Renting DVC points? (first time)

[Trollingforthimbles]

Can someone explain this to me?

Is this cheaper than booking a vacation package via the DW site?

How is it done?


We are looking to go in date removed and would like MYW plus Deluxe Dining.

 

[been2marceline]

Although renting points is technically not allowed by DVC - as you can see, it is very popular.

The way it works is you have a DVC owner make a reservation in your name for the resort and dates you want to go and you then work out a payment to compensate the owner for the use of the points that pay for the reservation.

As far as price is concerned, you can save, in my best guess anywhere from 25% to 75% over what an equivalent cash, hotel reservation would cost.

The differences between the prices are dependent upon the dates (season) / resort / type of accommodations, etc.

Some times the accommodation are exactly the same, sometimes they are close but not exactly the same.

I had 8 days in a 2 BR Concierge , Jambo house reservation for this past holiday season that cost about about 500 points - typical prices for those points would be between $10.00 and $12.00 pp translating into $5-6$K for a stay that, if booked direct through Disney - would have been $24,000.

This is at the extreme end of the savings - I would think that the majority of persons renting points garner about a 50% savings.

There are commercial renters and private ones, anyone who is doing this properly will use a contract to protect both parties.

I just rented someone a 157 point stay for 2 adults, 2 kids. 9 days in August in a Savannah view studio @ $10.00 pp = $1570.00 .

According to the site today, the equivalent in beds ( 2 queens in a Savannah view ) is $3381.00.

Take a look at the rent trade boards overview links - there is plenty of great info there for new renters.

Hope this helps!

 

[been2marceline]

Forgot about the other items.

Dining can be added to any reservation up to a couple of days before you arrive - the prices are the same.

You pay Disney directly for the dining packages.

The owner that makes your reservation can add dining or transportation when they make the reservation or afterwards if you change your mind.

 

[been2marceline]

MYW is a hotel only upgrade package - it is not applicable to DVC renters.

Most of those items / tickets / etc. can easily be made up for with the difference in prices, early morning hours are open to all guests staying on property including DVC members.

 

[mousefan1972]

Although renting points is technically not allowed by DVC -

Actually, it is.

 

[RobDoc]

Although renting points is technically not allowed by DVC - as you can see, it is very popular.

Actually, members renting DVC reservations is expressly allowed by DVC. What is not allowed is a pattern of commercial activity that the Board of Directors could find violating the intent of the policy (is that vague enough?). There are sections in the POS devoted to renting by members, it is definitely allowed (DVC even does it!). A few years ago DVC suggested that members making 20 or more reservations a year could be scrutinized for a "pattern of commercial activity", but I've never seen any evidence that any member has been restricted due to that reported policy.

 

[vicki_c]

Forgot about the other items.

Dining can be added to any reservation up to a couple of days before you arrive - the prices are the same.

You pay Disney directly for the dining packages.

The owner that makes your reservation can add dining or transportation when they make the reservation or afterwards if you change your mind.

Also incorrect. A renter has to pay the owner for the DDP and the owner pays DVC Member Services.

 

[Deb & Bill]

Just one thing, the member who owns the points sets the terms for payment and cancellation. They may offer no cancellation and no refunds. They may request half payment to make the reservation, full payment of the dining plan to add it to the reservation and any remaining 60 or more days before the start of your trip. The member might accept Paypal and they might only accept a check.

It's all between you and the member who owns the points used to make the reservation. Disney will not get involved if you have any problems.

Plus the services you get while you are staying are different from a reservation made directly through Disney. Housekeeping is very limited, especially if you stay seven nights or less. In that situation, you won't get any full housekeeping at all unless you pay extra for it. You will get your towels replaced and trash removed on day four of your trip for stays of seven nights or fewer.

And most members make their reservations at 11 months out. So it can be difficult to get a reservation during holiday times or times when schools are out. Early Dec is a very popular time for members, so those stays get booked at 11 months out.

This will get you lodging only. You will pay for the dining plan and have to purchase your park admission separately.

 

[been2marceline]

Also incorrect. A renter has to pay the owner for the DDP and the owner pays DVC Member Services.

I know this to be correct - dining is paid upon checkin by the party staying there.

 

[been2marceline]

Actually, members renting DVC reservations is expressly allowed by DVC. What is not allowed is a pattern of commercial activity that the Board of Directors could find violating the intent of the policy (is that vague enough?). There are sections in the POS devoted to renting by members, it is definitely allowed (DVC even does it!). A few years ago DVC suggested that members making 20 or more reservations a year could be scrutinized for a "pattern of commercial activity", but I've never seen any evidence that any member has been restricted due to that reported policy.

You are correct - that what I was attempting to say without going into much detail.

 

[metzger01]

I know this to be correct - dining is paid upon checkin by the party staying there.

Sorry to disagree. Disney policy has recently been changed in this regard--I believe effective in January 2011. The new policy is as such:

Simply add a Disney Dining Plan selection to your reservation at least 48 hours prior to your arrival check-in date. Payment in full is due at the time of adding the Disney Dining Plan to your reservation.

Since most renters would be reluctant to provide credit card info to owners, that is why most owners require renters to pay them and then they, in turn, pay Disney.

 

[browniemtb]

Simply add a Disney Dining Plan selection to your reservation at least 48 hours prior to your arrival check-in date. Payment in full is due at the time of adding the Disney Dining Plan to your reservation.

Since most renters would be reluctant to provide credit card info to owners, that is why most owners require renters to pay them and then they, in turn, pay Disney.

