Question Regarding Renting/Depositing Points?

[js]

Is there a place on the board I can ask questions regarding the rental of my own points. I know how to rent but I may want to rent points at the end of January.

My question is, "Is this correct":
I make a thread about my points and renting, how much, how many, etc.

When the person IMs or posts, for each post I must call DVC and ask
about the availability.

Once I have the availability I let the person know via phone or IM and we call DVC together. I give DVC my information and then the person on the other end gives their information.

I get the confirmation but send to the other person?

Do most people ask for 50% at time of ressie and then 50% closer to the date. Do you not make the ressie until you have the money? I have paypal so would give my email and ask for the money to be sent to paypal. Since I have paypal, can they pay by credit card or do they need to have paypal too?

Have most people who rented their points have a good story and not been burned?

I appreciate all your help.

Thank you.

 

[dzorn]

Is there a place on the board I can ask questions regarding the rental of my own points. I know how to rent but I may want to rent points at the end of January.

My question is, "Is this correct":
I make a thread about my points and renting, how much, how many, etc.

When the person IMs or posts, for each post I must call DVC and ask
about the availability.

Once I have the availability I let the person know via phone or IM and we call DVC together. I give DVC my information and then the person on the other end gives their information.

I get the confirmation but send to the other person?

Do most people ask for 50% at time of ressie and then 50% closer to the date. Do you not make the ressie until you have the money? I have paypal so would give my email and ask for the money to be sent to paypal. Since I have paypal, can they pay by credit card or do they need to have paypal too?

Have most people who rented their points have a good story and not been burned?

I appreciate all your help.

Thank you.

The first thing you should probably do is go read the stickys on the rent trade board.

Denise in MI

 

[js]

The first thing you should probably do is go read the stickys on the rent trade board.

Denise in MI

Thank you.
I have been there and have read the stickys but wanted what the actual people who rent have done and their experiences. There is not much information for those that have questions about being the renter.
Thanks so much!

 

[maburke]

You don't have to call DVC together. You can just make the reservation yourself. You want to make sure the person is ready to commit, and not just shopping around; I wouldn't call for availability for every post. The only reason I'd ask for money up front is if I were doing something irreversible at the time of the reservation, like borrowing, or making a reservation less than 30 days out.

 

[js]

You don't have to call DVC together. You can just make the reservation yourself. You want to make sure the person is ready to commit, and not just shopping around; I wouldn't call for availability for every post. The only reason I'd ask for money up front is if I were doing something irreversible at the time of the reservation, like borrowing, or making a reservation less than 30 days out.

Thank you. This is the information I need.
I have a September use year and would be using September 2012 so is this correct:

For any now-August 31, 2012: I would be borrowing. Once borrowed, these points need to be used before August 31, 2012. Therefore, I should ask for the money up front. All the money, half, what is usually done?

For September 1, 2012-August 31, 2013, I would not be borrowing from September 2012 and if the person canceled, it would just go back to where it came from? Is that correct? I should still ask for some money don't you think?

THANK YOU VERY, VERY much! I greatly apprecaite it!

 

[maburke]

Thank you. This is the information I need.
I have a September use year and would be using September 2012 so is this correct:

For any now-August 31, 2012: I would be borrowing. Once borrowed, these points need to be used before August 31, 2012. Therefore, I should ask for the money up front. All the money, half, what is usually done?

For September 1, 2012-August 31, 2013, I would not be borrowing from September 2012 and if the person canceled, it would just go back to where it came from? Is that correct? I should still ask for some money don't you think?

THANK YOU VERY, VERY much! I greatly apprecaite it!

In the first case, you might want to call for availability, then contact the renter and ask for payment (at least part) before you make the reservation. In the second case, you can ask for payment after you make the reservation and send it to them. So you're asking them for money right away, but after they have a reservation in their hands. If they don't pay, you can cancel with no penalty to you, just loss of your time. That's why I said to be sure they're ready to commit.

 

[castleri]

I think that each rental is set up on a basis that works for the people involved. I have rented some of my points a few times and have asked for 1/2 when I make the reservation and the rest when I send the written confirmation in most cases. In a couple I was willing to wait a couple of months to get the second half but not if it put me past my banking window. I rented out the points because we were doing something else such as a trip to DL for the 50th anniversary party. I booked a room on points and used the money from the other ones I rented out to pay for airfare and tickets. I needed the money before the other person was going to WDW so asked for it up front. Some people are willing to wait until quite close to the reservation for the final payment. Most people also have a rule that the deposit is not refundable although they make work with someone if the dates of the trip need to be changed and there is room availability, Good luck with however you decide to do it.

