Left over points; what are the options?

[FamilyGuy]

We have a June use year and used 48 points of our 160 in June '05. Last month we finally figured we were not going likely to visit again before June '06. So, since we missed the previous banking deadline, we were only able to bank 80 of the remaining 112 points. This leaves 32 ponits for this use year that are not bankable and must be used before May 31st, otherwise they will go to waste.

So the family has put in my hands what will happen with these points...

What are the options? I can rent these to non members and borrow from my next years points to give the renter as many points as they are willing to pay for, correct? IE they want 100 point stay before May 31st, so I rent the points in a non-refundable contract (at a reasonable rate, say $9/point), and borrow the 68 ponts from next yr. This will still leave me with my banked points of 80 which must be use next year, and then in this example 92 points remaining for Jun 06' use year.

Another option would be to transfer the 32 points to another DVC member who can use them (for a cost), but then I would only be able to transfer the 32, and the member would have to use the points by May 31st also? If the member needed more than 32, I would not be able to borrow the points (from '06) for purposes of transferring, right?

I hope I got all that right... are there any other options available to me, other than allowing them to lapse?

TIA for any input.

 

[DVCLiz]

Well, of course, you could still use them yourself. How about a weekend at one of the Concierge Collection properties???? I have always said if I run into that situation, I'm taking a friend to the Grove Park Inn in Asheville for a long weekend!!!!

 

[poohstx]

What are left over points? lol

 

[JimMIA]

I can rent these to non members and borrow from my next years points to give the renter as many points as they are willing to pay for, correct? IE they want 100 point stay before May 31st, so I rent the points in a non-refundable contract (at a reasonable rate, say $9/point), and borrow the 68 ponts from next yr. This will still leave me with my banked points of 80 which must be use next year, and then in this example 92 points remaining for Jun 06' use year.

Your analysis here is correct, but I personally would be very reluctant to a)rent points at $9 [it's just not necessary], and b) borrow points to rent. I know you said you would insist on a "non-refundable" contract, but that's still a risky proposition unless you demand and get full payment up front prior to making the ressie.

Most owners make the ressie once the dates, price, etc. are agreed to, and then expect a deposit when they send the confirmation, with full payment to follow at a later date. In YOUR case, if you do that and the person backs out before paying fully (or even partially), you can't "un-borrow." The points would have been borrowed at the time you made the ressie, and you would not be able to put them back.

I personally would be looking for a transfer to another DVC owner who needs some extra points to complete a ressie. There is a lot less risk in that situation.

Good luck and watch those banking deadlines!

 

[sagwanamu]

What about donating the points? Although I am not sure if it is tax deductible, I am sure it will make you feel good.

Just a thought....

 

[two-foxes]

Well, of course, you could still use them yourself. How about a weekend at one of the Concierge Collection properties???? I have always said if I run into that situation, I'm taking a friend to the Grove Park Inn in Asheville for a long weekend!!!!

We are going to have 68 points left over from our 2005 points that we got from our Feb purchase. I hear the Broadmoor in Colorado Springs calling us for a nice two night stay....

 

[byoung]

Don't just lose them, good luck.

 

[FamilyGuy]

I think it makes the most sense to offer them up for transfer to other members. So whoever they are transferred to must still use them before May 31st, 2006 (we have a June use yr)?

 

[TammyAlphabet]

Yes, that is right, I think, that the person you transfer to has to use them for a reservation that ends prior to the expiration of the points. You should be able to get 10 per point easily and make sure you collect any paypal fees with the transfer. I think it is 3 percent plus 30 cents or something like that. I would do exactly what you are doing. But I am always in point debt!!