Read the stickies at top of Rent/Trade board; lots of helpful info.
Yes, you as the owner of the points must make the reservation and you handle anything and everything that pertains to that reservation until the person you have rented it to checks in ( so you'd have to arrange Magical Express, Dining Plan, noting requests on the reservation etc if requested by your renter ). Never have rented out our points but it seems that the majority of those who post here recommend drawing up a contract (can be as simple or detailed as you like) and also most use a no refund policy (this is especially important if your points will expire soon because if your renter cancels it will most likely be difficult for you to find another person to rent to at the last minute so you'd probably wouldn't want to be in a situation where you're then stuck with the points and having to give your original renter a refund).
If the reservation a prosepective renter wants requires more points than your * you would have to be willing to borrow points from your upcoming Use Year (if you have points available in your upcoming UY) or if you still have your one transfer per year option available to you what you can do is find another
DVC member to transfer the additional points to your account and then use those points along with your * pts to make the reservation (jmho I think this is complicating things & I wouldn't give up my one transfer a year option to get additional points for a renter so I'd just make it clear to the prospective renter that you can only make a reservation that requires * pts or less).
Also, if your points haven't been banked or borrowed (points would need to be from current Use Year) you can perhaps transfer them to another DVC member who may be in need of additional points for a trip they are planning; that may be easiest route for you to take.
