renter not responding/no deposit as promised

[mom2grace]

I have been reading this thread since yesterday. I have rented twice, we do not own DVC.

We rented points in Nov 2007 for our Oct 2008 trip. It was a big contract (over $5,000), and we put half down when the ressie was made, through paypal per the owner's request. And yes, that was a lot of $$ the month before Christmas, but it's part of the deal.

It's important for the renter to understand that renting points is a very good deal, and there are inherent risks. It's important as a renter that your plans need to be in concrete, this is not like a regular reservation. If I need to cancel, I know that it's my loss. (It would take a catastrophe for this to happen for us) And, having trip insurance is a good idea, but it doesn't usually cover "changing" your mind.

For renters who are still on the fence, it is safer to make a room only ressie with CRO, and then to rent 1-2 months out from your actual trip and cancel the room only.

Renting points isn't for everyone, and it sounds like you have encountered some duds. Keep your chin up! There are good renters out there!

 

[luvindisneyworld]

Okay, Please dont let the renter tell you what he is going to do.You are the one that needs to be in control of the situation.What I did when I rented my points out was,I would get their dates then I would call MS and I would get the reservation I would then call or email the renter and provide them with the confirmation number and I would ask for 50% then 60 days out then they had to pay the other 50%. That way if they were a few days late with making the final payment then I would not be risking my points going into holding.I would no hold it over 10 days though and I would cancel it.When I make the reservation and they are sending me the deposit then I tell them 10 days for them to get that to me to,I may have even told them 7.It has been along time since I have rented out.

I always told them that once they pay me then there is no refund but I will change dates for them if I can.
Once I got the written confirmation from DVC then I would mail it to them.

Renting can be as simple or as hard as you let it be. I have always talked to the renters over the phone.I just feel like it puts them more at ease like that.

But please dont let the renter tell you what they are going to do.This is not their points they are yours.

I can tell you with this way of doing things I have never ever had a problem and I have so many of the people I have worked with want to rent from me again.I get PMs often with past renters needing to rent again.

So if I were you I would tell the one wanting you to wait till next week that it is not happening and just cncel that reservation all together and not deal wiith that party.I dont know whether I would rent out to a wedding party or anything like that anyway. You dont know what is going to be going on in the rooms and you the DVC member can be held responsible.

Sorry, what I meant with HOW THEY ARE GOING TO PAY is, not the method, but WHEN...."I will send you a night's deposit and then 30 days before the rental I will pay rest, that's how I do it" or, "I can't give you anything until the end of the month, and I will pay you a $100 deposit, and then "

Or they expect me to continue to hold a reservation, confirmed without paying me....something came up, I am busy, forgot, etc. CRO needs a deposit immediately and so do I!

 

[JimMIA]

Sorry, what I meant with HOW THEY ARE GOING TO PAY is, not the method, but WHEN...."I will send you a night's deposit and then 30 days before the rental I will pay rest, that's how I do it" or, "I can't give you anything until the end of the month, and I will pay you a $100 deposit, and then "

Or they expect me to continue to hold a reservation, confirmed without paying me....something came up, I am busy, forgot, etc. CRO needs a deposit immediately and so do I!

Well, as Robin and mikesmom said, the payment schedules are something you have to agree to. It's not a question of "how I do it," you both need a schedule that works for both parties.

And it's not always going to be possible to develop a schedule that fits both party's needs. If you have some flexibility with timelines, you could have some flexibility on payment schedules -- although I'd be a bit reluctant to be overly flexible with someone I was having trouble with from the start. If you're having trouble getting a $100 deposit out of someone, can you imagine how much fun it will be to get the other $900 or whatever?

If you're working on a short timeline, you don't have the flexibility. You have to set your terms and stick to them. You can't hang yourself out to dry because a payment schedule is inconvenient for the renter -- that's just trying to make a bad fit work, and it's not good for either of you.

If you're really having trouble getting someone to agree to a schedule, and then to stick to it, BOTH of you would be better off if they went elsewhere.

 

[Inkmahm]

wow. Renting seems to be just way too much hassle. I prefer to transfer my points to another member rather than go through the hassle of renting. I had points transfered in once when I needed them for our big family reunion in December 2007. I sent the money by paypal and a few minutes later the points were in my DVC account. Done in just a few minutes.

