Question about renting points

[Lyndarella]

We have never rented out our points before, but will have next year's points that we will not use. I've been looking at the rental board, but a couple of questions come to mind. I noticed that there are quite a few posters looking for points, who are new to the board (Oct. 2005) and this is the first time or almost the first time they have posted. Is that unusual? Would that make it a riskier rental? I also noticed quite a few people wanting to rent points to use this Nov. Is that unusual? Wouldn't it be difficult to make a reservation and collect $ in such a short time frame? Even after reading the FAQ, etc., I am not sure if I can rent out points without getting into a bad situation! Please advise what to look out for...

 

[Deb & Bill]

It seems like so many of the non-members who want reservations don't really know the process. If they did, they wouldn't be posting for a 2 bedroom villa (standard view, BWV) for Christmas week, for less that $10 a point, plus they want an escrow contract. Payment will be after they have the vacation.

If you want to rent out your points, you really need to only consider the people who will pay you ahead of time on your terms, have very few demands (and some of them seem to be getting very demanding), they will work with you (not you work around them), they give you a set time, location, size of villa (and it's set in stone). They don't keep asking for changes, add a day, subtract a day, different size villa, different location, etc. If they ask you to find out if there is availability for a time, but don't commit, forget them. If they want something less that 30 days out, forget them.

If there is any chance in heck that you will be burned, forget them.

Plus, I wouldn't borrow points until they paid you. Don't get burned. Make sure you have time to cancel the reservation (more than 30 days out) or make it firm, no cancellations. Get the money before you give them the reservation.

Don't lose your points, your money, your vacations because of someone else.

 

[AFMom]

We rented less than 30 days out - but we required payment in full before I made the reservation. I called MS - confirmed that the date and unit size were available, and told her that as soon as the money went through paypal I would book her the unit. If the unit disappeared in the meantime, I would have just sent the money back to her. But I won't take any risks on rentals with such short terms.
In fact - we require payment in full on all of our rentals - usually as soon as the confirmation letter is recieved by the renter.. You set your own rental terms as to what you are comfortable with - there is no reason to take any risk. You can also charge what you are comfortable and happy with charging - they are your points and you set the $$$.
I would suggest you start your own thread on the rent/trade board listing your general terms and price, when the points are available, etc. Then anyone willing to work with you under your terms will contact you.

 

[mikesmom]

I agree with Deb & Bill on this one. Anyone who is posting for November right now is pretty much dreaming. The people who are responding by saying they have points (not an actual reservation) are also dreaming.

Before you try and rent points I would recommend that you do some research and be sure you truly understand the system as to banking, borrowing, cancel penalties, etc. so that you don't get burned. It's understandable that a non memer might not "get" the system. It's up to you to make sure they understand how it works and your terms before some sort of mess develops.

I also agree with the 2nd poster. Your football, your game.

 

[Tinkerme1]

Where do you find the information about renting points? Where do you rent them? Is there a board available for this? I would love to know.

 

[aubeone]

I am a newbie(about 1 month old) and just rented points from a DVC owner at OKW for April. I have agreed to pay upon reciept of the confirmation paperwork and find this a very reasonable agreement. It does take a degree of trust for the renter and rentee.

I was hoping for BW or BC but they are not available. The DVC owner has me on the wait list for those. I hope I am not being too demanding of the DVC owner but I am unable to make any changes myself.

This rental concept seems like a win-win for everybody!

 

[Deb & Bill]

I am a newbie(about 1 month old) and just rented points from a DVC owner at OKW for April. I have agreed to pay upon reciept of the confirmation paperwork and find this a very reasonable agreement. It does take a degree of trust for the renter and rentee.

I was hoping for BW or BC but they are not available. The DVC owner has me on the wait list for those. I hope I am not being too demanding of the DVC owner but I am unable to make any changes myself.

This rental concept seems like a win-win for everybody!

If your waitlist does come through, you may owe the DVC member additional money for the new location. OKW generally does not require as many points at BWV or BCV. Just an info.

 

[aubeone]

Hi Deb and Bill,

Is it worth the the extra money to stay at BWV or BCV? Or would you recommend sticking with OKW?

 

[Deb & Bill]

...Is it worth the the extra money to stay at BWV or BCV? Or would you recommend sticking with OKW?

It all depends. OKW is great because the villas are so much larger than the other DVC resorts. But BWV and BCV are close to Epcot and Disney Studios. Within easy walking distance. Buses are pretty good at OKW and it doesn't share with other resort. BWV and BCV share buses with YC/S&D, as well as BWI and BC. Indoor corridors vs outside entrances. Park near your villa or in a parking lot that might be further away from your villa.

If you are in a studio, you get two queen beds at OKW. You get a queen bed and a double sleeper sofa at BCV and BWV.

Full size washer and dryer at OKW in the larger villas. Stackables at BWV and BCV. Shared washer and dryers for all the studios.

 

[ErinC]

Lynderella, we cruised a few weeks ago, and transferred some of our points to help pay for it. I looked for a DVC member that needed some more points and posted that I had some available for her. It worked out great. I got my $10 a point for them and transferred the points to her account. No worries about making a reservation and and dealing with a renter that doesn't know DVC policy. It might be the way to go for your first time. You can always advertise on the rent trade board that these points are for transfer only, and if you don't get rid of them than you can try to rent them. Keep in mind you can only transfer current year points, you can't transfer banked or borrowed points.

 

[spiceycat]

go find the post on DVC rental contracts.

then make up your own rental contract.

I do this. After someone contacts you send them the rental contract and the reservation confirmation. I ask for 50% now and 50% 90 days before the reservation. but you can definitely set your own terms.

I only had problems with one guy - it was a Thanksgiving reservation for BWV standard view - I set my terms - he agrees. then suddenly he is asking for changes. Well this was a very popular time I just went to the next person on the list. I guess I should have replied - but people like that get me so irrated that it best that I not reply......

my other renters have been the BEST!!!!

I even take personal checks - no problems!!!!

remember you have control. if there check is bad you give them a chance to fix the problems. if they haven't fixed it in 30 days you cancel the reservation.

I have just one cancelation but I rerent the unit. So I gave him a full refund.