Payment from David's?

[Madame]

Yesterday afternoon about 4:30 I filled a request for David's. Does anyone know how long it usually take to receive payment from them?

I had to borrow 132 pts into my 2016 uy & it's my first time renting points out so I'm getting nervous that something will go wrong and all those 2017 pts are now stranded.

 

[kamik86]

If your renting out your points you will receive a request when David has someone that wants to use your points, then you will have to make the reservation and send David's back the confirmation. After that they will receive payment from the person that is renting and pay you.

How long it takes depends on how many people David has looking for retals now.

 

[Madame]

If your renting out your points you will receive a request when David has someone that wants to use your points, then you will have to make the reservation and send David's back the confirmation. After that they will receive payment from the person that is renting and pay you.

How long it takes depends on how many people David has looking for retals now.

I've already made the reservation for David's client & sent them the MDE e-mail confirmation. I'm waiting for them to pay me! I'm a little nervous because I had to borrow points from 2017 into 2016 to make the reservation!

 

[mort1331]

Sounds like you have already done the booking. So with my experience you should have it in your paypal account within a couple of days. Then the holdover amount will be there the first day the guest check in.

 

[mort1331]

I've already made the reservation for David's client & sent them the MDE e-mail confirmation. I'm waiting for them to pay me! I'm a little nervous because I had to borrow points from 2017 into 2016 to make the reservation!

I wouldnt worry, they have a great system, used them a few times. Now I do my own so I can have a couple extra bucks in my pocket, and all moneys up front. But give it a day or 2 and should show up.

 

[cvjw]

They will pay you as soon as they have payment from the renter. I have rented with them several times. Most of the payments to me were the same day.

I had the same concerns as you about borrowing points and then the renter changes their mind. Davids said if that does happen, you will be put at the top of the list to use your already borrowed points.

Don't worry, they will pay you, or find you another renter if the first one ends up bailing

 

[LionKingCPA]

I've used them to rent my points and they've almost always paid within 2 days. They collect from the customer pretty quickly.

 

[MinnieGi]

I've used David's several times, all with excellent results! Depends on how fast the renter gives them the money to how fast you get the money. I just did a reservation last week and literally had the money the next hour! But usually it takes a couple of days.

 

[icydog]

I like the ability to rent my own points and skip the commission fee David takes. His business model is brilliant. He didn't have to buy any points or pay maintenance on them. He has you make the reservation and fiddle with where the points will come from. And for this he gets $2-$3 per point commission. I'm sure my post will be taken down since he's a major supporter on this board. I have nothing against him. I've used his company myself-- first to rent points-- and then to have him rent out my points. In both instances he did a fine job.I just don't like to pay him if I don't have to.

 

[_auroraborealis_]

I like the ability to rent my own points and skip the commission fee David takes. His business model is brilliant. He didn't have to buy any points or pay maintenance on them. He has you make the reservation and fiddle with where the points will come from. And for this he gets $2-$3 per point commission. I'm sure my post will be taken down since he's a major supporter on this board. I have nothing against him. I've used his company myself-- first to rent points-- and then to have him rent out my points. In both instances he did a fine job.I just don't like to pay him if I don't have to.

What you're paying him for, IMO, is the following:

• Not having to filter through the absurd requests that posts on Rent/Trade get (i.e., people looking NOW for 1/1 studios, "prefer VGF!!!")
• Answering all the point rental questions on your behalf
• Warm market -- David has a pool of potential renters lined up, and the $95 fee is a huge pre-qualifier

Can you rent your points solo? Sure. But it's a lot like trying to sell anything on Craigslist -- there are a lot of squirrels, people with poor expectations, people who just won't show up. It comes down to your tolerance for dealing with those hassles, vs. Bird In Hand.