In January, I figured out our vacations for 2008 and 2009 and realized I had leftover VWL points. Someone was looking for exactly what I had in points on the rent/trade board (well, within 6 points) so I contacted her. Another easy transaction. I offered to take paypal or a check- never crossed my mind to ask for a bank check. The other party came up with that idea and I said great, that's fine with me. Check was in the mail and I did the transfer the moment I got it. Another easy transaction.

I'll still with transfers, either in if I need them (not likely) or out if I have extras (more likely).

 

[Dean]

Sorry, what I meant with HOW THEY ARE GOING TO PAY is, not the method, but WHEN...."I will send you a night's deposit and then 30 days before the rental I will pay rest, that's how I do it" or, "I can't give you anything until the end of the month, and I will pay you a $100 deposit, and then "

Or they expect me to continue to hold a reservation, confirmed without paying me....something came up, I am busy, forgot, etc. CRO needs a deposit immediately and so do I!

I would not deal with people like this as you would be setting yourself up for something else to happen. It will always be something with people like this and they will never be happy and it will somehow always be your fault. Move on from these type.

 

[bsusanmb]

Thanks, everyone. I now know this should have been a business transaction, not a Deal or No Deal or Let's Make A Deal transaction for the person wanting to rent...my terms not theirs, within reason, deadlines, no pay move on, and never take incentive points unless I am going to use them all!

 

[luvindisneyworld]

Thanks, everyone. I now know this should have been a business transaction, not a Deal or No Deal or Let's Make A Deal transaction for the person wanting to rent...my terms not theirs, within reason, deadlines, no pay move on, and never take incentive points unless I am going to use them all!

 

[kimberh]

I have just skimmed this entire thread. I have never dealt with Developer Points, after reading this, I am glad I excepted the AKV discount. I am so sorry you are having this trouble. I have never experienced anything like this. I have dealt with a few family gatherings. I have a point of contact, send the contracts to them and hold one person responsible for sending me a check. I have this understanding upfront. It just works better. It is too hard for everyone to get on the same page.

With my years of reading on the dis, I try to stay away from Weddings. I find that someone is running out of money, or time. Others may have different experiences, but I don't want to get in the middle of weddings. My families are so happy to find someone that will deal with them. I require half down, then the balance 60 days prior to travel. I rent early in the UY also. I have had one family not hold up to their end of the deal. I called them to see what was going on and then cancelled the reservation. I rented the points the same week, plus some.

I realize with developer points, you have been in a difficult situation. I hope your renter reads this thread, sees that you are a honest person that is just trying to rent a room at a great price!

 

[mommacat56]

I just rented a reservation to a fantastic person who was an absolute dream to work with. There are real gems out there!

I know the way I did it is very wrong; NO contract , just frequent emails. I'm also a nurse and also very trustworthy . This was my first time renting and I had no references for him...only my word. I only had a month to rent the ressie from the time I posted it on rent/trade, so mailing a contract and mailing it back were out of the question. I asked for payment in full up front (he did get a great value for 6 days at SSR) sent by priority mail because of the tight time frame. I kept in constant email contact as did he. He requested a few modifications...and yes, they took time to confirm, but I wanted him to be absolutely satisfied with the transaction. He just emailed me to say they had a great time And now I have my first reference. Thanks Chris! You're the best!

Mary

 

[bsusanmb]

I think that this experience taught me a lot, and most of all, how valuable my points are...to ME...and I won't ever sacrifice them to someone who is unappreciative.

I may rent some of my next UY points to pay for another cruise, which is cheaper than using my DVC points. But I will be cautious and take all of your input before I ever do this again!

Yes, there are some very nice renters, and I was one of them in the past...so I just have continued to see the world with rose colored glasses...and I think everyone is nice and no one would cheat or lie or whatever...oh, brother, I really am a nut! Where is that prozac salt lick?

 

[mommacat56]

I think all nurses wear those rose-colored glasses most of the time. It's just our nature I guess. It makes our paychecks look soooo much better, don't you think? That salt-lick is what everyone needs...might chill 'em out a bit! They need to get in line behind us though

 

[JimMIA]

I know the way I did it is very wrong; NO contract , just frequent emails.

I don't see anything wrong with the transaction you outlined. I don't think contracts are that important, and sometimes they probably hurt the process.

