Renting out points???

[amystevekai&bump]

Hi

I am just in the process of signing my DVC contracts, and have been surprised with the news that I am getting 2008 AKV points (I thought both my AKV & BLT contracts were starting in Dec 2009).

We aren't visiting WDW until Dec 2010, which means I won't be able to us these Dec 2008 points (as even banking them would only take them to end Nov 2010).

I therefore am considering renting them out, but I noticed on a UK Renting board that someone has/had some points for rent, and they had an expiry of this year, because the owner didn't want to bank them. Can I just ask, is there a reason why someone might not want to bank them??

Sorry, I am totally new to all this, and I thought banking was really easy, and now I am wondering if there is some reason I haven't thought of, that would mean I wouldn't want to bank them either!!

I just thought if I banked mine, it would give me another 12mths to try and rent them out??

Thanks for any info!!

 

[Claire L]

Perhaps the other renter had already banked the points? Points can only be banked from the current UY to the following UY.

Claire

 

[arielrocks]

If you Bank the points then don't manage to rent them or use them you will loose them.

I will only bank points if I KNOW I will be using them myself for a holiday. (if that makes sense)

 

[amystevekai&bump]

Perhaps the other renter had already banked the points? Points can only be banked from the current UY to the following UY.

Claire

Hi Claire!!

She worded it that she -didn't want to bank them', so I'm not sure - all I can think is that she wanted it all done and dusted quickly, and thought banking them would possibly mean it would take longer to get a buyer for them if they had a longer expiry date???

If there is no disadvantage to banking points, I can't think of any other reason??

 

[amystevekai&bump]

If you Bank the points then don't manage to rent them or use them you will loose them.

I will only bank points if I KNOW I will be using them myself for a holiday. (if that makes sense)

these are my first points on a new contract (they are Dec 2008 points) and we aren't able to visit WDW until Dec 2010.

So even if we bank them they will still expire before our next trip, so I guess I was thinking of banking them as I thought it would give me a longer 'window' in which to find someone else to use them - Is that a good idea??

 

[PurpleTurtle]

Hi Claire!!

She worded it that she -didn't want to bank them', so I'm not sure - all I can think is that she wanted it all done and dusted quickly, and thought banking them would possibly mean it would take longer to get a buyer for them if they had a longer expiry date???

If there is no disadvantage to banking points, I can't think of any other reason??

I can't think of why you wouldn't want to bank points other than just wanting the cash now. Once you bank you do have to use them by end of the following use year or you'll lose them. I believe banking is a final transaction, too, so I don't think you can move them back to the current use year if you bank them and then your plans change and you want to use them after all. But, you could then borrow if you needed points in this use year. Someone correct me if I'm wrong.

 

[arielrocks]

its not a disadvantage to bank your points, but if you know you Won't use them then renting them makes sence. Banking them does extend them into the following use year, but if they are not used by then you will loose them.

For me, I like to think the I can borrow from my next year if needed, but wouldn't want to bank and carryover as I would be afraid of missing the banking window or get too stressed about not using them in time.

But that is just my personal preference - I am sure its illogical to everyone else but it works for me!!

Re your points, you need to confirm when your banking window is - call Member Services and check as there is a deadline for banking points and if you miss it you loose your points!!!

 

[CarolMN]

If you do not bank the points, they will be good for a stay (or rental) until 11/30/2009. You have until July 31, 2009 to bank the 2008 use year points.

If you bank them, the banked points must be used between 12/1/2009 and 11/30/2010.

So the decision to bank would depend on when a renter wants to visit.

My advice is to try to transfer the points to another member (Don't bank them if you decide to do that. Banked points cannot be transferred.).

If you can't get a transfer completed before 7/31/2009, then bank the points and look for renters who want to visit after 12/1/2009, but before 11/30/2010.

Good luck!

 

[Inkmahm]

If you do not bank the points, they will be good for a stay (or rental) until 11/30/2009. You have until July 31, 2009 to bank the 2008 use year points.

If you bank them, the banked points must be used between 12/1/2009 and 11/30/2010.

So the decision to bank would depend on when a renter wants to visit.

My advice is to try to transfer the points to another member (Don't bank them if you decide to do that. Banked points cannot be transferred.).

If you can't get a transfer completed before 7/31/2009, then bank the points and look for renters who want to visit after 12/1/2009, but before 11/30/2010.

Good luck!

What she said!

I personally don't plan to ever rent points to anyone, I will only transfer them to fellow DVC members. I don't want to worry about making a reservation for someone and having them back out. With a point transfer, once they are transferred they are out of your account and out of your control. The fellow DVC member makes their own reservation.

You shouldn't have trouble finding a DVC member who would want a transfer of AKV points.

 

[DipsyDoodles]

I think the OP may be referring to a new AKV contract through Disney. We are in the process of signing our new contract for 160 AKV points and we are also getting 2008 points along with our 2009 points as an additional incentive. We currently have 320 points available! This is in addition to the other incentives and referral discounts. It is a nice package.

 

[amystevekai&bump]

Hi - thank everyone for your advice - thats helped alot!!

Yes these are in effect new 'extra' points that I just can't use (renting was never part if the equation for me until these landed in my lap unexpectedly!!)

I actually think I will give them to my mum so that she can have a weeks vacation and she will then just have to pay for flights!! Is that easy enough to do - do i just ring in the same way I would if I was booking for myself, but just give them my mum's info too??

Sorry to ask another question - I am just so new to all this DVC stuff!!

 

[bobbiwoz]

Hi - thank everyone for your advice - thats helped alot!!

Yes these are in effect new 'extra' points that I just can't use (renting was never part if the equation for me until these landed in my lap unexpectedly!!)

I actually think I will give them to my mum so that she can have a weeks vacation and she will then just have to pay for flights!! Is that easy enough to do - do i just ring in the same way I would if I was booking for myself, but just give them my mum's info too??

Sorry to ask another question - I am just so new to all this DVC stuff!!

Yes, just make the reservation with your DM's name and you'll/she'll be all set. What a nice thing to offer and I hope she can enjoy the vacation!

Bobbi

 

[amystevekai&bump]

Yes, just make the reservation with your DM's name and you'll/she'll be all set. What a nice thing to offer and I hope she can enjoy the vacation!

Bobbi

thanks Bobbi - thats nice and easy. My mum does a lot for us, and it would feel really nice if, for once, we could do something special for her!