how easy to rent out points?

[Deb & Bill]

Your friends would probably feel more comfoertable dealing with you. Have your friends pay for the points up front to you, then get the points transferred into your account. You will only be out a little time and if they back out oh well. They have paid for it up front, and make the stipulaion of no refund. If they cancel all you can then do is try to rebook.

But since the OP isn't the owner of the DVC account, her parents might have to coordinate the transfer.

 

[RobDoc]

My parents have been DVC members for about 15 years. They used it heavily the first 10 years and then their health started to decline and they basically have 'given' it to my husband, myself, and our 5 year old. They have no interest in using it again. We have been paying the annual assessment for a couple of years but they don't want to transfer it to our name. Everytime I want to make a reservation, I call member services, say I am my mother, give them the last four digits of her ssn and request what we need.....I feel a bit sneeky doing it this way. This is a bit off topic, but what is involved in transfering membership?

So, back to the topic. We are planning 8 nights at VWL for spring break. We have friends that are interested in coming along. We have no points available for them as my sister is using the points that are available to borrow. I am looking into renting some points for our friends. I see some people say rent or transfer. What is the difference? Would we be better off having points transfered into my parents account and going about it that way, or should our friends make a seperate rental transaction? Thanks for sticking with me in regards to my rambling question.

If your parents have some hesitation about transferring ownership to you, you might at least suggest that you be added as an associate member. As an associate you would be able to make reservations (as yourself) but would not be on the deed and with no financial responsibility. You would then have control over any transactions with that account (making, cancelling reservations, banking/borrowing points).

Transferring ownership will not be a big obstacle. The transfer will need to pass ROFR, but will not be a problem. Once the deed has been transferred and you are in the system, you will have full comtrol of the contract - including responsibility for the annual dues.

Enjoy!

 

[lochinus]

What are the horror stories about?
I'm so curious!

 

[helloconnie]

My parents have been DVC members for about 15 years. They used it heavily the first 10 years and then their health started to decline and they basically have 'given' it to my husband, myself, and our 5 year old. They have no interest in using it again. We have been paying the annual assessment for a couple of years but they don't want to transfer it to our name. Everytime I want to make a reservation, I call member services, say I am my mother, give them the last four digits of her ssn and request what we need.....I feel a bit sneeky doing it this way. This is a bit off topic, but what is involved in transfering membership?

So, back to the topic. We are planning 8 nights at VWL for spring break. We have friends that are interested in coming along. We have no points available for them as my sister is using the points that are available to borrow. I am looking into renting some points for our friends. I see some people say rent or transfer. What is the difference? Would we be better off having points transfered into my parents account and going about it that way, or should our friends make a seperate rental transaction? Thanks for sticking with me in regards to my rambling question.

Renting is when you pay a DVC member a set price to use X number of points for a trip to WDW. Example, you need 125 points, you agree to pay them $10.00 per point. They make the reservation for you in your name. They are the only ones who can talk to Member Services about the ressie.

Transfer is when one member transfers points from their account to another DVC members account so that they can use all points for one ressie. Also involves a negoiated price per point.

Most people do not like the transfer option because you can only transfer once per year.

Hope this helps!

BTW...I just bought into DVC with a large contract. I got 2009 points which I could not use. I posted them for rent and have two contracts with no issues so far. Both renters made their down payments and agreed to my terms and signed my contract.

 

[Sammie]

What are the horror stories about?
I'm so curious!

Well some renters think they are dealing with Disney when they rent and for a bargain they want everything Disney would provide them.

The scariest to me is damage to the unit and the member held responsible or credit card problems with room charges and again the member is held responsible.

While most rentals transpire without problems, I don't think it is fair to anyone not to discuss the cons along with the pros.

 

[Deb & Bill]

Well some renters think they are dealing with Disney when they rent and for a bargain they want everything Disney would provide them.

The scariest to me is damage to the unit and the member held responsible or credit card problems with room charges and again the member is held responsible.

While most rentals transpire without problems, I don't think it is fair to anyone not to discuss the cons along with the pros.

And then there are the renters who decided they wanted an upgrade and received it, using the member's points. So the member was out the extra points the non-member used for the upgrade.

 

[schatterjee]

While there is some effort on your part to rent we've rented our points several times and always had a great experience. The renters have been terrific and almost always e-mail when planning their next trip. Use a contract (I'd be glad to e-mail you mine as a starting point) and know that there are a few shoppers out there or folks who aren't 100% on their plans yet. But we've met some great people.

Good luck!

 

[Ctsplaysinrain]

I'm a new owner-June 2008. I just purchased a resale that had some 2008 points banked that into 2009 that if I am understanding correctly cannot be banked again and I cannot transfer. So, since I live on West Coast and these expire end of Apr. I will more than likely have to rent or lose them... Anyone have a contract example that I can see/use? or it there a site for contracts?

 

[funatdisney]

I would also try to rent your points or post a thread to do so just after your use year month. That way you have more wiggle room (time wise) to find a good renter. If you are near your banking month you may find yourself wondering if you should bank or hold out for a renter.

 

[Deb & Bill]

I would also try to rent your points or post a thread to do so just after your use year month. That way you have more wiggle room (time wise) to find a good renter. If you are near your banking month you may find yourself wondering if you should bank or hold out for a renter.

