Renting out extra points??

[lovetotraveltx]

I rented on my own once, several years ago. One person was great the other almost cost me a lot of money, with bounced check...

How and when do you receive money from a person you don't know? And, when do you change the name to the renter?

Thank you!
PS: I apologize if all this has been covered!

 

[mustinjourney]

I rented on my own once, several years ago. One person was great the other almost cost me a lot of money, with bounced check...

How and when do you receive money from a person you don't know? And, when do you change the name to the renter?

Thank you!
PS: I apologize if all this has been covered!

Something like PayPal might be a safer alternative.

 

[mustinjourney]

It's not that simple.

I'm guessing that the brokers don't think they can increase the price to their customers without losing a large share of them. Their prices are capped based on what Disney is charging for comparable rooms. Renters give up some amenities/features when they rent - i.e., housekeeping, a liberal cancellation policy, more flexible payment options, etc. They expect a good discount from Disney's effective rates in return. Also we have to remember that if its hotel rooms are not filling to its satisfaction, Disney is prone to discount and/or offer promotions such as free dining. Those discounts further limit the price that can be charged for DVC rentals.

So until Disney raises its effective rates or until the brokers are willing to give up some of their profit, they won't be offering more to their suppliers.

If you have excess demand, then raising the price should not hurt you since you can afford to lose some of the potential clients.

I agree though to a certain extent -- you have to be careful about getting too close to Disney's pricing -- but right now, it seems that pricing is about 40% or more cheaper than what Disney is charging (even with 25% off), so there are still a few dollars per point of wiggle room. Earlier this year, I got a hotel room at GF and paid around $500+tax a night. That's $3500 + tax per week on that room -- and that was with 25% off rack rate. Same type of room at VGF is around $2250 (assuming paying $15 a point).

Not to mention, if you rent early -- you have a lot more options on types of rooms that are just not available through Disney. For example, getting a 2BR villa at VGF thru Disney is not easy at all...and if you can get it, I think it is somewhere between $1500 and $2200 a night. To rent it out, it would be about $700 a night in low season and $1290 during peak DVC season. Those are significant savings.

Personally -- I would be hesitant to be a renter due to the lack of flexibility in cancellation. It's tough to schedule 12 months in advance.

 

[Mickeypooh99]

I rented on my own once, several years ago. One person was great the other almost cost me a lot of money, with bounced check...

How and when do you receive money from a person you don't know? And, when do you change the name to the renter?

Thank you!
PS: I apologize if all this has been covered!

This is what scares me. It's the reason I use a broker if I'm not renting to family. Luckily my family usually uses up my excess points.

 

[disland7]

I don't want to start a new thread so figured I'd ask a related question here...
I just closed on a VGC contract with 157 banked points. We are thinking of going to AUL with some of them but will have extra to rent out (60ish points). I've only been on the dis for a few months so I likely won't be a member long enough to rent out on the R/T thread. Should I pay the $50 to be allowed to post to the board? Is it even worth trying to rent out? Or should I upgrade my room choice at AUL? We would like to get the extra cash from renting out to use to do fun stuff at Hawaii if possible.

 

[CinderBelleDVC]

From the Rent/Trade Board thread entitled: **How to use this Board**
".......... The R/T Board is the only board on the DIS that allows DVC members to post an offer to rent points or reservations. Offers posted on other boards of DISboards.com, offers via PM, and offers by email are not allowed. Neither are offers posted in another member's thread. Members MUST use their own points to make reservations and may not act as a third party rentor or use a third party for rentals on our board. The details of all transactions must be made by the member offering their points.

For those who have not been able to actively participate by posting on the DIS over the past 6 months, we have another option allowing purchase of the ability to have a thread post on the DVC Rent/Trade Board. Details may be found at DVC RENT/TRADE FORUM MEMBERSHIP PLANS . All registered DISboard members may purchase the ability to submit threads (Gold Membership plan). Those registered more than 6 months are also able to purchase the Premium membership plan. A special icon will be added in your board profile identifying you as having purchased one of these options. Once the icon is in place, rental threads will be accepted from those not meeting the posting requirement.


