Need advice on point transfers....

[hygienejean]

Hi everyone.

I am a new DVC member. However, I have rented points three times in the past...before I bought my BWV resale.

I am planning a large trip with extended family. Don't ask me why I opened my big mouth and offered to find DVC rooms to rent. I need to either rent or transfer a large amount of points to my account.

Like I said before I have rented points before so I am familiar with that territory. I know there is a usually a contract, and although each owner has their own terms, I have found that most owners like a down payment when the ressie is made (and the receipt from DVC is sent to the renter) and the rest of their money at some point before the 30 day mark.

Now a transfer....Is there a contract? When is the money sent to the person who is transferring their points to me? I have read about the "3 way call" but is this done after the $ has changed hands. I am feeling that this is more risky than plain old renting!

Now as I peruse the R/T board I am seeing many folks that have 10 posts or less and they are posting that they have points to rent or transfer. Some state that they would like to transfer only. Why is this? Less hassle for the owner of the points? It sends me a red flag when I see transfer only b/c I envision that it could be a scam. IE: I send $ and the person doesn't really own the points.....

What do you all think? Please give me some advice regarding transfers to put my mind at ease. I really do want to do this but there is a little voice inside my head telling me to think twice.....

Thank you so much for your help!

 

[dianeschlicht]

I think the reason folks on the rent trade board prefer transfers is because there is supposedly less risk. Not sure if that is true or not. At any rate, I wanted to point out that you can only have ONE transfer in or out of your contract in a given year. So, that means you would have to find an owner who has enough points to transfer, or you will be stuck renting each individual ressie. I would NOT do this for the others, but would put them in contct with the renter and let them make their own deal with money etc. It might help that you, as an owner, are refering them. That will put the person renting the points out at ease a bit.

 

[childsplay]

Hi everyone.
Some state that they would like to transfer only. Why is this? Less hassle for the owner of the points?

I can only speak for myself, but that is exactly the reason to transfer and not rent, it is one transaction and requires the least amount of work on my part. No fiddly-farting around with checking on dates, rechecking other dates, adding the dining plan, having the person cancell and want a refund, possible liability for damage to the room, or whatever else might come up.
With transfering it's one call, dunp the points and forget it, what happens to them after that is out of my hands.

I have only transfered twice in 8 years of ownership and I would consider renting at some point if the circumstances where right, but honestly we use our points almost every year.

 

[CarolMN]

...(snip)....I am planning a large trip with extended family. Don't ask me why I opened my big mouth and offered to find DVC rooms to rent. I need to either rent or transfer a large amount of points to my account. ......(snip).....What do you all think? Please give me some advice regarding transfers to put my mind at ease. I really do want to do this but there is a little voice inside my head telling me to think twice.....

Thank you so much for your help!

Listen to the little voice - it is very wise!

We have read many, many "horror" stories here from members who were doing what you propose and ended up "holding the Bag" (so to speak) when family and friends backed out of the transactions.

My advice is to go back to the family and tell them that you wont be able to do this for them because of the DVC rules (and that's the truth. It will be very hard to find one member willing and able to transfer you a large number of points).

If you are willing to be everyone's TA, rent individual reservations for your family - you can rent as many reservations from as many members as you can arrange. No limits on those. Explain up front VERY CLEARLY that the reservations are non-refundable.

Get the money up front unless you are willing to pay for everyone's lodging.

Get the money up front unless you are willing to pay for everyone's lodging. (Repeated because it is very important, LOL).

Sorry to be a bit of a downer - just don't want to see another owner who gets let down by family / friends. It's not right that you end up holding the bag financially for doing a good deed (even if the family have a good reason for cancelling on you and of course they always do).

Good luck!

 

[Deb & Bill]

Reminder: If you transfer points into your account, they need to be BWV points if you intend to use them at 11 months for reservations at BWV. Any of your points you need to use also will need to be BWV points for the 11 month advantage. (Saw your post on the R/T Board).

 

[lizziepooh]

Since transferred points now retain their original use year as well as home resort, you would need to find someone who had a large number of BWV points as well as a use year that would work for your trip dates. Renters want their money up front before they will transfer points to your account, so you would be sending a large chunk of money on trust. Personally, I would have family make their own arrangements so you don't get caught in the middle. Good luck with whatever you decide.

 

[hygienejean]

Thanks for the info and advice everyone.....I am weighing all the pros and cons. I am leaning toward no transfer but not for sure....

 

[Dean]

Since transferred points now retain their original use year as well as home resort, you would need to find someone who had a large number of BWV points as well as a use year that would work for your trip dates. Renters want their money up front before they will transfer points to your account, so you would be sending a large chunk of money on trust. Personally, I would have family make their own arrangements so you don't get caught in the middle. Good luck with whatever you decide.

I now we've seen a ton of people who were told this, they were prior to the change this past July as well, have we seen a single instance of a transfer and what happened after that. Until I see several posts from different people that did transfers and found the party line held up, I won't believe it.

 

[hematite153]

I now we've seen a ton of people who were told this, they were prior to the change this past July as well, have we seen a single instance of a transfer and what happened after that. Until I see several posts from different people that did transfers and found the party line held up, I won't believe it.

We transfered a large number of points into our account to book a family reunion for next year. When I went to book at 11 months (at SSR) I had to wait while they verified the home resort of the transfered points.

(Didn't think it was necessary to post my experience because I had read other posts on this line. But, if it won't be believed until several people have posted it I'd be remiss in not sharing my experience.)

OP--when planning for the whole family we were only willing to consider transfers. By transferring points to our account we knew that we would be in control of the reservation all the way along. We used a contract and we worried for the few days while the transfer was in progress--the manual transfer process took longer than MS had said it would--but this is a lot less worry than if we'd rented and lost contact with the rentor later. However, as others have indicated make sure your family really wants it and get them to pay up-front.

 

[Dean]

We transfered a large number of points into our account to book a family reunion for next year. When I went to book at 11 months (at SSR) I had to wait while they verified the home resort of the transfered points.

(Didn't think it was necessary to post my experience because I had read other posts on this line. But, if it won't be believed until several people have posted it I'd be remiss in not sharing my experience.)

OP--when planning for the whole family we were only willing to consider transfers. By transferring points to our account we knew that we would be in control of the reservation all the way along. We used a contract and we worried for the few days while the transfer was in progress--the manual transfer process took longer than MS had said it would--but this is a lot less worry than if we'd rented and lost contact with the rentor later. However, as others have indicated make sure your family really wants it and get them to pay up-front.

That's the first post I recall of it actually happening, I know of at least 3 instances after the change in July that was a different experience than yours. Personally I hope they do enforce it but one thing I've learned with timeshares in general and esp. DVC, one instance does not necessarily mean anything.

Was the home resort of all points SSR?