I'm renting our points out for the first time. What's the process?

[mamaprincess]

I put our 2007 points up for rent and got several replies. How do you construct the contract? Do you fax it and have it signed or email it? What percentage of the total down do you ask for? How far in advance of the check-in date is the balance due? Do you go through paypal?

Thanks for your help.

 

[Deb & Bill]

They are your points, so do anything you can to protect them and your money. I think there are a few threads out there with sample contracts or links to sample contracts.

 

[Kurby]

i recently did our 07 points.

we just agreed to a price through email - everything was done through email.

i asked for 50% up front on pay pal. and 50% once the confirmation letter came in.

all you'll need once you commit is all the names and ages if they are kids of everyone staying in the room - their home address and home phone number (which is good for you to verify that the names they give you show up in the white pages if you do a search)

you are the one who has to call back if they choose to add the DDP or DDDP but they are responsible for their own park passes.

Oh and if they do want the dining plan they pay for it once they arrive so once the reservations are done you're pretty much done too.

 

[mamaprincess]

Thanks Kurby! Did you do a contract?

 

[murcor]

I have never rented out my points, but have rented from others. Both times after making email contact I had called the rentor direct. I think this shows someone is indeed serious about renting your points. Other than the other good advice that has been posted, I would ask to have then give you a call.

Angela

 

[Kurby]

no we didn't do a "Contract" we agreed to everything and stated all the information in an email which would actually be considered legal if anything happened.

I gave my phone number and address and she gave me her's

she called me to confirm i was who i said i was and since i wasn't home i had to call her back - before doing so I just verified her info by looking it up in her states online 411

don't know if she did that for me but she could have if she wanted.

there is always a risk on both parties but that is the change you take if you are renting them out or renting them in.

they risk is low though - i've read some posts on here about minor and major horror stories but if you look at how many people rent in and out the number of horror stories are a very small percentage.

good luck.

 

[Granny]

Thanks Kurby! Did you do a contract?

I would strongly recommend a simple contract. Not so much because you'd want to enforce it but because it can be used to clearly spell out expectations.

Here's a link to some Sample DVC Rental Contracts.

And another link to a DVC Point Rental Primer.

I think both are very helpful.

 

[robinb]

I have a simple contract with my renters based on the ones in the previous post. It spells out everything for each party so there are no surprises. I come to an agreement on price (more than the going rate), make the reservation and email the contract to the buyer so they know what to expect. Once they agree, I send two hard copies of the contract to they buyer to be signed along with the hard copy of the confirmation. They return both to me along with their payment and I return one contract to them signed. I expect at least partial payment when the contract is returned to me as specified in the contract. If the vacation date is a long way away (I have booked 11 months in advance!) I only expect 1/2 down with the remaining within 3 months of the reservation. I always accept personal checks if I have enough time and have never been "screwed" by a buyer (*knock wood*). I only accept PayPal if the buyer insists (and pays the fee) or if there is a time crunch and then I eat the fee.

I treat the buyer in a way that I would like to be treated. I know that I would not want to pony up 100% of a reservation months and months in advance so I don't ask my buyers to do that either. I know that many people require 100% upfront with no cancellation policy (I do offer one) but I'm not so keen on treating the customers that way. I have no problem finding renters and some of them are repeat renters!

 

[mamaprincess]

Thanks everyone for your replies and excellent advice. I feel much more prepared now to handle the transaction.