renting points

[Erica H]

Morning! DVC Owner since 2015, but new to renting points! I have rented a few times with great success, and have a great contract that I adapted from a woman that we used to rent from.

This is my first time doing a bigger rental contract (355 points) so a larger amount of money. Reservation date is March 30th. My question is, how would you go about accepting payment? Its a large amount, so pay in full via Venmo isn't an option. Should I do a down payment with Venmo, with balance by check within a certain amount of days? What would you suggest that are some good options?

Thanks for your help and advice

 

[Chuck S]

I've never rented a large number of points in one reservation. Most of the time I simply offered the points, and made reservation upon the request of the renter...but that really isn;t the question...

When I rented, I used PayPal, with 50% due when the reservation was made, and the balance 45 prior to travel, or 45 days prior to my backing window (as I was renting current UY points) which ever came first.

Does Venmo not allow large payments?

 

[muppets3d]

Wire transfer? Zelle? Mailed check? Western Union? Money order? Tons of options other than Venmo.

I would not do a reversible payment method like paypal, personally. I guess it's probably unlikely but I'd always be worried the renter would file a paypal dispute, and paypal would side with them, AFTER they've already checked in. Then I'm out the points and the money.

 

[lilsonicfan]

I've done Paypal rentals - the renter pays by Friends and Family so there's no dispute to be filed.

 

[Erica H]

Thank you for that paypal info! Thats exactly what I want to avoid. I think Venmo has a limit... I know Zelle does.
I'm leaning towards a venmo/zelle deposit, and balance via check within 7 days.

 

[Chrisdriscoll]

I had that situation last year with Venmo. What I did was allow the renter to break up the payment into smaller payments and pay me over several days. I want to say the limit was $2500 but im not 100% sure of that.

 

[muppets3d]

I had that situation last year with Venmo. What I did was allow the renter to break up the payment into smaller payments and pay me over several days. I want to say the limit was $2500 but im not 100% sure of that.

You may also run into monthly limits as well, which breaking up across days wouldn't help - especially if the renter uses their Venmo account for other purposes than just paying you. I like OP's idea of a down payment via Venmo and a mailed check for the rest.

 

[Tatebeck]

From what I remember Venmo does a weekly limit. I had to pay my brother a bunch of money for stuff after our mother died, I had to do it in increments. I think it was 5k per week at the time

 

[CraigInPA]

I did a 200 point transfer ($3500) via paypal friends and family. F&F cannot be reversed.