Is it really this simple-or am I missing something?

[familyfun]

Newbie here! I've read the FAQs, etc. calculated how many points necessary for our stay, and I understand the importance of trust between both parties - got it.
Once I find someone willing to rent their points to me, they make reservations through DVC Reservations - in my name- and I pay the DVC member for the required # of points based on the agreed on price? DVC member sends me the confirmation. Is this all there is to do? Once I have the confirmation I can talk directly to reservation center myself? If I have missed any details or important info. please clue me in!

 

[coasterbob]

Newbie here! I've read the FAQs, etc. calculated how many points necessary for our stay, and I understand the importance of trust between both parties - got it.
Once I find someone willing to rent their points to me, they make reservations through DVC Reservations - in my name- and I pay the DVC member for the required # of points based on the agreed on price? DVC member sends me the confirmation. Is this all there is to do? Once I have the confirmation I can talk directly to reservation center myself? If I have missed any details or important info. please clue me in!

....I have the same questions, exactly! Sounds too good to be true.......but I hope it is true! Thanks, Bob

 

[Chuck S]

Basically, that is all there is to it. However, you can only talk to Member Services to confirm the reservation. The DVC member always has control of the reservation, that is why it is important to have something in writing between the two parties detailing their rights and responsibilities. DVC/Disney/Member Services will not involve themselves in any dispute between a renter and and owner. It is important to find someone trustworthy to rent from. Preferably someone with a fairly high post count here on the boards and/or with references for previous renters.

 

[arcruiser]

... and I understand the importance of trust between both parties

That's it in a nutshell.

FWIW, we rented points from members twice and everything went well...
so well that we ended up buying.
(we didn't do contracts either time - not everybody does contracts)

 

[Sheriff Woody]

Is the contract something formal? I.E., should I hire a lawyer to write it?

 

[Chuck S]

I've not rented points myself, but I would think a simple contract would do. Something that contains method of payment and payment deadlines, cancellation/change agreement, and reservation room type, location, and dates. Plus, what would happen if those deadlines aren't met (would any $$ paid be forfeit?). Also, any repercussions for the member if they cancel the ressie after full paymentis received. As previously mentioned, the main thing is simply protecting and trusting both parties to their satisfaction.

 

[arcruiser]

theres a sample contract in this thread HERE

 

[TammyAlphabet]

It is very simple, i rented once and everything went off without a hitch. But, beware, you may bet bitten by the DVC bug......

 

[Happy Birthday Cat]

Is the contract something formal? I.E., should I hire a lawyer to write it?

Here are a couple of widely used contracts (Link) . When I rented in the past to people, I used a mixture of the many contracts I have seen on this board. No need to hire an attorney IMHO.

HBC

 

[PamOKW]

Yes, it's that simple.

However, if your plans change and you need to cancel or re-book - it's not as simple as just calling Disney and cancelling. That's the main reason for some type of contract or agreement up front. Most rentals are "final sale" but a member may be able to work with you to re-book if something like illness or death forces you to change your plans.

 

[fausz4]

I rented points for our trip in Sept 05 last month...It was that easy. I just made sure I found a DVCer that had been posting on the board for sometime and felt comfortable dealing with. So far it has been smooth - we did not sign a contract, but neither asked for one either.

I think we have been bitten by the DVC bug....I even have my DH considering it!

We are not sure we can afford all of the points we want right now....should we go ahead and purchase a smaller number now???

Thanks for the feedback!

 

[Alexander]

We've rented four or five times. Always had wonderful people to deal with (they were different people each time). We have had one contract. Each time we paid 50% after confirmation of the reservation. Most times the remaining 50% 60 days out. Once the owner preferred monthly payments until the balance was paid. Everyone was wonderful and accomodating! We are now owners ourselves. I can't even imagine renting my points though, I want to use them myself!

 

[lllovell]

We are not sure we can afford all of the points we want right now....should we go ahead and purchase a smaller number now???

Thanks for the feedback!

I would start small to be honest - making sure to have enough points to allow you to travel at least once every few years (where you can bank the points from one year, borrow the points from the next year and take the trip in the year in between). I bet you can find a resale that is "small enough" to fit that criteria. Then do some math and if you can afford more, then maybe look for a bigger contract to buy (or contact Disney directly and see what they are offering.) I didn't do a resale, but lots of people here have had GREAT experiences with it and you can buy smaller contracts that way.

That said, the reason I would buy smaller if I had to do it over again is that Disney offers incentives from time to time if you "add on". We are multiple trip takers a year, so we still will pay cash for some of our trips, so buying into DVC slowly would not have been a bad thing, I just didn't know about the add on incentives until after we had purchased.

Buy what you can afford, pay it off (or save up) and then buy more If you are like the rest of us, you will NEVER have enough points anyway lol

 

[poohj80]

The one time we rented, the confirmation was still mailed to the DVC member but with the renter's name on it as well as their own. The member then faxed the confirmation to the renter and all went well.

 

[jnrrt]

When we rented, we really didn't know what we were doing, and we were the first renters for the people renting who were new owners! And even with all that, it all went fine. I felt very comfortable with her after emailing. We didn't sign a contract either, but I did check in with member services a few times. Not saying that I would do it that way again, but it worked fine for us.