May have points to rent???

[browniemtb]

May have points to rent??Questions

--------------------------------------------------------------------------------
Re-posted this from the renters thread by suggestion..

I've been a DVC member for 24 hours now. Bought into BWV 310 points. My use year is August to July.....so with this contract I have 310 points to use by July 31st or bank them by January 31st, or at least 50% by at least April I think.
Our family is already gone for some of June so we may not be able to use all the points. I also do not need 620 points on August 1st.
My questions are how do DVC owners rent there points. Correct me if I'm wrong
1. Check availability for the renters request.
2. Book the reservation using my account number but the renters name and information.
3. Payment....
4. I'm assuming that all conformations will come to me so I would forward them onto the renters.
5. Complete??
How do most gain payment?? The only thing that scares me are cancellations where my points go into that holding account which have to be used by year use year end..
Brownie

 

[calypso*a*go-go]

Looks like you've got it down! You can avoid the "holding account" issue by having your standard rental terms not allow any refunds w/cancellations less than 30 days out. Your renters may still cancel but you wouldn't be out the money if you couldn't re-rent the points in the time allowed.

 

[ErinC]

Another thought for you, my first time on the rent trade board, I looked for another member that needed points transferred. (or you can start out advertising yours for transfer only). I saw another member that was looking for transferred points, she sent me a check, I transferred the points and it was over with. No fooling with checking on reservations for someone else, worrying that they don't understand how DVC works, and worrying that they may cancel on you at the last minute. I still got $10 a point just like most that rent, but a lot less hassle for me.

 

[browniemtb]

So is transferring just calling in DVC membership and saying I wish to transfer, say 100 points from my # to another members number #?? Does the transfer usually take place after money has been dealt with? Which would make sense.
Brownie

 

[JimMIA]

I also do not need 620 points on August 1st.

Keep in mind that, if you decide to bank your 310 points, you don't have to use all 620 next use year. You only have to use the 310 banked points. You will still be able to bank 100% of your new points, so you can effectively carry forward a whole year's worth of points year after year.

Also, the ideal time to rent points is early in your use year, not when you are right upon your 100% banking deadline and approaching your other deadlines. Just about anyone wanting to rent points is probably looking for a rental several months in the future and that will put you past the 100% deadline and very close to the 50% and 25% deadlines. The obvious issue there is, if they cancel on you after your banking deadlines, you will have "use or lose" points.

You may want to consider banking all of the points you do not anticipate using before July 31, and then -- if you think you have too many -- rent banked points early next use year. That may be a much safer way to rent.

Two other situations to avoid like the plague are borrowing points to rent, and using DVC points for non-DVC reservations for a renter (i.e. GF, Poly, etc). If you borrow points for a rental, they are stuck in that use year -- you can't "un-borrow" them back to their original use year if there is a problem with the rental. If you make a reservation at a non-DVC resort for a renter, and they cancel, your points have now become "Reservation Points"...which means they have to be used outside DVC. They can't be used at a DVC resort.

 

[ErinC]

So is transferring just calling in DVC membership and saying I wish to transfer, say 100 points from my # to another members number #?? Does the transfer usually take place after money has been dealt with? Which would make sense.
Brownie

THe member that I dealt with had transferred points before. She faxed me a contract, we both signed and then I called MS and transferred the points to her account (of course she had to give me her info). She overnighted the check. I felt comfortable with her, we talked on the phone, and she had been posting on this board for a while. There is a some level of trust, since I did put the points in her account before I actually recieved the check. She did fax me a tracking # for the check. Like I said though, 2 days, I had my money and she had her points. You cannot transfer banked or borrowed points though, only current year, so keep that in mind if you are thinking about banking them. Good luck!