Paying for DVC "rental" points

[lynnfitz]

Hi-Opinions would be appreciated-when paying (renting) for DVC points-what is the "normal" or most often type of payment to be used? I usually pay half first, then when I receive the confirmation in our names, I send the other half-both with bank checks. This is my 3rd year renting, the past 2 years, the people renting to me were fine with that-now I received an email that she wants full payment-then when she receives it, she'll call Disney, and conference call me in to make reservatins with her. Little uncomfortable sending full payment-thoughts??
thanks!

 

[Cee]

Usually there isn't even a deposit until the renter has the confirmation from WDW. If it's very last minute, then full payment is required, usually by Paypal. Paypal is a good way to protect both parties. If you've never rented from this person before, just do as much homework as possible before doing anything. Good luck and enjoy your vacation!

 

[disneynutz]

The terms of the rental are between the two parties and should be detailed in the written agreement.

Bill

 

[Muushka]

I am a very trusting person and I would not be comfortable with that. Let me get this straight:

she wants full payment-then when she receives it, she'll call Disney, and conference call me in to make reservatins with her.

Seems strange. Unless these reservations are within the 30 day cancellation period, then I would understand doing it that way.
Otherwise, nope.

 

[magicaldisney]

There are others that you can rent points from. I personally would pass this one up, but that's just me.

 

[fkj2]

I've rented points out in the past, and I wouldn't ask for money until I've been able to secure the reservation from MS. Just my personal policy.

 

[disneymom88]

I just rented points from a great lady, we used paypal. I payed the deposit (50%) the day I got the DVC confirmation letter that she sent me, and I'm due to pay the other half 60 days out of my vacation date. If I was in your place, I wouldn't rent from that person, there are many people looking for renters in the rent/trade board. I talked to another lady before contacting the one that I'm renting from, who wanted me to pay everything once the reservations was made. I wasn't confortable with that so I told her, politely, and kept looking.

 

[cseca]

Depends on the member's points situation.

But as disneynutz pointed out, agreements are between you two. And if you are not comfortable then don't do it.

Understand that some members rule out the "non serious" renter by asking for full payment in advance. Just a thought.

Good luck in getting your rental! :

 

[Deb & Bill]

The owner of the points makes the rules. If you as a renter don't like the rules, you find another owner to rent from.

If the owner wants payment in gold coins, you pay gold coins or find another owner to rent from.

 

[Daddio]

The owner of the points makes the rules. If you as a renter don't like the rules, you find another owner to rent from.

If the owner wants payment in gold coins, you pay gold coins or find another owner to rent from.

This is true and reminds me of a time where a protential renter asked me why I was $13.00 per point when they had another person interested in renting at $6.00 per point. I suggested it would be best if they contacted the other renter. They said they would but he was out of points. I told them I could actually do $5.00 per point if I too didn't have any left.

David

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[Jen_in_NH]

I rented this past winter, and the person I rented from wanted 50% within 30 days of my recieving the confirmation, and the other 50% 60 days out from the reservation. We liked our stay so much that we bought in while we were there. Knowing we weren't going to use the first years points, we rented them out, using the same forms she sent us to rent ourselves.

I think if you don't like the terms, you're better off finding another person to rent from.

 

[WizardLarz]

Would it be possible for a DVCer to post a copy of a reservation letter? That way those of us renting points can be sure that the letter we receive fron the renter is legit.

TIA, WizardLarz

 

[disneynutz]

Would it be possible for a DVCer to post a copy of a reservation letter? That way those of us renting points can be sure that the letter we receive fron the renter is legit.

TIA, WizardLarz

I don't think that you and others understand the process. A Member can send you a legit letter and still cancel your reservation and you can't really do anything about it.

You must check references and follow the renting suggestions here on the DIS. Even then. if you are not comfortable renting from someone, then don't. Renting isn't for everybody.

Best wishes.

Bill

 

[hellerjw]

Unfortunately, even a confirmation letter is no guarantee as the owner could simply cancel the reservation after sending out the letter. The renter wouldn't be able to contact Member Services to verify the reservation anyway. Renting involves a great deal of trust between both parties and all the details should be spelled out in a written agreement between the 2 of you. Even that doesn't provide much recourse but it at least makes sure you are both on the same page with everything. Renting can result in a heavily discounted stay but you have to be willing to trust a stranger and hope they are honest. The owner holds all the cards.

 

[hoffmann2828]

I am an owner and have rented a few times in the past when we weren't using all or any of our points.

For me it really depends on how far out you are renting, how much the total charge is, etc.

For instance, if I was booking 11 months out at my home resort (say for Xmas week) and I needed to borrow a certain amount of points to do it, then I would require an up-front deposit equal to the number of points I needed to borrow.

For instance, say it was 240 points, but I had to borrow 40 of them at reservation time, and I was charging $10/pt, then I would require $400 upfront and it would be NON-REFUNDABLE if they canceled the trip.

I don't think the owner should have to move stuff around point wise and then be forced to use it or lose it.

That being said, I also have a very detailed contract that I type up that protects BOTH parties, owner and renter. I am completely anal-retentive though and also make both parties have it notarized as well, so if it ever went to court, then it would be fully enforceable.

I highly recommend anyone who rents out or rents points sign a formal contract. If either party doesn't feel comfortable signing a document like that, then they should move on to someone else. I've had many renters tell me that they felt very comfortable with me renting to them because of that contract because I also deal with their fears/concerns as well. I think any owner that isn't willing to acknowledge the renter's precarious position in handing over dough while we can cancel their reservation on them is not an owner I would consider renting from.

Jenny