Sorry if in wrong spot... what's the cancellation policy for rented points??

[moopdog]

We've rented points at OKW for a week in September and with the "free meal plan" deal at the value resorts, we almost HAVE to attempt getting out of our rental agreement and taking the deal. It will save us tons of money.

However, I'm not sure IF we can do it... IF we lose money or IF it's morally okay to do. In other words, while I be 'screwing' the person who rented the points to me, or should I not be concerned with that? I don't want to do that to someone, but if the policy is in place, I assume it's there to be used on occasion right? Please any info would be great, as my rental agreement doesn't reall cover it.

TIA!

 

[DebbieB]

There is no policy in place for rental points, that is a private deal between you and the member.

 

[tjkraz]

As DebbieB said, point rental is a private transaction between two parties. You'll need to contact the renter and see if he/she is willing to make any accommodations.

Please realize that DVC members renting points are not travel agencies. The person with whom you dealt went to a lot of trouble to make contact with you, check on availability, draft a contract and make a reservation. Now you're asking that he/she repeat the process because you found a better deal.

DVC places a lot of limitations on how / when / where points can be used. The member has already committed his/her points to your reservation, and could be facing a loss if asked to try to re-rent the points.

At the very least, I'd expect the member to make any refund to you contingent upon his/her ability to re-rent the points to another individual. Or you may just be told that the transaction is non-refundable.

 

[Wish I lived in Fl]

I have rented points but with the understanding that is was final. No refunds, a reschedule if possible if i couldn't vacation when planned.
The dining package is tempting, especially if free but OKW is a really nice resort with large DVC rooms even in the studios. Kitchenette is great.

So i think the ethical thing is too talk yourself out of the dining package.
Bad points of dining pkg? Overeating, time spent in restaurants instead of in park.
Le Cellier takes 2 hours for lunch. That really takes away from park time and DD4 had to be walked outside twice.

 

[dianeschlicht]

(snip) In other words, while I be 'screwing' the person who rented the points to me, or should I not be concerned with that? I don't want to do that to someone, but if the policy is in place, I assume it's there to be used on occasion right? Please any info would be great, as my rental agreement doesn't reall cover it.

TIA!

Yes, you will be putting the person who owns the points in a tough spot. Most rental contracts require payment in full after which time there are no refunds. As tjkraz pointed out, these are individuals renting out their timeshare, not travel agents. They probably did so to use that money for a different trip. I suspect if you cancel now, it might be very difficult for you to rent again.

 

[JimMIA]

We've rented points at OKW for a week in September and with the "free meal plan" deal at the value resorts, we almost HAVE to attempt getting out of our rental agreement and taking the deal. It will save us tons of money.

However, I'm not sure IF we can do it... IF we lose money or IF it's morally okay to do. In other words, while I be 'screwing' the person who rented the points to me, or should I not be concerned with that? I don't want to do that to someone, but if the policy is in place, I assume it's there to be used on occasion right? Please any info would be great, as my rental agreement doesn't reall cover it.

TIA!

Interesting post. I'm a little surprised that you haven't really been flamed -- but it IS early in the day.

Point rentals are ideally based on several things. The most important is mutual trust, and it has to be said here that we are talking about the kind of mutual trust which is not situational with every shifting wind.

Say you rented points for $10 per point -- how would you feel if the DVC owner canceled your reservation because they got an opportunity to rent for $12, or to rent two weeks worth of points instead of one? OR better yet, how would you feel if the owner read your post, got nervous, and sold the reservation out from under you to protect themselves? [Just so everybody understands - that DOES NOT happen here.]

A second basis of rentals is a clear understanding by both parties about all of the groundrules for the transaction - including the very important "what-ifs." Whether that is spelled out in a contract, or a written statement of "policies," on in some other manner, it's critical that both parties understand what will happen if plans change. If you and the owner have entered into a business contract (either written or oral) without that kind of understanding, shame on both of you.

You need to contact the owner and see what, if anything, they are able to do for you. There is no set way of handing situations such as yours, because there are too many variables. Your cancellation may cause the owner to lose all of the points.

 

[wdwstar]

You really need to talk to the member that you rented from and simply ask what your options are if you back out of the transaction. also be very concern and ask if this will leave their points in any distress. you are canceling before the 30 day, the points wont go into holding, you do need to find out when the points will expire, if they expire the end of sept 2005 then that would be putting the points in distress, unless the member can rent them out and release you from the transaction. or if the member had to borrow the points into his 2004 or 2005 use year then those points remain in his 2004 or 2005 use year when he cancels your ressies.then those points will need to be used before the end of his use year, that could be putting the points into distress. you may not understand about the point system that is why you need to ask questions and read your contract or agreement if you had one about canceling. did you have a contract or agreement with the member? I think you should check out what disney charges for OKW a night and then figure out what you paid to rent the points for OKW and then how much you would spend on food, i bet it will come out the same if not very close, then this way you wont have to cancel your okw rental from the very kind dvc member that rented his points to you. we all freak out when we hear FREE, but if you do your math sometimes its not always the better deal.
you could go with a moderate and save money but you cant compare the moderate to a deluxe home away from home room.

 

[dianeschlicht]

Interesting post. I'm a little surprised that you haven't really been flamed -- but it IS early in the day.

Point rentals are ideally based on several things. The most important is mutual trust, and it has to be said here that we are talking about the kind of mutual trust which is not situational with every shifting wind.

