questions about renting points

[reesecup]

I want to rent out some of our points, but they are banked and must be used by Oct.1 , 2006. How do I do this? Do I make the reservation for the people? And can I even do this? I have about 100 points I'm wanting to rent out. Thanks! I hope I posted this on the right board. I know the rent board is just for renting out , not for questions regarding it.

 

[TnRobin]

Yes, this is the right board. You will need to make all arrangment for your potential renters. Also, make sure you put all you conditions in writing so everyone is on the same page. For example, what happens if they want to canel.

Just place you desire to rent points on the rent board, or just respond to someone who is looking to rent points

 

[calypso*a*go-go]

When you get someone that responds, just call MS and make the reservation in their name. It's really easy. Since you haven't rented them out before, it might be wise to try and find someone to rent to that has already stayed at DVC and is familiar with the ins and outs. I would place an add on the rent/trade board now offering a reservation anytime between 10/05 and 10/06.

 

[reesecup]

Thanks so much for the advice guys!!!

 

[JimMIA]

I want to rent out some of our points, but they are banked and must be used by Oct.1 , 2006. How do I do this?

The first thing you should do is read the Rent/Trade Board FAQ and the sticky entitled "A Word to the Wise." Both contain good info. I would also look at some of the other threads about renting, especially those which discuss issues people sometimes have in renting.

The better educated you are, and the more knowledgeable the renter is, the smoother things will go. People naturally equate renting points with making a simple hotel reservation and that misconception probably causes more problems for renters and owners alike than any other issue.

Renting points is a great way to get a wonderful vacation bargain for a knowledgeable renter whose plans are solid. It is risky for both parties if one party doesn't know what they are doing, or the renter is all over the place changing plans. A lot of owners experienced in renting points will not rent to someone who appears a) not to know what they are doing, or b) all mixed up about their plans.

It is very important to have a very clear understanding with the renter about several issues:

• Renting points (or more accurately, renting a reservation) is nothing at all like making a hotel reservation.
• Any rental agreement is strictly between the renter and the DVC owner, and neither Disney nor DISboards will get involved in any disputes. There is no established standard of renting, which means you are free to reach whatever agreement you feel comfortable with...and also that anything anyone else does has nothing to do with your particular rental.
• There are serious potential consequences with any changes in plans. Regardless of how willing you may be to accommodate changes in plans, your ability to make changes may be severely limited, and may pose serious risks to you.
• There should be a deadline after which no changes will be considered, and any monies paid become completely non-refundable. This is not as hard-nosed as it sounds -- it allows the renter to purchase trip insurance to protect themselves from their own changes in plans. Trip insurance will only reimburse them for non-refundable deposits.
• There should be clear understandings about when any monies are due to be paid to you.
• There should also be clear understandings about what will happen if payment is not forthcoming according to the schedules agreed to.
• You should provide the renter with a copy of the confirmation, showing the ressie in their name, as well as the phone number for MS, so they can confirm things independently.

Whether you achieve the above through the use of a formal "contract," or just through some clearly-written "policy statement," it is vital that both parties understand the process thoroughly. Successful renting requires both understanding and trust by both parties.

I think you should also be thoroughly aware of the nuances of use year, banking deadlines, "reservation points," and "holding account" before you get involved in renting. Those things matter, and it's important to recognize any issues in advance of problems -- rather than having to come back here and say "HELP! I didn't know this was gonna happen!"

I'm sure some of the more experienced folks here will have a lot of other suggestions.

 

[JimC]

Here is a link to a good thread regarding point rental agreements:

http://130.94.75.33/showthread.php?t=895654&highlight=rental