Rental Experience Advice Needed

[ilovefh]

I'm thinking of renting out some points, but I need some help from people who have done it.

Here is our situation. We moved to FL in June for a change. Partly because our TTC journey had been so crazy we figured we'd try something different and make a decision not based on "when we have kids." Our original plans were to get jobs and stay here for two years. At the end of two years we'd reevaluate whether we want to stay or move back and whether or not we wanted to try for kids again. We were going to use our time to travel more, take some cruises, stay at Disney more often. And no pets in this time period either!

Well July 4, on our way back from the MK fireworks we found a cute little dog in the road. We did everything we could to find her owner and nothing. She worked her way into our hearts and we kept her. (The ASPCA commercial where they have the captions and under the last dog it says "Abandoned and dying of a broken heart" sealed the deal!)

The end of August we found out I was pregnant.

So our entire plans have changed! This is why I need rental advice. We haven't been able to stay at Disney once since we moved. My parents used some of my points, but I still have *points and I just don't see using them. I also can't stand the thought of paying dues at $100 per month for something we're not using.

In the long run we don't know if we'll stay here or move back so we don't want to sell out points. I bought them for around $60/point so I can't see selling and repurchasing when we need them.

I know rental transactions take a lot of trust. The thread about the owner who had the renters skip out on their charges at the resort has terrified me.

So if you rent, how do you make sure you're covered with that kind of thing? What kind of advice can you give to someone thinking of renting?

 

[Chuck S]

Well, I would think about transferring the points to another owner, rather than renting a reservation to a stranger. While an owner could stiff you on some $, by not paying you for the transfer...you don;t have to worry about unexpected charges from Disney for unpaid room charges, or negotiate how to add the DDP...once the points are transferred, your responsibility ends.

 

[ilovefh]

Well, I would think about transferring the points to another owner, rather than renting a reservation to a stranger. While an owner could stiff you on some $, by not paying you for the transfer...you don;t have to worry about unexpected charges from Disney for unpaid room charges, or negotiate how to add the DDP...once the points are transferred, your responsibility ends.

Thanks! That's just the kind of suggestion I was looking for!! Quick question...can you bank transferred points? Our UY is * so they are set to expire then. If we transferred them to someone could they bank them for next year?

 

[Deb & Bill]

Thanks! That's just the kind of suggestion I was looking for!! Quick question...can you bank transferred points? Our UY is * so they are set to expire then. If we transferred them to someone could they bank them for next year?

Yes, you can bank transferred points. But you cannot transfer banked points. You are limited to one transfer per use year. Transferred points will retain the UY and resort they came from.

 

[starbox]

Congratulations on the baby! We went down that TTC road and I know how hard it can be?

 

[aggiemullins]

Don't be scared! Be cautious, but not scared.

Something to remember is that they're (the rentee) taking a MUCH bigger risk then you are. You are the keeper of the points and the reservation. While yes, Im sure it has happened where people have left charges on the room, I'm pretty sure it is a tiny fraction of the total rentals on the R/T board. You would be hard pressed to find more then a handful of threads on here where the renter or even the rentee had a transaction go bad, especially considering the thousands of transactions that occur as a result of the R/T board.

Renting points definitely takes a level of trust on both sides. I've met many many people renting points. They are all different and every transaction is different, but I can tell you one thing in common is that I've never rented to someone I didn't like or have a good feeling about. You are in control and it's a seller's market. You essentially make the rules. If you meet someone you're not sure about, wait an hour and you'll have someone else willing and ready to put down money for your points.

You can tell a lot about a person before you actually rent to them. Mainly when they give you their contact info and names (and ages of kids) to put on the ressie. But you can also tell a lot about them in how they respond to your emails, prompt payment, etc. If you're still unsure about them through email, require a phone call to finalize the transaction.

While it is possible for a person to stick you with a bill, it's difficult to do because Disney requires a working credit card before they'll allow someone to charge to the room. It is in essence the one risk we as renters take. In comparison to the risk the rentee takes, it's a small one.

Lastly, make sure you use a contract. While it may not be worth the paper it's written on if something goes bad, it will spell out all your rules and give the rentee a sense of what to expect from you and Disney.

In a perfect world a transfer of points is the best option, but remember, you can only do one transfer per use year, total. Unless you can find someone wanting all your points in one shot, it's not the best option. Finding that one special person is difficult because they have to be members to transfer your points to and most DVC members cruising the R/T board are looking for just a few points to supplement their own. The ones needing the large amount of points and more willing to pay $10-$12 per point are the ones who are not members.

I'm sure there are probably hundreds of threads on this board about renting, but here is a recent one that address some of your concerns and even has a sample contract you can use:

http://www.disboards.com/showthread.php?t=2634609

Good luck.

 

[2binak]

First off all OP - Congratulations on the baby!!!! We've had issues TTC so I can sympathize on the toll the journey takes.

Secondly, I agree with the pp - don't be scared, just be cautious.

We've rented to family, friends & DIS members (one of whom has become a friend after repeated rentals). We always use a contract, even when renting to family & friends. While the contract does not protect you from having a renter walk out and leave you with a bill for their charges, it can be used to prove to a court that they knew that they were responsible for any and all charges incurred while staying on your points. I wouldn't rent to anyone without a contract.

 

[Deb & Bill]

...We always use a contract, even when renting to family & friends. While the contract does not protect you from having a renter walk out and leave you with a bill for their charges, it can be used to proof to a court that they knew that they were responsible for any and all charges incurred while staying on your points. I wouldn't rent to anyone without a contract.

That's good because Member Services requires that you use a contract when you rent out a reservation (it's in the Public Offering Statement). And it also requires that you notify MS that you are renting the reservation.