Renting DVC points - pros/cons

[nkereina]

We rented points for our next stay in October. For us, the biggest cons would be that your dates have to be firm. You can't cancel or change dates once you contract to rent points. And you often have to rent points 7-11 months in advance in order to secure the dates and room type you want at the resort you want. You also often have to pay the full amount of your rental up front, rather than 45 days out. Often this has to be done through cash transfer (Pop Money) or PayPal, but then you have to be prepared to pay extra for the PayPal fees as well. So you should really have the cash on hand for your reservation when you make it, rather than relying on credit cards. No housekeeping is also a drawback for us, but we will deal with it because we were able to get such a good price on the room. If you can deal with the cons, you can stay at a deluxe for a very affordable price.

 

[TheSpooph]

I have rented points twice, once for a June 2013 stay at BWV and again for our upcoming October trip. Both times I found an owner on the rent/trade boards here on the DIS. Here's the process I went through.
1. Pick the dates for my trip
2. Decide where we want to stay
3. Look on rent/trade boards to find an owner who had points available and owned at the resort we were looking to stay at (members can book rooms 11 months out at resorts they own points at and 7 months at other dresorts) because really wanted to stay at WVL (or BWV last trip) and needed to book as soon as possible to get what we wanted.
4. Once I found a member who had points at VWL, I contacted him.
5. We corresponded through e-mails so I was able to ask questions and get more information
6. I asked for references
7. I checked a website that list properties owned, to check to make sure he owned points at the resort stated
8. I asked for a sample rental agreement and he sent me a copy
9. I reviewed the rental agreement
10. I decided this was the person I wanted to rent from and he checked to see if my dates were available at the resort I wanted
11. The resort and dates were available so I had the member make the reservation for me
12. The member made my reservations (one for me and one for my in-laws)
13. He forwarded the confirmation numbers to me
14. I sent payment via paypal (the whole amount was due at this time, and I was fine with that.
15. I can log into MDE account and see both reservations
16. I checked into and purchased travel insurance that will cover us if something should come up and we need to cancel

I like renting points because it allows us to stay at resorts we otherwise wouldn't be able to afford. I chose to go through the DIS boards because 1. I didn't have to pay a deposit and 2. I was able to get the points cheaper than going through one of the rental sites. It takes a lot of trust on both parties, but if one feels comfortable doing it, it is a great way to stay at a deluxe at the price of a moderate. I'm paying $188/night (standard rate at a moderate is $192 without a discount). I don't mind that we don't get mouse-keeping. At home I don't change my towels and sheets daily and it's nice to be able to go back the room and not worry about be interrupted.

Just remember when renting points, you won't be able to apply any discounts that Disney releases such as a room discount or free dining. I knew that even if FD was released, my dates would probably be not included based on previous years dates. I was right, my dates Oct. 10-17 are blacked out. Even if a room only discount comes out for my dates, I'm not paying that much more to stay at VWL.

Overall, I am happy with my choice to rent points. I researched a lot and knew exactly what I was getting into. I wouldn't not recommend renting to somebody who does not want to do their homework and understand how it works. It is definitely not for everybody.

Thanks for the great step-by-step walk through!

 

[rwdavis2]

Although I did not read all posts, the Rental Store offers cancellation insurance of x dollars per point. Not sure what the number is but I checked it a while ago and it was less than $200 for a 7 day stay at the Boardwalk Inn. Or just buy trip insurance which covers much more than just the rental.

We, about 99% sure we will rent points when we go next year.

 

[patty57]

Although I did not read all posts, the Rental Store offers cancellation insurance of x dollars per point. Not sure what the number is but I checked it a while ago and it was less than $200 for a 7 day stay at the Boardwalk Inn. Or just buy trip insurance which covers much more than just the rental.

We, about 99% sure we will rent points when we go next year.

Do you happen to know if you can cancel for any reason?

 

[Hopefully]

Do you happen to know if you can cancel for any reason?

Generally not. The member can lose their points, so they are very strict about cancellations.

 

[tuckerkeys]

My upcoming stay will be on points for the beach club villas. I used Davids. So far, everything has been great! My kids REALLY wanted to stay at the beach club, for the pool mostly. The cost savings for a week studio vs. standard hotel room was over $1000! This will be our second stay in a DVC hotel. We have never stayed at the BCV, but it looks amazing.

 

[rwdavis2]

Do you happen to know if you can cancel for any reason?

I think so but you should could check for yourself.

 

[patty57]

Generally not. The member can lose their points, so they are very strict about cancellations.

I was asking about canceling with trip insurance, not asking the member to cancel.

 

[patty57]

I think so but you should could check for yourself.

I'm probably done renting points, although it really is a great savings. I never looked at a policy for a DVC rental, but did look at one for another trip...that policy was pretty restrictive. You could only cancel for medical reasons, or a death in the family. I'm guessing the cancel for any reason policies are pretty pricey.

 

[rance]

One big disadvantage is the rooms at beach club and Boardwalk are not the same quality as the hotel rooms rented from Disney at those resorts.

 

[mastermind307]

I was asking about canceling with trip insurance, not asking the member to cancel.[/QUOTE

Cancel for any reason is available through some trip insurance companies usually at an additional cost. I know because for my June 2013 trip I wanted that option and I paid extra for it. It wasn't too much and it gave me peace of mind. However, the whole trip wasn't fully refundable, I think I would get back 75% of what I had paid. I used travel insured for that trip and my upcoming one. I didn't purchase the cancel for any reason for this trip because I didn't feel I needed it. I did make sure that cancel for work reasons was included since I might be getting a new job, but any other reason we'd cancel is covered by our policy. There's a lot of different companies and policies out there, so you have to search and find the one that fits your needs best.

