New Dvc Member - Help!!!

jacalynt

Earning My Ears
Joined
Sep 3, 2004
Messages
54
:confused:

Help !

I am a brand new DVC member. When I purchased my resale for OKW I purchased 250 points. Along with the resale I also have 250 banked points from 2003 and 250 points for 2004. My use year is October. I was hoping to rent the existing 500 points to pay back some of the loan. My question is what steps do I need to take to rent the first 250 points that are banked? I think it would be wise to do that first and then worry about selling the October 2004 points. Do I need to make reservations? I also read somewhere that people offer contracts to their renters. Is that something I would have to do on my own? What sort of contract are they talking about? Any suggestions would be greatly appreciated. I would love to keep all the points but my hubby would only agree to purchase the DVC timeshare if we sold back the first 500 points. Thanks for any help anyone has for me.

Confused Member
Jackie
 
When you rent points, you assume a large burden. Remember the points will ALWAYS remain in your name and under your controls. Non members normally cannot communicate with DVC in any way, shape or form.

That said, put yourself in the place of a non-member wanting to rent points, and think about the concerns you might have. You'd be sending hundreds or thousands of dollars to a total stranger, all the while knowing that the stranger COULD cancel your vacation and disappear into the night.

Here is a brief list of what you will have to do:

1. Find a renter. Either post that you have points available or look for someone requesting points.

2. Confirm availability at the renter's choice of resort / dates / room size. This can be a tedious process. Depending upon how knowledgable the renter is of DVC, you may have to do a lot of hand-holding. To be blunt, the fact that you are a bit new to the system won't help a whole lot.

3. Arrange payment. Remember this is YOUR rental agreement. Every one is different. You need to decide your own terms (when payment is due...what happens if renter defaults...what happens if renter needs to cancel, etc.)

A written agreement is VERY wise. Many renters do not realize that DVC points have greater restrictions than a standard hotel booking while can be cancelled on short notice. Once you reach a point 31 days prior to check-in, the points are committed and you stand to lose a lot if you offer the renter any room to back out. You'll need to set your own terms on cancellations up-front. Again, unless you have a complete understanding of the system, it could hamper you along the way.

4. Just realize that, worst case, you may have to deal with uncommunicative renters. You may be forced to make a decision to either cancel a booking or risk losing your points (technically they would go into holding) if payment is late in arriving.

Some rentals go very smooth. Others can be a real headache.

The smoothest way to rent points would a transfer to an existing member.
 
From what I have learned on this board it appears that a value of about $10 per point is what is reasonable when renting or selling points. As the previous poster mentioned you really need to get acquainted with how the DVC system works. If you don't have a 2005-2006 Vacation Planner you should get one from a Disney Vacation Guide. The Vacation Planner will allow you to calculate how many points are required to provide a point renter with the type of vacation they want. Call 800-800-9100 and request a guide and ask for complete information on the DVC. If you didn't get anything when you purchased the re-sale you are now a full fledged dues paying member and entitled to whatever gets mailed out to the rest of us. Your 250 points from 2003 will need to be used before Oct 2005. If you gained 250 points on Oct 1, 2004 you can bank 100% of them up to March 31, 2005, 50% until June 30, 2005, 25% up to Sept 30, 2005. After that you use them or lose them.
There are options to extend the life of the points by making a trade through Interval International but it is too complicated (at least for me) to explain quickly. Get the literature on DVC.
 
I am looking to rent 300 points - I to have never done this before.
I am looking to rent in the WLV in October of 2005. If you find out how, please email me and lets try to make a contract. :wave:
 

tjkraz said:
The smoothest way to rent points would a transfer to an existing member.
Can banked points be transferred?

And - how can you have banked points from 2003 <i>AND</i> 2004?
 



















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