Risk of renting points

[czmom]

I have rented points in the past for my own vacations, but will soon be a DVC owner. Yay!

Our contract will come with some points that we will need to rent out. My question is...as an owner, what are the risks associated with renting points? Does going through a company vs on our own make a difference?

 

[Sammie]

The risk is damage to the unit. Ultimately if DVC/Disney could not get the renter to pay, your account would be frozen until it was settled or you paid.

Also there have been a few cases where room charges were not taken care of at check out due to CC that were not valid and those costs were passed to the member.

As to using a Broker that would be a question you would need to ask them.

 

[RobDoc]

From the DVC documents:

"A Club Member may make a reservation to use the accommodations of the Condominium or other DVC Resorts, if any, himself, make their use available to family or friends or guests, or rent them solely through his own efforts. DVD's approval of a rental by a Club Member is not required after a reservation has been made in the renter's own name, and Club Members are permitted to rent their occupancy rights on terms and conditions that they may establish. No rental assistance is being offered by DVD or DVC or any affiliate or subsidiary of DVD and DVC. All renters must comply with the rules and regulations affecting occupancy, and the renting Club Member will be responsible for the acts or omissions of his renters or any other person pr persons permitted by the Club Member to use the accommodation. Neither DVD nor DVC in any way represent or promote that a particular DVC Resort accommodation can be rented, or if it is rented, that any particular rental rate can be obtained for such rental."


In over 15 years of rentals via the DIS DVC Rent/Trade Board, we have never had a report of damages to a villa being charged back to the member that I can recall.

There have been a couple of situations where DVC Members have reported credit card issues with their guests (both cases were family members and not renters - not that it makes any difference) where DVC deactivated the Member's account until the charges were paid. In both of those cases, the charges were paid by the guests and the Member's account was released from any further responsibility.

While these are very infrequent problems with renters/guests, they can, and have, occurred over the years.

 

[czmom]

Thank you!

 

[crisi]

The other big risk is not getting paid. Some members ask for half up front and half 60 days out. Or whatever. Whatever your date is - make it before your points go into holding and stick to it. Make it very clear that "I'll have the check to you next week" will result in a cancelled reservation.

 

[Sammie]

Also due to some recent postings about upgrades, I would make sure in the contract you cover, that asking for an upgrade is not allowed when renting.

Some new to renting do not understand that DVC point bookings and cash reservations are very different.

You would not want your renter to get an upgrade and have those extra points taken from your account which could happen.

Also that they can not pay cash for the difference to upgrade, basically just have a contract that is very clear as to what they get, and what they don't get with a rental.

 

[czmom]

Also due to some recent postings about upgrades, I would make sure in the contract you cover, that asking for an upgrade is not allowed when renting.

Some new to renting do not understand that DVC point bookings and cash reservations are very different.

You would not want your renter to get an upgrade and have those extra points taken from your account which could happen.

Also that they can not pay cash for the difference to upgrade, basically just have a contract that is very clear as to what they get, and what they don't get with a rental.

Great things to consider!

 

[czmom]

The other big risk is not getting paid. Some members ask for half up front and half 60 days out. Or whatever. Whatever your date is - make it before your points go into holding and stick to it. Make it very clear that "I'll have the check to you next week" will result in a cancelled reservation.

Thank you!

 

[myzel]

I will assume that the points that need to be used are already banked, if not then bank them. If you are not overly concerned with loosing them rather than trying to rent them, then pick a close friend or family member that can afford to get to Disney and book them a vacation. Makes a great Christmas or B'day present.