Renting Issues Lately?

[Happy Birthday Cat]

Is it me or have there been more issues lately posed by people who are renting or have rented points? There seems to be an increase to me.

Could this be caused by the large number of people who are now renting out points or renting points who have very little knowledge about how the DVC system works?

I remember back a while ago, a DVC member was on this board asking advice about the points that he/she had just purchased and on the rent/trade board seeking to rent out the points.

I also think there should be some way for the Dis-Boards to tap into this lucrative market since so many people are renting points on these boards.

What do others think?

 

[carone0318]

Up until now, I would never have thought that the DVC forum would be a place to ask questions about renting whether from the renter or the rentee. I personally believe that those questions belong on the rent/trade forum. But, somewhere along the line, someone posted a question and someone answered it here, so now I think that people think that this is the place for these types of questions.

I also think that people are too quick to rent their points and not thoroughly know what they are doing and just do it and then bam, they have questions after the fact.

I think another big reason is the cost of points to cruise has gone up and all you ever hear people say is oh, just rent your points and use the money to go on the cruise. I don't think that there is one post in regards to DCL that doesn't mention renting out your points instead of using your points to cruise. Now, granted that is a great idea, but then someone goes and rents their points without knowing what they are doing and bam, there are the questions again.

Just my thoughts.....I am not saying it is right or wrong, just my observations !

 

[Chuck S]

I agree with HBC, there does seem to be an increase with "renting" issues. And I do think this is due in part to people renting points that have no clue as to how DVC, or renting a vacation properties (even non-DVC properties), from an owner vs. renting a "hotel room" actually works.

Also, yes, there are many new "owners" that also have no experience in renting properties to others.

 

[wdwstar]

i think that the members should explain to the person renting , that basically your just getting a room and getting a peice of paper whether its the original or a copy of the conf. # for your money, not ms 800 #, not access to change things unless you go thru the member, request not guarantee.

just because i write someone a check for goods or service doesnt mean they have access to my checking account info or to speak to a banker about my account.

this is kinda the same as being a dvc member

 

[doubletrouble_vb]

There are a lot more owners and now there are a lot more people who are aware that there are substantial (and I do mean substantial) savings to be had by renting points from DVC members versus paying Disney.

At the same time the renters just aren't really aware of what the difference is in the service between being at the resort on DVC points.

At the rate the disparity is going I won't be surprised to see Disney start offering to rent points from DVC members at $3 to $5 per point in order to grab space in the HAFH resorts during prime Disney (as opposed to DVC) seasons. It'd be unDisney-like but it's also low hanging fruit.

 

[dianeschlicht]

Originally posted by doubletrouble_vb
There are a lot more owners and now there are a lot more people who are aware that there are substantial (and I do mean substantial) savings to be had by renting points from DVC members versus paying Disney.

At the same time the renters just aren't really aware of what the difference is in the service between being at the resort on DVC points.

At the rate the disparity is going I won't be surprised to see Disney start offering to rent points from DVC members at $3 to $5 per point in order to grab space in the HAFH resorts during prime Disney (as opposed to DVC) seasons. It'd be unDisney-like but it's also low hanging fruit.

I think you are absolutely right, and I really hate to see that. I have never rented points out, and I doubt I ever will, but I too hate to see our resorts cheapened. I think when people "pay less" for a great Disney experience, they treat it like it isn't worth much, and maybe that is why we see so many problems like garbage outside the rooms at BCV and rooms not being ready on time because there is so much "clean up" to do between guests who don't treat the property like an owner does.

 

[mbhoxsie]

I too have noticed a high number of Q&A about renting lately...

I tend to believe it is because of the fact that having recently purchased, and are renting out points to pay off some of the financing..

 

[rocketriter]

I'm hearing two issues in this discussion.

One is that more people might be buying DVC points to rent as a business. We know that Disney doesn't approve of this, and it doesn't help the rest of us any more than a bunch of renters helps a condo association. I certainly feel that discussion of these matters belongs on the renting board.

