Rental Rates/Concerns

[crisi]

I would've thought (I bought my contract resale, and I've never actually seen a contract) that Disney would have language in there allowing repossession if I trashed my room or violated the terms of the contract in such a way that would make me an undesireable owner (I would, if I were them, so I assumed they did) - in addition to not making payment. After all, we are leasees, not really owners, and I wouldn't want a tenant who trashes my property. I am not a lawyer, but I understand that violating the terms of the contract by one party may make the contract null and void for the other party. But perhaps I'm giving Disney legal staff too much credit.

And I know that the court can order a sale of assets for restitution purposes - my aunt-ex-law is currently having a forced sale of all her assets (including a timeshare) to pay off her victims before they haul her to prision.

 

[CarolMN]

Originally posted by crisi
I would've thought (I bought my contract resale, and I've never actually seen a contract) that Disney would have language in there allowing repossession if I trashed my room or violated the terms of the contract in such a way that would make me an undesireable owner (I would, if I were them, so I assumed they did) - in addition to not making payment. After all, we are leasees, not really owners, and I wouldn't want a tenant who trashes my property. I am not a lawyer, but I understand that violating the terms of the contract by one party may make the contract null and void for the other party. But perhaps I'm giving Disney legal staff too much credit.

Maybe they'd rather just sue (if necessary) to recover damages.

I know that the court can order a sale of assets for restitution purposes - my aunt-ex-law is currently having a forced sale of all her assets (including a timeshare) to pay off her victims before they haul her to prision.

I don't disagree. But the court can't order Disney to repossess or to buy back a contract if it is not a party to the court proceeding. However, Disney might exercise its ROFR if the sale price (from the bankruptcy or other court proceeding) was attractive enough.

Anyway, as others have posted, I think the case in question was that the owner failed to make mortgage/dues payments and that is why Disney repo'd.

Best wishes -

 

[LakeAriel]

I am currently in a rental agreement. This seems like a win-win to me. I wasn't forced to take a trip I didn't want and got cash to allow someone else to get a great deal. That will give me money for most of our meals next trip! I was nervous first time and I'm sure the renter was too. I made sure my name, address, phone number and Email was open to her. Someone else mentioned using PayPal and EBay as references. My Email and Ebay user name is the same and I have 100% positive feedback. Try to check references if possible. I don't think you should take the word of an anonymous poster on this board sending a PM.That could be a disgruntled or jealous friend/relative. Verify for yourself.
Have a magical trip!

 

[lenshanem]

Just because you use paypal or ebay doesn't mean you can't get scammed. I know, cause DH just was. Paid for something thru paypal for an item on ebay, never got the item or his money back. He has contacted ebay to no avail only to be told she scammed others, too.

 

[CarolAnnC]

This thread has been edited to get it back on track with our DIS Posting Guidelines.

The topic here is DVC Rental Concerns. This is not the Debate Board. This is a moderated DVC DIScussion Board.

If you want to engage in one on one, personally directed posts, take it to email or PM.

Thank you to all in advance for compliance in this regard.

 

[Dean]

Using paypal does not give you the protections one might think in using a credit card. In order to be able to charge back based on lack of performance, you'd have to pay the person directly with the credit card. Paypal actually has wording in their contract that makes this not workable. As I undersand it, they will cancel your contract if you do a charge back.

 

[nakedbear]

I have heard that I may "rent' my points. This meaning that I can make a reservation for someone using my points. I have heard of people transfering their points to another member and calling that "renting" also. My understanding is that Disney forbids this practice if there is any money exchange, yet people talk openly about doing it. Does Disney not enforce this rule ( although tough to find out I guess), and what are the consequences if they decide to do so?

 

[Mark099]

The only thing that concerns Disney is that the rooms are full of people buying $50 park passes, $4 hot dogs and $2 Cokes.

 

[3DisneyNUTS]

Originally posted by Mark099
The only thing that concerns Disney is that the rooms are full of people buying $50 park passes, $4 hot dogs and $2 Cokes.

hey where are you finding $2 cokes in WDW? LOL clue me in LOL That seems like a steal

 

[Granny]

nakedbear...you may rent your points, but not for "commercial use". Disney doesn't police commercial use very much, but in general if you need to rent points it's okay. You own them for a period of time and can do with them as you please.

There is a very long thread on this page about "How Renters Hurt Us". Feel free to browse that and you'll know more about this than you ever wanted to know!

 

[CRobin]

Originally posted by nakedbear
I have heard that I may "rent' my points. This meaning that I can make a reservation for someone using my points. I have heard of people transfering their points to another member and calling that "renting" also. My understanding is that Disney forbids this practice if there is any money exchange, yet people talk openly about doing it. Does Disney not enforce this rule ( although tough to find out I guess), and what are the consequences if they decide to do so?

Yes, you may rent your points to another individual (by making a ressie for them as you describe), or you may transfer your points into another member's account.

