Renting Banked Points

[glvsav37]

Hi..I'm sure this topic has already been covered somewhere, but this is the first time we are looking to rent/sell points and want to make sure both us and the buyers are covered.

We had banked points . We gave some of them to my inlaws to use for their July 15 trip. On the phone with MS, the agent told my wife that b/c they were 'Banked points' that we could not transfer/rent them so easily. She was able to book the ressi under our name and add my MIL to it so that she could be the one to use the room.

We now have XXX pts left over and are looking for someone who needs them...I know, not a lot, but could be an extra night.

Whats the real deal with 'banked points' and renting them out?

This is family so we don't min being attached to the ressi for that, but if we rent the points to a stranger or friend, we want to ensure there wont be any issues. I'd hate to have an agreement with someone only to have there be an issue at check in and disrupt their vacation.

Any advice appreciated!

 

[disBOBney]

While I am not sure about "transferring" banked points,(which is a change of ownership from one member to another), you are still of course able to make reservations in anyone's name that you choose. If you rent them to someone or not is not a matter Disney is ever a part of. Only the current owner/member can make the reservation.

So yes, you can make a reservation for yourself, a family member or a complete stranger it doesn't matter.

 

[chalee94]

Whats the real deal with 'banked points' and renting them out?

you cannot rent any kind of points at all.

you can make reservations with any kind of points and then you can rent those reservations.

the only risk would be to you if you don't have a stated "no refunds" policy. if you have to cancel a reservation made with banked pts, you might have few options for re-renting them before they expire.

(it is true that you cannot transfer banked pts to another member. otherwise, no idea why MS suggested it was a problem.)

 

[LisaS]

We had banked points . We gave some of them to my inlaws to use for their July 15 trip. On the phone with MS, the agent told my wife that b/c they were 'Banked points' that we could not transfer/rent them so easily. She was able to book the ressi under our name and add my MIL to it so that she could be the one to use the room.

When you say you "gave" some points to your in-laws, if you mean they are also DVC members and you wanted to transfer points from your DVC account to your in-laws' DVC account then the MS CM was correct in saying that you cannot transfer banked points to another member.

If by "gave" some points you really mean you offered to make a reservation for your in-laws using your points then the CM was incorrect in insisting your wife's name had to be on the reservation. You can use banked points to make a reservation in someone else's name. Your wife's name does not have to be on the reservation.

Just an FYI, "rent" and "transfer" mean two different things. When we talk about "renting points", we are referring to a member using his/her points to make a reservation and then renting that reservation to someone else. That's different from a transfer, which is an actual transfer of DVC points from one member's account to another member's account.

 

[glvsav37]

When you say you "gave" some points to your in-laws, if you mean they are also DVC members and you wanted to transfer points from your DVC account to your in-laws' DVC account then the MS CM was correct in saying that you cannot transfer banked points to another member.

If by "gave" some points you really mean you offered to make a reservation for your in-laws using your points then the CM was incorrect in insisting your wife's name had to be on the reservation. You can use banked points to make a reservation in someone else's name. Your wife's name does not have to be on the reservation.

Just an FYI, "rent" and "transfer" mean two different things. When we talk about "renting points", we are referring to a member using his/her points to make a reservation and then renting that reservation to someone else. That's different from a transfer, which is an actual transfer of DVC points from one member's account to another member's account.

Yes...thanks for clarifying. My inlaws are DVC members as well and they needed the points to extend their stay. I'll check with her as to what the CM did that attached our name to the ressie

thanks all for the clarifications.

So if someone wanted those left over points, we need to make the reservation for them, add their name to the room and then when they go to check in, they can do it under their name...or ours? (sorry, i'm a noob at this)

 

[bellablue2]

renting banked points is zero problem - if you qualify, use the for rent board here.

 

[chalee94]

So if someone wanted those left over points, we need to make the reservation for them, add their name to the room and then when they go to check in, they can do it under their name...or ours? (sorry, i'm a noob at this)

technically, they should check in under their name and your name should not be on the reservation.

it's fine with family but you can see how a third party might be skeeved out that you had a right to get a room key to access their room...

 

[LisaS]

So if someone wanted those left over points, we need to make the reservation for them, add their name to the room and then when they go to check in, they can do it under their name...or ours? (sorry, i'm a noob at this)

You would make a reservation under their names only, not your name. They check in under their own name. You can make the reservation online or by calling MS.

 

[glvsav37]

got it!!! thanks all