Can't bank points for a second time. They can only be banked once. So the PP must use those points by the end of the UY or lose them.

 

[funatdisney]

Yes. I guess I didn't explain it in the best way. If you have a use year of June, I would start looking for renters in June/July for that use year. I don't have to bank my points for that UY until January 31. That gives one a little breathing room before a decision has to be made by the Member to bank unrented points or to try to rent them before the end of that UY. In this case, May 31. I am keeping in mind of renting points within the same UY that they were issued. Of course, you can always bank your unrented points into the next year. And rent them out for the following year.

 

[TCPluto]

And then there are the renters who decided they wanted an upgrade and received it, using the member's points. So the member was out the extra points the non-member used for the upgrade.

I don't believe this for a minute......

 

[tigger51276]

My parents have been DVC members for about 15 years. They used it heavily the first 10 years and then their health started to decline and they basically have 'given' it to my husband, myself, and our 5 year old. They have no interest in using it again. We have been paying the annual assessment for a couple of years but they don't want to transfer it to our name. Everytime I want to make a reservation, I call member services, say I am my mother, give them the last four digits of her ssn and request what we need.....I feel a bit sneeky doing it this way. This is a bit off topic, but what is involved in transfering membership?

So, back to the topic. We are planning 8 nights at VWL for spring break. We have friends that are interested in coming along. We have no points available for them as my sister is using the points that are available to borrow. I am looking into renting some points for our friends. I see some people say rent or transfer. What is the difference? Would we be better off having points transfered into my parents account and going about it that way, or should our friends make a seperate rental transaction? Thanks for sticking with me in regards to my rambling question.

As to having the deed transferred, it costs somewhere around $400 or 500 as it requires the deed to be "redone". If your parents don't want to do that, then they could just add you as an associate and that would at least give you the opportunity to use your own information when making reservations and inquiries.
As for renting points or transferring, I would say that a transfer is more secure as you are then in control of the reservation instead of someone else. A points transfer is actually pretty easy to do. Just go to the rent board and find someone who is willing to do a points transfer and a normal agreement is 50% before the transfer is made and then 50% after it's complete (the actual transfer takes maybe 10 minutes on the phone with member services). Keep in mind that you can only have one transfer per account per year so find one person who has enough points available for your use.
Hope this helps...if you have any questions, let me know and I'll be happy to help if I can.

 

[tigger51276]

To the OP, renting points can at times be really easy and at other times a bit harder. I have rented several times for myself and for my friends. I have also rented points when I've fallen short. As money was tight this year my husband told me that if I wanted to go to Disney then I'd have to come up with the money some how....boy do I like a challenge . I went to the disboards a couple months ago and rented out 300 points in just one week and that gave me the money I needed to pay for my park passes, food and spending (plus plenty of $$ left over for savings). Now I will admit that I was on the phone a great deal with member services over that week, but I'd try to limit my calls to 3 a day. I did do a lot of emailing with some people who didn't end up renting from me and I did a lot of emailing with people who did rent. Either way I didn't care, it gave me the opportunity to talk Disney with people which just got me excited for my upcoming trip. Not to the mention I just LOVE to help people plan their own trip and give any tips I can. Now again it isn't always easy to rent them out so make sure you give yourself plenty of time to do so. Right now there are lots of people with points to rent and so it's a bit competitive over on that board, however there are people who will rent from those asking for more $$ if they feel that you are more "trustworthy" than someone else who is looking for less.

 

[tecodis]

All of these issues can be circumvented very easily. You set the terms as the owner. The more work you want to do is up to the owner. It does not have to be this difficult, and frankly, this is a scare tactic.

Agreed! I rented my confirmed reservation a few months back. The process did drag on for awhile. I seemed to have a fair number of people interested but everyone wanted to haggle price (of course). It took a fair amount of back-and-forth, no responses effort with multiple people at a time. Finally, one person accepted (after I reduced my price multiple times).

The buyer wanted to kind of control the terms of the sale but as the owner, I was bearing almost all of the risk so the contract was on my terms. I just laid it on the line that I had no interest in agreeing to their desire of "being able to use the points later if they couldn't make the trip" for any reason. He did his homework and knew when my use year expired from the county public records. I had no problems with payment or such so it worked out fine and they had a great time. Not sure I would want to go through the effort again though.

 

[kimberh]

And then there are the renters who decided they wanted an upgrade and received it, using the member's points. So the member was out the extra points the non-member used for the upgrade.

When did this happen? I tried to upgrade once, and the front desk would not even talk to me, I was the owner and they had the availability. I asked. Everything had to go through Member Services. We had never seen a One Bedroom, saw one and wanted to see if one was available, it was, then not to us because we were on a point stay.

 

[MollyMcDaniel]

Thanks for all of the advice and info....the disboards are great. I'm sure my parents would transfer the whole thing over to me, but I do have siblings and people sure get bent out of shape easily if it isn't equal on all fronts....know what I mean? My mom is going to put me on as an associate.

I think since I do have access to DVC, a transfer would allow a little more control on my end. I understand you can only do it 1x a year. No problem. Thanks again!