Rental Agreement/Contract

[Edventures]

I read in the rules and guidelines for renting points/reservations that a rental agreement or contract needs to be supplied to the renter. Where do I get one or an example of one I can go by? Any help would be appreciated.

Thanks,

Ed

 

[JimMIA]

A contract is not required, and practically speaking contracts for a few hundred bucks are unenforceable. However, IMHO, the biggest risk in renting for both parties is not understanding all of the issues which might come up, so some sort of a clear agreement is vital for both sides.

I also think the most important thing for any owner to understand in a rental is where their risks occur with that particular rental. The risk areas may vary from reservation to reservation, because of use year, banking deadlines, etc, etc -- but you'd BETTER know where the risks are.

At a minimum, the agreement should include

• The exact days and dates of the reservation (and I would include the days they will receive T&T and/or full cleaning)
• The names of all guests who will be using the room (your will need that for MS anyway)
• The total price of the reservation
• The method of payment accepted, including who pays any fees involved
• The date and amount a deposit is due
• The date full payment is due
• Specific expectations about what will happen if either the deposit or full payment are not received on time
• A statement that the reservation is non-cancelable and non-refundable (if you are willing to handle cancellations, you should put a drop-dead date after which there can be absolutely no changes)
• I would put a statement that trip insurance is available through third party companies, and it is the renter's responsibility to get trip insurance if they think they might need it.

There are a number of other things you might add, and I'm sure someone will post a link to previous threads which have contained specific contracts people have used.

The key -- IMHO -- is that the contract or agreement be quite clear and easily understood by both parties. I don't like legaleze which can mean one thing to one party and something completely different to the other, and I don't like mushy statements like "We'll work with you to resolve any cancellation issues." Those just give false expectations to the renter and create problems where none existed previously.

I think if you manage rentals in a professional, businesslike manner, as many here do, you will find it is mutually beneficial to both you and the people you rent to.

Good luck.

 

[rinkwide]

I read in the rules and guidelines for renting points/reservations that a rental agreement or contract needs to be supplied to the renter...

The rules also say that a point transfer cannot be a paid transaction. Anyone want to transfer some free points into my account?

In reality you don't need a contract - I use one less than half the time, depending on who I'm dealing with and how much hand-holding they need. However, if you're new to the whole renting thing it's a good idea.

We have this wonderful and little used tool here on the DIS DVC boards called "Search". I'll give you a hand with it: Click HERE

 

[RobDoc]

While some may suggest that it is not required, the DVC documents do specifically state that a contract is to be provided for rentals.

Here is a thread with some suggested rental contracts.

 

[Edventures]

Thank you very much - very helpful.

Have a great Disney day !

Ed

 

[Edventures]

A contract is not required, and practically speaking contracts for a few hundred bucks are unenforceable. However, IMHO, the biggest risk in renting for both parties is not understanding all of the issues which might come up, so some sort of a clear agreement is vital for both sides.

I also think the most important thing for any owner to understand in a rental is where their risks occur with that particular rental. The risk areas may vary from reservation to reservation, because of use year, banking deadlines, etc, etc -- but you'd BETTER know where the risks are.

At a minimum, the agreement should include

• The exact days and dates of the reservation (and I would include the days they will receive T&T and/or full cleaning)
• The names of all guests who will be using the room (your will need that for MS anyway)
• The total price of the reservation
• The method of payment accepted, including who pays any fees involved
• The date and amount a deposit is due
• The date full payment is due
• Specific expectations about what will happen if either the deposit or full payment are not received on time
• A statement that the reservation is non-cancelable and non-refundable (if you are willing to handle cancellations, you should put a drop-dead date after which there can be absolutely no changes)
• I would put a statement that trip insurance is available through third party companies, and it is the renter's responsibility to get trip insurance if they think they might need it.

There are a number of other things you might add, and I'm sure someone will post a link to previous threads which have contained specific contracts people have used.

The key -- IMHO -- is that the contract or agreement be quite clear and easily understood by both parties. I don't like legaleze which can mean one thing to one party and something completely different to the other, and I don't like mushy statements like "We'll work with you to resolve any cancellation issues." Those just give false expectations to the renter and create problems where none existed previously.

I think if you manage rentals in a professional, businesslike manner, as many here do, you will find it is mutually beneficial to both you and the people you rent to.

Good luck.

_________________________________________________________________

Thank you so much - You have been a great help !

I appreciate it


Have a great Disney day

Ed