Renting and Borrowing Question

[RweTHEREyet]

We own points at SSR with a Dec Use Year. We were given the points for 2003 and will have 2004 also.

I presently have a reservation for May 2004 with the Dec 2003 points. I am considering renting out the Dec 2004 points.

It seems to me that I would be better served if I borrowed the Dec 2004 points and used them for my own personal May 2004 reservation and rented out the Dec 2003 points.

Reason I am thinking this is, if my renter changes their mind and I had used the borrowed 2004 points for them, wouldn't I be stuck with having to use them before November 2003? If my renter is using my Dec 2003 points and cancels, I can still bank them as long as I do it before my deadlines, correct?

Anything else I need to consider?

 

[Cruelladeville]

Your thinking is sound. I rent my points periodically, and several are repeaters, which is nice. However, I borrowed from next year for one of them, and now I have an extra 200 pts to either use, or reallocate(that means that I have to call MS and ask them to change the points around on other ressies, so that the 200 pts get used up).

If you are a first-time renter, don't make ressies for anyone until you have their email saying that they agree to your terms. This helps to weed out the not-serious. I always tell them that they will need to send me $100 within 48 hours after I make the ressie, thru PayPal, in order to hold the ressie. If they don't contact you again, they weren't serious about renting the points. You will receive many, many emails saying "I am interested in June 1-4. Please check for me>" They don't want to rent, usually they are just curious, and think you have nothing else to do besides check with MS 20 times a day. Once they agree to the $100, you have a serious person. Send emails when you want the next installment, and send a follow-up to thank them for sending the $. Make sure they are paid in full at least 45 days before arrival, and be sure to send an email wishing them a happy trip. Customer service

 

[MelissathePooh]

I'm curious how you got points for 2003? We did an add on with an April use year and don't get points until 2004. Since the resort is not open or available in 2003 it was our understanding that there were no points for 2003. Same reason that the $$ off was off the down payment and not a "buy back" as there were no points available to actually buy back.

Can you elaborate - thanks.

 

[Dean]

Those who bought a Dec use year got 2003 points, the rest didn't. You're best bet is to either get payment up front before you borrow if you rent the 2004 points for use during your 2003 use year. The other option and likely the best one is to rent for stays starting 1 Dec, 2004, then you won't have to borrow and if something happens you'll have time to either rent them again or bank to the 2005 use year.

 

[d-r]

Those who bought a Dec use year got 2003 points, the rest didn't.

Now hold on a minute here. Will people who have a Dec. use year not get points in 2054, or are you saying that people with a Dec. use year will get 51 years worth of points instead of 50? And did people with a Dec. use year pay 2003 dues if they got 2003 points?

 

[Dean]

Originally posted by d-r
Now hold on a minute here. Will people who have a Dec. use year not get points in 2054, or are you saying that people with a Dec. use year will get 51 years worth of points instead of 50? And did people with a Dec. use year pay 2003 dues if they got 2003 points?

Disney hasn't stated how the RTU will wind down so no one truly knows what will happen those last few years. But in theory they may get an extra year, more like an extra few months. With the way DVC usually does things, they will likely pay the same exact maint fees as anyone else who closes at the same time UNLESS the other person doesn't get their points until later (later use year than June). This is no different than any other purchase and no different than was done for VWL or BCV. You can look at it as a negative to you or a plus to the other person, your choice.

 

[RweTHEREyet]

No maintenace fees are to be paid on the Dec 2003 points and the Dec 2004 maintenance fees are prorated starting with closing date (May, I think) to end of the year.

It won't matter to me if I get points in 2054 or not as I was born in 1950, I don't think it will be an option for me.

Cruella, thanks for sharing your tips, this would be my first time to rent and the first time is always a bit scary. I want to do what is best for both my renter and myself.

 

[MelissathePooh]

I had no idea, no offense, but that really is ridiculous not to have to pay dues on an entire years worth of points and then get the rest prorated. Aside from that fact that I don't see how you can get points at a resort that doesn't exist yet, but the whole dues issue is pretty unfair. JMHO

 

[RweTHEREyet]

Don't want to add insult to injury, but we also got the $10.00 per point off. Same deal was available to everyone, just a matter of talking to your Guide.

