How was your experience Renting Out?

[melkimmom]

What has been your experience renting out your points?
Wonderful
Good
Not so Good
Average
Bad
Never again


How many times have you rented out your points?


After making the reservation, have you have to change anything to the reservation? In how many occations?


How was Payment?

As arranged or Late. Any problems with that?


Have you have to refund the money at any time?


Have you had any bad experiences? why.



How would you rate the transaction?

A piece of cake (easy)

A Complicated business transaction, (a lot of work involved)

A diet (some work involved, but with wonderful results)

A nightmare ( Not so great experienced)



How many times have you had a great experience? (no complications)


How many times have you had an ok experience? (some complications)


How many times have you had a bad experience? (To many complications)


How many times have you had a horrible experience? (Non payment, etc.)


Thank you for your help and experiences in advance...We, the newbies could learn from your experiences. That is why we come to these boards in the first place.

 

[spiceycat]

5 times last year. Once this year.

Have trouble once - guy canceled about 40 days before the trip - re rented it almost immediately.

This is the only one I have trouble with - not the person who cancelled. but the first person who wanted the points - first they wanted me to change the reservation (no), then they wanted to pay less money - I then went to the next person on the list - there were several who wanted those points - BWV standard view Thanksgiving week.

the others were better - I asked for half the money when they received the confirmation (with their names on it) and the other half 90 days before - most people get it to me much faster. I take a personal check. So the paypal problems, credit card problems, etc - I don't have.

if the personal check was bad (so far this has not happened) - and they refused to send me a good check - then I would simply cancel the reservation. You have the control.

I had never considered renting before last year - but my brother really needed the money - and it was GREAT. Meet some wonderful people and they just loved the bargin.

Now some people did not read my ad - it say Sept/Oct only - and I had to send them to others. But that only got me one negatitive comment.

One person wanted 460 points in Jan....

I, on the whole, don't like big contracts - I like a bunch of small ones. but hey everyone is different.

You need to do what feels right for you.

If it doesn't feel right - walk away - a better offer will come around.

forgot - I generally don't rent here - I use
www.redweek.com

 

[melkimmom]

5 times last year. Once this year.

Have trouble once - guy canceled about 40 days before the trip - re rented it almost immediately.

This is the only one I have trouble with - not the person who cancelled. but the first person who wanted the points - first they wanted me to change the reservation (no), then they wanted to pay less money - I then went to the next person on the list - there were several who wanted those points - BWV standard view Thanksgiving week.

the others were better - I asked for half the money when they received the confirmation (with their names on it) and the other half 90 days before - most people get it to me much faster. I take a personal check. So the paypal problems, credit card problems, etc - I don't have.

if the personal check was bad (so far this has not happened) - and they refused to send me a good check - then I would simply cancel the reservation. You have the control.

I had never considered renting before last year - but my brother really needed the money - and it was GREAT. Meet some wonderful people and they just loved the bargin.

Now some people did not read my ad - it say Sept/Oct only - and I had to send them to others. But that only got me one negatitive comment.

One person wanted 460 points in Jan....

I, on the whole, don't like big contracts - I like a bunch of small ones. but hey everyone is different.

You need to do what feels right for you.

If it doesn't feel right - walk away - a better offer will come around.

forgot - I generally don't rent here - I use
www.redweek.com

Thank you so much. It sounds easy and a win win situation. I am so happy and can't wait for my chance to come. Thanks

 

[CharlesTD]

We have rented out points about 12 or so times and have never had any problems at all we did have to change one reservation but it was only to bump it back a week due to a work issue for the family.

 

[mom2alix]

We've only rented our points once (because we were having a baby that year).

We actually transferred our points to another member, so no headaches at all. That seems like the easiest to me since you don't have to worry about changes, cancellations etc. Once the points were transferred I was done. It's also nice that the other member was able to get the extra points they needed for a special trip that year. Somtimes borrowing and banking won't cut it for a really large group but you don't actually want to do an add-on since you won't need that many points every year.

 

[bobbiwoz]

This is a good poll to have! Never rented, just watching the results and comments.

Bobbi

 

[twinmomplus2new]

I have rented only twice.

Once to justify staying onsite at Universal... Sold 72 points (secured a reservation that is for a fellow diser) He chose the dates. Paid me up front by overnight by cashiers check. He was real sweetie to work with.


Second time.. I made a Ressie for my she wasn't going to use and sold it to another very nice diser. Same terms as before. Seamless transaction.

I have been exceedingly lucky!

 

[kathleena]

Too many questions in your post to answer, I just don't have the time.

I rented twice. Reason was I bought 45 points within 60 days of my use year. One night rental was fine - just and easy book and payment. The other ressie was slightly more complicated - was asked to change resorts, waitlist, add a night.

