Issue with DVC Owners...

[crisi]

My understanding is that there are a lot of people looking to rent points who think they are at the market in Cozumel. They want to bargain you down. They'll do it by telling you "everyone" is offering their points for $10 (well, then contact them), they got a great deal last year for $8 (good for you), or that "they can't possibly afford Disney if you charge them $12" (well, sounds like you'd be better off saving that money). Veteran owner/landlords seem to not even reply to these people.

On the other hand there are lots of benefits to offering points at a low rate - if I have points that need to be rented under "distressed" circumstances (late in my use year) the idea is to get rid of them. Or if I just want the whole transaction done TODAY and don't really care if I get an extra $20 for my 100 points. Since they are my points, I get to decide if I want to use them, give them to a friend, rent them for $8 or rent them for $15 - but I might not have a lot of luck renting them on this board if I set my price uncompetitively high.

Keep in mind that people rent their points for different reasons and someone who bought in at $63 has a different cost basis than someone who just bought within the last year.

 

[TisBit]

Actually, that would be one of my fears -- that the person who rented from me would somehow cause a problem with the room and I would get stuck with the cost. I wouldn't blame Disney for expecting me to be the responsible person if it were, indeed, my points that I rented.

That is why I think it's best to transfer points. That way they are no longer mine, they are someone else's. (Though I never transfer out -- I'm always looking to get someone else to transfer in to me.)

Along the same lines, I am surprised that people that rent charge the same as the transfer. Truth is, as you stated, transfering points is a lot less liability on you and even the person receiving doesn't have to depend on you. I think transfers should be in the $8-10 range and renting should be in the 11-13 range. I don't see enough benefit in renting points to a stranger and would rather give them away or rent them to a friend for a great deal.

There are too many posts about renters that are jumping in and not understanding. It seems that it is a pretty time consuming process and even if the rental goes off, there are a number of people that have to spend hours with their rentees explaining it, answering questions, reassuring, etc. If I compare that time to my hourly rate at work, I dont' see $10 recouping my investment, MF's and time spent.....JMO

 

[RLRDA]

There are too many posts about renters that are jumping in and not understanding. It seems that it is a pretty time consuming process and even if the rental goes off, there are a number of people that have to spend hours with their rentees explaining it, answering questions, reassuring, etc. If I compare that time to my hourly rate at work, I dont' see $10 recouping my investment, MF's and time spent.....JMO

I agree with this 100%.....let me say first that we don't own enough points to have any left over to rent !! I know there are unforseen instances where it's "use (rent) them or lose them" but if that were ever our case, we'd rather let family or friends enjoy them before going through the hassle of renting. "Hassle" is entirely my perception from what I've read on these boards. I know there are renting transactions that go smoothly but I'm not willing to roll the dice with my time hoping that mine will.

 

[PhantomBlot]

Mermaidlove -

Free Markets Rule!

If you don't like how free markets work perhaps you could consider buying a timeshare in Cuba.

BTW - I'm not a lawyer (or an economist) but in business circles an attempt to get sellers to agree on a price would be considered collusion and would be illegal

 

[dcamdad]

I find this whole thread confusing from the OP's point of view. First the OP comes on here complaining the rental cost is to low. Then comes back and says its basically not worth the risk or time, than the OP changes their mind again and will wait a few days or weeks depending on response to this thread. Or are you just waiting for a renter to pay you more so it will be worth your time and effort?

If your really not interested in renting your points for profit why all the fuss?

 

[Chuck S]

There are a lot of reasons rental prices vary. For instance, I bought at $51 per point, OKW dues are less than $5pp so if I rented at $10, I'd be OK with that. If I had points expiring, even $8 would be OK.

That being said, I do not rent, I don't want the hassle, and I'd rather give points away if friends or family can use them.

Whatever price you set for your points, you as the owners always have the right to say "No." if someone offers you a price you personally consider too low. While there is a certain amount of price setting by the "market", ultimately it is up to the owner and renter to reach an agreement that satisfies both of them.

 

[magicaldisney]

Sorry if this topic--striked a nerve specially to the person who place the first reply. I guess even if this is a board (forum) some views apparently cant be posted!!! My post clearly quotes at the end that if someone had a dif. view to please teach me to understand it!!!! Not make me feel as if I should never post my ? and views

You want to state your view, please allow others to do the same. Not everyone will agree or disagree with you, but you opened the discussion up and will surely not see everyone sharing your same view. No one intends anything personally, just their opinions. Share the Love!!

 

[jodifla]

OP, this is often asked, and I always answer: Because renting points from a DVC member is RISKY!

And when people take on risk, they want to be getting a deal. That's why points rent for less than what you could get from Disney direct.

(And sure, there are the bargain seekers who feel everything is let's make a deal. And you can just ignore them. But there are also people set to lose their points within 30 days...so for them, $8 apoint is far preferable to 0.)

