Renting points

[PhillyBear]

Just started looking into renting points for the end of October 2018. Was curious on everyone's preference between David's and Rental Store. I know rental store offers the insurance but it seems like it's less useful the closer you get to your vacation. Was also curious what would stop a owner from canceling the reservation after we finish the transactions.

Thank you

 

[Ben E N]

Just started looking into renting points for the end of October 2018. Was curious on everyone's preference between David's and Rental Store. I know rental store offers the insurance but it seems like it's less useful the closer you get to your vacation. Was also curious what would stop a owner from canceling the reservation after we finish the transactions.

Thank you

I can only speak to the quality of David's, but they were great to work with for our most previous trip this past summer. As for ensuring that their client does not cancel - they withhold paying the renter their funds until you check in. You pay David's the full amount upfront, though.

 

[disneynutz]

Renting requires trust by both parties, it helps if you have an owner with experience in using their ownership and renting.

Bill

 

[Matty B13]

In the 18 months I’ve been on disboards, I have yet to hear of an owner canceling a reservation on a renter. I’m sure it has happened, but is rare. If not using David’s or another rental website, you can always ask for references from an owner.

 

[Marionnette]

JHwust started looking into renting points for the end of October 2018. Was curious on everyone's preference between David's and Rental Store. I know rental store offers the insurance but it seems like it's less useful the closer you get to your vacation. Was also curious what would stop a owner from canceling the reservation after we finish the transactions.

Thank you

From an owner's perspective, David's pays less and only thru PayPal. However, David's also reaches a larger audience.

David's does not offer their own insurance but encourages renters to seek their own travel insurance. Another rental agency offers their own insurance but like you pointed out, it pays out less and less the closer you cancel to your arrival date. Insurance also adds to the overall cost of the rental, which makes it more expensive but it is a safeguard in the event of a natural disaster, like Irma, or a personal incident that makes traveling impossible.

All rental agencies hold back a portion of the funds from the owner to ensure that they don't take the money and run. That money does not get paid to the owner until the renter successfully checks into their resort. When the rental agency acquires a reservations for you thru an owner, you will be given a reservation number that you can link in MDE so that you can confirm that you have it.

I have read of less than a handful of incidents where a renter lost their reservation. One was thru a private rental where the person pretended to be an owner, took the money and then was never heard from again. Two were from the same agency and likely the same owner. Those two were refunded by the agency because replacement reservations could not be made. The best that we could tell, the owner had not canceled the reservations but it may have been a case of DVC cancelling because the owner was behind on their dues/mortgage.

 

[crisi]

Just started looking into renting points for the end of October 2018. Was curious on everyone's preference between David's and Rental Store. I know rental store offers the insurance but it seems like it's less useful the closer you get to your vacation. Was also curious what would stop a owner from canceling the reservation after we finish the transactions.

Thank you

What is to stop the owner from cancelling - pretty much nothing but the contract. If you go through a broker, the owner will only get half their money upfront, which means for the other half, they have to keep the reservation intact. But honestly, half the money covers dues and if someone wanted to scam, its easily done - and the only likely recourse would be court. (In theory, there could be criminal charges, in a pragmatic sense, there wouldn't be).

But it almost never happens. When working with brokers, the broker will guarantee your money (refund it if the reservation gets cancelled - they likely won't be able to replace the room) - but it still almost never happens.

 

[Deb & Bill]

In recent years, most cancellations were by Disney, not the owner for various reasons. Either they were a mega-renter and were busted by DVC or because they failed to pay their fees to DVC.

 

[_auroraborealis_]

Most renting owners are pretty honest. If trust is a big issue for you, renting may not be your best choice, however.

 

[GotLabradors]

We rented with an owner we found here on the DIS. It does take a lot of trust, but I think most DVC owners who rent points are not doing so in order to scam anyone.

 

[dvcer97]

We rented with an owner we found here on the DIS. It does take a lot of trust, but I think most DVC owners who rent points are not doing so in order to scam anyone.

I have listed my points with David rental and had no issues I have also rented privately and no issues. You have to just trust as stated on this board.

 

[Chuck S]

It is faith, trust, and pixie dust.

 

[crisi]

Most renting owners are pretty honest. If trust is a big issue for you, renting may not be your best choice, however.

The bigger issue isn't the chance they will cancel. If that is going to give you sleepless nights, however, its a big issue. The bigger issue is that you don't understand what you are contracted to get. We've had people upset when their rental couldn't be refunded due to pregnancy or health issues or job loss. Or they can't add a day three months out when the airfare is way better, or shift a week or two. We've had people upset because no one told them about the sleeper sofa or lack of housekeeping and clean towels or they wouldn't be in the main part of the resort. We've had people upset that renters don't get DVC membership benefits, or that they can't put a package with tickets together and have to buy their own tickets and link them.

 

[PhillyBear]

The bigger issue isn't the chance they will cancel. If that is going to give you sleepless nights, however, its a big issue. The bigger issue is that you don't understand what you are contracted to get. We've had people upset when their rental couldn't be refunded due to pregnancy or health issues or job loss. Or they can't add a day three months out when the airfare is way better, or shift a week or two. We've had people upset because no one told them about the sleeper sofa or lack of housekeeping and clean towels or they wouldn't be in the main part of the resort. We've had people upset that renters don't get DVC membership benefits, or that they can't put a package with tickets together and have to buy their own tickets and link them.

We have trip insurance with our credit card and understand all the other restrictions with renting points. But thank you for your input.

 

[supersnoop]

We have trip insurance with our credit card and understand all the other restrictions with renting points. But thank you for your input.

I doubt your credit card's trip insurance would cover a points rental.

 

[PhillyBear]

If you go through one of the brokers I think it just comes up as a dollar amount you're renting the room for. If I went through a individual owner it wouldn't be covered.

 

[_auroraborealis_]

I've definitely seen people have issues with the credit cards on point rentals. Saw some drama elsewhere during Irma on that score.

 

[crisi]

Yep, and if you cancel voluntarily, trip insurance won't cover it. No one's trip insurance will cover a voluntary cancellation on a non-refundable room. Sometimes weather, usually medical or death, and sometimes job loss.

 

[PhillyBear]

Yep, and if you cancel voluntarily, trip insurance won't cover it. No one's trip insurance will cover a voluntary cancellation on a non-refundable room. Sometimes weather, usually medical or death, and sometimes job loss.

That's how trip insurance works.

 

[megveg]

pardon my ignorance but I vaguely remember that one of these companies is in Canada and has a fee associated with it? could someone clarify? I have come to the realization that I will be renting points in the future and I am so nervous about the process and Im trying to learn everything I can, thank youu

 

[PhillyBear]

pardon my ignorance but I vaguely remember that one of these companies is in Canada and has a fee associated with it? could someone clarify? I have come to the realization that I will be renting points in the future and I am so nervous about the process and Im trying to learn everything I can, thank youu

David's it's based in Canada. Your credit card company might charge you a percentage for the transaction. Check with your credit card to see if you have foreign transaction charges.