Renting out points

[maureenmac]

Has anyone used Dave's Vacation Rentals recently?
TIA

 

[justadreamaway77]

My nephew and his wife have....they have a trip planned for beginning of May

 

[DduzDis]

Has anyone used Dave's Vacation Rentals recently?
TIA

I have a renter there right now through David's.

 

[DisneyRegulars]

I’ve used them to rent out a ton of my points this year. I think I have 4-5 reservations done through them, I’ve lost track! Super easy from an owners perspective. However, I had much better luck renting out a confirmed reservation than waiting for someone to request my SSR points for rent.

 

[legler2250]

Dave's Vacation Points is a great place to rent out points with a friendly staff. However at 15.5 dollars per point it doesn't compare to some other US based companies unless you are trying to avoid paying taxes (not recommended).

I prefer DVC rental store as you can select the contracts that you want to book and they rent for 16 dollars per point. With Dave's you just let them know how many points you have available and they email everyone at a first come first serve basis.

 

[Marionnette]

I would read through David's intermediary agreement before deciding to use them. They put the entire risk and responsibility of a DVC shutdown on the owner. True, what happened in 2020 isn't something that is likely to occur again in our lifetime but the very fact that David's policy is written in such an owner-unfriendly way just demonstrates how little regard they have for owners.

I second the recommendation to use the DVC Rental Store. They pay better and have a better intermediary agreement for owners.

 

[Sandisw]

I used them during the pandemic and while I was fortunate to have not been impacted by the issues he had and how he dealt with renters and owners, I don’t like his new contract for owners.

If I rent, I will use DVC rental store instead because I think they dealt with things better than and are more owner and renter friendly.

 

[DeeCee735]

I just saw this thread. I've used David's a few times to rent out some of our points in the past. Currently have two rentals for May. We aren't thinking we'll rent again any time soon (but things can change quickly), but if we do, I'll be sure to familiarize myself with the new contract mentioned in this thread.

We never had any problems with this service, in fact I found it to be quick, easy and friendly prompt service, but if the contract is not as good as it used to be, (like everything else around us lately), we will check out DVC rentals. Thanks for the awesome info, as usual

Dee

 

[DeeCee735]

Yup, I just read the new agreement. However I didn't see if it says that in case of a force majeure, where a member would have to essentially pay back David's for the 70% received by Davids from the renter and forwarded to the DVC owner, that David's in turn would reimburse the renter, so it must still be non-refundable to the renter's? (didn't get that far in my reading}.

So if the renter has paid David's and received a confirmation number, and David's pays the owner the 70% deposit and then there's (GOD FORBID) another situation like COVID, David's expects that 70% back from the owner and it's just theirs to keep? Owner would get back the full points that were on that rented reservation and hope they weren't banked or borrowed? Am I missing something?
I'm guessing this was prompted by the pandemic causing David's Rental Co some major losses.

 

[DduzDis]

Yup, I just read the new agreement. However I didn't see if it says that in case of a force majeure, where a member would have to essentially pay back David's for the 70% received by Davids from the renter and forwarded to the DVC owner, that David's in turn would reimburse the renter, so it must still be non-refundable to the renter's? (didn't get that far in my reading}.

So if the renter has paid David's and received a confirmation number, and David's pays the owner the 70% deposit and then there's (GOD FORBID) another situation like COVID, David's expects that 70% back from the owner and it's just theirs to keep? Owner would get back the full points that were on that rented reservation and hope they weren't banked or borrowed? Am I missing something?
I'm guessing this was prompted by the pandemic causing David's Rental Co some major losses.

I think David's offered the renters vouchers for a later rental. They did reach out to owners for a voluntary refund (not at all required of the owners at the time). I did refund mine as it was relatively small, it didn't cost me anything and I could still bank the points. Now it is a risk with the reworded contract. I don't expect an event this month (my last rental for a while). I too will evaluate rental options if I get to a point I want to rent out my points again in the future.

 

[Marionnette]

Yup, I just read the new agreement. However I didn't see if it says that in case of a force majeure, where a member would have to essentially pay back David's for the 70% received by Davids from the renter and forwarded to the DVC owner, that David's in turn would reimburse the renter, so it must still be non-refundable to the renter's? (didn't get that far in my reading}.

So if the renter has paid David's and received a confirmation number, and David's pays the owner the 70% deposit and then there's (GOD FORBID) another situation like COVID, David's expects that 70% back from the owner and it's just theirs to keep? Owner would get back the full points that were on that rented reservation and hope they weren't banked or borrowed? Am I missing something?
I'm guessing this was prompted by the pandemic causing David's Rental Co some major losses.

Yep. David's keeps the renter's money and issues a credit to them. From the renter's sample agreement:

12. In the event of a Force Majeure (as defined in this paragraph), each party shall be excused from any future performance of obligations under this agreement; provided, however that if Intermediary has collected 100% of the funds for the reservation from Renter, Intermediary will provide to Renter a Credit which is limited in value to the amount paid for the reservation <snip>

 

[Sandisw]

Yup, I just read the new agreement. However I didn't see if it says that in case of a force majeure, where a member would have to essentially pay back David's for the 70% received by Davids from the renter and forwarded to the DVC owner, that David's in turn would reimburse the renter, so it must still be non-refundable to the renter's? (didn't get that far in my reading}.

