Renting out points from an owner's perspective?

[Tracyvp]

We are fairly new owners, having purchased our points while on a cruise. We've only used our points once, and we banked this year's points in January because we really aren't going to have time to take a vacation this year at all.

We would like to take a cruise in May of 2010 and we understand that it's better to rent out our points and use cash for the cruise.

But, being still so new, I'm just not sure I understand all the ins and outs of renting points. As a matter of fact, I wouldn't have the first idea how to start! Is there a tutorial somewhere that goes over the process from the owner's perpective? I read the one from the renter's perspective, but it is of limited help for me.

I'd love it if someone could post a link to a clear explanation! Understand that I still get confused about Use Year, Banking Points, and Borrowing! I'm still trying to get it all sorted out in my mind but it's one of those things that doesn't stick with me because I'm not currently using the information. I keep thinking I have it all down, then a couple of months goes by and I have to "relearn" it all over again!

Any help would be greatly appreciated! : Thanks so much!

~Tracy

 

[cseca]

Hi Tracy,
There's a whole board for specifically renting/transfering points:
http://www.disboards.com/forumdisplay.php?f=29

If you read the stickies you should be able to have most of your questions answered.

If there are specific questions you can't find answers for, feel free to post them.

Just a couple general advice:
1. Be comfortable with the transaction. Trust your instinct. If something sounds fishy, don't do it.
2. Use contracts. Clear understanding between you and your renter.
3. Consider the points you are renting when deciding due dates to accept payments. Don't want to miss your banking deadline in case your renter decides to cancel the trip at the last minute.

Good luck with renting!

 

[Deb & Bill]

Hi Tracy,
...3. Consider the points you are renting when deciding due dates to accept payments. Don't want to miss your banking deadline in case your renter decides to cancel the trip at the last minute.

Good luck with renting!

Many members don't allow any cancellations and won't refund anything for a cancellation.

Make sure you get the payment with enough time so you won't be stuck with a reservation you can't use and no payment from the non-member.

 

[kimberh]

I agree with all the above. I treat it just as Disney would, your money is due on..... your balance is due on......, I send a email reminding them about 2 weeks prior of the final payment.

Now, if someone emails me to say my check was mailed and the mail may be a day or two slow, I don't cancel the reservation because of slow mail. I'm not inflexible. The check has always shown up. I've even had a few families pay monthly so not to have a big final payment. That's fine with me. They have still paid the deposit amount that I needed up front. I make the reservation, then send the contract, with the payment arrangements. That way we are all on the same page.

 

[Inkmahm]

I might also suggest transferring to a fellow DVC owner rather than renting to a non-owner. I've been on both sides of a transfer and it is much less work than renting, Imho.

 

[Tracyvp]

Thank you all so much for the wonderful replies. We're still trying to decide whether to try renting our points ourselves or maybe use a service the first time out. Either way, it's nice to know we have the option!

Have a wonderful day!

~Tracy

 

[thepops]

Also in your contract you'd want to have something about room damages and any costs billed to the room (in case they credit card they use is NG and you get stuck with the bill)