Help me! Newbie

[Jessicap]

Hi, I dont want to sound stupid, but here goes. I am a newbie to the renting of DVC members points. Here is my question..

How do I know that I will get my vacation.. (WORRY WORT) If I pay 10 or 11 per a point and put 50% down, get my confirmation, pay the other money 31 days out, HOW DO I KNOW THE THE DVC MEMBER WONT CANCEL MY VACATION AND RUN AWAY WITH MY MONEY?

What steps can I take to protect my investment. I know the member can cancel anytime and the points go into a hold.

Is there any third party escrow holder people that will hold the money until you arrive and sign in at the resort?

What can be done. I think its an awesome thing to do, but I want to make sure we dont get the shaft(since we are new to this)


Also, Who are some reputable members who rent points?


Thanks

 

[Jessicap]

Can or does members set up point rentals on ebay? I am just trying to understand how this works. We have three families going and want to make sure each family is informed.

Thank you all for the help!

 

[wtpclc]

First of all, while that is a legitimate risk, there are risks on th owner's side too. If you cancel too late, those points go into a holding account tha tis restricted. There have aksi been incidents lately where unpaid guest charges have put member accounts on hold.

It is very rare/unheard of that someone who rented from a member here had their reservation canceled on them. It is recommended that you use a contract. There is a thread on good items to include in these contracts fro both sides that was just recently started. You may want to check that out.

You can look up history of posts and ask the member for refernces, but the boards cannot provide any type of feedback system here.

It's a system that has worked well for many people and hopefully you can find someone that you feel comfortable with. Good luck!

 

[wtpclc]

Members can set up rentsl on e-bay, but I believe that is somewhat costly. We just set up through the Rent/Trade board right here. Have you read the FAQs and word to the wise there?

 

[Happy Birthday Cat]

How do I know that I will get my vacation.. (WORRY WORT) If I pay 10 or 11 per a point and put 50% down, get my confirmation, pay the other money 31 days out, HOW DO I KNOW THE THE DVC MEMBER WONT CANCEL MY VACATION AND RUN AWAY WITH MY MONEY?

You don't really know for sure unless you rent from someone who is reputable (and I've only heard of a couple instances of problems). Talk to the person you rent from on the phone and get a signed agreement that states what is expected from you and the owner of the points. Get their name, address, home number, cell number and discuss things with them. Chances are if they talk to you freely and post on the Dis-Boards, you won't have a problem. If you do, you know how to reach them.

Also, Who are some reputable members who rent points?

Do a search for and read a person's past posts to get a feel for him/her. This will tell you if they really know DVC or not and if they've rented before or not. Number of posts are important but so is how long someone has been associated with these boards.

Good luck.

HBC

 

[littlestar]

Look for somebody on the DIS that has a lot of posts and read through some of their past posts. I've rented points numerous times (or had them transferred into our DVC account) and NEVER had a problem renting from people on the DIS that have been on the boards for a while (50 or more posts).

Just remember, you're not the only one that takes a risk by renting points. The member has just as much risk as you do and maybe MORE. If you or your family damages the unit, the member is responsible. If you have unpaid credit card charges while staying at the resort, the member may be responsible for that too. Personally, I'd be too scared to rent my points out to anybody. I'm even a little nervous when I treat my relatives. There is trust required on both sides. If you don't feel you can trust the person you're renting from and likewise them trust you with their valuable DVC points, then you might be better off to just book cash through Disney. It wouldn't be worth getting an ulcer if you worry the whole time

DVC members have strict cancellation rules. If you cancel 31 days or less on a reservation, the member's points go into a holding account. If you cancel the day of arrival, the points are lost. Members have to be very careful about renting out their points in my honest opinion and make sure the nonmember understands the rules. Even if you cancel a reservation a few months ahead of time, the member may not be able to use the points if it's close to the end of his use year (members have strict banking rules).

Good luck.

 

[byoung]

We rented 5 times with no problems at all.
We rented with Bill Randle [mailto:disneyvacation@sbcglobal.net] he also can be found on ebay. Warning you might become a DVC member though, like we did.