Question on renting out your points

[bangzoom6877]

If you decide to rent out your points, what is the easiest way to do it? How can you assure that the person will pay you, that they won't back out of the reservation at the last second, etc., and do this all legally? How exactly does it work? I know some of the basics, such as:

-many people rent for around $10 per point
-you have to make the reservation for the people renting from you
-you have to add on the dining plan for the people renting from you, if they want the dining plan
-common sense would dictate to NEVER give anyone else your member number/login info/etc.

What is your experience renting out points, in case we decide to do it at any point once we become members?

 

[CarolMN]

If you haven't already, take a look at these threads:


DVC Point Rental Primer


Effective DVC Point Rental Agreements


Using the DVC Rent/Trade board. READ ME FIRST!

 

[cseca]

Here's my experience:
I had some personal issues way back on 2003/2004 which prevented me from taking as many vacations. So I had to rent my points.
The first time was nervewrecking. I wasn't sure what to do and what's expected.
I saw a "contract" letter posted and thought it was a great idea. Basically I changed the policy to what I thought was reasonable and then post my points on disboards.
Overall my first renting experience was a success. But I learned from it and now when I rented I make sure to:

1. Update the contract policy based on the situation.
For example: If the ressie is for 11 months out and you're not borrowing any points for it. I can be much more lenient with the cancellation policy.
But if you had to borrow or you have holding points to use, I will make literally NO cancellation allowed after payment is received and reservation is made.
Again, you need to tailor it to your points situation.

2. Make sure the check clears before you make the reservation.

3. I always ask for 100% up front. This eliminates the wishy-washy bunch and also future headaches.

4. Always ask for ALL contact methods: Email, phone numbers, fax if necessary.

5. Make sure your renter agrees with your contract letter before making any reservation.

6. Most importantly: Treat others as you'd like to be treated.
If you are to go out of town for something. Make sure to email them and let them know so they don't wonder what happened to you if you don't respond immediately. Or if you won't be able to make reservation until a certain date, spell it out. So there is no question.

I've made several friends by renting out my points. Some of them repeatedly asks me for points if they're going back to WDW.
I always treat my renters (friends) with respect.
We (my renters and I) appreciate that we're helping each other out.

Good luck with renting and one more thing.
Check your renters post count too. If they're low you might want to take additional percaution (only accept money orders, cashiers check, etc.).

 

[Deb & Bill]

Avoid the needy non-members. The ones who want to constantly change the date, change the view, add this, delete that, who want to pay it out over time-a little bit each month for 11 months, the ones who want to take little Betty Sue for the best WDW vacation ever - can you call MS to add...., the "I can only afford to pay this much" people, etc.