Rental Rates/Concerns

[Maistre Gracey]

Originally posted by Dean
Actually that may not be true. When I've traded in, I've gotten all the DVC perks including welcome home and the members packet. They recognized I was a member and treated me like one. Jim's method is very sound, especially for off season.

I agree that this is a good plan from a financial standpoint. I also do not doubt that Cast Members treat you the same.
I am speaking purely from my own psychy on this. I just wouldn't feel the same, regardless of how I was treated.
Corny? Perhaps, but it's the way I feel.

MG

 

[ripleysmom]

"No, but is is an area with access to a lot of people very knowledgeable about timeshares. Really the only area that has that much potential."

Okay.....so what you are saying is that they know how the litigation would turn out because they are the TUG?


"The idea that DVC is somehow different than the rest of the timesharing world is distasteful to me and unfortunatley, confirms the reasons why DVC members tend not to be very highly thought of in the general timesharing community. They sometimes think they're better than everyone else and don't have to look at things the same way or follow the same rules. Like in exchanging discussions where DVC members assume they'll be first in line for ANY exchange."

Who said that DVC is different or better? What I asked was since when did TUG become a court of law.

 

[FLYNZ4]

Originally posted by Maistre Gracey
I agree that this is a good plan from a financial standpoint. I also do not doubt that Cast Members treat you the same.
I am speaking purely from my own psychy on this. I just wouldn't feel the same, regardless of how I was treated.
Corny? Perhaps, but it's the way I feel.

MG

MG,

I do not think I would feel an "less special" if I was to trade into DVC via II... especially since I am a DVC member already. As a result, I am learning a lot about DVC... and like I said earlier... I wish that I joined earlier.

Within my other condo... we can reserve our units in various ways... we can use our points, we can rent excess inventory via bonus time, we can actually even do II exchanges for our own properties... and believe it or not... if done last minute... it is cheaper than using our own points. We can also use gift certificates... a mechanism called FAX time... or even renting time from fellow owners. I have reserved time at my own resorts using most of the above methods... and I never felt any less as an owner by doing so.

I suspect that if I ever get an II exchange into DVC... then I will still feel just as much an owner as if I use my points. However, like said earlier... I joined DVC because I assume that is the way I will take most of my WDW vacations... and I will doubt that any II exchanges will clear.

/Jim

 

[CaptainMidnight]

Originally posted by Richyams
I really wish there was a way to end renting for profit. I would definitely support a rule only allowing points to be rented for dues.

I think renting for only dues is too low. I don't have a problem with $10-$13 per point. Seems fair for both sides.

 

[Dean]

Originally posted by ripleysmom
Who said that DVC is different or better? What I asked was since when did TUG become a court of law.

And I noted it isn't a court, but then neither is the 9th circuit court truly a court in some ways, LOL. Seriously, TUG is about the only place where there are a lot of people accessible to the general population where there is so much general knowledge and information about Timeshares. There are various email groups related to individual timeshare systems, there is the Timeshare Beat and Timesharing Today, all with their own information to share, most of it good and helpful. But TUG is the tops for timesharing information, bar none. But like DIS, it is a collection of individuals and as such, some of the info is good and some bad, much like calling the IRS info line only the info is consistently much better.

No one would actually say they are better but it's obvious that some think they are. One should own what they enjoy and works for them. They should have faith in what they own but also have their eyes open, an area DVC members tend to be short on (eyes open). The attitude "who does TUG think they are" is unfortunate and just confirms my feelings.

 

[TLKelecius]

This is my first time renting points from a DVC member. Has anyone ever heard of prospective renters being scammed? Once you have the confirmation in hand from Disney is there anything that can prevent the owner from cancelling your reservation but still keeping your money? I know I'm being paranoid, but I just want to make sure if there is anything I should know about or precautions that I can take before forking over a bunch of money? Any advice you could give me would be greatly appreciated!! Thanks!

 

[lenshanem]

Yes, I have heard of people being scammed BUT...
the chances are very slim. The people renting out are also in a position to be hurt if you cancel on them too late, etc.

My advice is to make sure you do a contract, pay only a deposit until you get your confirmation, THEN pay the remaining balance.

I rented once before joining and she was hard to get hold of, never sent confirmation, etc. Made me nervous to say the least. In hindsight, I should have not paid in full and requested a contract.
Everything was fine, though when I checked in.

 

[Chuck S]

I don't think your concerns are paranoid, there is trust required on both sides of the transaction. Yes, there are rare circumstances of people being scammed, but the vast majority of transactions go off without a hitch. My recommendations would be to rent from someone with a history on the boards here and have a fairly specifically worded contract listing actions of both parties and what recourse both parties will have should either fail to perform. Also be sure both parties has legitimate and current contact information.

Once you have the contract in place with an owner with which you are comfortable, I would relax.

On a personal note, if I were to rent to someone, I would want final payment at least 2 months prior to arrival. It gives a cushoin for a slightly late payment AND if I would need to cancel the ressie it would no go into a "holding" account status.