So if the renter has paid David's and received a confirmation number, and David's pays the owner the 70% deposit and then there's (GOD FORBID) another situation like COVID, David's expects that 70% back from the owner and it's just theirs to keep? Owner would get back the full points that were on that rented reservation and hope they weren't banked or borrowed? Am I missing something?
I'm guessing this was prompted by the pandemic causing David's Rental Co some major losses.

Owners refund the money and the renters are given a voucher to use for a future trip.

The thing is that, as an owner, you could be stuck with points that can’t be used or rented again and end up with no money and no points that do you any good.

So, the real loser in all of this is the owner, which is why I won’t use him.

 

[DeeCee735]

Owners refund the money and the renters are given a voucher to use for a future trip.

The thing is that, as an owner, you could be stuck with points that can’t be used or rented again and end up with no money and no points that do you any good.

So, the real loser in all of this is the owner, which is why I won’t use him.

I hear ya on that! It is definitely making me look elsewhere, should we look to rent again.
I'm about to look at DVC Rental just to educate myself. I'm so happy I found this thread! Thank you!

Dee

 

[bumbershoot]

The thing is that, as an owner, you could be stuck with points that can’t be used or rented again and end up with no money and no points that do you any good.

Hasn't disney done their best to help those with orphaned points from 2020, though?

 

[Sandisw]

Hasn't disney done their best to help those with orphaned points from 2020, though?

They did help but it was an unprecedented event and no guarantee we would see the same situation if the issue isn’t as catastrophic as what happened.

It could be simple things like a hurricane and if the company deemed it as a force majeure, owners could end up with no say, and no exception from DVC. There are still owners out there who did lose points even with DVCs generous rules.

IMO, it penalizes the owner unfairly over the broker and renter.

 

[McCrae]

Owners refund the money and the renters are given a voucher to use for a future trip.

The thing is that, as an owner, you could be stuck with points that can’t be used or rented again and end up with no money and no points that do you any good.

So, the real loser in all of this is the owner, which is why I won’t use him.

How could David enforce payment back from an owner based outside Canada? Court action would be very difficult and expensive.

 

[Sandisw]

How could David enforce payment back from an owner based outside Canada? Court action would be very difficult and expensive.

You agree to it in the contract. Of course, anyone who doesn’t want to abide by what they signed might get away with it, but it does say he gets to take you to court in Canada

But, the point is more, as an owner, I am not getting into a contract with terms that IMO are not owner friendly.

 

[McCrae]

You agree to it in the contract. Of course, anyone who doesn’t want to abide by what they signed might get away with it, but it does say he gets to take you to court in Canada

But, the point is more, as an owner, I am not getting into a contract with terms that IMO are not owner friendly.

I agree and I feel the same way. It’s a very weak contract for him to try and enforce.

 

[DeeCee735]

Hi. I just read the agreement from the DVC Rental Store. I'm wondering how often #8, modifications to reservations occurs? It sounds like a major hassle and it's not been our experience with David's where a guest cancels a trip and the member has to cancel, and rebook for someone entirely different. Is this as much of an issue as I'm thinking it may be?

TIA
Dee

 

[Marionnette]

Hi. I just read the agreement from the DVC Rental Store. I'm wondering how often #8, modifications to reservations occurs? It sounds like a major hassle and it's not been our experience with David's where a guest cancels a trip and the member has to cancel, and rebook for someone entirely different. Is this as much of an issue as I'm thinking it may be?

TIA
Dee

8. DVC Member agrees to modify reservations as directed by The DVC Rental Store including but not limited to the following:

a. So long as DVC Member’s points do not expire prior to the new reservation request, if directed, DVC Member shall cancel the existing reservation and book a new reservation, utilizing the original points from the cancelled reservation, per instructions provided by The DVC Rental Store. In this event, the existing Point Use Rental Agreement will be terminated, and a new Point Use Rental Agreement with the same Point Use Rate payable to DVC Member will be executed between Member and new Guest. DVC Member will be paid the full Point Use Rate based on the original reservation plus a $50 courtesy fee to make said changes.​

b. If directed by The DVC Rental Store to do so, DVC Member shall remove the original lead Guest, as well as other Guests and, change all contact information per instructions provided by The DVC Rental Store. In this event, the existing Point Use Rental Agreement will be terminated, and a new Point Use Rental Agreement with the same payout to DVC Member will be executed between Member and new Guest. DVC Member will be paid the full amount based on the original reservation plus a $50 courtesy fee to make said changes which shall also be the consideration for entering into a new Point Use Rental Agreement.​

c. All modifications will still be subject to the same agreed terms in this Intermediary Agreement. There is no set limit to the amount of modifications, however, for each modification the DVC Member will receive a $50 courtesy fee.​

I see it as fair compensation for what they ask the member to do. They're paying $50 in exchange for cancel/rebooking a reservation with the same per-point compensation as the original agreement. So, that's $50 to spend 5 minutes online cancelling and booking a new reservation or emailing/chatting with MS to change the lead name on an existing reservation. Plus, they actually acknowledge that a member's points may expire and only hold the member to making the changes if their points remain valid for a new reservation.

I guess some members would prefer to rent their points, collect their money and be done with the process. And that's why these intermediaries exist. I would be fine with these terms but I can see when some might not care to agree to them.