When you create a new thread, it will not immediately appear on the Rent/trade board but instead goes first into a Moderation Queue where it will be reviewed ............"

yes, I read that shortly after posting. thank you.

 

[starry_solo]

I don't want to start a new thread so figured I'd ask a related question here...
I just closed on a VGC contract with 157 banked points. We are thinking of going to AUL with some of them but will have extra to rent out (60ish points). I've only been on the dis for a few months so I likely won't be a member long enough to rent out on the R/T thread. Should I pay the $50 to be allowed to post to the board? Is it even worth trying to rent out? Or should I upgrade my room choice at AUL? We would like to get the extra cash from renting out to use to do fun stuff at Hawaii if possible.

Depends when the points expire. Maybe make a spec reservation?

Would you be able to make a reservation with those babies points more than 7 months out?

 

[starry_solo]

True. So I asked the two better known rental sites how it would be handled. One replied that their rental agreement will offer legal recourse so that I, the owner, and they, the middle man, won't be on the hook. Now, perhaps it's a false sense of security on my part, but I would imagine this rental site won't want to risk their reputation by hanging me out to dry should they have trouble getting reimbursement from the renter after promising to me I won't be responsible.

LAX

I would ask what the legal recourse is. Maybe the agreement says that the renter is required to pay the damages but who is there to enforce it?

 

[kniquy]

You could alleviate any headaches (or most of them) by transferring to another member the entire amount. I just recently transferred in to my account and it was very smooth and simple on my end. For your protection you could require a bank check prior to make the transfer. The other member i worked with was very prompt, gave me a reference number and i was able to book an hour after the transfer was complete. You probably make out better without having to pay a brokers fee and once the points are transferred you don't have to worry about any legal issues or problems with the villa.

 

[LAX]

I would ask what the legal recourse is. Maybe the agreement says that the renter is required to pay the damages but who is there to enforce it?

Good question. I am really counting on the rental agency to go to bat for me. Again, it might be a false sense of security, but if the rental agency has trouble getting a payment for damage/theft from the renter(s), I can't imagine how I would have any success if I were to encounter the same when renting on my own. Some people may be feel the additional income by cutting out the middle man is worth the risk, but I don't mind paying for a little peace of mind.

LAX

 

[starry_solo]

Good question. I am really counting on the rental agency to go to bat for me. Again, it might be a false sense of security, but if the rental agency has trouble getting a payment for damage/theft from the renter(s), I can't imagine how I would have any success if I were to encounter the same when renting on my own. Some people may be feel the additional income by cutting out the middle man is worth the risk, but I don't mind paying for a little peace of mind.

LAX

I seriously doubt the rental company would sue someone for any owner. While there may be a breach of the contract between renter and broker, they would have to show damages to prevail. More likely than not, they would assign any rights they have to the owner to pursue a remedy.

 

[LAX]

I seriously doubt the rental company would sue someone for any owner. While there may be a breach of the contract between renter and broker, they would have to show damages to prevail. More likely than not, they would assign any rights they have to the owner to pursue a remedy.

Since this hasn't happened to the rental agency I am dealing with, how they would handle something like this is pure speculation. All I care is I won't be alone in trying to recover any potential damage/theft. I know it's not a good analogy, but it's kind of like buying travel insurance, no one knows how a claim would be handled until one is filed.

LAX

 

[MouseOfCards]

Good question. I am really counting on the rental agency to go to bat for me. Again, it might be a false sense of security, but if the rental agency has trouble getting a payment for damage/theft from the renter(s), I can't imagine how I would have any success if I were to encounter the same when renting on my own. Some people may be feel the additional income by cutting out the middle man is worth the risk, but I don't mind paying for a little peace of mind.

LAX

You bring up some interesting and valid points. Thought of these things before, but never to that level. Your thinking is very deep!