Tell me about renting points

[MickeyMickey]

I am seriously considering renting points for our September stay. Can anyone share their experience. Exactly how does the process work? How comfortable did you feel.

Was it a positive experience?

Thanks

 

[mousefansmom]

We had a great rental experience in Jan. 04. So great that we came home and bought 320 points. Now we have been on both sides of renting!! We have rented this years points, because we won't be going back until Nov. (next years points).
I think you need to be careful who you rent from. Make sure they are established DIS members, and ask for references. Insist on a contract (we do) for the protection of both parties. Although there haven't been too many problems reported here, there is always a slight risk with any transaction done over the internet. We called the person we rented from, and that helped us to feel better. We had a renter call us, because it made him feel better to actually speak to us, too.
The process varies slightly, depending on the people involved, but usually requires a down payment when the reservation is made or the confirmation received, and the balance due approx. 60 days prior to the check-in date. The DVC member has to make the reservation, but the confirmation is in the renter's name.
Good Luck!
Mousefansmom

 

[CRSNDSNY]

Our first DVC trip prior to purchasing was through a rental at BWV. Be sure you have a contract.
Overall, it was a positive experience and I have no regrets.

 

[schatterjee]

this year we had to rent our points. I was a little worried about how it would work especially as I didn't have any references to back me up. I did find a contract on-line that I used but it was a great experience for us and really helped us out this year.

I did mess up and forget to look at my PM's (never had any before!) but other than that it went pretty smoothly.

Best of luck finding your points!

 

[Deb & Bill]

If you are looking for this Sept, you need to get your plans finalized very soon.

 

[JimMIA]

One of the things you have to understand about these boards is that they operate under what another poster cleverly named "The Lumpy Pillow Rule," meaning ANYthing which is the slightest bit sub-par is going to be cussed and discussed ad nauseum here.

In all of the thousands of posts I have read, I have never read a single post from someone who rented points and had problems. I have read a few from owners who had problematic renters (people who don't know what they want, cancellations, bounced checks, etc.), but zero from those who have rented points. I personally consider renting points one of the GREAT bargains in the vacation world.

 

[aubriee]

I just rented points at BWV (May 15th-May 20th) for a studio and it was a very positive experience. The owner made the ressie and sent me the confirmation, then I mailed her a certified check. Was I a little nervous? YES!, but would I do it again? YES! (The owner controls the ressie and can cancel it anytime up until the renter checks in, but I feel most people are basically honest and most Disers love Disney. Also they would not want to get blackballed from the Dis for screwing around with someone's ressie.) We did not have a contract and anyway I feel they are basically useless anyway. Are you going to that person's state to file a lawsuit if they reneg on the contract? Contracts may be a feel good gesture, but that's about it.

I am going back in late Sept and again in early mid Dec and would like to rent points again for a studio. I would make sure the owner was an established veteran here on the Dis (more than 100 posts) and then go read some of those posts to get a feel for the person. If they have only a few posts and they're all on the rent/trade board, I probably wouldn't deal with them. But, of course, that's only my .02

By the way, anyone long time Diser have any extra points to rent Sept 18-23rd at OKW and at BWV or BC Dec 11th-Dec 16th . Just kidding! I'll post and hopefully find what I need soon.

 

[JimMIA]

Also they would not want to get blackballed from the Dis for screwing around with someone's ressie.)

I think Doc or someone else can verify this for sure, but I believe the DISboards position is that rentals are between the renter and the tenant, and they don't get involved. DIS does us all a service by making the Rent/Trade board available, but they can't be the "Rental Cops."

Having said that, if you had a bad experience and reported it here, it would certainly be a big negative for the person you reported. It's often said that one of the best protections you can have in a rental is to rent from someone who has hundreds or thousands of posts here, because you know they are regulars.

We did not have a contract and anyway I feel they are basically useless anyway. Are you going to that person's state to file a lawsuit if they reneg on the contract? Contracts may be a feel good gesture, but that's about it.

I agree that contracts for hundreds of dollars are effectively unenforceable. If it makes you feel better, fine, but don't look at a contract as an ironclad protection.

However, it is very important that both the owner renting the points and the vacationer renting points fully understand their obligations to each other, and that they know what each party will and will not do. People who rent points are very ethical, but they also have significant restrictions on what they can do in some circumstances.

There are rules governing the use of points which limit their ability to change or cancel reservations, for example. Also, they face availability constraints. People renting points only see the risk on their side, but there is considerable risk for the owner too, so it's important for both parties to fully understand the ground rules. If that means a contract, or some written "policies," or a candid telephone conversation -- whatever works for both parties is fine. The form doesn't matter -- what matters is the understanding of the transaction.

 

[crisi]

However, it is very important that both the owner renting the points and the vacationer renting points fully understand their obligations to each other, and that they know what each party will and will not do. People who rent points are very ethical, but they also have significant restrictions on what they can do in some circumstances.

There are rules governing the use of points which limit their ability to change or cancel reservations, for example. Also, they face availability constraints. People renting points only see the risk on their side, but there is considerable risk for the owner too, so it's important for both parties to fully understand the ground rules. If that means a contract, or some written "policies," or a candid telephone conversation -- whatever works for both parties is fine. The form doesn't matter -- what matters is the understanding of the transaction.

And that is probably the biggest risk. If you cancel your CRO reservation a week out Disney will refund all (or most) of your money. A DVC owner doesn't have the same luxury, 30 days from your reservation date, his points have significantly less value. And the closer to the end of his use year you rent the points for, the less value those points have, as well.

The other thing to recognize is that DVC has our money (and by extention yours). You can't walk away from the room simply because all they have remaining is a smoking room (or the view doesn't suit your tastes), nor is DVC as likely to go out of their way to make amends for the situation as the regular resorts more likely would. It isn't as common a problem as the number of posts here indicate (i.e. people often report when its wrong and it always causes a lot of notice), but it is something to know about the system.

In the years I've been on this board, I think there have been two dissatisfied renters (and one of those didn't rent from here but from eBay).

 

[JimMIA]

MickeyMickey:

You may also want to take a look at this thread, talking about renting vs. buying from the viewpoint of a happy renter -
http://www.disboards.com/showthread.php?t=825750