How do you safely rent points?

[harrisclgjdisney]

Help!!!!

I need to rent some points I can't use. I've found a buyer and have agreed to transfer points to them via an email to Member Services, but how do you transfer the money in a way to protect both buyer and seller?

Escrow Agent?

Does anyone know a reliable escrow agent that is familar with transactions like this?

Thanks---first time renter

Carl

 

[zurgswife]

Transfering is a little tricky compared to just making the ressie...I would still use a contract....and agree that payment needs to clear before you transfer the points....My feeling after being on both sides of the renting equation that it is always a leap of faith for one of the parties.....Good Luck....

 

[Disbug]

You mainly need to have references and a "Feel" about the person or transaction... As zurgswife said, it is a "leap of faith". Since I have always been on the renting end, I felt it was more faith on my part, since I am sending money. If the renter did not send money, the reservation could always be cancelled. I don't know if you have a grace period before your points go into "holding", etc...

I would say the DVC owner makes the reservation in the renter's name and confirms this to the renter. The renter sends in a deposit (usually 1/2 of amount due). Then the remainder is due no later than 30 days before the reservation date. The renter receives the actual paperwork from DVC showing their reservation dates and name.

 

[2thdr]

Disbug wrote:


"I would say the DVC owner makes the reservation in the renter's name and confirms this to the renter. The renter sends in a deposit (usually 1/2 of amount due). Then the remainder is due no later than 30 days before the reservation date. The renter receives the actual paperwork from DVC showing their reservation dates and name."


This works great, unless the cancellation goes past the 100% banking date, leaving the owner scrambling to re-rent the points or risk losing them. There are risks to being the owner, as well as to being the renter. A good contract may help, but pursuing a breach of contract can cost money. I don't have a good suggestion for Carl, except maybe Paypal?

 

[RobDoc]

While "renting" point transfers is a common occurence, please keep in mind that, technically, members are not to receive any remuneration for point transfers to other members. DVC will certainly provide no assistance in settling any dispute.

As with any rental transaction, make sure you are comfortable with the situation as once transferred, the points cannot be returned and control of those points is fully controlled by the account where they were moved. Trust is of extreme importance.

Good Luck!

 

[Cruelladeville]

When I transfer points to a buyer, I make sure that the money has first been sent to me thru PayPal--that takes about 15 minutes or so. PayPal then has a record of the transaction in case there is a problem. As soon as the money is in PayPal, I call MS and transfer the points to the member's account. I have never had a problem--I have even done a conference call with MS and the member to transfer a large number of points. In that case, we did the transfer in small amounts, with his sending the money first to be sure that we were both honest.

 

[icydog]

I use paypal for ebay to pay for auctions. How do I use it to have money transferred in? You say they, Paypal, has a record of the transaction but is this enough insurance to believe the other member will keep up his end of the agreement?