Question re: renting DVC points

[1disfan]

I've read the guidelines about renting points with great interest.

I have a question. Suppose someone posts that they need a cetain number of points for a specific week, at at one of the resorts. Another poster has the points and agrees to make the reservation. After the reservation is made, the first party says "sorry, I changed my mind". The person making the reservation is stuck with the reservation and whatever the cancellation rules are.

Is there anyway to protect yourself, if you agree to use your points to make the reservation?

Thanks.

 

[spiceycat]

if you are using current years point and the reservations was made before your banking window - then where is the problem....

Now if you are using borrowing points - or the reservation was made in the last 60 days of your use year - then you might have a problem.

some members send a contract that overs this problem - and this tell the renter when they can cancel without a problem and when they only get half of their money back and when they none of their money back.

 

[Cruelladeville]

When you rent you use your current year's points, and make the ressie far in advance of the arrival date. I usually rent at least 3 months ahead of the renter's arrival date, and require $100 within 48 hours after I make the ressie. Then I ask for 1/2 after 30 days and the remainder shortly thereafter. After I receive the money, the points belong to the renter, so I don't refund any money. If someone cancels, it's almost always before they send any money.