Payment Question for Renters

[Tinkerbell10403]

Hello!

Just to start off, I am a DVC owner. 3 months ago, my Mother and Father bought into the DVC and since they know what a fanatic I am, they included me on the deed as well. I was so excited!

DBF and I are planning a trip to WDW over the summer, and so as to not take away from my family's points as a whole, I am considering renting from someone on the boards. I am thinking I will probably need around 60 points.

Renters...
What are the typical payment agreements..
1) do you require FULL balance at the time of agreement
2) or do you require a percentage as a down payment, and then full payment at an agreed date?

Any insight would be great!

 

[browniemtb]

Renters...
What are the typical payment agreements..
1) do you require FULL balance at the time of agreement
2) or do you require a percentage as a down payment, and then full payment at an agreed date?

Any insight would be great!

If you are an owner you could get points transferred into your account so you can do with them what you will. This would be the same premiss....pay for the points and the member will call MS and say transfer 60 points to member #........Or rent. Renters seem to have different terms. I do a 50% down and 50% 90 days out. Some do 100% at confirmation. All depends.
Good Luck
Brownie

 

[Tinkerbell10403]

For a transfer,

Do you pay all at once, or can it be 1/2 and 1/2...

Just wondering if it would not be more economical to rent this time...

 

[browniemtb]

Transfers are immediate so they would be 100% paid before the transfer takes place. At least those would be my terms.....
Brownie

 

[dianeschlicht]

Bear in mind that some folks charge less for transfers than they do for rental points, because there is less for the owner to do.

 

[CarolMN]

Payment terms are completely negotiable and can be whatever you and the owner agree to do.

Best wishes -

 

[Chuck S]

Payment terms are completely negotiable and can be whatever you and the owner agree to do.

Best wishes -

Absoultely true, but here are my thoughts on terms for transfers vs. renting. While I have not rented or transferred points, I would be inclined to transfer for a little less than renting - less for the Owner to do, as a previous poster said. However, I would want the total up front for transfer because I, as the owner, would lose control of those points at that time...there is no recourse if a payment isn't made. Whereas, with a "rental", I would always maintain control of the points and could cancel the ressie in the case of none payment. Both methods have their positives and negatives.

For the person that is having the points transferred into their account, there is also a little greater risk than renting, in that they would pay someone up front and they then could refuse to transfer. As with regular renting, there is a great amount of trust on both sides of the coin.

Good luck with whatever type of transaction you decide upon.

 

[Tinkerbell10403]

For now..since I do not know too much about the 'transaction process', I will stick with just renting. Thank you to everyone for your help!!