How do you rent your points???

[TwingleMum]

We're looking into buying DVC and one thing you always hear is that you could rent your points if you don't need them. Can I ask a dumb question just how would this work?? I know theres the other bb where you could post but HOW?? Does the person send you a check? When? what if they cancel? I know you call and make ressies in their name but how can you protect yourself from getting burnt? Thanks. I'm not buying to make money but its nice to know certain options exsist.

 

[JLS]

There is a link to DVC Rent/Trade FAQ on the other board that explain the process.

First, figure out how many points you want to rent out. Then just post on the board "Have ____ # of points to rent at ____(home resort) _______" Explain in the body of your post what price you are looking for (most charge $10 per point, sometimes more or less). Explain that you can make reservations up to 11 months out at your home resort, and if people want reservations at any other DVC resort for 7 months in advance or less, you can do that too. Then you see who responds. You should also check the "points wanted" posts to see if there are potential renters there. Then you just correspond with the person who wants to rent your points (usually by email) and find out their dates and the size of unit and resort they want. Then you call DVC member services and make a reservation for them using your points (if there is availability). rent, as someone might have the points you need.

Once you get a reservation confirmation, ask the renter to send you a deposit (usually $100) and then upon receipt, you send them the confirmation. Agree in advance as to the date that you expect final payment in full. Make sure that you set that date far enough out so that you can still cancel the reservation if the person flakes on you.

The most important thing in a rental process is that both parties agree IN ADVANCE as to all of the terms (price, deposit amount, due date of balance, and any other terms). Good luck.

 

[Cruelladeville]

I rent my points out every other year, and it's very easy, and very hard. The easy part is posting on the Rent/trade board that you have points to rent--just follow how everyone else on the board is doing it. Then wait for people to contact you--now comes the hard part. First, let me say that you can't get burnt because you ALWAYS retain control of the points, unless you do something stupid, like renting less than 31 days out. I did that, and borrowed points so they could have their ressie, and they cancelled, leaving me with 32 points in holding that I couldn't use. Also, you need to realize that many people are just nosey--they email you "I would like a studio May 1-3 at BWV". ALL OF US WANT A STUDIO ON MAY 1-3 but that doesn't mean they want you to BOOK it if it's available!! The first thing you do is email them to ask for acceptance of your terms. You won't hear back from most of the nosey ones, usually. Slowly, you will rent out your points--it took about a week for me to rent 300 pts. If you set up an account thru PayPal, your renters can send you money by using their credit card, and they take out about $2.50 per $100, but they will wire it to your bank when you tell PayPal to do so. I think it's a neat way to do business, and I am not even good with computers.

 

[TwingleMum]

Thanks for the insight. I don't think I'd rent but its good to know how it works.