How low would you go?

[cccory]

Was wondering how low you would rent your DCV points for? I had a reservation that we couldn't use, so I decided to rent it. It was during the Christmas period. I ask because I had someone offer me a dollar amount that came out being UNDER $5 dollars a point. I just couldn't do it. I would have rather the reservation go unused than lower the points to that dollar amount. Was just wondering if I was crazy or if others feel the same?

 

[DebbieB]

Was wondering how low you would rent your DCV points for? I had a reservation that we couldn't use, so I decided to rent it. It was during the Christmas period. I ask because I had someone offer me a dollar amount that came out being UNDER $5 dollars a point. I just couldn't do it. I would have rather the reservation go unused than lower the points to that dollar amount. Was just wondering if I was crazy or if others feel the same?

I would at least get your dues money back. That is what the DVC cancellation insurance would pay.

 

[jekjones1558]

Was wondering how low you would rent your DCV points for? I had a reservation that we couldn't use, so I decided to rent it. It was during the Christmas period. I ask because I had someone offer me a dollar amount that came out being UNDER $5 dollars a point. I just couldn't do it. I would have rather the reservation go unused than lower the points to that dollar amount. Was just wondering if I was crazy or if others feel the same?

I hear you. It would strike me as greedy that someone would take advantage of your bad luck by offering such a lowball amount. If having holding points were an option, I would have gone that route instead.

 

[bookwormde]

It is a market, and you had a distressed product that you would like to sell within a very limited time frame.

It is best to keep judgment of the renter and emotion out of it as far as the $ go. Sounds like in the end you gave up recoverable $.

I would have counter offered.

 

[Dean]

Was wondering how low you would rent your DCV points for? I had a reservation that we couldn't use, so I decided to rent it. It was during the Christmas period. I ask because I had someone offer me a dollar amount that came out being UNDER $5 dollars a point. I just couldn't do it. I would have rather the reservation go unused than lower the points to that dollar amount. Was just wondering if I was crazy or if others feel the same?

There are bottom feeders out there but there's no reason to be upset, just say no thank you the same as if it were a purchase situation. I'm with you, I'd have let it go to waste rather than give it away. When I offer rentals, I don't negotiate unless there's some special factor but would never go this low.

 

[browniemtb]

If they are distressed points that you may lose then it is an option. If the reservation can be cancelled and the points can go into holding that could free up some time to rent the points but they would still be distressed. Now the big question how low would you go.....I don't like seeing the $10PP for regular point. If we rent it's at $12+ but in your case I would consider $8 or $9 a point. $5 and under, not worth it at that point.

 

[Nabas]

How low depends on the status of the points.

Unless someone is desperate for immediate cash, it seems $11/point would be the bottom for non-distressed points since this is what the major DVC renters offer to owners. If the points were bankable, I'd that that would be the bottom.

Conversely, at the other end of the spectrum, if there are only a couple of weeks left and it's a matter of "use it or lose it", wouldn't renting out the points at almost any price be preferential?

Realistically, how many buyers can drop what they are doing and arrange a WDW vacation in a week? The cost of last-minute flights alone would turn off many who are not within driving distance.

There's a reason cruise lines offer some incredible last-minute deals.

Personally, if I had points that were about to expire (i.e. that could not go into holding or be banked), I'd be happy if someone would just cover the cost of my Maintenance Fee but I'd be willing to settle for less just to minimize my loss. $4/point is better than $0/point. I'm the one who was unable to manage my points successfully. Whether I failed to bank them or had to cancel a last-minute trip, it's not the buyer's fault.

For points in holding status that still had some time before they expired, I'd look to cover the cost of Maintenance Fee so maybe around $6/point.

Depending on my status, I'd start by asking higher ($7 or $8 per point seems to sell for distressed points on some websites) but I'd settle for covering my Maintenance Fee.

 

[MoreTravels]

Some banks will buy a mortgage house in distress for half the value. It's strictly business. So there is no need to be upset. If you see an oversupply of obsoleting products going for clearance sale, you might be tempted too.

 

[wiigirl]

I would at least get your dues money back. That is what the DVC cancellation insurance would pay.

 

[twinsouvenirs]

I wouldn't rent for less than the MFs.... contact one of the brokers like Davids who will at least ask for $9-11/pt. Not sure what your cut would be but it would probably be more than otherwise proposed!

 

[Bciris]

You could also bring some family a lifetime of memories and happiness during the Christmas season. I know several friends and family that would love to stay on site at Disney with something as nice as a DVC unit but are already stretching the budget just to get park tickets.

 

[Minniesgal]

I wouldn't rent for less than the MFs.... contact one of the brokers like Davids who will at least ask for $9-11/pt. Not sure what your cut would be but it would probably be more than otherwise proposed!

David's wouldn't ask for that on distressed points in fact it is difficult to get David's to rent distressed points

 

[Nabas]

David's wouldn't ask for that on distressed points in fact it is difficult to get David's to rent distressed points

Exactly.

Quoting from David's webpage for renting "Last Minute Specials":

"If you have points that will expire in the next 3 months, you may want to consider this service. Lately, many DVC resorts are selling out throughout the year at the 5 to 9 month mark. I have thousands of guests who are sometimes able to take a last minute vacation based on the dates that I set (based on resorts/rooms available). I advertise these points at your agreed price + $4.00."

They then list what they think the chances are of renting these points:

$10/point - "Poor - newsletter subscribers are bargain hunters"

$9/point - "Better - some points may be left over"

$8/point - "Great - points are usually gone in a few days"

$7/point - "Excellent - points are usually gone within hours."

Subtract off David's $4/point fee and you're not left with much.

David's has immediate access to thousands of potential DVC renters. You are paying David's to find you a last-minute buyer and assume the risks of that buyer.

If you try to rent these points on your own, you'll need to get a little bit lucky finding a buyer on short notice and then hope the buyer doesn't back out.

As others have suggested, renting your points should be an unemotional business decision. You've got a product with limited shelf life that you are trying to sell.

If you reach this point, you're doing pretty well if you are able to simply cover your Maintenance Fee. Certainly try for more but don't be surprised if you have to settle for less.