nervous about renting points

[rlb]

I have never rented points before, but was considering it for our next trip. I have a few questions, if anyone out there can help me. How do you know for sure that someone is actually a DVC member and makes the reservations for you? Also, isn't is possible for that person to cancel the reservation after it has been made? Is there any way to check on a persons history of renting DVC points? Also, I hear it is now possible to get the dining plan when using points. How is this booked? Would I need to send the money for that and park tickets to the person I was renting points from also? I know I have lots of questions. Any help would be appreciated!

 

[Tinkerbell_Girl]

I am also wondering this too.

 

[greenban]

These are very valid and scary questions. I'm sure our uber-experts will chime in, but until then here is my take.

1) The DVC Owner can cancel you reservation at anytime prior to your arrival. That is the risk you take, and why the rates are so reduced compared to Disney.com. But know these facts. If the reservation is cancelled more than 31 days before your arrival, the member is free to do pretty much as he/she wants, as the points are returned to their current use year. Between 1 & 30 days, the points go into a holding account, which really diminsihes the 'value' of these points along with their usability. At the time of arrival, if ressie is cancelled or shortened the affected points are lost. This is why most renters have a 60 day before vacation final payment policy.

2) You can check you reservation once it has been changed to your name and you have the confirmation # by calling Member Services (I can't post the 800 # here). You may make or modify your own DME and DVC-DP options directly with MS.

3) If a deal seems to good to be true it probably is! However, hear on the DIS, if you rent from a User with hundreds or thousands of posts, if you ask for and contact prior renters of this User, and check out their eBay rating, you should do very well, and be very safe. And save >50% off Disney's Rack for exceptionally great digs!

Ask questions, read prior posts, get comfortable, and actually contact prior renters and you should do fine.

The only 'horror' stories that I have read here on the DIS are DVC owners who go burnt by their renters!

Hope this helps,

-Tony

ETA: As noted you can make your own DME directly and order the Dinning Plan which must be paid at time of arrival, and must be ordered or cancelled at least one day prior to arrival. Everyone in the room must purchase it for the entire length of stay!

Also I used to buy tickets over at mousesavers.com, they have links to discount sources (very reliable)

 

[spiceycat]

DVC members can't start the dinning until April. So I don't know what the rules will be. I am hopping they won't even require tickets - because lots of DVC members have an annual pass (got a discount).

You would not pay the person you are renting from either the dinning nor tickets.

if dinning is added you will pay the resort itself when you come.

If you are worried about these things get a contract and ask for references.

Nothing is guaranteed. but I think most people who post here are honest folks. You can read their posts and decide if that is a person who you could deal with easily.

be sure you read Doc's FAQ at the top of the DVC rental/trade before you post.

 

[katallo]

You have very good questions. I can only tell you my experience. This is our first time renting points. We always wanted to try the DVC to see if we liked it. I posted my request and received many responses. I'm sure all were good but since I was new, I researched how long the person has been a member of DIS and if they had rented points in the past. I simply felt more comfortable going with someone who offered to help me through the process, explain the payment schedule (a contract is a good idea) and had references. I decided on someone whose points were actually a little higher than the rest but for some reason felt that comfort level. We are going in April and I can honestly say that I never had a fear of a cancellation or a problem. She has stayed in touch and answered all of my questions. I hope this helps but I tend to agree that renters may pose more of a cancellation risk. Good luck.

 

[Plutofan]

When ever you rent points the renter and seller should sign a contract outlining all of the details. It is true that the person could cancel the reservations. The person with the points is also at risk. If you cancel to close to the end of their use year or to close to the reservation time those returned points have a lot of restrictions which may make them of little value to the seller. Also the seller may be held liable if the renter causes damages to the room. The bottom line is that there needs to be trust at both ends with a contract stating all the terms.

 

[PinkTink63]

The previous poster is correct. There has to be trust for both parties.
The first time I rented DVC was actually on ebay, but now I would go through the rent/trade.
We loved it so much after our stay this past summer, we bought in Oct. I already rented out my 2005 pts. One renter paid me half up front and the other half after receiving the written confirmation. The other is paying me in full after receiving written confirmation.
You can call and check on your ressie anytime. You can check ebay feedback, if they have it. That is what I suggested for one of my renters, because this is obviously the first time renting out my points.
You have to take into consideration, people who own DVC have spent a lot of money for it. I for one, did not spend that much, to lose it, because I cheated someone out of their money. We sign contracts that have to be followed. If people are renting to steal, Disney would find out!
You have to to what you feel comfortable with. When I rented for the first time, I felt very comfortable. The communication was good and I didn't even sign a contract.
Stephanie

 

[byoung]

Watch out renting will get you hooked. I did and now I own at BWV and love it.

 

[Lizardbeth61]

on the DIS boards and had a GREAT experience. It made me a little nervous because obviously we knew nothing about each other. What made it worse was that he told me he was in the process of finalizing his membership . . . so I wondered why he was renting points only a few weeks before he could use his own. He said they didn't want to wait??? Still can't figure that one out.

