Ok, I'm a nervous dolt--can you help me?

[Fargoman2]

I am prepared to rent some of my AKV points but want to make thing crystal clear.

Even once I give the renter the confirmation/travel itinerary number, I as the member still retain control of the reservation, correct?

Obviously, the renter wants some confidence the reservation actually exists/has been made in their name before they want to submit any payment.

So, bottom line, can I give them the ressie number, wait for payment and then if I don't get it in timely manner, cancel the reservation?

Sorry for being a dolt!

 

[paults]

you have control till they check in.

 

[MAO]

I'd suggest trying to compromise, btw. Have the Renter pay you some percentage of the total before you make the reservation and then the rest after the reservation has been made and they can verify it. That way you can require that they use the same form of payment for both transactions and you can wait until the first one clears before making the reservation - if it doesn't clear, you've not potentially put your points in a situation where you have to bank them or they end up in holding. If it does, it gives you a somewhat better sense of security that the renter is serious and will pay you what is owed.

 

[ziravan]

Make the reservation before you take any money. You can't guarantee that a reservation exists until after it's made. Otherwise, you might take money, and then the reservation is gone before you can make it.

I have been on both sides of a rental transaction. I would never pony up a dime without proof of reservation.

Make the reservation and forward the confirmation email to the client. Payment due on receipt of confirmation. If they don't pay in 10 days, cancel, and rebook with someone else.

DON'T book a reservation sooner than 31 days plus 10 days to get paid, that way you can cancel without penalty.

ANYBODY that knows anything about the rental process isn't going to send money and wait for a reservation to be made. They are going to move on to somebody that will book the reservation immediately to make sure they don't lose the availability to someone else.

 

[disneynutz]

I am prepared to rent some of my AKV points but want to make thing crystal clear.

Even once I give the renter the confirmation/travel itinerary number, I as the member still retain control of the reservation, correct?

Obviously, the renter wants some confidence the reservation actually exists/has been made in their name before they want to submit any payment.

So, bottom line, can I give them the ressie number, wait for payment and then if I don't get it in timely manner, cancel the reservation?

Sorry for being a dolt!

Since this is new to you, I suggest that you rent through a rental broker, they will guide you through the process.

Bill

 

[Chiomaca]

Make the reservation and forward the confirmation email to the client. Payment due on receipt of confirmation. If they don't pay in 10 days, cancel, and rebook with someone else.

I rented recently and this is what he did for me. I gave him all the information, he made the reservation and asked me to send the money once I confirmed the information was correct.

 

[supersnoop]

So, bottom line, can I give them the ressie number, wait for payment and then if I don't get it in timely manner, cancel the reservation?

Exactly.

If you have to borrow or bank points to make the reservation; if the reservation is withing 31 days (+/- 10 for payment), or if you are near your banking deadline, I'd ask for a deposit up front. But if you're just using regular points in their use year and not risking any lost points if you have to cancel a few days later, then just book it and be done with it.

When I rented a few points out on this board, I'd book the reservation as soon as someone would ask if it was available. Worst case, I just cancelled it a few minutes later, and I didn't risk inventory disappearing while they made up their minds.

 

[ziravan]

Exactly.

If you have to borrow or bank points to make the reservation; if the reservation is withing 31 days (+/- 10 for payment), or if you are near your banking deadline, I'd ask for a deposit up front. But if you're just using regular points in their use year and not risking any lost points if you have to cancel a few days later, then just book it and be done with it.

When I rented a few points out on this board, I'd book the reservation as soon as someone would ask if it was available. Worst case, I just cancelled it a few minutes later, and I didn't risk inventory disappearing while they made up their minds.

Agreed. I rented three reservations last year. I booked something like seven. I booked the dates to hold them for a party, and then released them if it didn't follow through.

One guy. Sheesh. I found him 6 consecutive AKV value days at four months out. He had to think about it. It killed me to cancel that ressie.