Selling points

bonnielynn

DIS Veteran
Joined
Jan 15, 2005
Messages
1,508
I have points that I am not going to use this year.. (148) they have been banked (have to be used by 5/31/08)... I was thinking of selling them, but am very concerned about it, I guess the unknown and all..

How hard is it to sell the points and has anyone had a really bad experience with it? I know you have to do a contract.. and there is a discussion as to the downpayment (some say pay in full, some say 20-50%)..

I think I am just intimidated with the whole thing.. help!
 
To avoid confusion . . .

For correction, the term for what you want to do is "renting points". "Selling points" would mean that you're selling DVC contracts.
 
Even more correct would be "renting a reservation". Don't give them away. Keep control of the reservation. Make sure you get all your money with plenty of time to rebook a new reservation if you need to.
 
I have points that I am not going to use this year.. (148) they have been banked (have to be used by 5/31/08)... I was thinking of selling them, but am very concerned about it, I guess the unknown and all..

How hard is it to sell the points and has anyone had a really bad experience with it? I know you have to do a contract.. and there is a discussion as to the downpayment (some say pay in full, some say 20-50%)..

I think I am just intimidated with the whole thing.. help!

I hope you mean they have go be used by 5/31/09 because if it is 08 you have already lost them. You might try to find family or friends that would be willing to rent a reservation. That way you might feel more comfortable. Just be sure to set payment dates and cancellation or no cancellation policies. I rented some to a co worker and spelled everything out before we made the reservations. Once I had the confirmation for him he paid me in full. It worked out well for both of us. I didn't lose my points and he got a real deal on a Disney vacation.
 

wow ... see if I can't get the terminology right on the disboards.. how am I suppose to sell, rent or whatever ?
 
First let me say that I came here with a question. I dont plan to sell points until I am sure about what I am doing.

Being on the disboard is a daily education. I was really surprised by the reaction to this question. The PM that I got.

I didn't mean to offend nor would I do anything to make other renters look bad.. I will not use a broker to sell my points, thanks for the suggestion.

Again.. just trying to learn.
 
Hi. we really nervous the first time we rented points from someone, even being dvc ourselves. It worked out really well..we had a contract and we paid in full at the beginning. I am however much more comfortable doing a transfer of points because to be a renter you have no control. It scares me that someone is still holding those points and my money and could cancel the reservation without me knowing. You get to the hotel and no room!
 
Since you have banked the points, they can only be rented now. I would just make sure you really talk to the person who is renting and get a contract and references, just in case.
 
You may want to do a transfer. I have read on the rent/trade page members looking for a transfer. Just remember that you can only do 1 transfer per year (either in or out) so you would want someone to take all the points. Good luck!
 
Renting points is sometimes a hot topic. Hope the PM wasn't out of line. Certainly, we have had all kinds of stories good and bad.

I would suggest you open a PayPal account if you don't already have one. Asking for all money up front, which I think is a must, is difficult for the renter to feel comfortable doing. This way they can pay by credit card or by PayPal account and have comfort knowing they have a way to recourse should you steal their money. In this scenario you retain control of the points, but you also become a travel agent.

Renting to another DVC member is a bit easier if you transfer the points. In this scenario you are done with it after the transfer, but you have lost all control of points. Again, you should have all money in hand before transferring your points.

Good Luck.
 
It wasn't offensive.. just someone saying that I need to get educated, that it makes other renters look bad if I am not.. and that maybe a broker would be the way to go..

I do come here to read up on things and to try to educate myself on being a dvc owner (have only been since May).. so there is alot of things I dont know and am glad to say that I am learning.

I think these boards are for people like me that don't have all the answers and are looking for them. Renting seems to have hit a bit of a nerve and I am sure in a couple months I will get it as well as to why.

I do have a paypal account and do feel like that gives the renter/owner some sense of security..