However, we agreed upon a price per point. I called to see what reservations I could get for him and then emailed that info. He liked it so I reserved it. I waited for his check and waited some more until it cleared at the bank. At that point I had the written confirmation from DVC and emailed it to him so he could see it and then mailed it snail mail so he had it for check in. I figured if the check didn't clear, I could cancel the ressie, but all was well.

He even sent me pictures of their happy little family . . . pictures that were amazing I might add.

I'd risk it again, but trust is involved.

 

[Kevin&Randall]

This was my first year renting out our points. We just weren't going to use them this year. This whole process does require a certain amount of trust on both sides. Make sure that the person you rent from outlines everything up front.

How much per point? -- going rate is +/- $10 per point.
What are the payment terms? -- I ask for 50% upon creation of the reservaton and the balance 45 days prior to check in.
Make sure there is a "rental agreement" between both sides -- this outlines what the DVC Member must do, what the Renter must do and what happens if cancellations or (heaven forbid) something really bad happens.
Make sure you get the DVC confirmation slip -- I send the rental agreement and confirmation slip out once I get the deposit.

I would hope those I have rented to would state I have been a good DVC Owner and provided a quality experience. I think most on the board are trustworthy and only want to extend our points to those who could use them. We all would find out pretty quick if someone was "playing the system" and causing heartache for others.

Randall

 

[mickeyc]

It is my understanding you can check Orange County Records. Com to determine if a person does own DVC. Their ownership is recorded with the county.

When I rent I send the renter a simple contract along with the reservation. The renter can check their reservation with member services using the reservation number. I require half payment when the reservation is made and the balance when they receive confirmation. I also send them the brochure for the travel insurance.

I do make every effort to assis the renter in obtaining the accomdations they request. Most renters do have some flexiblity. I do agree that their is trust on both sides of the transaction. However, the renter in my opinion is taking the greater risk.

Good luck and enjoy.

 

[PBader]

I have only rented points one time to someone. It was a little scary at first, but we emailed and talked a couple of times. I had to borrow my OKW points to make his GV OKW ressie. But was happy to do it. We are planning a Hawaii trip that we are using that cash for. I was paid for the entire rental before I finished making his day by day ressie. I also emailed his confirmation once it arrived and then sent it off in the mail to him. He had rented before and knew what he wanted and I was glad that I could hep him. I know I would definetly rent points again if I needed to. It does involve trust on both sides. I just believe that most people are honest good people.
Paula

 

[mom2alix]

DVC members can't start the dinning until April. So I don't know what the rules will be. I am hopping they won't even require tickets - because lots of DVC members have an annual pass (got a discount)..

I've already booked this for our May trip so I can help a little with this info. They don't require tickets, they just add the DP to the DVC reservation. This must be done at least 48 hours prior to arrival.

You would not pay the person you are renting from either the dinning nor tickets if dinning is added you will pay the resort itself when you come..)..

That's right. You pay for the DP when you check in. Member Services will tell you the total when the add it to the reservation, so you'll know what to expect.

There are many places to purchase tickets. You might check out the Budget Board on this site for great hints to save money there. Hope this helps!

 

[cruisinpan55]

We needed 82 points to get an extra room for our trip to VWL. I was not sure about renting and decided to do it. I ended up finding a member in my home town through a post for points. We had a few conversations through email and over the phone. I ended up going to his work and we did the transaction right there. I was very lucky meeting him and it made things a-lot easier. You can look at posts by the person and sometimes you can get a feeling just by reading them. Good luck.

Nate

 

[nestlejean]

I have rented out points twice, once was last minute and I rented for a transfer once. We didn't have contracts any of the 3 times. There was no problem. I made the ressie and they sent the money after I sent the confirmation. For the transfer, after I received the check,I made the transfer. It all is a matter of trusting a stranger though. I would see how long they have been DIS members and read some of their other posts. You should also get the phone number and can talk to them and you will maybe feel more comfortable then.

 

[kelsco99]

Thanks rlb for this post. This is something I have been considering also. The responses you have gotten will ease the minds of many "renters" including mine if I go in this direction.

Kelly

 

[RobDoc]

I would certainly advise looking at the posts made by the member to get an idea "who" they are. If they don't have a lot of posts (or even if they do) you should request references (and check them out) before entering into any agreement with them.

While the member does have the ability to cancel the reservation (right up until you check in at the resort) we have never had a complaint where that happened thru this site.

You can call the resort directly to verify the reservation - just have your reservation number handy. There is no need to contact Member Services directly.

No advance payment is required for the Dining Plan, but it must be arranged in advance. You will pay for it at check-in.

The rental process does require some trust from both sides. I'd suggest a contract detailing all components of the transaction and make sure you have an address and phone number from the member.

Enjoy!