How does this work? Renting points?

[DisDisDisney]

My family has been a part of the Disney Vacation Club for about 15 years. Out of that 15 years I think we have only used about 6 or 7 years worth of points. My parents have ownership, however I'd like to know how renting works. I've seen some posts saying that they have 100 points for sale at 10/pt. How does the person send you the money (paypal)? Can any fradualent activity occur during this process? For instance, someone claiming that they didnt really send the money to you on paypal? Do you make the reservations for the person? If you do, what if they damage the room of one of the resorts. Would Disney hold you accountable for the damages?

Is there anything else you can tell me regarding renting out points? Is it safe?

Thanks

 

[taaren]

There's a sponsor of this site called Daddio's rentals and he's probably one of the safer ways to go from the standpoint of the renter. Basically he draws up the contract for both parties, the person renting sends their payment of $13/pt to him, and he sends $10 to you, kind of like a matching service.
His site has a primer on renting points as well as the Stickies on the DVC Rent/Trade board, but you have to have either a minimum amount of posts or purchase a Rent/Trade plan to originate a post on that board.
As for it being safe, the only way to really be safe would be to transfer the points to another member. If somebody is staying on a reservation under your membership, if they don't pay a bill they charged to the room/damage the room, you're stuck with the bill. It doesn't happen often, but it has happened occasionally. If you transfer, the points are no longer in your membership so the liability is the other member's.

 

[Sandisw]

Renting out a reservation with your points requires a lot of trust on both sides--owner and renter.

The owner remains in control of the reservation at all times and they are the only one who can contact MS about it--making or changing it, adding or removing the DDP (which now has to be paid for when it is added), setting up ME, etc.

The owner is also responsible for the actions of the guest. So, if there is damage or the renter skips out on his charges, the DVC owner's account would be frozen until they get the renter to settle up with Disney. While this is rare, it has happened and some owners were forced to pay up simply to use their membership.

However, the renter takes risk as well. The owner can cancel the reservation at any time, right up until check in. Most require that full payment, non-refundable is due well in advance so this can be tricky for renters as it requires, as I said, a lot of trust.

I think the issues of fraud are rare, but IMO, it is not for those who would worry. Personally, I could never rent my points to anyone other than family or close friends.

As mentioned, there are sites, like David's that will help you in renting out a reservation with your points, but you are still the one that will have to call, etc. Those sites just act as a "broker" of sorts bringing owners and renters together.

 

[CarolMN]

The easiest and least risky option is to transfer the points you cannot use to another member. The average price is $10/point.

You can transfer current use year points only - those that are banked or borrowed cannot be transferred.

Once you find someone who wants your points, you arrange terms (usually the receiving member pays 1/2 the fee before the transfer and 1/2 have after the transfer is confirmed) and then call Member Services..

To make the transfer,you just call Member Services. You will need the receiving member's name, & full address. Do not mention any money when doing this as some MS CMs will refuse to do a transfer under those circumstances.

Transfers are final transactions and cannot be undone. DVC will not get in the middle of any dispute - if there is one, you & the other party are on your own to solve it.

There have been many successful transfers. Once a transfer is done, it's done. You have the money and the other party has the points to do with as he or she wishes.

Do a search and you will find out lots more about transfers.

 

[CarolAnnC]

You do need to be aware that transferring points in exchange for money is against our DVC contract terms (tho many do this anyway).

 

[Deb & Bill]

And you are only allowed one transfer in or out per UY per contract. By contract, you are looking at the first five numbers preceding the decimal point, not the numbers after the decimal point. If the first five are the same, but the last ones after the decimal point are different, that's just an add-on to an existing contract, not a different contract.