Renting Out Points Question

[Eyore4Ever149]

I wasn't sure if I should post here or under misc.

We have decided we need to rent some of our points, we have a vacation set for Oct. Our use year is Sept, so come Sept I will have 210 pts, I can either barrow them to book someone's vacation if it's prior to Sept or just use them during the use year.

My understand (from reading the posts here) is that we can only rent out points once pr use year, correct?

Should I use a contract of some sort once I find someone to rent points to?

If I rent to someone, I understand I need to call and book it- it goes under their name and address, correct?

Will I have to book their ADRs for them, or can they do this themselves?

I know I've seen that people do 50% down and 50% 30 days before their trip, should I wait to recieve the 50% down before I book the trip (if I have to borrow the points and they cancel on me Im screwed)

Information I need from them- Name, address, phone, # of ppl in party. Do I need ages of people in party? Anything else? Do I need names of all people in parrty?

Sorry for so many questions, Im not quite sure where else to go to get all this info. I know Disney frowns on renting points so I dont expect to get someone really helpful over at member services.

lastly, why are people renting their points for so cheap???? Some ppl are offering as low as $9.50 a point! We will ask for $12. which seems to be on the higher side, but we need some cash right now, not to throw away our points. We have to pay dues in addition to whatever we get from the points. I have not checked on what rack rate is for DVC properties for non DVC members, but Im thinking they are getting a good deal...

Thanks for any advice you can offer.

Nicole

 

[dianeschlicht]

I wasn't sure if I should post here or under misc.

We have decided we need to rent some of our points, we have a vacation set for Oct. Our use year is Sept, so come Sept I will have 210 pts, I can either barrow them to book someone's vacation if it's prior to Sept or just use them during the use year.

My understand (from reading the posts here) is that we can only rent out points once pr use year, correct? No, you can make more than one rental reservation, but you can only TRANSFER points to another member once in a use year.

Should I use a contract of some sort once I find someone to rent points to? definitely.

If I rent to someone, I understand I need to call and book it- it goes under their name and address, correct? yes

Will I have to book their ADRs for them, or can they do this themselves? They do that themselves by calling the regular dining number after they have the confirmation number from your booking. If they want DDP, you will have to reserve that for them, but they will pay for it when they check in.

I know I've seen that people do 50% down and 50% 30 days before their trip, should I wait to recieve the 50% down before I book the trip (if I have to borrow the points and they cancel on me Im screwed) Do NOT borrow points unless or until you have money. I'm not sure I'd want to book on borrowed points anyway.

Information I need from them- Name, address, phone, # of ppl in party. Do I need ages of people in party? Anything else? Do I need names of all people in parrty? Yes, names, addresses, phone numbers and ages of all people in the party.

Sorry for so many questions, Im not quite sure where else to go to get all this info. I know Disney frowns on renting points so I dont expect to get someone really helpful over at member services.

lastly, why are people renting their points for so cheap???? Some ppl are offering as low as $9.50 a point! We will ask for $12. which seems to be on the higher side, but we need some cash right now, not to throw away our points. We have to pay dues in addition to whatever we get from the points. I have not checked on what rack rate is for DVC properties for non DVC members, but Im thinking they are getting a good deal...

Thanks for any advice you can offer.

Nicole

Don't let anyone talk you down to less than your asking price. ESPECIALLY if you are using BORROWED points!! Remember that to use your next use year's points for a ressie now doesn't necessarily mean they will be borrowed. If the people you rent to want to stay after the begining of your use year, they wont be borrowed points.

 

[drusba]

What people rent for is up to them. For example someone who has a September use year and wants to offer a rental for a stay between now and September and has to borrow points to do so is someone who may want to assure that a renter comes along quickly and is someone who might want to insist on entire payment up front with no refund for cancellation and thus may be someone who wants to charge a lower price to get a renter to accept such terms.

There is no one per year rental limit. You are confusing renting where you use your points to make a ressie for another (which does not involve a transfer of points) and the separate and distinct "transfer" rule which allows you to transfer points to another member (or receive points from another member) only once per use year.

You probably should use a written contract -- set out terms of rental, what happens (i.e., does renter lose deposit or owe everything) if renter cancels, including if they cancel 30 or less days out when you would end up in a holding account, and the Official documents require that certain provisions be in the agreement such as that the renter will be bound by the resort rules and regulations.Also, written contract should explain that daily maid service is not provided (so you do not get complaint later if renter does not understand the rules for timeshares). How much (percentage) you require up front before making ressie and when rest is due is up to you.

You need names and addresses of all guests, and ages if any are under 18. Not sure you need phone number to make their ressie but you will need it yourself.

They should be able to make their own dining reservations through Disney's general dining number.

 

[Eyore4Ever149]

Thank you so much.

Do you know where I might be able to find a points rental contract?

 

[Eyore4Ever149]

Bump- Does someone have a Points Rental Contract template I could use?

 

[jekjones1558]

Here are a couple of threads that might help:

http://www.disboards.com/showthread.php?t=895654
http://www.disboards.com/showthread.php?t=1255828

 

[Eyore4Ever149]

Looks like some good reading! I got about 5 posts down and remembered I have ladies coming to my house this morning for a prayer group! I better put the DIS down and get busy!

PS. Totally love your little girl in her Cinderella gown!!! Did you buy it at the World or elsewhere?

 

[jekjones1558]

Say a prayer for me, while you're at it!
Cindy is my great (or is there such a thing as grand?) niece. I bought the dress on eBay. It was cheaper than the $60 gowns in the parks and actually better quality.
Good luck with your rental. I've never done it myself but may need to someday.