the best way to rent

[sknnix]

Do you make the reservation 1st, and then get the $ through pay pal? What if you make the res. 1st and the people were to back out before you were paid. Just need a little help on the best way to do this. Thanks

 

[CarolMN]

Do you make the reservation 1st, and then get the $ through pay pal? What if you make the res. 1st and the people were to back out before you were paid. Just need a little help on the best way to do this. Thanks

Totally up to you and the other party. I'm sure it is done both ways.

As the owner you retain control of the reservation and can easily cancel it if you do not receive payment. That assumes you are renting early in your use year and are not up against a banking deadline or the 31 day mark.

If I were renting, I would want a confirmation number before sending money unless I knew the owner or had rented from him/her before.

Renting requires some level of trust on both sides of the transaction.

 

[Deb & Bill]

Don't borrow points to make a reservation unless you have already been paid for those points. Don't make a reservation without payment if you are already within the 30 day timeframe. If they back out, you have points in holding. Make sure you receive full payment with enough time to bank or cancel and not have holding points.

 

[BUDDYBEAR]

It can work either way good luck

 

[MrShiny]

What I usually do is check availability. If there is availabilyt for what the renter wants, I get full payment through Paypal. Once that is received, I book the reservation. This is important to me because I'm usually booking with points I know I can't use.

In my experience, I haven't had any trouble with this.

The oddest thing I've had happen is a renter have a really bad time during their stay - so bad that they actually credited points back to me! I was able to book them another stay later, so it all worked out.

 

[DVCGeek]

The oddest thing I've had happen is a renter have a really bad time during their stay - so bad that they actually credited points back to me! I was able to book them another stay later, so it all worked out.

WOW, that would certainly be terrible. Hope they didn't try to blame you at all... Glad it worked out in the end at least!

 

[Ed T]

When you rent/sell points do you have a no refund policy after you receive the full payment? Has anyone done 50% down on the confirmation of the reservation and the other 50% 60 days out so that if you have to cancel the points will go back into your account and not a holding account?

Thanks

 

[CarolMN]

When you rent/sell points do you have a no refund policy after you receive the full payment? Has anyone done 50% down on the confirmation of the reservation and the other 50% 60 days out so that if you have to cancel the points will go back into your account and not a holding account?

Thanks

I don't rent myself, but according to the reports here on the DIS, many owners (if not most) have a no refund policy. Some allow changes/reschedules, some do not.

Most reports say they ask for a deposit, some before the reservation and some after the renter gets the confirmation number showing the reservation in their name.

The experienced owners say they get all of the money well before the 31 day mark. It seems they usually have it in their hands at least 60 days prior to arrival. Several of them say they get full payment right after the reservation is made. Some vary the payment requirements and change policy depending on the points used for the reservation.

Experienced owners rarely, if ever, borrow to make a rental reservation. They rent early in their use year so that if a problems comes up,they have time to recover.

And finally, those owners who value the ability to post on the DIS, do not attempt to circumvent the DIS Rent/Trade rules. DIS policy does not allow an existing/confirmed reservation to be offered for rental until 30 days prior to arrival. (There are no restriction on offering to check availability and then using your points to make a reservation based on the requested dates & resort). It is frustrating and makes me sad to see how many people attempt to break that rule, even after being specifically warned. I would never rent from such a person. If they are willing to take advantage of the DIS for their own benefit, they'd be willing to do it to me, too. Integrity is what you do when no one is looking. End of speech.

There really doesn't seem to be a consistent way of renting between owners. It varies. People on both sides learn as they go.

 

[spiceycat]

When you rent/sell points do you have a no refund policy after you receive the full payment? Has anyone done 50% down on the confirmation of the reservation and the other 50% 60 days out so that if you have to cancel the points will go back into your account and not a holding account?

Thanks

generally do 90 days - so have time if something goes wrong.

have 50% back if cancelled before 90 days - nothing if after. 100% if I can rerent the points.

just depends upon the way you word your contract.

 

[jcodespoti]

When you rent/sell points do you have a no refund policy after you receive the full payment? Has anyone done 50% down on the confirmation of the reservation and the other 50% 60 days out so that if you have to cancel the points will go back into your account and not a holding account?

Thanks

Ed,

When I rent out points to people that's what I do. Over the last 10 years I've probably rented out points 10 times, and its worked out fine each time.


Joe in CT

 

[Coach81]

Renting is risky business, period. Try to get as much info as you can.. and good luck!