Thanks for your advice. I will continue to read on.. and perhaps not step on the same nerve!!;)
 
I rent out some of my points every year that I don't get a GV(which is about every third year). After awhile you will get regulars who come back to you, because they trust you. First, in your ad state what you are charging per point. Do NOT dicker--unless you want to spend a lot of time online. Say "$11 firm" if that's what you want for the points. "Payment by Paypal" or however you want the money to come. I usually have $100 down when the ressie is made, with the rest coming to me when they receive a copy of the reservation, which is usually way ahead of when my points expire. I will make the reservation, but I cancel if I don't receive an immediate response(24 hours). However, send an email saying, "I need to hear from you immediately, saying how soon you will be sending the $100, or I will be forced to cancel your reservation", and then follow thru. I have never been ****ed, so I am pleased with how things go. Your ad on the Rent/Trade board has certain guidelines that must be followed, or a computer automatically deletes your ad. IT'S A PAIN IN THE ***, so find an ad that was posted on the board, and copy it exactly. That will be the only wording that the computer will accept for the Board.

I would not rent your points out, because you lose control of them, unless the member will give at least 1/2 the $$ ahead of time, and preferably all of it. If you begin getting return renters, you can relax your standards. I tell my returnees to "send the money before my dues are due", like November or December, and they usually will send me an email stating how they would like to pay. I know they are not going to stiff me on the $$. I don't usually advertise anymore on the Board, because friends usually tell friends, and then they email me.

Last, keep a paper copy of what they asked for, what you added, name and address, and payment schedule, and check it off. Make a note if you had to send extra messages to get $$. And ALWAYS be polite!;) Treat them how you would like to be treated if the tables were turned.:)
 
I rent out some of my points every year that I don't get a GV(which is about every third year). After awhile you will get regulars who come back to you, because they trust you. First, in your ad state what you are charging per point. Do NOT dicker--unless you want to spend a lot of time online. Say "$11 firm" if that's what you want for the points. "Payment by Paypal" or however you want the money to come. I usually have $100 down when the ressie is made, with the rest coming to me when they receive a copy of the reservation, which is usually way ahead of when my points expire. I will make the reservation, but I cancel if I don't receive an immediate response(24 hours). However, send an email saying, "I need to hear from you immediately, saying how soon you will be sending the $100, or I will be forced to cancel your reservation", and then follow thru. I have never been ****ed, so I am pleased with how things go. Your ad on the Rent/Trade board has certain guidelines that must be followed, or a computer automatically deletes your ad. IT'S A PAIN IN THE ***, so find an ad that was posted on the board, and copy it exactly. That will be the only wording that the computer will accept for the Board.

I would not rent your points out, because you lose control of them, unless the member will give at least 1/2 the $$ ahead of time, and preferably all of it. If you begin getting return renters, you can relax your standards. I tell my returnees to "send the money before my dues are due", like November or December, and they usually will send me an email stating how they would like to pay. I know they are not going to stiff me on the $$. I don't usually advertise anymore on the Board, because friends usually tell friends, and then they email me.

Last, keep a paper copy of what they asked for, what you added, name and address, and payment schedule, and check it off. Make a note if you had to send extra messages to get $$. And ALWAYS be polite!;) Treat them how you would like to be treated if the tables were turned.:)

Really great advice... thanks!:thumbsup2
 
I do have a paypal account and do feel like that gives the renter/owner some sense of security..

Just to keep you informed, this is a false sense of security, it makes it easier to pay perhaps but no security involved. If something goes wrong on either end, Paypal is not going to help.
 
A couple of posters said you should transfer the points. However these are banked points and banked points cannot be transferred so that is not an option.

If you want to 'rent' them then the only choice you have is to find someone who wants a reservation, make a deal with them, then use your points and make the reservation in their name. Remember, you are 'renting' a reservation. You are not renting 'points'.

If you wish to use the rent/trade board be sure you read the sticky posts that explain how your thread needs to be titled, which would be "Points for Rent", and read the specific instructions about that particular category.

If you have any specific questions on using the rent/trade board, feel free to PM one of the r/t board moderators.

In regards to the 'hot' button regarding renting, that refers mostly to people who make speculative hard to get reservations, such as Thanksgiving or Christmas, with no intention of using it themselves, but strictly to rent out for high profit. DVC prohibits rental activity that is part of a commercial enterprise. The whole idea of rentals is intended for your particular situation, where you have points you cannot use one time and wish to rent them rather than having them go to waste.

Don't worry about some of the comments you may get from some of the more 'commercial renters' who try to get the rental prices high so they can enjoy their profits.
 

















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