HELP US renting out points have questions

[luv2vacation]

We are thinking about renting our points. Anyone done this before give us some advice. Is there a contract to be signed? What about payment? What if the renters cancel? Making the reservation? any thing you think we should know about this.. Please give us your ideas. Thanks alot

 

[jcodespoti]

luv2vacation,

1)Yes you could write up a contract w/ the other party, thats up to you.
2)Payment can also be decided by both of you (I make the reservation call or e-mail the confirmation #) and ask for 1/2 payment. Then within 45 days of their arrival I ask for final payment). You might want to make to say that you will not refund the money if they cancel the trip. Thats up to you.
3)Call MS and make the reservation in their name, the confirmation will still come to you, so you will have to send it to them.
4)I have mostly rented to friends but have rented out to others as well. This is what works for me, others might have other suggestions.

Joe in CT

 

[luv2vacation]

Thanks Joe for the info.