Renting Experience?

[Blackunicorn]

Does anyone have renting experience that they would be willing to share with me? My family is going to Disneyland this year, and I'm exploring our options. We are SSR members and our use year starts in February. Is it too late to rent out our points this year? Is it very difficult to rent out points? I appreciate any and all advice.

Dawn

 

[dianeschlicht]

If you are going to DL, why don't you use your points to stay there?

 

[Blackunicorn]

This is what we had originally planned, but we can't make reservations until after we close, and it's been called to my attention that it's a "rough use" of our points. Also, there are so many offers that are only available to "paying" guests but not DVC members. It's a long time until closing in June, so I thought I'd look into our other options while we wait. Plus, it won't hurt to get a better understanding of renting, no matter what we decide to do.

To tell the truth, I'd rather go to WDW this year, but we have family obligations in California.

Dawn

 

[disneyberry]

Dawn, do you have specific questions about how to rent out your points?

what info are you looking for?

just ask away, and i'm sure many of us can help.

btw, do you have points now that expire in 1/31/05? is that the set of points you want to rent out? can you bank them?

 

[Blackunicorn]

Well, I'm so clueless, I'm not even sure what the questions are. I guess what I want to know is,

1) Is it hard?
2) How do you do it?
3) Is it a big risk?
4) Do you often have trouble with deals gone bad?
5) What happens if the person renting your points wrecks the room?
6) Would it be too late to rent out the points we have for this year?

We do have points that expire 1/31/05, yes. We can't afford this vacation if we bank the points--we have to either use them or rent them out. Right now, I'm just trying to see if renting them would afford us a better option than using them. I thought I would gather some more information from people who have done it.

The information I have on the vacation is that it would cost me 122 points. I can pay cash, and the same vacation when priced at disneyland.com would cost me $1,200, which on the surface looks like the same either way. However, the cash vacation includes two adult character breakfasts and park hoppers for my entire family! So if renting were a viable option, that might make us happier, you know what I mean? But I want as much information as possible before we make the decision.

Dawn

 

[mickeyc]

There is a seperate forum where you can obtain information concerning the renting points. I would read DOC's FAQs. You can also obtain information concerning renting timeshares from TUG (timeshare user group) for additional information @ www.tug2.net.

From experience renting points I usually do a simple lease detailing the dates the unit will be occuppied and there are some other items concerning damage to the unit, etc. I usually require half payment upon signing of the lease and half when the DVC confirmation letter is received by the renter.

Most individuals who want to rent points seem to know how DVC works and it is mutually beneficial for the renter and DVC member. They know they are getting a good deal by using someone else's points and they are generally very satisfied. The member is able to coup some of their cost. Renting points at $10 per point is not a money maker for the DVC member. Keep in mind that these points are vacation allottments and not an investment.

I think if you close in June you should be able to rent your points with little difficulty. From my observation reading the rent forum the points don't usually last too long.

I am sure things will work out for you. Good luck!

P.S. The tug website has a classified add section which also has DVC members renting points.

 

[disneyberry]

Originally posted by Blackunicorn
1) Is it hard?
2) How do you do it?
3) Is it a big risk?
4) Do you often have trouble with deals gone bad?
5) What happens if the person renting your points wrecks the room?
6) Would it be too late to rent out the points we have for this year?

Dawn:
1) i wouldn't call renting out points hard. but it's not always easy. sometimes there are "window shopping" renters who think you are like Disney's Central Reservations. sometimes there are renters who can't make up their mind, and string you along. i would disagree with mickeyc in that i have encountered about 50% of renters are completely new to DVC, so you might have to explain some things to them.
2) the Rent/Trade Board FAQ is a good starting point for procedure. you can post a new thread announcing you have points for rent.
3) much of the risk is not assumed by you, because at all times, you are in control of your own points, and any reservations you make with your points. there is one minor risk: that is that you are liable for damages to the room and any room charges assessed after they check out.
4) i have heard of a few renters have issues with not receiving payment, or having a bounced check. if you stick with only accepting cashier's check, you should be fine.
5) see my response in #3. a clear rental contract signed by both parties could provide a little protection from this. i am not absolutely sure what is legally considered a contract that could hold up in small claims court, if a problem involving room damages did occur though.
6) it's definitely not too late to rent out your points. they are Feb 2004 points right? so there are 11+ months for you to rent them out before they expire. actually, another rental option you could consider is transferring your points to another member. this opens up a whole other topic though! some members feel that renting points out by transferring is "easier". but make sure you understand the rules before you do any transaction!

HTH.

 

[DVC@BWV]

...another rental option you could consider is transferring your points to another member.

I was also going to suggest this option; we recently transferred points that we wouldn't be able to use and it was quick and painless.