Point Rental Questions...

[jlovesee]

Hey All,
My husband and I have seriously been considering buying into a small DVC contract for sometime now, we even attended the open house a few years ago, but have never been interested in Saratoga Springs. So what we would be looking at would be purchasing a small contract 50 points or so through re-sell. (We want to be able to pay cash for the points)

Before we go and invest a smaller but still significant amount into DVC I thought it would be a good idea to test run it. So for awhile I have been considering renting DVC. I have been reading several of the boards for awhile so I am somewhat familiar I just have a few questions.

As it is my husband and I, and I dont really want to fork over thousands of dollars without recourse I was thinking of renting a studio for 3-5 nights. Sunday-Thursday. At Wilderness Lodge that's 12 points and Boardwalk that's 9 points and OKW that's 8 points. We are looking at going from December 10th - 14th. (that's the "value" season unless the calendar has changed)

#1 Could I realistically expect someone to rent that few points? 12 X 4 is 48 points. (aka the # we would like to buy into)

#2 It looks like rental points are averaging $10-$11 a point, is that a pretty good assumption? Also I noticed on the "contract" they have on this board that 50% is due down at the time of reservation, that's not a problem.

#3 11 months is coming up pretty soon for December 10th, is it to late to get Boardwalk standard, preferred, WL Villas? I would be willing to go with OKW too, but would prefer the other two.

#4 I have read a few horror stories online here, what are some good things to look for from a DVC owner willing to rent their points? I dont want to invest $400-$500 and then end up with nothing. For those who have done this have you been happy with the transaction?

Thanks for your help!

Jennifer

 

[DisneyKidds]

I remember fondly the first trip we made to the VWL when I discovered the ability to rent DVC points. It was a great trip, a wonderful rental experience.........and just a few month later we were closing on our own VWL and BWV resale contracts.

Good idea to try before you buy, and you've come to the right place to ask questions.

1. No, 36 to 60 points is not too few for a member to rent. I've rented to people for stays that short. All depends on what a particular owner needs to rent, and what kind of customers he can find.

2. Yes, $10 to $11 seems to be the going rate, and it hasn't changed much in a long while. Reasonable to expect you'd pay that to rent points for your stay. As for deposit and payment, it varies by owner. Usually a deposit due upon confirmation of the reservation, and final payment usually due well in advance of stay, depending upon banking deadlines and such. Cancellation policies also vary by owner. All that has to be worked out in good faith, but tha's pretty easy to agree on.

3. It's not too late to get December 2007 reservation at this point, as the earliest anyone can make a reservation is 11 months from the day of checkout. For you that would be Janaury 11 if making reservations day by day. If you want BWV for that time frame, particularly with your choice of either Boardwalk or Standard view you'll have to find a BWV owner who can take advantage of the 11 month window.

4. What to look for? A poster who has been around here a while and is active is a good sign. You can always ask for references. No matter what you do there will be trust involved on both sides, but I've been happy with all my experiences on both ends of the rental transaction.

Good luck......and let me know if I can help.

 

[mikesmom]

That's not too few points to rent out, but be aware of a few realities:

1- That is THE most popular time for DVC vacations, believe it or not. A member trying to book that period might have to call day-by-day to insure getting a Standard View room at BWV as there are not very many of them. That's asking service above and beyond of the person you are renting from.

2- You are asking someone to tie up points for a full 11 months. For that reason (and #1) they may ask more than the $10/point rate.

3- At 11 months out you can only rent from someone who "owns" at the particular resort you want. Owners of other resorts have to wait until the 7 month mark.

4- also because it is 11 months out you may not have as large a pool to rent from. Renting is still not a large practice for most owners. Lots of the renting activity you see are people who are reacing the end of the year and have some points they won't use or people who had to cancel a planned vacation. You won't have those folks in the pool as they are not even considering a rental at this point. The closer you get to date, the more potential "landlords" you may find - of course there will be far fewer rooms available, also.

Good luck!

 

[Dean]

If you're looking at a one time rental, $10-12 per point is reasonable to expect though I think you're looking at the higher end or more if you look at BWV standard or BW view. Of course this is likely to increase over time so don't count on this for the long haul. Rentals terms are between you and the member, when I've rented I've expected a 25% deposit and the balance at 120 days out all non refundable. As for horror stories, they are few and far between but do happen ON BOTH SIDES OF THE EQUATION. There is no fool proof way to rent, things can always happen. But since you're still looking at less than 50% of what you'd pay otherwise for the 5 nights excluding weekends and this makes the risk worth it for many.