Offshoot - Why don't more people rent?

[planning06]

I will quote another from the why more people don't buy thread. These are basically my reservations for buying a DVC.

a) It's a rather steep buy-in price
b) Annual dues are somewhat high
b) DVC ownership expires at the end of your contract ( you don't own it forever )
c) Many people use codes to book their deluxe rooms, which makes a comparison of DVC to deluxe rooms look less attractive
d) Reputation of time shares in general
e) Reservations about the long term health of the economy
f) If Disney burnout occurs, they just don't go for a few years, rather than worry about paying dues on unused points ( or renting )
g) don't want to commit for 40 years to one particular vacation destination, no matter how nuch they like it today

My question now is, for people like me, why don't more of us rent?

I could stay at a BWV studio in September for 85 points for a week. At the normal $10 per point rental rate that would be $850 for a week and $121 + change per night. If I bought an AP and used the current AP discount of $70. The rate for a BW room would be $250 with tax per night. Plus, I would get the microwave, toaster, and wet bar in the studio. This seems like a no-brainer to me.

Does anybody disagree? Why shouldn't I rent points? I can pay the price of a moderate and get a deluxe resort with better amenities.

 

[Chuck S]

I think the "trust factor" plays into peoples reasons to not rent points. Renting through CRO you know up front what your rights/cancellation policies are. Even if these are spelled out in the rental agreement (and they should be) between a DVC owner and renter, your recourse would be to file a lawsuit in small claims against the owner or renter in case the deal went sour.

Many people would rather rent from Disney and know who they are dealing with.

Others may want the dining package that is not available to point rentals (though the difference in price more than makes up for the food for most families.

Other still may simply not know they have the option of renting from a DVC member.

 

[tamu91]

I believe there are at least two reasons why people do not rent points from DVC members.

1) As Chuck S pointed out, trust is a BIG factor especially if you have not rented before. Doing business with another individual takes some getting used to.
2) How many people know about DVC and if you did, how many knows about renting points from DVC members. I for one did not know about DVC before I started looking into buying a timeshare. And it took me another 2 years to find this board and the DVC rental board.

 

[lillasmom]

I have to agree with the above posters. There are not many people who know much about the DVC program, and fewer who know about these boards.

Trust is another big issue. I have seen renters and rentees that have been shorted by a deal. That doesn't make the process easy for anyone.

So many things to think about, and for some buying is the answer, and for other's renting is the answer. Everyone has to do what's best for them.

 

[rbuzzotta]

We are looking at renting a total of 573 pts. beginning June 2006!!

It scares me!! It is mainly a trust thing...............I don't know where to begin to advertise.............most likely locally so that I can meet the person.

 

[k_k_100]

Coming from a very happy renter most people don't plan far enough in advance. I made my plans this year at the 11 mo. mark. My mom was able to get reservations around 10 mo. out. My sister would love to join us but it is too late. We are staying at BWV early Dec. She made reservations through CRO for a room at the BWI - she could have gotten a studio through them but for the same price she decided to try something different.

I was able to find wonderful owners who worked w/ me on payment - but you still have to pay up several months prior to arriving (obviously for the owners protection) I just made my final payment yesterday Disney allows you to pay for just one night & has a very liberal cancellation policy.

Last year I was only able to get in because somebody cancelled. That was in June - If you want to stay in a certain location during popular DVC times you have to plan ahead! Many people also don't have the flexibility to travel only Sun. - Thurs. We have 2 low point nights & 2 weekend nights. It's the only time we could go. We are still getting a GREAT rate - but it's not nearly as good a deal as it would be if we were only staying weeknights.

Renting is a great deal - Deluxe accommodations at Moderate prices - but like all things in life - there are no "free" rides

 

[AFMom]

There is also a little less flexibility with the reservation - cancelations are more difficult and less forgiving, and using myself as an example - I won't do any refunds - I will only reschedule. That can be hard for some people to swallow. Especially when planning so far out!
I think if more people knew it was an option, even with the drawbacks, there would be more renting. There really is such a small representation of people here on this board.

 

[JohnNJ]

I have seen renters and rentees that have been shorted by a deal.

Kim:

I don't read every post but I've never seen anything written about a rental deal gone bad. Do you have any details or links to posts about bad transactions?

Thanks, John-NJ

 

[Cruelladeville]

It would be posted on the DVC board. I have been a member on this board for a long time, and I have only seen one problem posted. I believe the people eventually got their money back from the DIS member. It sounded like the owner deposited the money without good records. He didn't have enough points available to go with the promises and deposited checks...and he didn't know that when selling a contract DVC cancels all existing reservations made on the contract to be sold...