Reneging Renters - How to deal with them?

[browniemtb]

I really hope I don't get to a point where my points are distressed. But you never know. Right now UY06 is gone and part of UY07. After telling friends and family that we bought in and explaining to them the rental option.......I may be more inclined to rent to them from now on.
Brownie

 

[crisi]

I feel your pain. Been there, done that. There is no real way to stop it. The only thing I can suggest is that before you make them a ressie, you look at their other posts. Sometimes you can see that they have been told on another Board that they should be able to get $6/point. Or you can see that they have a reservation at Holiday Inn and are trying to get cheaper. Or they are bragging that they go every 60 days and "always" can find somebody with cheap points on the rent/trade board. Or they can get a Florida resident or AP discount but refuse to pay that kind of money and "know" they can do better. In retrospect the couple of times I was jerked around, checking would have shown me one of these patterns.

I'm not talking about the folks that just have mistaken expectations - they will not make the commitment once they know the price. There are people that apparently feel they are smart consumers by playing games.

Currently, what is apparently done to raise the price of points is lobbying here. It would probably be a far more effective strategy for those that want $12 a point to hang out on the budget board/family board/resort board to correct inaccurate assumptions (its easy to rent for $6-8) and argue for a higher price point (you want BCV over Food and Wine, you will be best served by finding a BCV owner early and securing the reservation by offering $12-13).

 

[ericamanda01]

DH and I rented points, and were so intriged with DVC we joined in. But it never occured to us to back out of the deal. I don't understand putting the owner through all the trouble of making the reservations and then not going through with it. That it just plain rude. I really think there should be some sort of feedback system. I know that this isn't a site that makes a profit off of the rent/trade board, but to protect the members it would be a great benefit. I for one would support it.

Something I don't understand as a new owner and as someone who is new most things DVC, why there isn't a price difference for renting points based on seasons. I mean why is it the same price for a week in Sept. as for a week in Dec.? Has the price for point rental always been the same?

 

[DrTomorrow]

If DVCers renting their points would ask 12-13/pt, it may help eliminate much of the bottom-feeding that goes on. Some renters are simply looking for a deluxe resort at an All-Star price and too many members give it to them. It's our own fault. A consistently higher average rental rate would force some seekers to stick with their value resort booking!

Or it might increase the default rate, as bargain hunters snag $12 points "just in case" then continue to bargain hunt, cancelling if/when they get $11/point or less....

 

[DrTomorrow]

Is there a way that all people who regularly rent out point to other people (like me) can set up our own network/notification system to let others know about these "shopaholics"

Sure there is! Get your own website (hmmmm www.rateDVCrenters.com [had to make sure this URL didn't really exist! ] ), get some software, start registering users and you're ready to rate the renters!

 

[spencerbomar]

50% down at time of reservation and other 50% after written confirmation is great. Non-refundable on 1st 50% is a motivator for those who are "fishing" for a low rate on an excellent and very much in high demand product. Also, I believe $11/pt. is the minimum I will ever "rent" points for as well. There are far too many people who want to rent points compared to those who are willing to rent out their points. If someone is dumb enough to rent points out for less than that, oh well.

Question: I can accept paypal, but there is a limit of $500/month to withdraw from it without having to pay for an upgraded fee based account. Any suggestions? Certified/cashier's check on 2nd 50% payment?

thanks.

 

[gblast123]

I just added up all my rented points and looked at the number of points that were "reneged". It amounted to more than 20%.


There were a few Biggies that my have skewed the results, but this seems like the correct amount.

Just a brief survey, (don't put in total number of points rented in your post, that is private) but do the following: add up the total number of points that people reneged on and divide by the total number of points actually rented.

I suspect that it is far more than 10% but I am just interested.

 

[budbeerlady]

I would love to see a feedback or something on renters and owners. I would love to rent but I am worried that how would I know the person I am renting from is reliable? As a renter I would have no problem with a deposit due with in a couple of days, even overnight mail only costs $12-13 if sending a check for something. And with Paypal now days it shouldnt be an issue. I has someone offer to rent me points, but they only had 5 post on the boards here, I would love to have more info than that to work with!

 

[spiceycat]

how about a contract?

that say if you don't receive payment by such and such - the reservations will be cancelled....