 

[rwdavis2]

I'm probably done renting points, although it really is a great savings. I never looked at a policy for a DVC rental, but did look at one for another trip...that policy was pretty restrictive. You could only cancel for medical reasons, or a death in the family. I'm guessing the cancel for any reason policies are pretty pricey.

Not really. The point rental site we're talking about offers "Cancel for Any Reason" insurance for "$1.40/rented point with a minimum of $100." So a BWI Studio is 78 points: 78*140 = $109.20. Not bad for what is probably around $1000-$2000 saving of DVC vs. Rack rate in November.

 

[patty57]

Not really. The point rental site we're talking about offers "Cancel for Any Reason" insurance for "$1.40/rented point with a minimum of $100." So a BWI Studio is 78 points: 78*140 = $109.20. Not bad for what is probably around $1000-$2000 saving of DVC vs. Rack rate in November.

That is pretty reasonable. I always rented through private owners, but a policy like that one might make it worthwhile to use a company. Did you use David's?
If I had a policy like that, I would have used it to cancel my VWL in December, and booked the Swan or Dolphin.

 

[dchronister]

I almost always rent points. I was a little nervous the first time not knowing what to expect but it worked out very well, now I use the same lady over and over, I know what to expect and what I am going to get, and it also takes away the worry of getting scammed, not saying that would ever happen, but the thought was in the back of my mind, so just use some reputable and you will be fine. The only draw back in the process for me is there is no flexibility at all. If you did have to cancel, there is a very small window for another time, from what I understand, and that is if there is any available rooms. We usually stay for 7 nights, so I book for the 5 nights that I definitely know I will be there, then when I get a little closer to time to go and get my flight booked and I know if I will be staying the weekend before or the weekend after the 5 nights I booked, I call my lady and if she can add them we do and if she can't, I call Disney and get a moderate resort room or two, depending on my party size, usually by this time they have some type of room only discount going on, and we usually get to try a new resort, so this works for us. Also, the DVC rental is cheaper during the week, usually a lot, the points for renting a weekend day can be quite high, especially in a busy season, find a points chart for Disney DVC and it will give you an idea, $x points needed for your stay. Overall renting points is a very good deal.

 

[rwdavis2]

That is pretty reasonable. I always rented through private owners, but a policy like that one might make it worthwhile to use a company. Did you use David's?
If I had a policy like that, I would have used it to cancel my VWL in December, and booked the Swan or Dolphin.

I did not rent yet, but its DVC Rental Store as mentioned on the first page of this thread.

 

[AuntTink]

My upcoming stay will be on points for the beach club villas. I used Davids. So far, everything has been great! My kids REALLY wanted to stay at the beach club, for the pool mostly. The cost savings for a week studio vs. standard hotel room was over $1000! This will be our second stay in a DVC hotel. We have never stayed at the BCV, but it looks amazing.

Disney's Beach Club Villas- Stormalong Bay Pool area annual refurbishments starting early 2015. Portions of the pool may not be available to guests at all times.

This is on the DVC Member Website.

 

[abner1776]

Renting points directly from a DVC member is not entirely a one way street as the member is responsible for any damage or personal issues that the renter may have with the room or resort. Also keep in mind that DVC members( I am one) bought into DVC because they wanted to visit Disneyworld and not to "just make a buck" on their points. So the renter is not dealing(generally) with someone who owns a timeshare and wants to make a profit on the deal. Where I'm going on this is the DVC member is very unlikely to cancel the reservation on you at the last minute and they are most likely going to bend over backwards to make sure you enjoy your vacation with as few problems as possible. We want you to enjoy Disney as much as we do and maybe rent to you again in the future.
I have rented to the same family on a number of occasions and it works out great for both of us.
I keep seeing many comments about people scared of losing their deposits and having their reservations cancelled, but I just don't see that happening very often....that's not the type of people who are DVC members.

 

[Deb & Bill]

Mastermind mentioned checking a website to make sure the member owned the points. What you look for is the site where deeds are recorded. Most of the DVC resorts are located in Orange County, FL, so they are recorded there. But members who own at HHI, VB, GCF, Aulani, won't be recorded there. But even checking the website might not confirm ownership because a good scam artist could just pick a name and resort off that site and tell you that is theirs. Or if a member is about to be foreclosed because of failure to pay annual member fees or monthly payments on a purchase, you won't know that either. There have been a few scams, but most "rentals" have been between honest owners and honest renters.

Be aware that you'll find all sorts of "rentals" on ebay or other sites that are really RCI trades. It is illegal to rent out an RCI trade and your reservation could be cancelled when you are right there checking in and you will be out any money you paid for that reservation. If there is any mention of a $95 fee or the seller if offering a gift card to pay for the fee at check-in, run far away from that reservation. It's an RCI trade. Most of those reservations will be set and a seven day reservation, usually Fri to Fri, Sat to Sat or Sun to Sun.

One more hint. If you want to "rent points", make sure you find a member to rent from at least 11 months ahead of time, especially around any holidays or from late Sept through the January marathon. DVC resorts book up quickly during those times. When you see on the Disney website will not be what is available using DVC points. There are two sets of inventory for DVC reservations.

 

[tuckerkeys]

Disney's Beach Club Villas- Stormalong Bay Pool area annual refurbishments starting early 2015. Portions of the pool may not be available to guests at all times.

This is on the DVC Member Website.

saw the pool refurb begins may 31, we leave may 30

 

[jke2015]

Curious...if I were to rent, do I get the 180+10 ADR benefit? Do I purchase magic bands separately? Or can I use ones from a prior trip? TIA!