 

[js]

In the first case, you might want to call for availability, then contact the renter and ask for payment (at least part) before you make the reservation. In the second case, you can ask for payment after you make the reservation and send it to them. So you're asking them for money right away, but after they have a reservation in their hands. If they don't pay, you can cancel with no penalty to you, just loss of your time. That's why I said to be sure they're ready to commit.

I think that each rental is set up on a basis that works for the people involved. I have rented some of my points a few times and have asked for 1/2 when I make the reservation and the rest when I send the written confirmation in most cases. In a couple I was willing to wait a couple of months to get the second half but not if it put me past my banking window. I rented out the points because we were doing something else such as a trip to DL for the 50th anniversary party. I booked a room on points and used the money from the other ones I rented out to pay for airfare and tickets. I needed the money before the other person was going to WDW so asked for it up front. Some people are willing to wait until quite close to the reservation for the final payment. Most people also have a rule that the deposit is not refundable although they make work with someone if the dates of the trip need to be changed and there is room availability, Good luck with however you decide to do it.

Thank you both very much!
I am taking 3 big trips next summer and my Disney trip is one month after a big graduation cruise on the Oasis, so I want to rent the points for cash for Disney spending money.

I would prefer to have the full money when the reservations are made since I know I am honest and not using the points but people are people and life happens and that can lead to cancellations. Is it unreasonable to pay in full at time of reservation? If so, I'll ask for full amount for my reservations from now-August 31, 2012 and September 1-August 31, 2013 I'll ask for 50% and then full by August 2012 since I want the cash for the trip in August 2012. But again, is that unreasonable to ask?

Also, as the person that is renting, is it correct I can only deposit once into someone elses account? That would be my ideal situation, doing one big deposit and having that person do their own reservation and getting the cash up front. I can only give (not get) one deposit is that also correct?

Paypal: Can I accept credit cards?

T H A N K Y O U!!!

 

[castleri]

Thank you both very much!

Also, as the person that is renting, is it correct I can only deposit once into someone elses account? That would be my ideal situation, doing one big deposit and having that person do their own reservation and getting the cash up front. I can only give (not get) one deposit is that also correct?

Paypal: Can I accept credit cards?

T H A N K Y O U!!!

You can have one transfer in or out of your account for each uy and that would be the easiest way to get the money and be done with the transacation.

 

[LindaBabe]

It's my understanding that one can't take credit cards with paypal unless it's a business account - and the commission paypal charges is larger in that case.

 

[dbs1228]

I rented for the 1st time this spring. We had points from a resale account that were banked and would expire Oct 1st. Once I posted the listing I got a few responses/requests and I guess I got lucky because the the PM I answered I was able to get him what they wanted so I made the reservation and asked for 50% payment immediately and the other 50% by July 1st ALL NON Refundable. They knew the points would expire. He actually had me set up an account with chase person to person quickpay and within 2 days payment was in my bank account. (He only has my screen name to transfer the money) I did not get any fees not sure if he did but it worked wonderful! Had phone contact also, and mailed a contract for him to sign and we signed more for a peace of mind then anything else. Good luck!

 

[js]

You can have one transfer in or out of your account for each uy and that would be the easiest way to get the money and be done with the transacation.

Thank you. I may try to just do that first for a couple of weeks and see how that goes.

It's my understanding that one can't take credit cards with paypal unless it's a business account - and the commission paypal charges is larger in that case.

Thank you very much. I guess I'll just use paypal and not worry about credit cards.

I rented for the 1st time this spring. We had points from a resale account that were banked and would expire Oct 1st. Once I posted the listing I got a few responses/requests and I guess I got lucky because the the PM I answered I was able to get him what they wanted so I made the reservation and asked for 50% payment immediately and the other 50% by July 1st ALL NON Refundable. They knew the points would expire. He actually had me set up an account with chase person to person quickpay and within 2 days payment was in my bank account. (He only has my screen name to transfer the money) I did not get any fees not sure if he did but it worked wonderful! Had phone contact also, and mailed a contract for him to sign and we signed more for a peace of mind then anything else. Good luck!

Thank you very much. I hope it works as easily for me.
I will wait until January when that is my 7 month time to call to see if I can move. Once I know exactly where we will be, I will first try to do a trasnfer. If that doesn't pan out after a few weeks, I'll try to make the ressies but I SO hope I'll be able to transfer.

Thank you all VERY much for all your help. I greatly appreciate it.
If there is anything else you can think of, PLEASE let me know.

Oh, did you do the rental contract that is on the Rent/Trade board or did you just do the ressie? When I have needed more points and rented, I think only once did I get the contract.

Thank you all again very much!