Quick question about renting points...

[cgcruz]

This is my first time renting points. Of course, i'm a little nervous giving someone hundreds of dollars, for a promise. I have no reason not to trust my rentee. Let's say if something were to go bad and my reservation money just disappears and so does the rentee, would my credit card company honor that as a fraud case and give me my money back. Luckily my rentee accepts credit cards, so makes me feel a little safe. I know visa cards all seem to have anti-fraud guarantee. Although, there is no real rental agreement written on paper, which now I feel I should have asked for proof. Again, this is just a what if scenario.

Thanks!

 

[TnRobin]

You will need to call your credit card company with that question. They will let you know whether it is covered.

It is never too late to ask for something in writing. I would jot down all the information as you understand it and then have the other party review it and sign it. That way you know both of you are on the same page.

 

[byoung]

We rented a few years before joining never had a problem.

 

[Tink10]

I was scared the first time I rented points as well, but the several times that I did it, it all worked out well.......

I think the vast majority of people renting points here on the DIS are honest. It's important to get references and if you're renting from someone on the Dis Boards, it's a good idea to see how long they've been here by checking the number of posts that they have. I've only heard of 2 problems with point rentals.

Because you don't have a contract, be sure to keep every email you send & receive pertaining to the transaction. But like Robin said, it's never too late to ask for something in writing.

Many credit cards do have purchase protection, but many have time limits in which you can file a claim, so it's important that you check with your credit card company to see what that time limit is. If you're paying with a credit card via Paypal, then you have the Paypal Buyer Protection there, but again, there's a 45 day window to file a complaint.

 

[spiceycat]

they in the case I won't be surprised if the rentee has a contract he/she could send you.

especially if they use credit cards.

call or email and ask for one.

most rentee don't mind. I certainly don't.

besides then you know what is covered and what is not.

 

[Callalily6]

I sell on Ebay all the time and this situtation is weird - its not a normall purchase. A better way to check (and not worry) is to call DVC reservations and ask for your confirmation number. Or have your rentee send it to you and then you call and verify. The guy I rented from was great. He did it with less than 30 days notice, and didnt want payment until my conf. papers arrived in the mail. As soon as I verified the ressie, I sent his money. So it all worked out good. If you have no res. # or fax or something after 10 day or so, contact your rentee for the info. THey should have it by then.

 

[JimMIA]

I sell on Ebay all the time and this situtation is weird - its not a normall purchase. A better way to check (and not worry) is to call DVC reservations and ask for your confirmation number. Or have your rentee send it to you and then you call and verify. The guy I rented from was great. He did it with less than 30 days notice, and didnt want payment until my conf. papers arrived in the mail. As soon as I verified the ressie, I sent his money. So it all worked out good. If you have no res. # or fax or something after 10 day or so, contact your rentee for the info. THey should have it by then.

Just to clear up one point -- the DVC owner receives the confirmation number when they make the reservation. They should be able to give you that, and the Member Services phone number, right away. If they don't, it's undoubtedly just an oversight, but I'd ask for it. Even without the actual number, MS can look the reservation up by your name and give you all the relevant information.

 

[dianeschlicht]

I just wanted to interject that the rental arrangement is not risk free for the owner either. Points are a precious commodity to most of us, and we don't want to risk losing them or having them put in reservation status by a renter who doesn't understand the system. That's why most renters require payment up front.

 

[KellyDVC]

You may wish to ask for references, look at their DVC history, and talk to them over the phone. If the DVC member has done this before, some of their previous renters may be willing to provide references. In addition some have often suggested that the number of posts and length they have been DIS members can also provide a level of comfort. As an experienced DVC member and rentee, I have always offered, but not required, a personal phone conversation to discuss the details that may never get typed. That working phone number can also be at the ready when checking in as well.

This arrangement is all about trust. An entire industry has been based on the overwhelming trust between buyer and seller (ie ebay). As President Reagan said (I think) while discussing nuclear disarmament treaty with the Soviets, "Trust, but verify". I am sure all will be OK in the end.

Good Luck

Brian

 

[Dean]

It is about trust, I agree in general with the above. Just make sure all is spelled out including any deposits, when the full payment is due and any cancellation policies. I assume any CC usage is through Paypal. If so, the transaction is not directly for the rental and as such I wouldn't think you'd have any luck disputing the charges. If you do dispute them, paypal will close your account I'm told. I also agree that a contract isn't that helpful other than to simply spell out what's expected of each party. I do not believe it gives you any significant legal protection.

 

[CarolMN]

..(snip)..I also agree that a contract isn't that helpful other than to simply spell out what's expected of each party. I do not believe it gives you any significant legal protection.

Even if it does, it would probably cost more to enforce than it is worth.

Renting is all about trust - on both sides. But IMHO, the renter bears more risk than the owner in most situations.

Best wishes -

 

[Dean]

the renter bears more risk than the owner in most situations.

Absolutely, assuming the renter has put themselves in the proper situation. One of the best ways a renter can protect themselves is to concentrate on renting current use year points (not banked or borrowed) in the first half of the use year.