A couple more pluses:
1. If you have a car, you get free theme park parking. That's another onsite perk, not a
DVC perk.
2. You can also get the
Disney Dining Plan without having to buy theme park tickets.
On the other hand:
1. The rental arrangements are strictly between you and the owner you rent from, so it is vital that you take some time and establish a comfortable level of trust with the owner. They will have to make all of your resort-related arrangements (DME,
DDP, requests, etc.) for you, and the reservation remains completely under their control until you check into the resort. Also, if you encounter any issues with the owner, you are on your own. Neither Disney nor the DIS will intervene.
2. Renting a DVC reservation is
very different from making a hotel ressie. DVC works best for folks who have their plans made far in advance and have the ability to stick to their plans. There are serious cancellation penalties in some situations with DVC, and just about any change involves cancellation and rebooking. If you think your plans might change, DVC is probably not a good option for you. There is a learning curve with
DVC rentals and you really need to go to school and learn the system to know if DVC is a good option for your family.
3. You will get all of the normal onsite perks, but do not count on getting any DVC member perks. Your room key will say DVC Member on it, but most of the time we are asked for our "Blue Card" when asking for DVC Member perks.