How does the renting points work?

[Kurby]

I put a post up in the "renting" section twice but it doesn't like me and won't post my post

so i'll ask here.

we are just about ready to purchase AKL but won't be using the points this year. how does renting them out work?

and in 2010 when we want to take my parents on a cruise to celebrate their 50th we won't have enough even saving 2009 using 2010 and borrowing 2011 we'd still be short something like 57 points and would need to rent

can you only rent to people how are DVC members?

how do you know how much to rent them for?

if you rent your points and the "guests" trash the place does it reflect on you?

how do you get paid for the points you rent out?

what if the rentee wants to cancel their trip - do i give them their money back and try to rent them again?

can you rent someones points at boardwalk to merge with your akl or do you have to rent from someone who has akl?

if we purchased points online - say 50 does it have to be our home resort?

thanks for answering these.

 

[Wendy1953]

I put a post up in the "renting" section twice but it doesn't like me and won't post my post

so i'll ask here.

we are just about ready to purchase AKL but won't be using the points this year. how does renting them out work? You need to post your information on the rent/buy boards...giving all the information ...how many points are you going to provide for rent, the price (check out the current prices on the rent board), provide the renter with a contract....lots involved.

and in 2010 when we want to take my parents on a cruise to celebrate their 50th we won't have enough even saving 2009 using 2010 and borrowing 2011 we'd still be short something like 57 points and would need to rent Most of the time you can also pay out of pocket for some of the trip...ask your guide when you purchase AKV, they'll be able to provide you with the most current information.

can you only rent to people how are DVC members?
You can rent to anyone you want to, they do not have to be DVC members at all.

how do you know how much to rent them for?
Look for the going rates on the rent boards.

if you rent your points and the "guests" trash the place does it reflect on you?
If they trash the place, you get the bill, so make sure you have something in your contract that makes them liable for this type of situation.

how do you get paid for the points you rent out?
that's up to you....best bet is to open a PayPal account

what if the rentee wants to cancel their trip - do i give them their money back and try to rent them again?
Again, you need to decide how you want to handle this, and have all the information in your contract.

can you rent someones points at boardwalk to merge with your akl or do you have to rent from someone who has akl?
You can rent someones points for any hotel, and they will have to make the reservations for you....you get to choose which DVC resort you want to stay at, if it's your home resort...you can use your 11 month window to make the reservation, but if there points are from a different DVC resort..they can only make the reservation for you at the 7 month window, and you may not get your first choice of resort.

if we purchased points online - say 50 does it have to be our home resort?
Are you talking buying or renting? In either case, you can buy or rent from any resort, but keep in mind the use year and the 11 / 7 month window for making reservations.

thanks for answering these.

Hope this helps you somewhat.

 

[chalee94]

>>we are just about ready to purchase AKL but won't be using the points this year. how does renting them out work?

have you read the FAQ?

>>can you only rent to people how are DVC members?

nope, but it's probably easier.

>>how do you know how much to rent them for?

look at what others are getting = market value ($10-12 unless they are about to expire, then $7-8)

>>if you rent your points and the "guests" trash the place does it reflect on you?

yep.

>>how do you get paid for the points you rent out?

paypal. check, personal or official.

>>what if the rentee wants to cancel their trip - do i give them their money back and try to rent them again?

depends on whether you planned ahead and agreed to a contract. if they cancel the trip inside of a month, you might lose your points...so plan ahead (and read the FAQ.)

>>can you rent someones points at boardwalk to merge with your akl or do you have to rent from someone who has akl?

as long as you are inside 7 months, it doesn't matter. otherwise, you need (V)AKL.

>>if we purchased points online - say 50 does it have to be our home resort?

see above.

 

[Deb & Bill]

Do a search on renting points and find out all the risks involved. Lots of owners don't allow cancellation - or if the non-member cancels they are out of luck - no refund, no changes.

If you are going to rent out points that you don't even own yet, why don't you just bank them and use them for next year? Or postpone your purchase until next year?