The owner whom is renting the points already has the points - the rentee is simply obtaining a one time reservation through the owner.
If you have a specific resort you wish to stay at and you know your dates TRY to rent with a person who OWNS at that resort as they can make ressie 11 months out - ie - If you want to stay at BWV rent through someone who has BWV points to rent.
Also understand what is expected from you and when as the rentee and what is offered or you expect from the renter.
Many DVC owners view renting as a FINAL transaction - meaning if you cancel you would receive no monies back - some renters would attempt to rebook your vacation (as long as the points used to obtain the ressie were going to still be usable). JUST UNDERSTAND the specifics or ask BEFORE RENTING.
Good Luck
Sue
PS
I would suggest you use someone who has been on these boards for a bit - not someone who has a thread count of 1
While is it referred to as "renting points" it really is a DVC Member making a reservation and renting that reservation to someone else. I think the reason it became known as "Renting Points" is usually those interested looked at a point charts to see how many points were required for their reservation, and also it was convenient to price it per point.
in the top right hand corner of your screen, you will see a link to DVC Point Charts.
go to the chart for the resort you want, let's use AKV as an example. for AKV, during the period of aug 16-31 each weeknight in a savanna view studio will "cost" 13 pts and each weekend night will "cost" 26 pts. so a 7 night stay will cost 13x5nights + 26x2nights = 117 pts. (BTW, if your stay crosses seasons, just add up the point cost per night.)
you are not actually "buying" the points, but that does tell you how many the member has to spend to get the 7 night stay. the member will then make the reservation if it's available and charge you based on the number of points it cost them. so if they are charging $12 per point, you would pay $12x117 = $1404.00 for the 7 night stay at AKV.
DVC is a points-based timeshare. For example, I purchased a 150 point contract at VWL. That means I get 150 points a year, and I use those points to 'pay' for my stays at DVC resorts.
Each kind of room at each resort has a nightly point cost. That's what you're seeing in the point charts at the top of the page. For instance, a studio at VWL costs 12 points a weeknight in the cheapest season.
"Renting points" is kind of a misnomer, because as a renter, you're not getting points - only the owner can do anything with points. You'll tell the owner what kind of villa you want, at which resort, and for which dates. The owner will make a reservation for you with their points. You'll pay the owner a previously agreed upon amount for this. Owners charge by the point. So, for example, if your 4 night reservation at VWL costs 48 points, and the owner charges $10 a point for the reservation, your total cost would be $480.