I have only had to post once on the dis rental site - and that just about made me mad...

I was upset in the first place - my brother cancelled about 4 weeks before (he is very, very good at that and yes I should have learned by now)....

I got one person who agreed to my price and everything - then suddenly they wanted a 1-bedroom (this was Thankgiving week standard studio).... anyway I told him I found someone who wanted what I had....

some renters you just have to walk away from - yes finding someone else is more work for you. but feeling like you got taken from a renter is a bigger problem.

 

[halld6479]

we entered into renting points from a person here on the board he was new to renting and so were we at renting, we worked with him and got down payment to him as he wanted and signed his contract and sent him the balance due when he ask then we decided to buy in to ssr with the friends and family we contacted him and ask him if he would like to be our friend and he said sure so we used him at no point did I even consider cancelling or backing out of the orginal deal, yes we got 05 pts and banked them. but out of respect I would have never considered even asking to get out of the deal for our may trip, we will just use our points at ssr next year then. excuse to go again lol

 

[MrShiny]

Question: I can accept paypal, but there is a limit of $500/month to withdraw from it without having to pay for an upgraded fee based account. Any suggestions? Certified/cashier's check on 2nd 50% payment?

thanks.

Easiest way - just take out $500/month, until it is all transferred. Keep in mind that while it is in your Paypal account, you are earning a relatively decent return too.

 

[LIFERBABE]

I agree with Johnnie too! We have ourselves to blame.

We went down the wrong path, comparing DVC costs to Value Resorts. Now the DVC resorts are the New Value Resorts!

As long as we keep rental rates low, we will attract those that want to pay Value Resort prices and stay in Deluxe Accomodations. Then when Disney offers free dining, they jump ship and go back to PoP because they were going to stay at PoP anyway before they found out they could stay at BCV for the price of Pop! LOL!

But if you rent to someone that was prepared to pay for Y&BC in the first place or BWI, they understand the value in what rentals have to offer and know they are receiving a fair deal.

Even at $12 per point, my 5 Sun-Thurs night BWV Standard Studio ressie next month would rent for $135 per night!! So I dont see the argument at all to support $10 per point not even for distressed points!

 

[dalt01]

there is another side to this, i rented points twice in the last month, one trip in oct for us and one for our grown daughters who popped up and wanted to go, guess whos paying for that, but i digress, it was for 11 a point and after i agreed to that i got other calls from people who had no problem throwing my owner under the bus by low balling his figure, we are people of principle and did not even consider backing out for a lower price. my point is that owners can cause their own problems too, most renters are not "bottom feeders" as one has suggested.

 

[Daddio]

Wow, this is ONE HOT TOPIC.

I am a new DVC owner and after watching the rent/trade area for a few months decided to rent out some extra points because the incentives for buying lately have put me in a very plus situation.

I decided that I will not rent for less than 11.00 p/pt and in the first three days have rented out quite a few points with all payments up front on credit card. And, I post and repeat a no refund policy, all sales final. So, I know that there are people who value the points.

I have also noticed over the past week that many people have increased their prices from the average 10.00 to 11.00. That makes me happy because I am about to go to 12.00 next month.

There are enough buyers to go around. Some will deal with people like me with higher prices and stricter ground rules and some will beat the cheaper people to death.

Variety is the spice of life.

 

[rigsby25]

I've had to rent twice. Once it was for only 13 points need to complete a reservation. I paid 130.00 via paypal, and the owner had the points in my account within 10 minutes. Just recently, I needed to rent about 84 points. The owner requested 25% before he would make the reservation. When he made the reservation, I sent him a check for the rest. Then he sent the confirmation. I am hoping everything goes okay, but I much prefer the fast version. But this time, the points were banked or borrowed or something, and could not be transferred. The owner made the reservation for me. I don't think anyone should make a reservation without at least 25%. And then cancellation if the rest isn't received 30 days before. No refund. If you decide later that the renters need to cancel for a good reason, it would be up to you to refund the money if you thought they were on the level, but at least you would be in control.

 

[pumpkinboy]

Wow, this is ONE HOT TOPIC.

I am a new DVC owner and after watching the rent/trade area for a few months decided to rent out some extra points because the incentives for buying lately have put me in a very plus situation.