The other issue is that some uses of member points aren't as economical as others. As a result, some members like to convert points into cash to apply to those uses. This is something I want to read about and hope will continue appearing on this board.

 

[jmatias]

It's all the Disney Magic's fault

In our case, renting our points was just a matter of timing.

We had our WDW trip planned since last June. Then we found a great BWV contract which just closed this April. So our original intent was to bank our 2004 points to use next summer.

Well....then the Magic had to go West for 2005 and we just have to be on it

So...we decided to rent our 2004 points. I wanted to make sure that I did everything correctly so I posted some questions and read as many posts as I could to develop my "rental plan" Thanks to all the great info on the boards I was able to rent my BWV points and feel comfortable with the situation.

I have to admit that my DH is more comfortable with our DVC knowing that if something comes up and we aren't able to use our points that there is another option.

 

[maminnie]

I too think a lot of point renting has to do with DCL and DVC and the extreme amount of points it costs to cruise. When we were on the Magic in April there seemed to be a lot of DVC members. It would be interesting to know if a lot of people are renting to cruise on cash rather than points. Anyone?

 

[Johnnie Fedora]

I rent out every couple of years, and the main reason I rent is that Disney (over the past 3 years) has increased the points for DC and DCL exchanges so much, your left with little choice if you want to try other vacations options outside of the DVC resorts. So...maybe Disney's "surcharge" is a big part of the problem.

I'm sure most DVCers would rather the ease of using points for other Disney vacation options and leave the renting out of DVC units to Disney. However, as far as trades go, the Disney gloved hand reaches so far into your "points pocket", you've no choice but to slap it away.

As there are more and more members, there will be more and more renting. As a percentage of DVC units, the amount of renting probably stays at the same level over time.

Some DVCers who rent out their points, may need to take some customer service training, and renters need to understand the DVC system at least a little bit before the lay their money down.

 

[mikesmom]

Not that I think anyone needs to be a "professional" renter, but I have noticed lately when someone goes on the Rent/Trade Board and asks for a standard room at BWV at 4 months out or during the F&W fest, or some equally improbable room there seem to be folks that are quick to tell them they have points available to take care of them. I always think "why did they do that? someone's going to get disappointed". The folks making the offer always seem to have low posts, likely to know less about what they are doing.

 

[Deb & Bill]

mikesmom: I agree with those rapid comebacks on "I have points available" when we all know that the chances of anything being available at DVC is slim to none.

I'm getting tired of the whiners who want points for $4 or 5 so that can give Little Susie the only trip she is ever going to get. Or the renter who wants GF concierge service for $9 a point, an unlimited guarantee and SERVICE RIGHT NOW!!!! Or they are getting a lawyer.

I don't rent my points. I use 'em myself. I'd give them to friends and family first.

The DIS ought to offer the legal services to handle the rentals for a fee.

 

[Disney4ever4569]

There are a lot more renters out there due to SSR. When I bought SSR, DVC gave me $5 per point off as a bonus and offered me another $5 per point off if I sold back all my points for the first year. Since I was already checking out the DIS boards before I bought, I knew that people generally rented for $10 per point. So to me it was a "no-brainer" to keep the points and leave my options open. I could used them all at a GV, I could have banked them, but what I did was use half and rent the other half out. It helped take care of my dues for this year and the rest towards my initial investment. I don't plan on doing this on a regular basis, but a lot of new SSR owners can't do too much else with their points this year. DVC has not undertaken such a big resort since OKW and from what I've read about the history of OKW, SSR is selling a lot faster. It doesn't make SSR better, but its just a fact that its selling quicker and creating more new DVC members and quicker pace.

 

[TnRobin]

So far this has be a civilized discussion, but I have seen a few post that are bordering on the contrary. Please do not make remarks that point to particular individuals.

As far as where the topic should be discussed, this is the discussion board. The Rent/Trade Board is just a place to meet others for a Rent/Trade Board. That is why those discussions are allowed here and if they are posted on the Rent/Trade Board they are moved here.