The reason I say that is people are always looking for a "happy pill" to make everything "nice," and they rely on contracts much more than they should. I think one reason for that is sheer laziness -- people don't want to take the time to get to know the person they're dealing with. The simple fact is, a contract for a few hundred bucks is virtually unenforceable in the real world. Why? Because it would cost more to enforce the contract than you would recover.

As Dean mentioned above, a contract is mostly useful for establishing understanding and agreement on the main points of the transaction. If both parties understand and agree on the critical elements, and both parties trust each other, that's really all you need.

I do think it's helpful to have the main points in writing, because writing is much less likely to be misunderstood. But I'd rather have a series of clearly worded, plain-English emails that one of those silly legalese contracts full of legal mumbo-jumbo that neither party understands.

 

[robinb]

As Dean mentioned above, a contract is mostly useful for establishing understanding and agreement on the main points of the transaction. If both parties understand and agree on the critical elements, and both parties trust each other, that's really all you need.

I do think it's helpful to have the main points in writing, because writing is much less likely to be misunderstood. But I'd rather have a series of clearly worded, plain-English emails that one of those silly legalese contracts full of legal mumbo-jumbo that neither party understands.

That's why I use a contract. I think it's important that both parties understand and agree to the main points of the transaction including payment schedule (final payment 60-days prior to reservation) and cancellations (which I allow). I didn't use a contract when I first started out.

 

[mickey&minniealways]

Hope all is going well for you now. I do not own as we cannot afford to at this time. We are renting for the 2nd time. My sister who used to own but had to sell her points, needed the money for a good car her family is growing. Anyway she told me about the disboards and how to go about doing it. The last time we did this we gave my sister as a reference. They faxed a contract to my husband at work and we faxed it back within 24 hours. We used paypal to pay for everything. It was a hard decision to may as at first we were not sure about renting from someone we didn't know or renting through an agency. But it worked out great and we are doing it again. Although the best rate we could get was $10.50 per point. Please don't let this sour you on the whole experience though. Some of us really are very nice people. Maybe someday we will be able to afford to buy. My children are 12, 19 and 21. One is starting college in the fall. The other two are special needs so we spend alot of money on educational advocates and nearly 20k on lawyers to get appropriate programs for them at school. So there went our money for things like time share. Maybe some day if we are lucky. I am still looking forward to our 4 nights in late April at OKW.

 

[tacomaranch]

I have rented twice now. I turned down a very generous offer from what is now a friend and I rented the points. It was a very fast and clear transaction the first time. We sent a few emails, agreed on the terms and conditions and I sent a payment via paypal.

The second time I rented points it took two emails and then a phone call with my visa card. The person faxed my receipt and a confirmation #.

Both times I paid the entire amount in full and could have easily been taken but I know the folks who I rented from were great just from the t&c's, which were clear and spelled out.

 

[bsusanmb]

Mickeyandminniealways,
I know how you feel...we had 5 children, and our youngest needed daily tutoring through elementary and middle school...and then college for the older ones...and DH and I are far from wealthy. They are all grown now and have families. 3 years ago I inherited a small amount of money, enough to make a nice downpayment on DVC...and since it was MY money, I decided to buy into DVC. I have not regretted it once. I can provide very nice vacations for my children and grandchildren once a year and DH and I have some time to ourselves also. It took a long time, but we were able to do it without a burden on our finances. And that is why I said that my points are far to valuable to me to allow someone to feel like they are doing me a favor by sending me a downpayment long after the due date...and promise and promise and never send anything.
I have had a couple of really nice renters now, and I just know better how to screen who I would rent to, thanks to my dis buddies!

 

[bsusanmb]

Well, here is my update: If I didn't receive a deposit, I cancelled those reservations. I have rented all my points and either received full payment or downpayments. So, all is well here once again.

Thanks all you wonderful dis people for your support and helping me to understand the rental process.

Susan

 

[robinb]

Well, here is my update: If I didn't receive a deposit, I cancelled those reservations. I have rented all my points and either received full payment or downpayments. So, all is well here once again.

I'm not following. Did the problem renters finally send a deposit or did you cancel their reservations?

 

[dianeschlicht]

Well, here is my update: If I didn't receive a deposit, I cancelled those reservations. I have rented all my points and either received full payment or downpayments. So, all is well here once again.

Thanks all you wonderful dis people for your support and helping me to understand the rental process.

Susan

That's great!

 

[bsusanmb]

Nope, cancelled the problem renters.