 

[DebbieB]

Disney always does this. I bought in September 1999 and got
April 1999 points. Dues were prorated for 1999 from September not April. Since SSR points cannot be used before May, I assume dues will be prorated from May 2004. Dues are paid on an annual basis, not use year basis.

 

[RobDoc]

Maintenance fees are always based on the calendar year and are due without regard to your Use Year. In the case of SSR, no maintenance fees are due until after closing and are then prorated based on the date. If your Use Year is October, and you close in May- you won;t get any points until October 1, 2004 and maintenance fees will be prorated from that date.

Disney has always done direct sales in this way- dues are always prorated from the sale date- even when points are included from the prior Use Year.

Enjoy!

 

[Dean]

Originally posted by MelissathePooh
I had no idea, no offense, but that really is ridiculous not to have to pay dues on an entire years worth of points and then get the rest prorated. Aside from that fact that I don't see how you can get points at a resort that doesn't exist yet, but the whole dues issue is pretty unfair. JMHO

LOL, DVC always does it this way. Actually they can't charge dues until you close. Since the dues are paid on a calendar year basis, they charge you either from the date of closing or the use year, which ever is later. This is just one of the minor benefits of buying from DVC, along with the no closing. I'm sorry but I never understand how another getting a slight benefit is unfair to those that don't get it. You could have bought Decembe use year and got the same benefit.

 

[MelissathePooh]

I'm aware of the $10 off - we got that as well and used it with a CM discount to boot - that's not the issue.

According to my understanding of the original post and a reply from the OP- they are getting full 2003 points that will never have maintenance dues at all. Maybe that is what I am misunderstanding. I understand proration - but what I read was that the 2003 points they got will NEVER have dues.

I know that in the past DVC has done this, but it was my understanding that it was for a pre-existing resort. We bought DVC in Sept of 2001 with an April use year. We were given our 2001 points and paid a prorated dues fee for those points. We then got our 2002 points like normal.

A December use year getting extra points - whatever I guess - but I don't understand how someone is getting points that will never have dues prorated or otherwise.

FWIW, unless you want to buy an entire new contract with a min oif 150 points or do a resale, you don't have the option of selecting what use year you want. Add on's done thru DVC under 150 points must go with the same use year you already have.

Sorry to harp, but a full years worth of points with no dues ever being required for EVERYONE who has a December use year - I'm sorry - I just can't agree that not paying any dues at all is just someone elses good luck. That seems very costly and inappropriate.

 

[d-r]

Originally posted by Dean
LOL, DVC always does it this way. .

I'm sorry, you can laugh, but that just doesn't make any sense to me. I'm glad you think it is funny. I'm also glad that someone got something - that is great for them. But frankly, it makes no sense that anybody buying SSR points would get any 2003 points.

1. The resort was not open in 2003.

2. There are no dues for 2003. So how can someone have a years worth of points and not pay any dues for them?

3. Why would only the month of December get 2003 points? Why not the month of November? I mean seriously, why wouldn't someone with a November use year get 2003 points if someone with a Dec use year does? It doens't make any sense to put an arbitrary line there. The line should go 2003/2004.

4. Why go to the trouble of having "2003" points even exist if the resort isn't open and there will be no dues? Why have 2003 points if you can't use the points until after May of 2004? Why set up the computers and stuff to even have to deal with 2003 points for one use year? That is an expense for no reason at all.

5. How can someone get 51 years worth or points when everyone else gets 50, and get 51 years worth of points paying for 50 years worth of dues.

I'm sorry, but frankly I do not even believe that this is accurate. It just doesn't make any sense.

I'm sorry but I never understand how another getting a slight benefit is unfair to those that don't get it. You could have bought Decembe use year and got the same benefit

When I go back and read these posts I don't see anyone saying anything about what is fair or not. There is a difference between worrying about what someone else got - which is what I think you are alluding to, and I'm sorry if I misunderstood that - and thinking that something doesn't make sense. And while I wouldn't agree with you that an additional years worth of points with no annual dues at all is a "slight" benefit, I am not worried about the deal that someone else got, just as I don't worry about what airfare you paid or what your car cost. But as a member of DVC I do not think this makes much sense.