 

[gzmtlock]

I love renting out through David's. So easy! Letting his company do the legwork and deal with newbies, plus any time I have listed points with his company, they are rented out within weeks if not days - it is totally worth his commission to us! Not critical of those who prefer to do it themselves and maximize their cash intake, I just prefer to pay someone else to deal with all the details. And take on almost all the risk. If I were responsible for it, we'd probably end up losing points/money. . .

 

[Madame]

Payment came through this morning. Yay! Now I just have to figure out how to transfer USD to a Canadian USD bank acct without it exchanging to CAD & charging a fee. Nothing can ever be simple. I miss the old days of cheques.

 

[LAX]

Payment came through this morning. Yay! Now I just have to figure out how to transfer USD to a Canadian USD bank acct without it exchanging to CAD & charging a fee. Nothing can ever be simple. I miss the old days of cheques.

I thought David's is based in Canada (I think Toronto), may be you could have worked out something so that you were getting CAD instead. Perhaps it's too late now that you have already received your payment.

LAX

 

[Madame]

I thought David's is based in Canada (I think Toronto), may be you could have worked out something so that you were getting CAD instead. Perhaps it's too late now that you have already received your payment.

LAX

It is, but they pay in USD. I need the USD for dues. If I were paid in CAD I'd lose money converting it to USD or getting hit with the exchange on my credit card. That's why many of us have US dollar accts with our Canadian banks. This is a PayPal problem they seem unwilling to fix.

 

[ML_LovesDisney]

I've already made the reservation for David's client & sent them the MDE e-mail confirmation. I'm waiting for them to pay me! I'm a little nervous because I had to borrow points from 2017 into 2016 to make the reservation!

I have had this happen before, they were having difficulty contacting the renter for payment. It took several days but eventually I got my money

 

[icydog]

I love renting out through David's. So easy! Letting his company do the legwork and deal with newbies, plus any time I have listed points with his company, they are rented out within weeks if not days - it is totally worth his commission to us! Not critical of those who prefer to do it themselves and maximize their cash intake, I just prefer to pay someone else to deal with all the details. And take on almost all the risk. If I were responsible for it, we'd probably end up losing points/money. . .

What risk is David taking. If the customer cancels you're still going to have to cancel the reservation. If it's close to the end of your use year you'll be stuck holding the bag. How does David take any risk? He doesn't pay you until you make a reservation. If he doesn't make a reservation what happens to those points?

Again, I'm not faulting David's business model. In fact just yesterday I sent a customer his way and I've done it before too. I need clarification on this.

 

[icydog]

It is, but they pay in USD. I need the USD for dues. If I were paid in CAD I'd lose money converting it to USD or getting hit with the exchange on my credit card. That's why many of us have US dollar accts with our Canadian banks. This is a PayPal problem they seem unwilling to fix.

If you have a Chase Card like their Sapphire card you don't pay foreign exchange fees.

 

[icydog]

I have had this happen before, they were having difficulty contacting the renter for payment. It took several days but eventually I got my money

Exactly! What happens if the renter doesn't pay and you borrow points to complete a reservation. And the reservation is at the end of your use year? What happens then. Are you out those points?

 

[bumbershoot]

If the customer cancels you're still going to have to cancel the reservation.

They have a contract and there's a deposit that is only refunded if no reservation can be made. Once there's payment the customer can't cancel.

If he doesn't make a reservation what happens to those points?

? The points are still in the owner's account if no reservation can be made.

Exactly! What happens if the renter doesn't pay and you borrow points to complete a reservation. And the reservation is at the end of your use year? What happens then. Are you out those points?

Since you are sending people their way maybe you should call and find out. Their faqs don't specify.

I personally wouldn't rent out my points in such a situation.

 

[ML_LovesDisney]

Exactly! What happens if the renter doesn't pay and you borrow points to complete a reservation. And the reservation is at the end of your use year? What happens then. Are you out those points?

Chances are another reservation request would come along to use up your points that you borrowed. It IS a risk, but I've done it a few times and never had issues