Is it risky to rent points?

[Gabby&Liv's Mommy]

Don't know if this is the right place for my question.
I recently rented points for the first time and now am starting to get cold feet. Should I be concerned about the DVC member cancelling the reservation before my trip? I have called to confirm and have the Disney confirmation, but what is to stop the DVC member from cancelling my trip the week before I go. Would they loose the points? I hate to call Disney weekly to ensure my reservation has not been cancelled.
Looking for advice.
Laurel

 

[Tissa]

There is nothing to stop the owner from cancelling your reservation, you just have to trust the person you are renting from. I would call and confirm a few weeks before you leave but that's it. I'm renting for the first time and I just have to have faith, trust and pixie dust.

 

[mikesmom]

There is nothing to stop them from cancelling. However, if they are within the 30 day window, the points would go into "holding" which would make it a real problem for the owner to use the points. They aren't totally lost, but depending on the the use year and the time of year, they might as well be.

 

[JimMIA]

People who own DVC aren't the type of folks who would cancel someone else's vacation to rip them off for a couple thousand bucks. If that happened, I'm sure we would hear about it here and we haven't.

Enjoy your vacation!

 

[dianeschlicht]

What renters need to realize is that the risk is just as great for the owner, if not greater. There are no more reasons for an owner to cancel than there would be for a travel agent to cancel. There has to be trust on both sides. If you don't have that trust, don't rent. I always feel a person who trusts is also trustworthy. If I rented out points I would be pretty skeptical of a renter who didn't trust me....I'd think I couldn't trust them.

 

[Deb & Bill]

If you want to eliminate the risk, you can always call CRO. Then you can change your mind, change your reservation, cancel, etc with little fear.

Actually, the reservation is fully under the control of the owner until you check into the resort. At that point, they can no longer change the name on the reservation, use the points to book elsewhere, etc. But most won't. They are just as worried that you may leave without paying a bill, not leave a credit card and they get stuck with the bill. Or stuck with the costs of repairs that the non-member left behind.

 

[dianeschlicht]

They are just as worried that you may leave without paying a bill, not leave a credit card and they get stuck with the bill. Or stuck with the costs of repairs that the non-member left behind.
__________________

Those are a few of the risks owners take.

 

[Gabby&Liv's Mommy]

Thank you very much for all of your feedback. The person I rented from seems very, very trustworthy and I am normally a very trusing person. It just made me a little nervous sending thousands of dollars to someone I didn't know. My family is really looking forward to the trip. This is the first trip for my youngest, DD2.

I appreciate all of the info you provided. I just needed a little assurance.

Thanks so much!!

 

[mickeyluv]

I read a thread yesterday regarding renting points and a poster said she had a contract that she could forward to whoever needed one, just leave the names blank. I'm trying to find that thread again, but for the life of me I just can't find it. If anyone has a contract that they would like to share, please pm me. Thanks!

 

[RobDoc]

Here is a thread with sample rental contracts.

I'd also suggest asking for (and checking) references of the member you want to rent from. You should also read some of their posts on the DIS to get an idea what type of individual they may be.

Enjoy!

 

[mickeyluv]

Thanks alot! I've talked with the owner who I am considering renting points from and he said we could do a contract if we wanted to but he has never done one before. I don't want to offend him or any other owner for that matter, but my concern is like all the other renters out there...what's to stop the owner from cancelling the reservation once full payment has been made. I read on another thread where a owner stated that if the renter was suspicous and acting non-trusting then he/she (being the owner) would be suspicious of the renter for acting non-trustworthy. Do owner's normally get offended when renters ask for references of prior renters? Thanks!

 

[greenban]

I'm somewhat of a Monster renter and I can only answer from my perspective. As the Owner, I insist on a signed contract from my renter for our mutual protection. It specifies what is and isn't included (like daily housekeeping), that the Rentee is responsible for all damages and debts incurred to the room, etc. It also explains cancellation/change policies, payment due dates and the like. This way, I don't forget to inform a new renter of something important, and a renter has many of their questions answered.

In the real world, the cost of enforcing the contract is probably too prohibitive to be of any value, but at least clear lines of communications are opened.

I, again personally, don't take offense when referrences are asked for. It happens about 5-10% of the time. I'm also not offended when a renter expresses concerns about the posibility of them getting ripped off, this is the internet after all, and many of my reservations are in the many thousand dollar range. Like Diane, I'm an honest bloke (although, you have no way of knowing that) and I'll bend over backwards to make you comfortable. It is your money that I'm trying to earn!

Having said that, I have had several renters who gave me a 'squirely' feeling, and I broke off dealing with them (before money or a contract changed hands). If you're not comfortable with me, or I'm not comfortable with you, then there are plenty more Owners and Renters out there, no need for us to 'torture' ourselves.

Now, I find many of my prior renters coming back to re-rent, and I prefer this, since we are both known quantities. I give them a price break, and they don't need as much hand-holding the second or third time.

I have no scientific or hard evidence, but from this and other Disney boards, it seems that there are more 'bad' Renters than Owners out there.

I'm sure if someone had a bad experience or got ripped off, that they could post it here publically, without naming any names (as that would be an attack and against posting guidelines).

Have a great vacation!

-Tony

 

[dianeschlicht]

Yours was a GREAT post, Tony, and should be a stock answer to questions like these.

 

[DVCconvert]

Yes Tony -great post!

 

[rinkwide]

Tony, you make me feel squirely.

 

[greenban]

Wow!

Thank you Diane and DVCconvert for the compliments, coming from your calibre of DISers, that is indeed heady praise!

Rink, my dear friend, you are not squirely at all, in fact, you are a different species of rodent entirely!

-Tony

 

[rinkwide]

Oh, you meant squirrely, not "squirely". That one little "r" makes all the difference.

 

[LIFERBABE]

Great answer Tony!

I agree. I offer upfront references and a written agreement. That said, I choose not to work with the squirrely renters also.

Everything is not for everyone and that applies to DVC rentals.

When we used to rent Vacation Homes, we were always required to put down a refundable Security Deposit that we would receive back 3 weeks after our vacation if all was well with the property we rented. This was normally around $250.00.

Most DVC rentals do not require a deposit, so yes the owner is assuming alot of risk also and is "trusting" the renter also.

I use an agreement to outline policies and procedures and expectations. An agreement will not stop a member from cancelling a reservation. Only a conscience will do that!

 

[katefromny]

I agree with Tony and most of the others...get it in writing!

I have rented twice previously from DVC members and both experiences were pleasant and efficient, both times there were contracts which provided specifics regarding deposits, deadlines and penalties for cancellations. Now I am in the planning stages of our next vacation, and hope to rent again from the DVC member I rented from last year. Once you've established a basic trust, I think it becomes easier the next time...but like yourself, the first time I rented I was a little skeptical that the room would actually be there when we arrived.

Take a leap of faith....but get it in writing first!!!

Kate

 

[DrTomorrow]

Oh, you meant squirrely, not "squirely". That one little "r" makes all the difference.

Thanks for clearing this up - I thought he was talking about helping knights up on horses....