 

[RweTHEREyet]

I, too, got the CM 15% discount on top of everything else, but I wasn't going to mention that on the Boards, but since it has been, I will share that fact also.

I specifically bought a new contract with the Dec Use Year to get the extra points. I learned about the Dec 2003 points right here on this Board, as anyone could have, and then confirmed with my Guide. My other contracts have a Sep Use Year.

I'm sorry, but frankly I do not even believe that this is accurate. It just doesn't make any sense

Are you questioning that I got the Dec 2003 points or that there is no maintenance? I am sure there are others here that can attest to the same deal.

 

[DebbieB]

According to my understanding of the original post and a reply from the OP- they are getting full 2003 points that will never have maintenance dues at all. Maybe that is what I am misunderstanding. I understand proration - but what I read was that the 2003 points they got will NEVER have dues.

I wouldn't call 1 month "full 2003 points". December use year points would be good 12/1/03 to 11/30/04. However, from what I understand, SSR points cannot be used before May 2004, so there really isn't that much of an advantage. I think they did it to help kickoff the pre-sales for SSR last fall. If you had a December use year would you have bought points that would not start until December 2004?

 

[MelissathePooh]

I'm not sure how its not a full years worth of points when you get that same amount again in Dec 2004 and no one can use them until May regardless of when anyone gets them so I don't see the point there. 150 points for 2003 & 150 points for 2004 - doesn't matter what the use year is its a full years worth of points.

My question as stated again was that how can someone get a full years worth of points that require absolutely NO maintenance dues prorated or not? How can you own points that do not have any dues at all?

Does every December use year contract initially get an extra years worth of no maintenance dues required points? That is what I am asking. I can see if you bought a resort that was already open - getting the points for that year and paying a prorated maintenance dues amount, but this is stating a full years amount of points that have NO DUES???

If its possible to own points that have no dues and its so widely known why would anyone have ever had a contract that wasn't a December use year?

 

[DebbieB]

I bought April 1999 points in September 1999. My dues were pro-rated from September to the end of the year. So I got 5 free months of dues (April-August). Someone bought December 2003 SSR points. They pay dues starting in May 2004. 5 free months of dues (Dec-April), not a year. On the other hand, those who bought December did get a better deal because if someone bought April 2004 points, they only get 1 free months of dues and those who bought after that, get pro-rated from their use year to the end of the year, so no free months of dues.

 

[MelissathePooh]

Originally posted by DebbieB
I bought April 1999 points in September 1999. My dues were pro-rated from September to the end of the year. So I got 5 free months of dues (April-August). Someone bought December 2003 SSR points. They pay dues starting in May 2004. 5 free months of dues (Dec-April), not a year. On the other hand, those who bought December did get a better deal because if someone bought April 2004 points, they only get 1 free months of dues and those who bought after that, get pro-rated from their use year to the end of the year, so no free months of dues.

EXACTLY!!! YOU ARE ABSOLUTELY CORRECT!!! That is my point, but the OP said specifically that he is getting the full amount of points for 2003 - 150 points and there are NO MAINTENANCE DUES to be paid on those points at all. Not prorated or otherwise - no maintenance fees at all. That is what is blowing my mind.

150 points December 2003 - no dues at all
150 points December 2004 - prorated dues

What DebbieB is saying is that they got the dues prorated, like the OP is saying for 2004 - but the op is also saying that they got an additional year worth of points for no dues at all!

It doesn't matter what the use year is - at least it shouldn't. Just because you aren't alloted the points until December of 2004 - you can still use those points in May by borrowing them. You still have access to the points in that calendar year.

 

[arminnie]

Originally posted by MelissathePooh
If its possible to own points that have no dues and its so widely known why would anyone have ever had a contract that wasn't a December use year?

I bought SSR in August shortly after it was announced and was offered a December use year. I suppose I could have requested a later use year, but the advantages of the December use year were obvious so I took it.

Before the end of September new buyers were being offered later use years as the December use years had been sold out (for this part of the development). One of the advantages of being one of the first buyers was being able to get the extras associated with those first December use years. I think of it as an extra incentive offered to those who bought right away.