Say you rented points for $10 per point -- how would you feel if the DVC owner canceled your reservation because they got an opportunity to rent for $12, or to rent two weeks worth of points instead of one? OR better yet, how would you feel if the owner read your post, got nervous, and sold the reservation out from under you to protect themselves? [Just so everybody understands - that DOES NOT happen here.]

A second basis of rentals is a clear understanding by both parties about all of the groundrules for the transaction - including the very important "what-ifs." Whether that is spelled out in a contract, or a written statement of "policies," on in some other manner, it's critical that both parties understand what will happen if plans change. If you and the owner have entered into a business contract (either written or oral) without that kind of understanding, shame on both of you.

You need to contact the owner and see what, if anything, they are able to do for you. There is no set way of handing situations such as yours, because there are too many variables. Your cancellation may cause the owner to lose all of the points.

This is a post I think should be added as a sticky to the rent/trade board. very welll put, Jim.

 

[moopdog]

This is why I'm posting... for info. It's plain to see that it is not ethical, and therefore, I'm not doing it. I had already emailed the member asking what her "policy" is, but realize that I should have asked that at the beginning and also that she may tell me to take a hike anyway. I will email her again (haven't gotten a reply yet anyway) and tell her nevermind. I already have ASMo for the first 3 nights and that's when we'll have our free dining... will not have the plan while at the OKW for the rest of the 5 nights, but hey - that's the whole point of having a kitchen right?

Thanks to all!!

 

[Y-ASK]

This is exactly why I will never understand why some DVC owners rent points with half down and half 60 days from the date of the reservation. It just makes no sense to put yourself in this situation. What happens if you've borrowed the points to make the reservation? You can't put them back into that use year and you have to use them right away. What happens if the dates are such that you can't bank the points. Kind of puts the DVC owner on the spot don't you think? All rental transactions should be paid in full at the time the renter is provided with the confirmation number. The transaction is non-refundable. I personally will do everything I can to change the reseravtion or re-rent the points if requested to do so (I just did that a couple of days ago for another renter), but if it cost me extra cash it's going to cost the orginal renter that extra cash. They may not get what they paid for the points back.

I really don't think you need a formal written contract either. Just state your refund policy and simple terms for payment and leave it at that. Unless you have a lawyer write up a contract and everyone signs it in front of a notary (who wants to go through that hassle) then I seriously doubt any aggreement will stand up in court if a dispute ever got that far. I say make it simple, easy, and to the point.

Y-ASK

 

[lovewdwdvc]

Please call/e-mail the person that you rented from. That person has risked a great deal but may be able to work with you. The sooner that she knows, the better for everyone concerned.

 

[crisi]

The deal for the owner is that if you cancel more than 30 days out - which you are doing, they get their points back....but all is NOT hunky dory.

Points have a limited life. We HAVE to use them in the use year in which they are assigned. You are going in September. If your owners use year is July, they have plenty of time to use those points or find another renter. If I were the DVC owner, I might let you back out of your reservation if this were the case, but I'd hold some fee for my time and bother ($100? $200?). If their use year is October, then they have to find someone to rent those points quickly or use them themselves by September 30th. These points are "distressed" and usually go for cheap on the rental market. I might let you out in this case this early, but I'm likely to hold back a significant amount of your deposit (probably at least "my cost" of $6 a point), in which case you wouldn't save a dime.

Borrowing/banking makes the situation more complicated. If their use year is October, they've missed the window to bank those points fully into next year. Which means they have less flexibility. If their use year is December, they can bank this years points into next year and have plenty of time. If they borrowed points to make your reservation, they can't return them to the original use year and it doesn't matter what their use year is.

 

[goldilocks_63]

How about posting your accomodations, and the dates you are going, and the price you paid per point on the rent trade board, to see if someone else would be interested in this reservation.

(I guess I'm suggesting that you do some of the legwork, since you want out.... )

Maybe someone else would want your accomodations, and if so, then it would be somewhat easier for the Member to change the name on the reservation (and may also want a new contract signed too....).

THink about this carefully, because OKW has huge rooms, and they are beautiful. I would much prefer OKW over a regular hotel room, food or not....

"Disney's Old Key West Resort
Escape to a delightful sun-soaked community that recalls the spirit of the Florida Keys. Surround yourself with soothing pastels and swaying palms throughout this Victorian-themed getaway with gingerbread accents and tropical ambiance. Retreat to a Vacation Home with all the amenities of home plus all the comfort and tranquility of turn-of-the-century Key West ― nestled among trees, winding waterways and lush golf fairways."


and, although I love to eat, it will be hot in September, so how much do you plan on chowing down.... (and gaining ).

You could keep cost down by a trip to the grocery store, and using the fridge and microwave. If a 1BR, will have oven and stove too, as well as washer and dryer, and jacuzzi tub.

Best of Luck, Goldi

 

[crisi]

I'd think a lot of people who might be interested are more tempted by the dining offer. That AND the dining offer has a limited number of rooms available tied to it. Its possible that she'll manage to sublet the points and there will be no room at the inn.

There are people over at the resort board already saying that the free dining program is sold out for the resort they want for the dates they want.

 

[Deb & Bill]

Another problem with the dining plan is getting your table service reservations ahead of time. If you don't have PS (or whatever they call them now), you might not get any table service dining at all. They were turning down walkups all over the place while we there there last week.