 

[Muushka]

How many times have you rented out your points? 4 times

After making the reservation, have you have to change anything to the reservation? In how many occations? only once, to change to HA


How was Payment? I accepted a personal check
As arranged or Late. Any problems with that? all was fine

Have you have to refund the money at any time? nope, not one penny

Have you had any bad experiences? why. Just with one DVC member who changed her mind at the last minute and understood that her points were non-refundable (only 8 though) because it was within 30 days of Reservation.
She was a hassle from the git-go. Probably should not have rented to her.


How would you rate the transaction? Well, all but that one was a piece of cake (easy)

A Complicated business transaction, (a lot of work involved)

A diet (some work involved, but with wonderful results)

A nightmare ( Not so great experienced)



How many times have you had a great experience? (no complications) 3 times


How many times have you had an ok experience? (some complications)


How many times have you had a bad experience? (To many complications)1 time

How many times have you had a horrible experience? (Non payment, etc.) none

 

[EdTreo]

It looks like transferring points seems a better choice for dvc renters. Why isn't this a more popular option? Any disadvantage?

 

[Lisa F]

I've rented out a few times in order to pay for our august repo cruise and most of them have been good transactions. I much prefer transfers because once the points go into another person's account, I'm completely out of it. I have done two transfers with a third in the works

If I am renting to a non-member I make it my policy that once you rent the points, they are yours. I don't give any refunds and if you need to cancel, the renter needs to find someone to take over the reservation. When I outline my policy there have been times when I never heard from the person again and I can understand that, but I feel like for the huge discount the renter is getting on those rooms, I can't be running a business like disney with cancellation policies etc. Most people have had no problem with it.

I only have had one renter who did have to cancel at the last minute because her daughter broke her arm. She found someone to take over the reservation with some changes and I was happy to call and check availability and make those changes for her, so things still worked out fine for all involved.

I used to take whatever form of payment someone wanted to send (including personal check) but since someone cancelled their check on me, I only take a money order/cashier's check or paypal if someone wants to pay the paypal fees. Yeah, I'm a meanie, but I am trying to make things as easy on myself as possible. I don't rent as a full time business, I just rent out my points when I want to do another special vacation like a cruise.

 

[mikesmom]

We've rented out 4 times over the last 2 years because of extended family not understanding you don't cancel ressies and because of unexpected surgery last year. Those 4 people were fabulous. Knew what they wanted, friendly and flexible. Felt like I made some new friends, too. I think we did check/money order twice and I took a credit card twice (I have my own business).

On the down side, during that process, I ran into a couple of real downers. I won't go into details, but both agreed to rent at $10, and after time spent and several calls and emails to them and MS checking on options and setting it up, came back and wanted lower prices. I did't lose any points, of course, because it was just short of the ressie being made, but I really resented the wasted time. It also made me pretty nervous about folks flaking out.

So, it's pretty much luck of the draw.

 

[Johnnie Fedora]

Since owning, we have rented about 6 times. All have been fine so far. We have had to make changes in several of the reservations. In the renting process, you do end up becoming a mini-travel agent, but it has been well worth the work. We have used the proceeds for two 7-day cruises, 8 nights offsite WDW, 2 cash nights at DVC. The $ proceeds far exceed the rate you get from Disney for "points trades".

If your renting points you do have to be sure you understand all the points rules. Bad renting experiences my result if the member is clueless about transfering, banking, borrowing, use year and holding accounts.

 

[JimMIA]

This is a good poll to have! Never rented, just watching the results and comments.

Bobbi

I heartily agree. Haven't rented yet, but this is the most useful poll I've seen on these boards. Hopefully, a lot more people will participate so we have more than anecdotal info.

 

[disneyberry]

[size=+0]I hesitated at first to reply to this thread because the poll results are overwhelmingly positive, and it was surprising to me.

Like spiceycat, I've done small rentals (for instance I transferred points to a handful of different members who needed small amts of points). So in 3 years, I've actually worked with 9 different families on either rentals, transfers, or trades. Hm, I've never really realized it was that many until I counted them up just now.

I have found that the worst part of renting out points is the beginning when you are trying to get together with a renter. There is a lot of work involved when you are checking availability, explaining the inner workings of DVC to non-members, or even having to explain your particular rental process or terms. I've also found that, like Lisa F, when you send someone your full terms/conditions upfront, that casual shoppers will often go away.

The frustrating part comes when potential renters are not responsive. I take the time to respond to every inquiry I get, and sometimes wish that people I work with would also have the courtesy of getting back to me promptly. There have been quite a few times that I felt strung along, only to have the potential renter back out. Either that, or they completely disappear. And this is usually after I have already played the part of "travel agent" and have tried to answer all their Disney trip-planning questions, even if it might not be directly related to the DVC rental. Maybe I've just had the bad luck to work w/ the few "bad apples", or maybe I'm too nice and shouldn't spend the time answering so many questions (the questions thing could be karma 'cause when I was a renter I certainly had a million questions Thanks to the owners who helped me back then!). But still I believe in providing my renters with good customer service, so despite my frustration I still put on a smile and do my best. Anyway, it's not the questions I mind, it's when people string me along only to flake out, or they don't get back to me.

