To use a contract or not?

[3happydancers]

Those of you who have rented points, do you use a contract to help protect both parties? And, how do you work the payment?

 

[Dean]

Those of you who have rented points, do you use a contract to help protect both parties? And, how do you work the payment?

I don't normally use a contract but many do. There is a full thread related to contracts information. Personally I don't feel a contract offers much if any protection and has the possibility of creating issues, basically the law of unintended consequences. What a contract can and should do is give clarity to both sides, personally I keep it simple and use email so I have documentation which one could call a contract if they wanted. My terms are 25% up front and the remainder at 120 days out all non refundable.

 

[mommacat56]

I don't use a contract, but I make sure my terms are spelled out in my emails. This puts everything in writing. I ask for half within 2 weeks of booking and the balance at or before 60 days from arrival. I do offer refunds depending on each situation.

 

[3happydancers]

Thanks for your input! I presently have some points listed with David's but had thought of renting on my own.

I've seen where members accept payment through pay pal. I do have a pay pal account through Ebay. Is this the same thing and how does this actually work with receiving money? I'm always on the paying end.

 

[Luvchefmic]

Thanks for your input! I presently have some points listed with David's but had thought of renting on my own.

I've seen where members accept payment through pay pal. I do have a pay pal account through Ebay. Is this the same thing and how does this actually work with receiving money? I'm always on the paying end.

Hey there ! FYI_You have a PayPal account you can use it for really any transfer of money not just eBay. You can send and receive to/from people or companies. Looks like there are no fees involved person-to-person ( except if there is a money conversion ) ...that's listed in the FAQ area of the site.

All they will need is your email address, no other info. https://www.paypal.com/webapps/mpp/send-money-online

 

[KAT4DISNEY]

I agree that a contract really doesn't provide any protection but it would spell out the terms so there isn't any confusion. I haven't used any more than email though personally.

Technically DVC does state that a contract be used.

 

[3happydancers]

Hey there ! FYI_You have a PayPal account you can use it for really any transfer of money not just eBay. You can send and receive to/from people or companies. Looks like there are no fees involved person-to-person ( except if there is a money conversion ) ...that's listed in the FAQ area of the site.

All they will need is your email address, no other info. https://www.paypal.com/webapps/mpp/send-money-online

Learn something new every day! I never used paypal for anything except Ebay purchases. So I'm guessing that a check would be sent to me once payment was deposited into my paypal account?

I agree that a contract really doesn't provide any protection but it would spell out the terms so there isn't any confusion. I haven't used any more than email though personally.

Technically DVC does state that a contract be used.

Seems many owners use email which does make sense since the terms are written out and can be agreed upon. Overall, the process does not seem too complicated.

 

[Luvchefmic]

Learn something new every day! I never used paypal for anything except Ebay purchases. So I'm guessing that a check would be sent to me once payment was deposited into my paypal account?


Good Morning, This I don't know, no one ever sent me money...want to be the first ? Seriously there must be info or a phone number on the site


Seems many owners use email which does make sense since the terms are written out and can be agreed upon. Overall, the process does not seem too complicated.

Email contract/communication is valid in a legal sense it is a " paper trail " if there was ever a problem. Good luck

If anyone has other info perhaps they will join in here.

 

[Dean]

Hey there ! FYI_You have a PayPal account you can use it for really any transfer of money not just eBay. You can send and receive to/from people or companies. Looks like there are no fees involved person-to-person ( except if there is a money conversion ) ...that's listed in the FAQ area of the site.

All they will need is your email address, no other info. https://www.paypal.com/webapps/mpp/send-money-online

Whether there's a fee involved depends on the type of account involved. For those with a business account which is essentially always needed for this type of transaction, there would be a fee usually around 3% assuming those involved were honest and sent the money as for services rather than cash to a friend/family member. Overall paypal is a very good option but it isn't perfect. They tend to side with the person paying if they complain, sometimes inappropriately so. It's also possible to have a scammer close a a checking or CC account in between leaving you stuck.

 

[Luvchefmic]

Thanks Dean I knew someone with more knowledge would come along

Ruthie

 

[3happydancers]

All in all, it sounds simple but for now I think I'll stick with David's. A little less money but less stressful for me.

Thanks for sharing your knowledge!

 

[SWofDisorder]

At times, I just don't feel like hand holding, answering questions, checking, etc so I go with DVC rental or something like that.

Yet, I also rent to close friends who just pay it all up front. Do what is best for you and good luck.

 

[heynowirv]

Never have written out a contract.Generally 50% upon booking,and balance due within 60days. I have always asked for checks as that too will leave a paper trail for all involved. Emails and sometimes phone conversations have always worked for me.

 

[3happydancers]

At times, I just don't feel like hand holding, answering questions, checking, etc so I go with DVC rental or something like that.

Yet, I also rent to close friends who just pay it all up front. Do what is best for you and good luck.


I did decide to go with David's Rental this time around. Couldn't be more pleased. The whole process took about 10 days from beginning to end. The renter did need 5 additional points (which was not a big deal for me) in order to make the rental work for this particular transaction. Payment was deposited into my account within 24 hours. Maybe next time I will offer points for rent to friends and/or family.

Thanks David!!!!

And thanks to all here on the boards for their great input and advise!!!