
http://www.disboards.com/showthread.php?t=1442533

http://www.disboards.com/showthread.php?t=1255828