Pointers on Renting Points?

[musical2]

Would someone please give me some pointers on renting points.

Next year we are going to go on the Disney Cruise instead of WDW. Instead of using our points to pay for the cruise, I want to pay cash and rent out the necessary points to pay for the cruise. Paying cash instead of points will save us about 150 points (480 points for class 4 cabin in October, vs. $3300 paying by cash).

Thus, I would like to rent out some of my points to help pay for the trip. I've never done this before and need pointers on listing on the Rent Board and whatever paperwork needs to be done with the renter, etc.

I would have done a search on this for past threads on the topic, but it seems that the search option is disabled.

Any help is appreciated.

Thanks.

Bart

 

[Richyams]

Some of us feel the best way to do this is to reserve Christmas and auction it off on Ebay. Some feel that this is a fine thing to do.

Some think reserving very difficult times of the year, like this Nov 30 Sun thru Thurs and then selling the reservation for $12.50 per point is fine. Some think its taking advantage of the system to the detriment of other members.

Some think putting an ad on the rent/trade board for a number of points at $10 each is the honorable and right thing to do.

Putting a post on the rent/trade board with the 'useful dates' and number of points well in advance of the eleven month window with your desired price per point is probably the best way.

Scalping Xmas and early December reservations works also.

 

[musical2]

I put them up on the Rent/Trade Board for $10 a point. It never even occurred to me to reserve a much desired week and then scalping.

What do I need to know about the transaction part? Is there some generic rental agreement out there that people use for renting their points?

Thanks.

Bart

 

[DaveO]

Rich's views are well known on this topic ..... Let me give you some real advise ...

If you want to rent the points quickly put them on the rent trade board @ $10/pt they will go buy the first day. That is a GREAT bargain for most. But there is no way you can get more that $10/pt on these borads ... to get more you need to go to other sources for buyers .....

If you have the time put together a flyer and put it up at work on the community board. Look up the prices for a studio or 1 BR on line for Sun - Thursday (maybe include Sat) and advertise for 40%-50% off Disney rates. The first day I got 3-4 phone calls.

This will take a little more time but you can get you $12 - $14 a point and still give your buyer a great rate they can not get anywhere else.

I have done it both ways and if I have time and prefer the $14 a
point through folks at work.

RICH ... please do not categorize the folks who choose to get more $$s for there points as sleazy. Scalping is when you charge more than the 'face value' of your product. I do not consider 40% - 50% off Disney rates for the same room scalping. It is well within the rules of the contract and the option to reserve and rent is open to every member as long as it is not a business.

Dave O.

 

[Cruelladeville]

Bart,
You don't really need a rental agreement, since you are in control of the points at all times. You do need to set forth what you are expecting when you email a renter, so they know how you are planning for payments. Believe it or not, one renter told me that someone on this board did not require ANY payment until after they had returned from their vacation That is way too trusting for me! I require a $100 deposit, with the remainder due 35 days before departure. I don't like to wait longer than 3-4 days for a deposit, since lots of people will change their minds once you have made the ressies. I am renting points now, and I started with 300 to rent, and have found myself making and cancelling several ressies when people don't get their deposit in. You need to build in a cushion for yourself--don't book any ressies less than 30 days ahead unless you get payment in advance for that, since points in holding usually have to be rented for a cheaper amount.

 

[musical2]

Thanks for you help and different perspectives on this. It is much appreciated!

Bart

 

[Johnnie Fedora]

We did this exact thing last year and it worked well for us. DCL does not give DVCers a fair value for their exchange. Our trip cost us 200 fewer points than if we would have booked through DVC exchange. I would suggest making up a "contract" that explains each persons obligations. Also, it is best to be able to find a renter who can use the points before your banking deadline. That way if the deal goes south, you can save the points (and if your desire to, give a partial refund/reschedule for your rentee). Best tip in this is to rent out points early in their use year. A friend of relative may also want to rent from you. I would collect the money 25-50% upfront, the the remainder at least 40 days prior to the reservation. you'ld want the whole thing paid for before the 31 day cancelation policy. Make sure you read the members book, and have an excellent understanding of point usage before you commit to renting.

Johnnie