I decided that I will not rent for less than 11.00 p/pt and in the first three days have rented out quite a few points with all payments up front on credit card. And, I post and repeat a no refund policy, all sales final. So, I know that there are people who value the points.

I have also noticed over the past week that many people have increased their prices from the average 10.00 to 11.00. That makes me happy because I am about to go to 12.00 next month.

There are enough buyers to go around. Some will deal with people like me with higher prices and stricter ground rules and some will beat the cheaper people to death.

Variety is the spice of life.

I think you are wise to institute the policies you have. I also checked out the little site you have to rent points: pretty nifty. I think that by charging a little more you will get better customers, expecially if they know up front that all sales are final (really make them value it).

It's funny, my Mom used to run a very nice little Bed & Breakfast on the coats of Maine (in my hometown), and had a heck of a time with certain guests in the early years of the Inn, for example, too many people in a room, folks smoking in the rooms, loud "adult" activities, damaging the antique furnishings, tracking in sand, all that kind of stuff that makes running a quaint B&B a royal pain. However, once she had raised her prices (almost doubled them), she just got a better class of guests apparently, since she no longer had any these problems (for the most part). It really was striking. Plus, her margins went up making it possible for her to invest in more antique furniture, nice oriental rugs, and improve the complimentary toiletry packs; plus she started putting out tea, lemonade and white wine in the late afternoons (at about tea time).

So maybe raising prices and putting in harsh conditions is a way to improve the rental experience from our perspective as owners. I dunno.

 

[dalt01]

i really dont think some of you "owners" realize how elitest you sound with your, we would like to cater to a "better class of people" talk. does DVC ownership breed snobbery, its like the old visual joke with the two women cutting up a third one who is beside them and she says you know im standing right here dont you? some look at this board because they are intrested in renting or buying in and they read this and feel like a second class citizen. im not being *****y i really felt a little assaulted and insulted even though i am not a perpitrater. i deal with the public on a daily basis on a large scale and ive found some who try to do that cant deal with the human condition and get a more private line of work. so i agree with an earlier poster, if some of you cant take the heat of renting points out dont do it at all cause there will always be someone who offends your senses.

 

[JimMIA]

Don't rent. Then it will be impossible to get jerked around by prospective renters.

That's my plan too! I know there are a ton of wonderful renters out there, but the whole rental process is more trouble than it's worth for me. I'd much rather use my points.

 

[Slakk]

i really dont think some of you "owners" realize how elitest you sound with your, we would like to cater to a "better class of people" talk. does DVC ownership breed snobbery, its like the old visual joke with the two women cutting up a third one who is beside them and she says you know im standing right here dont you? some look at this board because they are intrested in renting or buying in and they read this and feel like a second class citizen. im not being *****y i really felt a little assaulted and insulted even though i am not a perpitrater. i deal with the public on a daily basis on a large scale and ive found some who try to do that cant deal with the human condition and get a more private line of work. so i agree with an earlier poster, if some of you cant take the heat of renting points out dont do it at all cause there will always be someone who offends your senses.

If it walks like a duck and talks like a duck it ain't a chicken.

I have no issue with the folks who rent points for special occassions or to try out a DVC property to buy. The point amounts are ridiculously low and should be much higher.

I am amazed at some people wanting prime rooms at prime times then wanting them at distressed level or whining they are *stuck* at a resort they do not want when they are paying PENNIES ON THE DOLLAR. Or complaining that they are not having FREE dining like the AS people.

And when I hear people say they prefer to rent because it is cheaper then buying - well I sure hope THAT will be changing soon. But I do not blame renters I blame owners for giving away points

 

[CarolA]

I can definitely see why you feel that way, but I would think that DisBoards does make some money indirectly from each rent/trade transaction based on the willingness of TSS to sponsor the DVC Forums.

The Rent/Trade board is a higher traffic board and is a great source of leads for TSS. Without being able to generate those leads, I doubt TSS would be willing to pay as much for their sponsorship of the DVC Forums.

I somehow don't think there is a direct relationship here.....


Now I have no problem if the DIS boards wants to start charging a listing fee. Personally since some folks are running a business over there then that only seems reasonable to me...