Renting points...reports anyone?

[bookgirl2632]

For our next trip, we are thinking about possibly renting points. We are interested in the DVC and would love to try it out this way. Has anyone here rented points before buying and how easy was it? I just want to know what to expect if we decide to do it.

 

[mikeandkarla]

There have only been a few horror stories. Almost all reports have been great. Doc has a good sticky posted a top one of these boards that worth reading for new potential renters. Good Luck.

 

[JimMIA]

Here is the basic FAQ from the Rent/Trade board: http://www.disboards.com/showthread.php?t=1069406

For your first read of this thread, scroll down to the bottom and read "A Word to the Wise." It contains a lot of great, basic information about renting.

The other thread mentioned above is at the very top of the board, and it discusses the need for proper due diligence in entering into a rental agreement.

There are several basic concepts you need to understand about a rental:

1. A DVC rental is NOTHING like making a ressie through CRO or a travel agent. You will save money, but the tradeoff is there will be some limitations and restrictions on the ressie.

The best protections you can have in a DVC rental are thorough understanding of the process by both parties, and well-established trust between the owner and renter. You'd think we owners would all have perfect understanding of our accounts, but you'd be wrong and that lack of understanding can become your problem.

2. Unlike a regular ressie, a rental is a private transaction between you and the owner you rent from. If any issues arise, you are on your own. Neither DVC nor the DIS have any ability to intervene into your rental transaction. Therefore, it is imperative that you thoroughly research the owner you rent from and establish a solid base of confidence in them...and vice versa. There is risk on both sides, and both of you need to be comfortable.

3. A DVC rental is not for people whose plans may be subject to unexpected change. Any change to a ressie after booking involves a cancellation and rebooking (obviously subject to availability at that time), and there can be substantial penalties for cancellations. If your plans change, the owner may have zero ability to help you.

The issues that come up in cancellations are probably the greatest difference between a regular ressie and a DVC rental, so be sure you and the owner both clearly understand what will happen if your plans change. Don't take, "Oh, don't worry about that, I'll work with you if anything happens." That is usually a sign of an owner who doesn't know what they are doing.

Most recommend some sort of a written agreement that clearly spells out the terms of the rental in plain English. Doing an agreement forces both parties to understand the transaction, and clarify any fuzzy areas prior to payment. At a minimum, the agreement should contain the dates, accommodations, number of guests, cost, payment schedule, and cancellation policies.

4. The rented DVC ressie will show you and your party as the guests, but the ressie belongs exclusively to the owner until you check in. It's their account, and only they have control over anything regarding their account. That means an unscrupulous owner could cancel the ressie at any time. That very rarely happens, but it's one of the main reasons why trust is so necessary.

The other effect of this is that anything that must be done through MS must be done by the owner -- DDP, DME, room requests, etc. MS will not speak to a non-owner.

5. This is not a biggie for me, but you will not receive daily housekeeping when staying at DVC. You will get a "Towel and Trash" service on day four of your stay, and a full cleaning on day eight, I believe...but not daily service. You can get daily service any time you want it, but it's an extra charge.

6. You will receive all of the normal benefits of staying onsite (DME, free theme park parking, EMH, etc, etc.), but you will not receive DVC member benefits like pool hopping, discounts, etc. You will be able to get DDP without buying park tickets, but as mentioned above, the owner will have to make those arrangements for you. You pay for DDP at checkin.

Do your homework, and have a great trip!

 

[Wigit12]

I think it's a great (and less expensive) way to test DVC. Be prepared to LOVE it!!

We've done it twice for "testers" and both have bought in.

Just make sure you're 100% comfortable with the person you rent from. It's all about trust in this situation (on both parts).

 

[magicaldisney]

We rented last year and are renting again this November. Great experience for us. Please read what JimMIA has posted. If you are, in any way, not comfortable with one item he mentioned, then renting would not be for you.

It is fairly easy to find someone to rent points from. Check the rent/trade forum here on the DIS. Getting the resort you would like is trickier. If you can commit to the reservation 11 months out, you will probably have no problems. However, the closer you are to the time you want to vacation, you might not have a choice on where you stay.

Good Luck!

 

[dvcbrad]

I'm a fairly long-term owner (since 1998) and considering doing this for the first time this year. What do I, as an owner, need to be concerned about? Any insight would be greatly appreciated.

 

[Granny]

I'm a fairly long-term owner (since 1998) and considering doing this for the first time this year. What do I, as an owner, need to be concerned about? Any insight would be greatly appreciated.

Try this thread which has a ton of information for owners thinking about renting... DVC Point Rental Primer

 

[AmandaCagle]

We are not DVC members but are renting points/reservation at a DVC resort. I just called member services (prior to finding this thread), and learned that they will not provide any information or services since I'm not a member. That got me concerned with how check-in works. Will we be required to provide a member number (from the DVC member that we are renting from) or something else? I would really appreciate a response from a non-member so that I can be fully prepared at check-in.

 

[magicaldisney]

I am a renter and you should have received a confirmation # and/or a copy of the reservation from the person you're renting from.

 

[JimMIA]

We are not DVC members but are renting points/reservation at a DVC resort. I just called member services (prior to finding this thread), and learned that they will not provide any information or services since I'm not a member. That got me concerned with how check-in works. Will we be required to provide a member number (from the DVC member that we are renting from) or something else? I would really appreciate a response from a non-member so that I can be fully prepared at check-in.

The checkin process is pretty simple and you won't need anything about the member's account. The reservation will be in your name.

As noted above, it's a good practice to have the owner send you a copy of the confirmation letter they receive from MS. Keep in mind, though, that the confirmation letters can take 2-3 weeks to get to us, and there have been numerous complaints among owners about not ever receiving the confirmation letter. So if the owner tells you they haven't gotten one yet, that does happen regularly. Ask them to recheck with MS and get you a letter.

Each owner's policy on confirmation letters is a little different. Some don't expect any payment until you receive the letter, others won't send the letter until you're paid in full...and many others are somewhere in between. Remember that your rental is a private transaction between you and the owner, so whatever their policies are, they govern the rental despite anything you may read here.

 

[ScottakaMickey]

I've rented twice. One was at the end of May, rented 76 points for 5 nights at OKW. The process with the renter was smooth. She stated her requirements for the transaction up front, made the reservation in my name and then sent the copy of the confirmation to me. I then paid her and all was done. You have to trust the renter as you don't have a lot of control here and ultimately don't have any way to know if they then canceled on you until you get there.

My second one is in progress where they had a one day already in their name. He changed the name, provided me with a copy of his reservation and I'm waiting for the copy with my name on it. That stay is the first week in July.

There are risks here, but ultimately its a very affordable way to do Disney and stay on property.

 

[Wilsonfamily4]

We also rented points from a DVC diser. It was so easy. She made reservations and sent me a confirmation letter. I then paypaled her half the amount and 90 days before our trip we paid the remainder. I was very nervous going to check out. I trusted the lady but you just never know until you check in. I had brought all my paperwork with me but it wasn't even needed. They just asked my name and then I was in. SO EASY. And we loved SSR so much we are going to buy DVC in the spring!!! Then I am sure I will try being the seller of points someday.