rental question

[donutz022]

i understand if i rent my points to someone i have to make the reservation in there name and i would want a deposit for that. but am i able to cancell the reservation if i dont get final payment if the resevation is in there name.
tia

 

[Disneypubgal]

you are in control of the reservation until they check in... I would get payment in full up front... this way you won't have to worry about banking or holding if things don't work out

 

[FindTheMickeys]

I would think absolutely. They are your points. You make the reservations and any changes that the renters might need, so I would think that you would absolutely be able to cancel the reservation. Make sure you can recoup your points though (banking window) when you consider the due date of the final payment...

 

[ice cube]

Hope the pm I sent you helps..

 

[CarolMN]

i understand if i rent my points to someone i have to make the reservation in there name and i would want a deposit for that. but am i able to cancell the reservation if i dont get final payment if the resevation is in there name.
tia

Rentals are agreements between the owner and the renter. All terms are negotiable. My advice is to put all the payment terms in the written agreement so that both parties clearly understand the transaction. Include the renter's recourse (if any) if the renter has to cancel/back out of the trip.

Many owners require full payment upon renter's receipt of the confirmation. Others allow payments. Most consider renting to be a non-refundable transaction.

As noted above, the owner is in total control of the reservation until the renter checks in. Once the renter sends payments, he/she risks that an unscrupulous owner will cancel the reservation and keep the money. There needs to be some level of trust on both sides of the transaction for it to be successful.

If you haven't already, read all of the Sticky Threads on the R/T Forum (even if you don't intend to use it). There is some good information there on renting DVC reservations for both the owners and the renters.