Disney (specifically DVC) does not forbid these practices; both are permitted. They will not, in any event, become involved in any disputes between a member and a renter relative to non-payment, cancellation, etc.

 

[erikthewise]

Actually I don't think ANYONE cares about members renting to other members.

Some people have problems with members renting to nonmembers.

FWIW, even the most recent menus at allearsnet.com still say $1.99 for soft drinks, though a "large" sometimes costs $2.29. You may be thinking of your local theme park. Ours now sells soft drinks for well over $2.

 

[3DisneyNUTS]

Originally posted by erikthewise
Actually I don't think ANYONE cares about members renting to other members.

Some people have problems with members renting to nonmembers.

FWIW, even the most recent menus at allearsnet.com still say $1.99 for soft drinks, though a "large" sometimes costs $2.29. You may be thinking of your local theme park. Ours now sells soft drinks for well over $2.

really????? Man I must have just been so focused on the huge drinks that I never noticed the true price of the regular drinks. That is actually very reasonable for a theme park. Thanks for the info!

 

[puffkin]

They have also recently lowered the price of the bottled sodas sold in the parks from $2.50 to $2. It is some kind of test for the summer.

 

[JudyS]

About a week ago, I asked people if they had been criticised by renters when asking more than $10 a point. Thanks to everyone who answered! My computer died last week, and I didn't get to post here until I bought a new one; that's what took so long.

OK, I have a *new* rental question. Has anyone here transferred points to another member? Do you ask them to pay first? If not, what's to stop the member from taking your points, and then not paying? If you do ask the receiving member to pay in advance, how can they be sure you'll actually do the points transfer like you say?

 

[Dean]

Originally posted by JudyS
About a week ago, I asked people if they had been criticised by renters when asking more than $10 a point. Thanks to everyone who answered! My computer died last week, and I didn't get to post here until I bought a new one; that's what took so long.

OK, I have a *new* rental question. Has anyone here transferred points to another member? Do you ask them to pay first? If not, what's to stop the member from taking your points, and then not paying? If you do ask the receiving member to pay in advance, how can they be sure you'll actually do the points transfer like you say?

Most people who would transfer points would require payment up front unless they truly knew the person, at least for any number of points.

 

[Happy Birthday Cat]

Originally posted by JudyS
OK, I have a *new* rental question. Has anyone here transferred points to another member? Do you ask them to pay first? If not, what's to stop the member from taking your points, and then not paying? If you do ask the receiving member to pay in advance, how can they be sure you'll actually do the points transfer like you say?

Whether it be renting or the transfer of points, it requires some degree of trust. If it doesn't feel right to you , then you shouldn't do it. What you say could happen but hopefully by having the person's name, home phone number, e-mail address and some knowledge of the person from these boards, it won't end up being a bad transaction.

BTW, I had points transferred into my account and paid half up front and then the rest after the treasnfer was made.

HBC

 

[DBBN]

I've never asked for payment before completing a transfer.

I've transferred points several times and will again when I think I can help another member. Each time I've responded to a request for a transfer on the rent/trade board the member needed the points to complete a reservation. It seemed unreasonable to wait for payment when the member making the request wanted to secure the reservation as soon as they could. I always trust that the member will send payment within a few days and they always have. I concede all transfers were for fewer than 50 points. Nevertheless, I would easily transfer 100 points, likely more without asking for payment upfront. Just not to anyone...I judge the level of risk by the posting history of the member. In addition I review some of their messages. If I think the risk is too high I move on. For some members who post here I would rent/transfer almost anything they wanted for others I wouldn't rent/transfer even one point.

Member Services have proven themselves to be extremely inconsistent with the way they handle transfers. Fortunately, I've always been successful at completing the transfer within an hour or two. Be prepared for anything from MS if you attempt a transfer.

When it comes to transfers or rentals there are no absolutes. If you don't feel comfortable with the transaction you should think twice before making the final commitment.

 

[AFMom]

I can't see the problem with renting points for $11 - yes - it pays for more than just the one year's dues - but what about the money spent on the original purchase? Even if you've completely paid off your DVC Membership - those funds were spent and should be calculated into the cost-per-point when figuring out how much to charge a renter. Depending on how much per point was spent, interest paid if financed, and dues paid for the year,$9-$12 or more could be feasible. No one should be expected to rent and loose money! Also - when you're renting your points, you are taking a risk that a cnacelation at the last minute could make them ususable - therefore some extra cost could be assigned to that risk. Finally - and most importantly - if it works for the member and the renter - it's really no one else's business if it follows the rules of the membership.

 

[Crissup]

Originally posted by AFMom
Even if you've completely paid off your DVC Membership - those funds were spent and should be calculated into the cost-per-point when figuring out how much to charge a renter. Depending on how much per point was spent, interest paid if financed, and dues paid for the year,$9-$12 or more could be feasible.

At least you didn't claim loss in investement income from spending the money on DVC instead of investing. People who use that argument always get me irritated since I financed my DVC by *not* going to the casino as often. Thus, I never would have had any investment income in the first place.