New to this whole thing.

[Epcot242]

Hello! I just recently heard of the whole idea of renting points and I think it's great. I have a few questions for the experienced DVC members here though about this whole concept and if I could get any answers that woud be great.
1.) How acurate is the point calculator at the Timeshare store?
2.) Is the price you pay for the points, let's say 55 points at $10 a point equalling $550, the total price? Or do you pay an extra fee for using the points, or is a tax added to the total price?
3.) I don't want to come off as skeptical with this next question but how would the person renting points *know* that they're guaranteed a room for the price they paid? Not that I think that anyone on this board would really think to scam someone, but I have to admit that I'd be at least a little bit hesitant about plunking down that $550 to a virtual stranger.
4.) The "contract" that I hear about, is this a physical picece of paper that one would sign? Or is it a phone call or some sort of e-mail?

I'm sorry for the list, but I just want to get my bearings before I dive into this whole thing. Thanks guys!

 

[popsmensahbonsu]

You might get better responses on the rent/trade board but then again questions might not be allowed over there (I'm new at this). That $10/pp is a total cost, no taxes or anything else. There is a trust factor involved with renting. I've rented 3 times to check out the DVC Resorts before I bought in at BCV. I paid cash for the others. I wish I knew there where members willing to let there points go for $10 bucks before my CRO ressies. Those CRO rates are high. $10 is a steal. The contract would be drawn up by the point holder. Some want 50% up front with the rest 30 days prior to your stay, others have different terms. Once a deposit is made the point holder will make the ressie for you in your name. They will then either mail or fax you a copy of this reservation. You can call to check this ressie periodically if you are nervous. Hope this helps a little.

 

[JimC]

Hey Mike. Wlecome

You came to the right place.

Here is a thread you should read titled Effective DVC Point Rental Agreements

As the first responder indicated, there is a certain amount of trust that is involved. The price you pay includes all resort taxes. There may be additional fees if you request a reservation outside of the DVC resorts; but those would normally be the member passing through a charge they must pay.

One thing to do is search on the DIS for posts by the person you would rent from. See how often they post, what they say, how long have they been a member. See if people rely on their posts for advice. It is pretty easy to determine after some reading who the regulars are. Also you can always ask for references. Remember that you are as much a stranger to them as they to you

 

[Muushka]

4.) The "contract" that I hear about, is this a physical picece of paper that one would sign? Or is it a phone call or some sort of e-mail?

For us, it was an actual piece of paper that we both signed. I kept the original and sent the copy (with both signatures) to the renter.