Interesting Info in August Vacation Magic email

[punkin712]

Did anyone notice this in today's email?

Policies protect personal use and enjoyment
In a continuing effort to maximize Members' personal enjoyment of their Membership, Disney Vacation Club would like to remind Members about several related policies outlined in the Public Offering Statement and other Member documents.

As a reminder, published policies limit the use of accommodations and recreational facilities solely to the personal use and enjoyment of Owners, their lessees, Guests, exchangers and invitees and for recreational uses by corporations and other entities owning Ownership Interests in a Unit.

To maximize the availability of reservations for these permitted purposes, Disney Vacation Club closely monitors reservations and may cancel reserved accommodations if a pattern of rental activity for profit is discovered.

Additionally, current policies limit Vacation Point-transfer transactions to one transfer per Member or Membership, either as transferee or transferor, during a given Use Year.

"We want to ensure that Members have the greatest opportunity to enjoy the magic of Membership," said Leigh Anne Nieman, Director of Business Standards and Regulatory Affairs for Disney Vacation Club. "With that in mind, we're committed to maximizing the availability of Ownership Interests and accommodations for Members' personal enjoyment, and we're committed to enforcing the policies that help us deliver on that commitment."

It has always been the policy of Disney Vacation Club that Membership is designed specifically to provide long-term personal enjoyment, and Members shouldn't purchase their Membership as an appreciable short-term investment

We never rented out our points, but it sounds like many DVC owners do. I wonder if this is something they should be concerned about or if DVC will really try to enforce this rule.

 

[jeankeri]

I just read that myself. I rented points once when I was going to lose points (they would have expired before I could travel), but do not consider myself a professional renter. There are some on the rent/trade board who seem to have limitless points to rent. Has this issue ever been in the newsletter before??

 

[poohbear7]

I just read the newsletter and I've never seen this information in the newsletter before.

 

[aero99]

I read the email and immediately came here to get everyone's opinion. I have to admit the last couple of days have me reconsider the add-on I was planning. We love HHI so I was going to purchase ~55 pts so can home advantage every three years. I figured if we wanted to go more than that, I would rent additional pts to be transfered in (I would go resale so it would be a separate contract). I am now cosidering buying enough to go every other year so I wouldn't have to worry about transfers. Ahhh the things I have to worry about

 

[Monte Cristo]

It's been a big topic here....I guess this is the notification to membership.

 

[chris1gill]

I wonder why I don't get these emails? I've emailed in the past to be added to the list, but alas have never been added! Is this the whole email that's been posted?

 

[4mcbjCtr]

This still would allow for an occassional rental out though if you find your points are going to go to waste?

 

[crisi]

This still would allow for an occassional rental out though if you find your points are going to go to waste?

That is how I read it, but I'd think you'd have a much more difficult time finding takers for those points.

 

[Connears]

I also thought this was very interesting email. We have given family members points for vacation/honeymoon 2 times and did rent points to another dvc member once through these boards. This is over the 12 years we have owned at OKW. I really don't care about not renting as it was an isolated event, but we do love to have our family enjoy the points without us if we are not using them. Hope this won't be an issue.
Connears

 

[KarenP99]

I think it's a case of a few bad apples spoiling it for the rest of us.

We use up all of our own points, but if we want to have family join us (or do an extra trip without borrowing), we'll find someone to transfer. It's worked out so nice.

 

[MIDisFan]

I'm not a DVC member (yet!), but it seems from the email that Disney is more concerned about the big point contracts that seem to get rented out routinely. The part in the email that jumped out at me was:

"To maximize the availability of reservations for these permitted purposes, Disney Vacation Club closely monitors reservations and may cancel reserved accommodations if a pattern of rental activity for profit is discovered."

I don't think they ever had a problem with people renting or transfering points so that they wouldn't lose them that year. It always seems to take a few bad apples to ruin things for everyone else.

 

[RobDoc]

I don't see this as anything about stopping rentals and the statment even inlcudes language right from the POS regarding renting - "published policies limit the use of accommodations and recreational facilities solely to the personal use and enjoyment of Owners, their lessees, Guests, exchangers and invitees" .

The question and an issue which the documents, IMO, do not clearly define is the phrase "pattern of rental activity for profit is discovered" - also taken right from the POS.

Some have suggested that since Disney itself is the largest renter of accommodations, they would not be able to defend any punitive action against members, but that would be an interesting legal action to observe (from the outside looking in).

IMO, DVC would have a means to identify a "pattern of rental activity for profit" pretty easily - whether or not they (DVC) would actually act on that indetification is another matter. I suspect time will tell.

Perhaps this is like drivers slowing down when a squad car is spotted on the interstate and will have the desired effect without having to issue a citation. I would certainly think twice about not using a majority of my points personally at this point in time though.

Sort of makes you wonder if DVC has even "rented" from some thru the internet themselves and therefore have much more information about these profit renters than just an anonymous username- all provided by the members themselves. Some have even stated they are renting for a profit on multiple internet forums.

Stay tuned!

 

[CarolA]

I.

Sort of makes you wonder if DVC has even "rented" from some thru the internet themselves and therefore have much more information about these profit renters than just an anonymous username- all provided by the members themselves. Some have even stated they are renting for a profit on multiple internet forums.

Stay tuned!

[Waiting for all the fun to begin]

 

[Muushka]

So does this mean that members will not have to worry as much about making their reservations a exactly 11 months out for in-demand times? Maybe not so much competition with the renters booking their 'for profit' vacations at popular times.

I can only hope.....

 

[allflgirl]

Sorry, a little off topic.

If I had known, before I dropped thousands of dollars for DVC, that I could rent from an owner at $10 a point or even less, I would have never bought and just kept my money in my pocket and rented from owners.

Sorry, just had to get that off my chest as it has bothered me ever since I found this board.

I feel better now.

Thanks!

 

[rinkwide]

...If I had known, before I dropped thousands of dollars for DVC, that I could rent from an owner at $10 a point or even less, I would have never bought and just kept my money in my pocket and rented from owners...

You mean your guide didn't tell you?

 

[allflgirl]

You mean your guide didn't tell you?

No he didn't, go figure...

I did read through all the docs thoroughly and do remember reading somewhere that you can rent out your points, however, I wouldn't have thought it would be for such a low amount. I would feel $13 - $15 per point would be a reasonable amount to ask someone who's not an DVC owner. Renting to another member, now I can see renting at the $10 level as you're not assuming as much risk.

Enough said.

 

[Figment2]

So does personal use of accomodations and recreational facilities by lessees include valet parking and/or pool hopping?

Just wondering...

Cyn

 

[crisi]

No he didn't, go figure...

I did read through all the docs thoroughly and do remember reading somewhere that you can rent out your points, however, I wouldn't have thought it would be for such a low amount. I would feel $13 - $15 per point would be a reasonable amount to ask someone who's not an DVC owner. Renting to another member, now I can see renting at the $10 level as you're not assuming as much risk.

Enough said.

$10 is a great price if you bought your points 12 years ago and paid $55 and are now casually renting to cover dues and the cost of a non-Disney vacation. The problem with point rentals as a business is that some owners are at a definate advantage in terms of their costs and motivations for renting, while others have much higher costs (recent buyers, owners at higher dues resorts) and motivations for profit.

 

[Chuck S]

So does personal use of accomodations and recreational facilities by lessees include valet parking and/or pool hopping?

Just wondering...

Pool hopping and valet parking are classified as perks, and may be discontinued at any time, even for members. However, according to the rules regarding those perks, valet parking is for DVC members only, regardless if they are stying on points. Pool hopping is for members only, and only of they are staying at a DVC resort on points.