How to pay for rented points?

[disneyfan77]

I have heard many suggestions but I wanted to know how must "DVC renters" pay for their rented points. I have heard of down payments upon agreement w/balance x amount of time prior to the reservation, escrow accounts, full payment upon agreement, etc. What is the norm if there is one?

 

[CarolMN]

Originally posted by disneyfan77
I have heard many suggestions but I wanted to know how must "DVC renters" pay for their rented points. I have heard of down payments upon agreement w/balance x amount of time prior to the reservation, escrow accounts, full payment upon agreement, etc. What is the norm if there is one?

I don't think there is a "norm". Terms of payment are entirely negotiable between owner and renter. There are many variations. If you are the renter, you'll need to find an owner with terms that are acceptable to you.


Best wishes -

 

[Muushka]

I don't know what the 'norm' is, but I have always (all 3 times!) accepted a personal check. I believe that there is a good amount of trust that the renter has to have in order to do this transaction. So I figure that I will trust them to give me a check that will not bounce. I think that they appreciated the trust that I had in them.

 

[mickeyc]

When I rent points I use a simple lease agreement requiring half the payment when the lease is signed. The remainder is due when I mail them the confirmation letter.

This process has worked well for both me and the renter. They have the confirmation letter and I have the rent. I also require that the check be certified.

So far this has worked fine and I did not receive any complaints. We have to keep in mind we are not travel agents.

Good luck with your rentals.

 

[new_yawka]

I have rented once. I accepted personal checks. 2/3rds within 10 days of making reservation and 1/3 60 days before travel (there was about 6 months in between - I though it unreasonable to ask for everything up fron).

 

[Kelly&John]

The few times I have rented, I have asked for approximately a 25% deposit. The balance is due 45 days prior to arrival. I also require a certified check or money order for the final payment.

Kelly