 

[Scoootch]

Hi there

Sorry I cannot comment from personnal experience but most of the reports I've heard from both members who've rented out their points and guests who've rented from members have been positive. That being said though, it takes a great deal of trust from both parties. Technically, the reservation being made is the DVC members ressie. It is being made for YOU but the DVC member is in complete and total control and is still the owner of the reservation. Therefore, yes as you ask, the member can cancel on you (although hopefully that would not happen to you). I would suggest getting references from others who've rented from the member you intend to rent from and contact #'s on top of getting the person you rent from's email and only go forward if you are completely comfortable.

Most of the reports I've heard of have been win/win situations but as I mentioned, it does take a great deal of trust.

Best of luck!

 

[CarolMN]

Renting requires trust on both sides of the transaction. The DVC owner retains complete control over the reservation. DVC/Disney will not get involved in any dispute.

As lensanem posted, we have not heard of more than one or two renters being scammed. Ask for references and check them out.

If you are the type of person who will lose sleep over the possibility of being scammed, the savings are probably not worth it and you should not rent.

Best wishes -

 

[lenshanem]

I did a quick search on the Internet and found this example of a contract-
http://travelrap.com/rentsamp1.htm
Why not contact them and ask them if they mind agreeing to a contract to cover both sides, use you hubby as an excuse or something. Tell them he doesn't understand the DVC thing and feels nervous.
I think you should be fine since you already have a confirmation letter in hand.

You should have a wonderful time and renting is a great deal!

 

[bobbiwoz]

I hope you have a successful renting experience, and that you come back here to post that you loved staying at DVC (where will you be staying) that you took the tour and are thinking of buying into DVC! We haven't rented points either way, but lots of people here have mentioned that it's a win-win situation.

Pixie Dust for you!

Bobbi

 

[DownNeckBoy]

As Henry Kissinger once quipped in response to a question about President Nixon, "Even the paranoid have enemies!"

 

[Mary Ellen]

Laurel/TLKelecius -

Doing a 'search' on your posts, I see that you are looking for a OKW Grand Villa at a VERY popular time of year for DVC members, the likelyhood of your renting this year is pretty small. Those usually book up 11 mo. out for mid-week early December.

If you can't do it this year and want to try again next year, the member you rent from will need to make the ressies in Jan 2005 for Dec 2005. I'd suggest looking for someone with a history here on DIS - they've been a member for some time and a number of posts to their name.

The person who was 'scammed' recently appears to have rented from someone who only had a handful of posts.

Good Luck -

 

[Cruelladeville]

If it's true that the scammer got his "just desserts" then I am glad about that. He gave every member a bad rap that wasn't deserved.

Many of us have rented out our points at one time or another, and usually things go off without a hitch. If you don't feel confident about the person from whom you are renting, then you shouldn't rent from him/her. The transaction requires trust-- many of us have been cought by a renter asking for a studio for a certain date, and then when you reserve it, the renter says "I never told you to rent it." What's up with that?? Why agree to a price, and ask for a certain date if you don't want to actually rent it?? Or the renter who wants you to hold the ressie while they decide if they really want it or not. So, you see,trust is a two-way street.

 

[nuthut]

Originally posted by Disney1fan2002
WOW, you have alot of inside information. I was just wondering though, if Disney will not get invloved in rental disputes, then why would this persons contract be reposssed?

Not trying to start anything here, I am just curious. Thanks!

The owner was late in either his mortage or dues payment (or both) if Disney repo'd the contract.

 

[crisi]

Or his behavior caused the court to put a lien against it or otherwise order repossession (perhaps to pay off one of his victims)....or Disney decided that he was violating the terms of his contract via the rather fuzzy "commercial use" clause - they probably have some other language in there that would allow repossession for fraud.

 

[CarolMN]

Originally posted by crisi
Or his behavior caused the court to put a lien against it or otherwise order repossession (perhaps to pay off one of his victims)....or Disney decided that he was violating the terms of his contract via the rather fuzzy "commercial use" clause - they probably have some other language in there that would allow repossession for fraud.

If the contract was repossessed, it was undoubtedly for failure to pay either the mortgage or the annual dues.

It would be no different than a bank repossesing an auto for failure to make payments. Banks don't repossess collateral for any other reason that I know of. They do not care what kind of a person you are (or what you may do for a living) as long as you make your payments.

There is no language in any document that I signed to purchase my DVC contract that mentions repossession for any reason. We paid cash so I do not know what may have been in the finance agreement, but based on other mortgages, I'm willing to bet that repossession only occurs if one fails to pay.

Best wishes -

 

[lenshanem]

OK, I think I recall this. I ~think~ he knew he was about to lose his DVC cause he wasn't making payments or something. So he rented out all his points to make money off of it, but then DVC took it away unknowingly to those he rented out to. Does that make sense? So those people were left with no ressies.

 

[Chuck S]

Shan, that seems to be basically what I recall hearing of that, too. Except that the renter had showed up at the resort, confirmation in hand. Disney reached some type of lodging agreement with the guest, though I don't remember the details (if they were ever posted?). Imagine how awful it would be to show up with a ressie confirmation you paid for then be told it was no good.

But to the OP, as long as the owner has a good history of posting on these boards, and you have a well written agreement, things should go smoothly as they do 99.9% of the time.