How does renting out DVC points work? HELP PLEASE!!

[wdwgoofydaddy]

Hello all,

We purchased our first DVC at Animal Kingdom Village in 2012 and have been really happy with everything. We've used our point at a number of Disney properties, Boardwalk Villas, Animal Kingdom and several times at bay Lake Tower. Needless to say, we have always used all our points thus far. Last week we just purchased over 100 points at the Grand Floridian. We now have both Animal Kingdom and the Grand Floridian as home resorts with varying point allotments. We now have just way too many point that we can possibility use in 2014/2015.

Never have rented out my points before and really don't want to go through a broker, so I'm looking for help. Can anyone provide me with a link or point me to a resource where I can research the process and logistics?

I think we have over 200 point to rent out.

Any help you can provide would be of great value.

Thanks in advance

 

[nalajms]

Look through the rent/trade board. That will give you an idea what's renting and how much.

 

[tjkraz]

One problem you face is that you've never rented before. Rentals are essentially "handshake" agreements between two strangers. Even if there's a written contract, the cost to enforce could easily be greater than the potential recovery.

You've never gone through the rental process before. You have no references to prove that you are a fine upstanding renter. Yet you will be asking someone to send you $2000-2500 for your good faith promise to secure a hotel reservation in their name.

Please don't think I'm trying to call-into-question your honesty. Just realize these are all things your potential rentee (?) will take into consideration before giving you any money. Even if you're a saint, how do you convince someone that their reservation won't disappear immediately after they give you $2K?

Easiest thing to do is ask if any family / coworkers / friends / friend-of-a-friend are interested. Trust is easier when the parties know each other.

You could also consider a TRANSFER of points rather than a rental. You would need to find another DVC member who needs the points...which limits the market to some degree...and you can only do one transfer per year. But trust is easier because the points are immediately moved from one owner to the other with no ambiguities.

Good luck.

 

[Minniesgal]

I rented points for the first time last year through .davids. It worked great.

 

[chalee94]

if you don't know what you are doing, i would recommend working with an established broker...

 

[Lorilais_mommie]

I rented points for the first time last year through .davids. It worked great.

I 2nd this!
We are 1st time owners.. Bought into VGF ..
We are working I a resale AKL as well..
The only problem is the resale came with LOTS of a extra points that need to be used, before we can use them..

We have looked extensively at renting and at David's...
What we have found is...

There has never been a case "reported to dis" of a renter trashing the room..
David is very trusted, and good at what he does...

Being a newbie we plan too use him, if the resale goes through..

 

[Minniesgal]

I 2nd this! We are 1st time owners.. Bought into VGF .. We are working I a resale AKL as well.. The only problem is the resale came with LOTS of a extra points that need to be used, before we can use them.. We have looked extensively at renting and at David's... What we have found is... There has never been a case "reported to dis" of a renter trashing the room.. David is very trusted, and good at what he does... Being a newbie we plan too use him, if the resale goes through..

The only downsides withDavids is he won't rent distressed points so you need a decent amount of time left on the points to use him.

 

[robhawk]

David's is the way to go for sure!

 

[wdwgoofydaddy]

Thanks a bunch all. You make a very good point Tim with respect to trust. I there has already been a lot of interest my my friends and peers at the office. Most people that know me, know that I'm a big Disney fan so they tend to come to me for trip planning advice.

I think I'm going to rent out to a work peer and also transfer some point to another DVC member in the office too. it turns out that I actually have over 500 points.

Thank you all once again.

 

[crisi]

Just make sure its a work peer you can trust. A friend or colleague that doesn't pay you is a recipe for losing more than just your money. Those sorts of rentals can certainly be the best kind, though.

 

[wdwgoofydaddy]

Just make sure its a work peer you can trust. A friend or colleague that doesn't pay you is a recipe for losing more than just your money. Those sorts of rentals can certainly be the best kind, though.

Yes! You are correct there is a lot more to lose then money or point. Luckily the work peer that is interested in the points I've known for over 10 years and we have vacationed together at WDW in the past.

 

[LisaS]

Make sure your renter understands that it is very unlikely that you can make any changes to dates, resort or room type once the reservation is made. Often people not familiar with DVC assume that it's no big deal if they book with you then ask you to cancel or change the dates or upgrade or downgrade the room size or whatever. They assume you will get your points back and will refund their money.

There aren't many reports of rental deals gone wrong here on the DIS but many of those we have heard about are due to an owner renting for the first time and making rookie mistakes or an owner being too flexible, offering to reschedule and then not being able to do so.

One of the benefits of using David's service is that he sets the rules (no refunds, etc.) and you don't have to be the bad guy if your renter wants to back out.

 

[Lorilais_mommie]

The only downsides withDavids is he won't rent distressed points so you need a decent amount of time left on the points to use him.

We knew this.. If we get the contract, There's going to be 23 points that need to be used by 9/30/2014..
we will try to list here on dis.. Not a big to us of they don't rent, as we didn't consider them when making the offer..
Everything else has been banked for oct 2014..

 

[wdwgoofydaddy]

All very good points made and I'm very grateful for the help. I'm making a list of everything... Hopefully this rookie won't be one for long..

 

[antshelby]

I am new to renting/ transferring points to. I am looking to get points transferred to my account. Can anyone let me know how this works. Thanks

 

[DebbieB]

David requires a minimum rental of 95 points for owners.

http://www.dvcrequest.com/associate/

 

[wdwgoofydaddy]

I am new to renting/ transferring points to. I am looking to get points transferred to my account. Can anyone let me know how this works. Thanks

I believe points transfers can only occur between DVC owners and just requires a call from the point owners to Disney. Rented points will not appear in your account because the owner renting out the points will have to book the reservation, in you name, for you using their point which you just rented.

That is what I assume based on what I have read but please don't take my word for the truth as I'm very new at this DVC program.

 

[Minniesgal]

I believe points transfers can only occur between DVC owners and just requires a call from the point owners to Disney. Rented points will not appear in your account because the owner renting out the points will have to book the reservation, in you name, for you using their point which you just rented. That is what I assume based on what I have read but please don't take my word for the truth as I'm very new at this DVC program.

Transferred points will also not show in your online account and you will have to call to use them

 

[Pirate Granny]

We rented points before we bought. A $7K GV at OKW rental that was paid in full 11 months before the trip...nervous, you bet, but it all worked out, so well that we purchased our own OWK points. We did also rent a couple nights here and there, for one night stays, so feel free to rent out small numbers people do look for that! Trust is the key to renting.

 

[Theaberdeenkid]

Your first time renting out points, I would suggest using a broker