Suggestions for terms to rent points ??

[1princessesmom]

I have never rented points before and was wondering if anyone had any suggestions about what type of deposit to require and cancellation rules for the renter. Also if anyone had some sort of written agreement they used, it would be helpful if you could email it to me ( thetebbutts@classicnet.net ). Thanks in advance for the help.

 

[Laurajean1014]

Keep it simple and honest. Somehow it works well.

 

[Cruelladeville]

I require $100 deposit within 48 hours, otherwise I cancel the points. I don't require that if I have rented to them before, however. The $100 is not refundable, and the rest of the money comes in 3 equal payments. If they cancel, I will hold onto their points, but there are no refunds. People are less likely to cancel if they know that there are no cash refunds.

 

[No1HawkFan]

I agree with Laurajean to keep it simple and honest. However, make sure that you do things that protect should the renter not come through. For example, never borrow points to make a reservation. I would also try and rent the points soon after your use year rather than late in your use year. That way if the renter does cancel it would give you plenty of time to bank your points. Another suggestion is to be sure that you require the final payment 45 days before they are checking in so that if they don't come through you can cancel the reservation without the points going into "hold status".

I never use a contract and would suggest not using a contract. We have rented before to stay at the Manhattan Club from an owner at that resort and also have rented our points and never used a contract and didn't have any problems.

I would also suggest not accepting less than $10 per point. I would post how many points you have to rent on the Rent/Trade board and have people e-mail you that are interested. You will find that you get many requests for your points.

Good Luck!!!