Points Expiring - safe to rent?

[gmk82282]

I know there is a rental board but the instructions clearly lay out the format, and this kind of question wouldn't be allowed.
I messed up badly - borrowed points from next year for a trip that I'm not able to take now. Of course I was told this when I asked to be put on the waiting list, but at the time it seemed so unforseen that I wouldn't be able to keep the ressie.
I now have 124 points that expire Aug. 2009. I've read a little about renting - most people seem happy except for the few that got ripped off with incidental credit card charges. Any tips, strategies, agreements that anyone can share with me? I'm really green about this whole thing and my family is really upset with me
thank you for any input!

 

[Chuck S]

As far as actual "safety" on a rental, there is really little actual protectin for either the owner or the renter. It is mostly a matter of trust. You need to find someone with whom you feel "comfortable" as much as possible. Some things to look for may be a higher post count or posting style of a postential renter, meaning they have some "history" on our boards. But that isn't to say that a first time poster (such as yourself) isn't any more or less reliable, just that there is some "history" that would make the other party feel more comfortable.

Be sure to have a specific contract, as to due dates for any payments, and consequences of missed payment dates, like cancellation of the reservation. Make sure you have working personal contact information for the other party...address, phone, email, etc. If you accept checks or money prsers as payment, be sure the payment deadlines are far enough in advance of the reservation that they will clear the banks prior to arrival at the resorts. I, for one, don't have a paypal account, though many people seem to feel more "secure" with paypal, and I think it also allows the renter to pay via credit card.

Also, I would check with friends/family/co-workers to see if any of them would like a good deal on a Disney villa. Renting to someone you know, if possible, is really the best protection.
Here are a couple of threads that many people find helpful:

Considering Renting

Point Rental Primer

 

[Inkmahm]

I'd offer the points for transfer on the rent board. Maybe another member could use them. That's "safer" to me than renting to anyone I don't personally know.

 

[Chuck S]

I think borrowed points are like banked points, they can't be transferred.

 

[calypso*a*go-go]

I think borrowed points are like banked points, they can't be transferred.

This is true -- I was just researching it in the Member Handbook last night. Borrowed points cannot be banked or transferred.

 

[Mamiamjo]

I don't know what the percentage of rentals that go bad is, but I'd think it's relatively low. I have rented out before without any problems, but obviously there is chance that you could end up on the hook for charges, damages or whatever. I would use a rental agreement which clearly states that the renter is responsible for any charges, damages etc. You might have to go to court to try to recover any charges but at least it's something.

 

[disneynutz]

I know there is a rental board but the instructions clearly lay out the format, and this kind of question wouldn't be allowed.
I messed up badly - borrowed points from next year for a trip that I'm not able to take now. Of course I was told this when I asked to be put on the waiting list, but at the time it seemed so unforseen that I wouldn't be able to keep the ressie.
I now have 124 points that expire Aug. 2009. I've read a little about renting - most people seem happy except for the few that got ripped off with incidental credit card charges. Any tips, strategies, agreements that anyone can share with me? I'm really green about this whole thing and my family is really upset with me
thank you for any input!

Unless you know what you are doing, and you love working with people, I wouldn't recommend it.

 

[Cmbar]

I have rented many times both for me and for family and friends. When I look to rent I email the person offering rentals and I can usually tell by their emails if I have a comfort with them. This seems so silly, but I actually have become friends with one of the families we have rented from. At first of course we had contracts and now we don't even bother. We may need to rent points for the summer and she is out for this year, and so are the previous people I rented from (this is why I am becoming an owner in 2009!!!) so I may have to go back to the board and find a perspective renter. It is always a little scary, but I really believe most people are honest. It is so sad to see someone take advantage of either side of the rental process.

Everyone is different, if you think you can feel comfortable doing it I would say there is little risk. Remember as a renter I am taking just as great a risk on you taking my money and then cancelling the reservation. That is why a contract is always a good idea. Ideally you could find family or friends that would use the points.
Good luck! I would hate to see you lose those points. Isnt' there anyway you can use them???