Negatives and your expirence with renting your points to good friends.

[epd0407]

We are slated to close on ours at the end of Feb early March and I had like two weeks to rent out some points. I talked to a good friend of mine who wants them. I have always been weary about entering into a business agreement with friends and dont like the idea now. What are you expirenced renters thoughts and dealings with this? Should I or should I stick to strangers?

 

[bobbiwoz]

We don't rent, but I know that if we would, it would only be to good friends! Why are you hesitant? You are mentioning a Good friend.

Bobbi

 

[mama03]

Well, to save you stress and your friend stress. Let them know that you would love to rent them your points, you just have a few concerns. Write down your concerns so that you dont forget any of them. My first would be to explain that they cannot cancel their trip last minute, due to the fact they will not get their money back and you will most likely lose your points. I also would ask that they not be able to charge on the room cards. I am sure it will go smoothly as long as both parties know what to expect.

 

[jlewisinsyr]

I also would ask that they not be able to charge on the room cards.

You can ask your renter not to use room-charge feature, but there is ZERO way to prevent them.

 

[bobbiwoz]

You can ask your renter not to use room-charge feature, but there is ZERO way to prevent them.

but wouldn't a good friend listen?

 

[disneydenisel]

I am renting points from a good friend for this year , so I hope she is happy with the transaction . I am paying her the going rate for points, or else swapping for the use of my points for a future stay of hers.

I would think that if these friends of yours are really good friends, that it will work out just fine. But write down everything, and explain everything in detail about your points and cancellations.

 

[crisi]

but wouldn't a good friend listen?

I would think that with a good friend it wouldn't matter. If there were an "error" over the room charges, a good friend would make you whole.

OP, how well do you know and trust your "good friend?" - there are some I wouldn't hesitate to rent points to - they are fair and understand things like "you can't cancel, if you think you might, buy travel insurance because if you cancel, I'll be out money." There are others I'd be chasing down for money or writing off the money for the sake of the friendship. If this is the first sort of good friend, its probably going to be a much smoother deal than renting to a stranger. If its the second, I might just give your "good friend" the points if you can afford them. With good friends it tends to work out in the wash when they help you move, roof, sod, paint, watch your kids, invite you to their in laws cabin, etc........

 

[dcfromva]

I think one of the problems is your friends may not understand the value of your points and the usage rules.
Even if there isn't a monetary consideration, you would not want to lose your points.
You may be willing to let a really good friend go until 31 days prior to the reservation to cancel or reduce the number of day (provided you are still in your banking window and you haven't used banked or borrowed points) --no harm, no foul.

But, what happens if your friend asks you to make a change for fewer nights or totally cancels at 1-30 days prior and you are left with holding points? What if you have banked/borrowed points and the ressie is in the last month of your UY and it puts you in a real bind to use these points before they expire?

What if they have to cancel on the day of the reservation?

 

[ilikedvc]

Friends never think the amount you charge is a deal. I always tell them to call Disney first and find out how much the room would cost if they went directly from Disney. When they find out they never complain again.

 

[epd0407]

Friends never think the amount you charge is a deal. I always tell them to call Disney first and find out how much the room would cost if they went directly from Disney. When they find out they never complain again.

All good info, thanks. I will be certain to get the money upfront (well before) 30 days.

 

[crisi]

All good info, thanks. I will be certain to get the money upfront (well before) 30 days.

60-90 is really good. 90 lets you chase them for a month, then cancel at 60.

If you think that this is likely however, that you'll end up canceling, you need to watch your use year. Unbankable points that have to be used within a few months are hard to rerent.

A lot of people renting to strangers ask for half up front for this reason - non-refundable. The other half 90 days out. That way, at least dues are covered.

 

[Cmbar]

We used a contract with a friend just like we do with strangers. We also asked them to please seek out what they could do on their own so they felt comfortable with what we were charging them. I always explain why we have the contract (to protect both parties) and also explain the use or lose rules of DVC. Especially if you are renting close to your banking or expiration date. We have never had a problem with friends. I prefer friends actually, but I understand your concerns. Now Family, that could be a different matter all together!

 

[2binak]

We have our friends sign a contract, the same contract we use when we've rented to people here on the DIS. We always ask that they cancel before 60 days from the start of their reservation.

 

[jlewisinsyr]

but wouldn't a good friend listen?

I would, but in the moment of checking in, they could forget or not fully understand why they are applying a credit card to their reservation. Sure, in a good friend situation it shouldn't be an issue, but anytime you throw money into the equation, people start to act differently.

 

[epd0407]

I would, but in the moment of checking in, they could forget or not fully understand why they are applying a credit card to their reservation. Sure, in a good friend situation it shouldn't be an issue, but anytime you throw money into the equation, people start to act differently.

If they apply their CC at check in the charges should just come off their card. Why is this bad for me? "curiosity"

 

[bobbiwoz]

If they apply their CC at check in the charges should just come off their card. Why is this bad for me? "curiosity"

The one or two bad cases that have been described in this forum has to do with the owner of the credit card not paying the bill....the bill then is the owner's responsibility. That is why some here mention not wanting the renter to give a credit card at check in, but there is no way that Disney would put that restriction on a guest checking in.

Bobbi

PS. If I were to rent to a good friend, I am sure that any credit card problem would be successfully resolved. I don't rent, but I've brought friends who've had their own villa and never ever has there been a problem with unpaid credit card bills!

 

[Sandisw]

If they apply their CC at check in the charges should just come off their card. Why is this bad for me? "curiosity"

As the owner of the points, you are responsible for everything that your renter does, including room damage and room charges.

So, if you something happened and there is an unpaid bill, DVC freezes your account until you get your renter to settle their debt with Disney.

But, in many cases, the owner ends up having to pay the bill because finding and getting their renters to settle the bill is difficult and takes time. And, until it is settled, the owner can not use their membership.