In any case, after I finally hook up with a definite renter, things have gone very well. The only exception was my very first time renting, I did have some major payment problems. Initially, I'd offered to accept Paypal, but the renter didn't really have their Paypal account set up properly, and also didn't know what it meant to be "Verified" Paypal. So they offered to mail me a cashiers check. Then, it turned out I got the check in the mail, and it was not filled out properly. I had to mail it back to them. Long story short, payment was delayed quite a bit, and I took a risk because at that point it was already under 30 days and my points would've been in holding if I'd had to cancel.

I did not vote in the poll, because none of the options really fit my experience. All in all, if I had to rate my overall experience, things were good w/ some expected complications only AFTER I found a renter who definitely wanted to work with me. The initial searching process can be a big PITA with UNexpected complications. In general, I would advise owners to be prepared for a business transaction with a fair amount of work involved. JMHO. YMMV.[/size]

 

[huey duey & luey]

I am considering renting out 05 points (I may have a transfer). My UY is dec, so if I dont use I must bank by May 31. If I rent them before that, do I have the renter pay the full amountonce the res is made. I am very confused to this whole process can't you tell

 

[mikayla'sMom]

I have not rented, but I have been the rentee. I have rented 2 times through this board. I had no problem with either, infact it was very smooth. I had such a good experience the first time, I tried to rent from that person again, but they didn't have what I needed at that time. The second time I had to transfer a few points into the renters account to even us out. I always like to be in borrow mode so I never get stuck with points. I think it is great to have this arena available to help eachother out. I as the rentee take a risk to, but I would & will do it again.

 

[melkimmom]

Thank you all for your responses and experiences.

[size=+0]I hesitated at first to reply to this thread because the poll results are overwhelmingly positive, and it was surprising to me.

Like spiceycat, I've done small rentals (for instance I transferred points to a handful of different members who needed small amts of points). So in 3 years, I've actually worked with 9 different families on either rentals, transfers, or trades. Hm, I've never really realized it was that many until I counted them up just now.

I have found that the worst part of renting out points is the beginning when you are trying to get together with a renter. There is a lot of work involved when you are checking availability, explaining the inner workings of DVC to non-members, or even having to explain your particular rental process or terms. I've also found that, like Lisa F, when you send someone your full terms/conditions upfront, that casual shoppers will often go away.

The frustrating part comes when potential renters are not responsive. I take the time to respond to every inquiry I get, and sometimes wish that people I work with would also have the courtesy of getting back to me promptly. There have been quite a few times that I felt strung along, only to have the potential renter back out. Either that, or they completely disappear. And this is usually after I have already played the part of "travel agent" and have tried to answer all their Disney trip-planning questions, even if it might not be directly related to the DVC rental. Maybe I've just had the bad luck to work w/ the few "bad apples", or maybe I'm too nice and shouldn't spend the time answering so many questions (the questions thing could be karma 'cause when I was a renter I certainly had a million questions Thanks to the owners who helped me back then!). But still I believe in providing my renters with good customer service, so despite my frustration I still put on a smile and do my best. Anyway, it's not the questions I mind, it's when people string me along only to flake out, or they don't get back to me.

In any case, after I finally hook up with a definite renter, things have gone very well. The only exception was my very first time renting, I did have some major payment problems. Initially, I'd offered to accept Paypal, but the renter didn't really have their Paypal account set up properly, and also didn't know what it meant to be "Verified" Paypal. So they offered to mail me a cashiers check. Then, it turned out I got the check in the mail, and it was not filled out properly. I had to mail it back to them. Long story short, payment was delayed quite a bit, and I took a risk because at that point it was already under 30 days and my points would've been in holding if I'd had to cancel.

I did not vote in the poll, because none of the options really fit my experience. All in all, if I had to rate my overall experience, things were good w/ some expected complications only AFTER I found a renter who definitely wanted to work with me. The initial searching process can be a big PITA with UNexpected complications. In general, I would advise owners to be prepared for a business transaction with a fair amount of work involved. JMHO. YMMV.[/size]

I am very glad that you posted, some people forget the hard work that involves renting out points. Worth it I am sure for some, but the work still there. Thank you again for taking the time.

 

[Y-ASK]

I agree a lot with what disneyberry wrote and I've had both positive and negative experinces over the last several weeks. I kind of got the hang of it after a while and towards the end of the points that I had for rent I started to like the process.

Edit: Took out the idea of renting points for other DVC owners because I started a new thread about that.


Y-ASK

 

[No1HawkFan]

Sorry too many questions but have rented 4 times and smooth transactions. Remember it is a numbers game. I had 600 points to rent--10 people interested in the points---7 people wanted me to make reservations----then a few people didn't respond once I reserved their room-----then 2 reservations were not available for request----then finalized reservations for 4 people.

I would say 2 total hours required(posting, responding, on the phone with DVC, brief phone calls with some renters) to rent 600 points.


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Iowa Hawkeyes didn't show up against Cincinnati. Alford needs to be fired.