 

[Tagrel]

Haven't rented yet, but I'm glad that the option exists. Between high priced trades like DCL and the fact that in 40 - 50 years, things will just 'come up' that necessitate renting that year.

As in all things, its the buyer and sellers responsibility to do their homework. Some people will get this, and some people won't. If and when I rent points I will be thoroughly 'checking out' the renter (as I hope they 'check out' me). I'll do searches on their posts to get a feel for their personality (it really does come through in how you present yourself here on the boards) and I'm sorry, but a newer member will need to establish a 'history' (think ebay rating here) before I would rent them points.

One other point that I haven't seen yet - as the years go on I would only expect rentals to increase. The first few years people will want to use their DVC. Then every so often they will wish to vacation elsewhere (Well, in theory anyway!) With 70,000 members and growing its only to be expected.

And as to it being a 'bargain' to rent points - and that being bad due to a devaluation of the DVC properties. Why are all attempts that wish to discuss the true value of rental points 'attacked'? Granted there is a difference between just saying, "OK - everyone start charging $12 a point" - THAT is price fixing. But why NOT discuss how much points should cost in a general sense? It seems it should follow fairly closely behind what Disney is charging for the same units. (Minus the daily housekeeping and taking in mind the difference in cancellation policies)

How much the owner pays in dues or original cost should be irrelavant. What you PAY for something has no true meaning to its VALUE to sell. That depends on market conditions. Personally, I think the $10 per point should be much more fluid than it is currently.

Just another couple cents!

 

[CarolMN]

Originally posted by Tagrel
....(snip).......How much the owner pays in dues or original cost should be irrelavant.

ITA. IMHO, that's especially true if you are renting to a stranger (as opposed to gifting or renting to family and friends).

Originally posted by Tagrel
What you PAY for something has no true meaning to its VALUE to sell. That depends on market conditions. Personally, I think the $10 per point should be much more fluid than it is currently.

Just another couple cents!

Again, ITA. Add my two cents to yours and now we have four. (For whatever that's worth, LOL).

P.S. Haven't rented yet, either and I'm also glad the option exists. That said, I still can't see having any extra points to rent for a long, long time!

 

[Dean]

Originally posted by Tagrel
And as to it being a 'bargain' to rent points - and that being bad due to a devaluation of the DVC properties. Why are all attempts that wish to discuss the true value of rental points 'attacked'? Granted there is a difference between just saying, "OK - everyone start charging $12 a point" - THAT is price fixing. But why NOT discuss how much points should cost in a general sense? It seems it should follow fairly closely behind what Disney is charging for the same units. (Minus the daily housekeeping and taking in mind the difference in cancellation policies)

I think we've done that in several threads. The problem is that different people look at this in different ways. I think there's a pretty good consensus that price fixing is not reasonable and is likely illegal. Otherwise you have different camps. Most people fall into one of two groups though. These are those that feel you should only rent for your dues or there abouts and those that feel it should be what they market will bear. The first group are mostly anti renting, the later group is a mixed bag of several types of opinions. But I think there's a pretty good consensus that a DVC point is worth at least $10 pp or more in the rental market

 

[Nick@ VB+OKW]

Originally posted by maminnie
I too think a lot of point renting has to do with DCL and DVC and the extreme amount of points it costs to cruise. When we were on the Magic in April there seemed to be a lot of DVC members. It would be interesting to know if a lot of people are renting to cruise on cash rather than points. Anyone?

We already rented 300 pts to cruise next Feb on the Wonder. We saved 150 pts by doing this. I would NEVER use pts to cruise unless they were expiring.

 

[Tagrel]

Originally posted by CarolMN
P.S. Haven't rented yet, either and I'm also glad the option exists. That said, I still can't see having any extra points to rent for a long, long time!

Actually, I see us in this group as well. We are cruising this year, and instead of renting points, I greedily kept them to use next year to 'Share the Magic' with good friends of ours! I just can't give those puppies up.

Wait - not true. I DID rent 14 points to someone to try BWV for one night before buying... I made DVC several thousand bucks on that rental!