 

[wildernessDad]

I have never rented my points. Perhaps people get caught up in the DVC thing and buy more points than they really need and have to rent to cover themselves.

I am not for the commercial renting of points.

As to the price, I think that $10 per point is too low. But if I were ever to rent, I'd probably rent to a coworker and do it at $10 per point. My friends and family get to go for free when I have points available for it. But I don't just give them the points. They'd be going with us.

 

[Deb & Bill]

OP, this is often asked, and I always answer: Because renting points from a DVC member is RISKY!...

This is the one that I don't get. There are lots of people who will make a reservation on Priceline or Hotwire and don't think that is much of a risk as long as they don't set their price too low. Why does the non-member always have to be the one who is taking all the risk? I'm with the OP and others who say the member is taking on a bunch of risk as well.

That said, I don't rent points out. I'll give them to family, friends and co-workers first. And if those people want to give me something for it, that's fine. But I'm not going to deal with complete strangers, especially those who want a bargain and keep trying to get their money's worth out of me.

 

[HolidayRoad]

I've been lurking on this thread since this morning, it's a little unnerving like driving past a car wreck, you don't want to look but you do anyway. I have a quick question in regards to "the risk factor" that was brought up. Lets say you do rent out your points and the person who you rent to trashes the room, to what extent are you responsible for their actions? I'm new to this whole DVC thing I am buying resale and barely out of ROFR and haven't closed yet so as you can probably imagine at this time I have no intention to rent out my points but as was said earlier, never say never.

 

[dcamdad]

I've been lurking on this thread since this morning, it's a little unnerving like driving past a car wreck, you don't want to look but you do anyway. I have a quick question in regards to "the risk factor" that was brought up. Lets say you do rent out your points and the person who you rent to trashes the room, to what extent are you responsible for their actions? I'm new to this whole DVC thing I am buying resale and barely out of ROFR and haven't closed yet so as you can probably imagine at this time I have no intention to rent out my points but as was said earlier, never say never.

Not really sure, but I am thinking DVC could (and probably would if there is extensive damage) send you the repair bill for any and all repairs since you as owner are responsible for who uses your points. When the no smoking policy went into effect (which I am all for and wish they would enforce) there was a notice that if the room had to be cleaned due to smoking that you were responsible for all costs including carpet and furniture replacement.

 

[HolidayRoad]

Not really sure, but I am thinking DVC could (and probably would if there is extensive damage) send you the repair bill for any and all repairs since you as owner are responsible for who uses your points. When the no smoking policy went into effect (which I am all for and wish they would enforce) there was a notice that if the room had to be cleaned due to smoking that you were responsible for all costs including carpet and furniture replacement.

Thanks, I didn't know if there was something in the contract saying such. When you say they don't enforce the smoking policy, I can't stand the smell of old stale cigarette smoke. Is this an issue with a lot of rooms?

 

[dcamdad]

Thanks, I didn't know if there was something in the contract saying such. When you say they don't enforce the smoking policy, I can't stand the smell of old stale cigarette smoke. Is this an issue with a lot of rooms?

Our last stay @OKW in December was after the NS policy went into effect and you could not smell smoke, but I know for a fact I watched others walk in their villas with lit cigs. As far as smoke smell before that I really couldn't say as I just quit myself July of 2007. Funny how nasty it smells to me now. I can tell when my employees get off their cig break.

 

[Harmonysmomma]

I am trying to become a (gasp) renter...not sure if the stars will align perfectly and it actually work out or not... lol but i do want to say I am glad that I read this thread..it shines a bit of light on the other side, as I was just seeing it from ther persective renters side. Thanks for this post

 

[Chuck S]

A reminder that smoking discussions are not permitted on the DVC boards.

Thanks.

 

[dcamdad]

A reminder that smoking discussions are not permitted on the DVC boards.

Thanks.

Sorry, stayed a little from possible damage to a unit.

 

[Melrosgirl]

If points were "worth" $12 a point, then people could get $12 per point. If no one is biting on $12 a point, it's bc no one wants to pay it. I think it's "worth" it, but I'm an owner, LOL. I think they are worth $80 a point

 

[HolidayRoad]

A reminder that smoking discussions are not permitted on the DVC boards.

Thanks.

I apologize, I was unaware of the policy it will not happen again.

 

[senecabeach]

Here is my view. if I owned a timeshare and I couldn't use the points and my attitude was that I would rather let the points expire than have someone take advantage of me, then I would be seriously considering why I was willing to pay membership dues each year on a product I was not using and that was causing me so much unhappiness.

There are so many ways to use up DVC points that I could never see a time when my family couldn't think of something to do with them - even if we gave them away to friends or made a reservation for a DIS friend - rather than see them go to waste. It would never occur to me to make the amount of money I could get by renting them the most important part of my ownership.

I think we must be very far apart on how we view DVC, how we use it, and what benefit we feel it gives us.

ditto that thought process..