This is true and one reason why I think it makes renting that much more a work.

 

[Chuck S]

This changed October 14, 2010. Any DDP added on or after that date needed to be paid for when it was added. It was part of the system enhancement that slowly seems to be merging the DVC reservation system with the cash reservation system and preparing for online real time DVC reservations.

 

[castleri]

Just one thing, the member who owns the points sets the terms for payment and cancellation. They may offer no cancellation and no refunds. They may request half payment to make the reservation, full payment of the dining plan to add it to the reservation and any remaining 60 or more days before the start of your trip. The member might accept Paypal and they might only accept a check.

It's all between you and the member who owns the points used to make the reservation. Disney will not get involved if you have any problems.

Plus the services you get while you are staying are different from a reservation made directly through Disney. Housekeeping is very limited, especially if you stay seven nights or less. In that situation, you won't get any full housekeeping at all unless you pay extra for it. You will get your towels replaced and trash removed on day four of your trip for stays of seven nights or fewer.

And most members make their reservations at 11 months out. So it can be difficult to get a reservation during holiday times or times when schools are out. Early Dec is a very popular time for members, so those stays get booked at 11 months out.

This will get you lodging only. You will pay for the dining plan and have to purchase your park admission separately.

These are all excellent points and as said the details would be between you and the person you might make a reservation with - some will say no refunds and no changes and some will say no refunds but will work with you if there is availability to make changes if you have a situation that requires a change in your plans. Be sure you are comfortable with all the possibilities before you agree to a rental. It can be a great way to get better accomodations at value or moderate prices.

 

[crisi]

You do have to be aware of the risks - the two biggest risks:

1. Your plans will change and your owner will be unwilling or even UNABLE to work with you. DVC has different cancellation policies than CRO rooms and - more importantly - points expire. If you want the flexibility to cancel, find an owner who can give it to you and UNDERSTANDS THEIR CONTRACT. Often people are really nice and will try really hard, only to discover that you are cancelling and they'll lose their points.

2. If Disney offers deals, those won't apply to a DVC reservation. Many renters have felt "taken advantage of" when they go for the great DVC room deal, then DVC offers free dining - but not to people staying at DVC on points.

Also, understand the differences between a DVC room and a CRO room - limited housekeeping was mentioned, but room configuration can be a big one - a DVC studio (except at OKW) will have a queen bed and a full pullout sofa. If you are looking for two queen beds you can stay at OKW, if you want a King bed, you need to book a one bedroom (which won't make it a deal compared to CRO - but which is a very nice unit.)

 

[Terri2007]

You do have to be aware of the risks - the two biggest risks:

1. Your plans will change and your owner will be unwilling or even UNABLE to work with you. DVC has different cancellation policies than CRO rooms and - more importantly - points expire. If you want the flexibility to cancel, find an owner who can give it to you and UNDERSTANDS THEIR CONTRACT. Often people are really nice and will try really hard, only to discover that you are cancelling and they'll lose their points.

2. If Disney offers deals, those won't apply to a DVC reservation. Many renters have felt "taken advantage of" when they go for the great DVC room deal, then DVC offers free dining - but not to people staying at DVC on points.

Also, understand the differences between a DVC room and a CRO room - limited housekeeping was mentioned, but room configuration can be a big one - a DVC studio (except at OKW) will have a queen bed and a full pullout sofa. If you are looking for two queen beds you can stay at OKW, if you want a King bed, you need to book a one bedroom (which won't make it a deal compared to CRO - but which is a very nice unit.)

I think this is very sage advice. We have rented our points on 4 occasions in the past and in general, I was very explicit in the contract that cancellations were not allowed and all payment (in full) was forfeit. I think this made it easy for both myself and the renter in that it was very clear. It also allowed the renter to get trip insurance. I will say the renter had to be sure of their plan. I know others do it differently. Best.

 

[ccgirl]

I just rented points for the first time so perhaps I can help.

First, although I own a timeshare we were only going for a weekend. Second, we really love the DVC accommodations so thought renting would be a great option.

We found a renter on the Rent/Trade Board that was advertising their points for rent. I read thru the renters posts to make sure they were a frequent contributor and had been a member of disboards for a while. They also provide references. They were super nice and gave me a sample contract up front. WHile all renters are different, they require 25% once the reservation is made then the balance is due within 10 days of receiving the reservation confirmation. No cancellations are allowed. I was extremely nervous at first as I just didn't want someone taking my money and running. I am also a control person so giving up the control of my reservation is a HUGE step for me. Keep that in mind, that the DVC owner has control over the reservation the entire time. If you need to add dining the DVC owner has to do that. You CANNOT do that. As has been mentioned, the payment for the dining is now required at the time of reservation, not at check in.

I think I got very lucky in that my owner has been awesome thus far. BTW, I ended up renting ALK savannah view for $200 a night. That is at least a 50% savings from full rack rate.

Good luck with your decision.

 

[jcf]

I think this is very sage advice. We have rented our points on 4 occasions in the past and in general, I was very explicit in the contract that cancellations were not allowed and all payment (in full) was forfeit. I think this made it easy for both myself and the renter in that it was very clear. It also allowed the renter to get trip insurance. I will say the renter had to be sure of their plan. I know others do it differently. Best.

It makes it a lot easier...you end up dealing with people who are serious. In fact, I have made reservations for people 11 months out with payment due at booking without any problems...though it probably helps that I have been around since 2005.