Is renting out your DVC for profit legal?

[Doctor P]

If you are talking about Disney travel insurance, you only get the dollar value of 50% of your canceled trip points for covered reasons. Not the points. The value of the points are based upon the formula in the policy. Depending upon when you cancel, you may still be able to use the points for another trip, or you may loose them.

???? You get $5 per point for all your points last I heard. What do you mean that you only get the dollar value of 50% of your points? They may need to up things $1-2 but the point is that DVC has always "valued" the points at their cost which is about $5-6 per point right now ($1-2 for the upfront point cost and then $4-5 for the maintenance fees). You will find that this holds true for the way exchanges are generally valued as well. While it is true that $10 or so is the going rate for rental of points on these boards, the true COST of points is much less than than for most people and that is what insurance pays for.

 

[sjdisneywedding]

Help me here...

I'm still not sold on the whole *need* to rent points. If you can't go on a vacation this year for whatever reason, why don't you just bank your points so you don't "loose" them? Then next year rolls around & you use the banked points first, then use that UY's points or bank them if you can't use them. And did we forget travel insurance? If you purchase the travel insurance, you get reimbursed (somewhat).

This annoys me. All the people for renting say, "well, if you can't book 11-7 months in advanced than DVC is not right for you.

No. If you can't go to WDW at least every other year than DVC is not right for you. DVC states that DVC is only worth it if you at least go every other year.

I would love it if DVC banned renting all together. Maybe make it that the owner must be present for the reservation with the exception of one reservation a year being allowed to "bless" family/friends with a trip without you needing to be present.

Some may rarely be able to stay at a certain resort due to it not being their home resort, but were told by the DVC staff that "they can stay at any of the DVC resorts" so they purchased. That's not fair to them, just so someone can rent their points to pay for their maintenance fees or so they wont "loose" their points.

It's just not right. Either you buy DVC to use yourself or you don't buy DVC at all. It's that simple.

Actually its no where near that simple. Many may have only bought enough points to go every other year or every 3 years so your theory on just banking the points and using them the next year doesnt really apply to everyone. Why is DVC not right for them, I would think that is their decision.

Also many may have points that they share as a family, or many treat their children or parents, or friends to a vacation once in awhile so saying the owner must be there isnt really all that great of an idea either

the travel insurance is not even remotely close to getting top value for the points not to mention you are paying for that in addition so in the end you are getting even less return


I dont really like the renters either but maybe WE all should have read the terms a bit better-maybe DVC is not for US. It clearly lists is the terms lessee's, friends, guests, etc


".....Use of the Vacation Homes and related facilities of a DVC Resort is limited solely to the personal use of Club Members, their guests, invitees, exchangers and lessees and for recreational use by corporations or other similar business entities owning Ownership Interests while staying as a registered guest at a DVC Resort...."

 

[mprewitt]

".....Use of the Vacation Homes and related facilities of a DVC Resort is limited solely to the personal use of Club Members, their guests, invitees, exchangers and lessees and for recreational use by corporations or other similar business entities owning Ownership Interests while staying as a registered guest at a DVC Resort...."

In the newer component site POS for AKV, DVC has expanded the information on rentals, making it even clearer that renting is allowed.

V. RENTALS

5.1 Club Member Rentals. A Club Member may make a reservation to use Vacation Homes for the Club Member's own use, make their reservations available to family or friends or guests, or rent them solely through the Club Member's own efforts. DVD's approval of a rental by a Club Member is not required after a reservation has been made in the renter's own name, and Club Members are permitted to rent their occupancy rights on terms and conditions that they may establish... All renters must comply with the rules and regulations affecting occupancy, and the renting Club Member will be responsible for the acts or omissions of the renters or any other persons permitted by the Club Member to use the Vacation Home.

There is a lot more. There are several sections that clearly state that any damage to the rooms caused by renters or guests are the responsibility of the Club Member. It also states that DVC requires that the Club Member and the renter have a written agreement.

If you own at AKV and are renting points, it would probably be wise to review the AKV POS. Compared to the multi-site POS and the individual POS for VWL, BWV, and BCV that I have reviewed, DVC has put in some additional text regarding rules pertaining to renting.

 

[MissMet]

I never said Disney doesn't allow renting or anything even close to that. I gave my views on renting.

Let me just say that my earlier post was regarding two arguments I always end up reading on these many different "renting debates". 1. renters need to rent because they'll loose their points if they don't use them 2. if they get sick or have a family death & have to cancel their trip they'll loose their points.

Also, my idea of the owner needing to be present was not for every vacation. I was giving an idea. I said one trip a year you could schedule a trip in someone else's name. Obviously, to me, one who only uses DVC for my family & friends when I'm present, one trip a year without me present is more than enough. I'm not saying I feel that's what Disney will do or even should do. From my point of view that's what I would like them to do.

I also wasn't saying that it's my decision on who should buy or not. I was throwing back the same sentence that others have said in this forum, when people voice their disappointment of not getting their first choice of hotels at 6 months out. Those are told DVC isn't right for them & they "shouldn't have bought because they can't plan their vacations 7-11 months out"

Actually its no where near that simple. Many may have only bought enough points to go every other year or every 3 years so your theory on just banking the points and using them the next year doesnt really apply to everyone. Why is DVC not right for them, I would think that is their decision.

Also many may have points that they share as a family, or many treat their children or parents, or friends to a vacation once in awhile so saying the owner must be there isnt really all that great of an idea either

the travel insurance is not even remotely close to getting top value for the points not to mention you are paying for that in addition so in the end you are getting even less return


I dont really like the renters either but maybe WE all should have read the terms a bit better-maybe DVC is not for US. It clearly lists is the terms lessee's, friends, guests, etc


".....Use of the Vacation Homes and related facilities of a DVC Resort is limited solely to the personal use of Club Members, their guests, invitees, exchangers and lessees and for recreational use by corporations or other similar business entities owning Ownership Interests while staying as a registered guest at a DVC Resort...."

 

[Disney Doll]

I have never been a renter or a rentee of points. I have been waitlisted a couple of times, but more because I wanted a popular resort at a popular time of the year (BWV during the Food & Wine Festival). I did get my waitlist close to when I was supposed to be leaving for the trip, so I cancelled my OKW reservation at that time.

We generally plan fairly far in advance, but even when I have planned 3 weeks out, I have gotten a DVC reservation....usually it is at OKW or SSR, but I have gotten a unit.

 

[disneynutz]

I have never been a renter or a rentee of points. I have been waitlisted a couple of times, but more because I wanted a popular resort at a popular time of the year (BWV during the Food & Wine Festival). I did get my waitlist close to when I was supposed to be leaving for the trip, so I cancelled my OKW reservation at that time.

We generally plan fairly far in advance, but even when I have planned 3 weeks out, I have gotten a DVC reservation....usually it is at OKW or SSR, but I have gotten a unit.

Bragger