question re: restricted points for rent

[BJK]

i'm a new DVC owner, having just purchased a couple of BWV resale contracts in the last year..

we just closed on our second contract....it has a march use year...and the person we bought from has 18 restricted points that we can't use before their expiration....

my first question is, to renting veterans....can you rent out or transfer restricted points to a buyer or another dvc'er the same way you can regular points ?? i assume so....and then the buyer would face the same restrictions with the points ?? is that right ??

and because we can't use them, we would certianly be willing to rent them for well below market value if anyone is in need a few points for a WDW trip coming up in the next 4 weeks....

any help anyone can be would be greatly appreciated....

 

[Gary K. D.]

I am not sure what you mean by "restricted". As far as I know, you points could be either banked, borrowed or transfered into your account. In any of the above cases, the points must stay in your account and may not be transfered out. If the points are from a canceled reservation outside of the DVC properties, then you have reservation ponts now and they must also stay in your account and can only be used to make a reservation for someone outside of the DVC properties including the Disney Cruise line. You must watch the dates that those points expire because they must be use with some expiration guidlines in mind.

 

[wdwstar]

i also would like to add "points in a holding account" if the ressies was canceled less then 30 from check in, the points will have been put into a holding account, that means you can only make ressies 60 days out from your check in date, and you will have to make the ressies, these points cannot be transferred.

if these points have a march use year, you have until the end of feb. to use these points or you will lose them.

im not sure if you have any of the members point charts, but if you need help determine which resorts you can offer for rent and the ressies will have to be a sunday thru thurs. ressies, since its only 18 points, but enough for one night, please post back and explain what type of points these are so we can help you

 

[niks81]

Just thought I would add that Member Services has referred to points that we commonly call "in holding" as "restricted" on a few occassions to me

 

[BJK]

when we bought our resale, the points were termed to "restricted" in the resale contract, so i assumed that was universal term used...

i'm assuming they are points in a holding account....

so i'm being told that i can't transfer these points from member to member, but i can make a resservation for someone ??

is that right ??

 

[Dean]

They could be holding account points which you can use for DVC starting at 60 days before your trip. They could also be resrvation points which cannot be used for DVC but can be for other options like the Disney Collection or Concierge Collection.

Holding account - Points used for DVC and cancelled less than 31 days out.

Reservation points - points used for exchange options and then cancelled.

Both must be used before the end of your use year and cannot be banked. I'm not certain if holding account points or reservation points can be transferred.