Transfer Or Rent Points ?

[spinaltap]

my dw just threw me a curve and would like to do the cruise instead of heading down to the world next summer. i know it is financially sound to either rent or transfer the points and use that money for the cruise than it is to use our points for the cruise. We always use are points so we have not yet had to rent them. my question is what is better? renting or transferring and why. Any input would be greatly appreciated.

 

[JimMIA]

Transferring is better.

When you say renting, what you are really talking about is renting a reservation for a non-DVC owner. There's some work and some risk in that.

Transferring is much easier, neater, and cleaner for everybody concerned. You simply make a deal with another DVC owner, get paid, call MS and transfer the points. Some people do that via a three-way call.

Once the points are transferred, the other owner has total control of them, which removes their risk, and you are completely finished, which eliminates your risk. Plus it's a lot less work.

 

[RobDoc]

Based on how you structure the rental, you may be even better off by renting a reservation since you may be able to command a higher price for your rental.

True, once transferred, the points belong to the other member and are no longer under your control, but the same level of safety may be found in a reservation with a strict refund policy. If you structure the rental properly, there should be minimal risk for the member and minimal risk for the renter.

 

[spinaltap]

thanks for your input........i was thinking that transferring was the way to go but needed advice from people with experience

 

[bunny]

How does the payment part in the transfer work? Do you get paid first and then transfer or the other way around? In either case, there is a risk involved. As much or more than renting it would seem. Please tell me if I am wrong, because I am also thinking of renting or transferring.

 

[snowbunny]

How does the payment part in the transfer work? Do you get paid first and then transfer or the other way around? In either case, there is a risk involved. As much or more than renting it would seem. Please tell me if I am wrong, because I am also thinking of renting or transferring.

I just completed a point transfer from an owner who required 50% up front, then transferred the points, then I paid the remaining 50% the same day.

 

[udflyer00]

I love it... I can share my opinion and insight into these topics now!! My family and I are also going to cruise next year and I had also done my research and knew that renting/transferring our points was the best option... So I started my quest and if any of you read the rent trade board you may have seen my post(s)...

My one thought on transferring, and someone correct me if I'm wrong, but you can only transfer one way once (in or out of your account). I think this is the way it works, still a newb to this kind of stuff, but I think that is correct, so if you are going to transfer your points you may want to make sure it is a large request... Otherwise you will have to rent those remaining points. I did make 1 transfer out of my points for 30 points, which was half of what I had left to rent at the time so I figured it was a good deal, but since it was a small request I asked for 100% up front because remember once this is done you don't control any of the points... I gave the transferee all of my contact info and we worked out all the details ahead of time. They made the transfer with an echeck and were willing to wait for it to clear and then I made a 3-way call with MS and we all completed the transfer.

As for renting, right now is a really hard time to rent. All the non-DVC'ers want rentals in October-December and most are already all sold out due to F&W and Christmas. I made 3 reservations for next Jan-Feb. I made the reservations and asked for 50% of the rental at least 14 days after confirming the reservation and the other 50% 30 days later. All of my renters felt this was all very reasonable. I made each reservation in the renters name. I have to agree though about the strict cancellation policy because if they cancel inside that 31 day window your points can't be "returned", but as long as you make the details clear up front and you get someone who is excited about their trip you shouldn't have any problems.

Some people will try and low ball you for a dollar or 2 under 10, but I really think $10 should be the bear minimum that we should all try to stick to... I know desperate times call for desperate measures but you don't want to negate the value of your resort... I am on the side of most that feel we should be asking at least a bit more than $10 for our points since the rack rate for most of our DVC homes is well above $100 a night so either way the renter is getting a good deal in the rental... Anyway, sorry to go off on a tangent, but if you want to rent there is some legwork involved watching the Rent/Trade board, calls to MS to check availability, and then more thread watching and more calls... Remember the early bird gets the worm, and most renters are normally prettly loyal to go with the first person to reply as long as they are in the same ballpark of offers. Stick to at least $10 per point (if that's what you end up asking) you should be able to rent out as many points as you need... I had an offer to tranfer a huge lot of my 200 points but at $9. My wife told me to hold out because we need the money for our cruise and after about 3 weeks of leg work I did get $10 for all of my points....

Sorry to ramble on, but I am just excited that the process was pretty smooth and it made me happy to be able to help others Disney vacation dreams come true... PM if you have any other questions I could go on and on...

Mark

 

[JimMIA]

My one thought on transferring, and someone correct me if I'm wrong, but you can only transfer one way once (in or out of your account). I think this is the way it works, still a newb to this kind of stuff, but I think that is correct, so if you are going to transfer your points you may want to make sure it is a large request...

I believe you can transfer as many times as you want, but only in one direction (in or out, but not both) during a particular use year. If you have multiple accounts, I think you can transfer into one and out of the other.

Some people will try and low ball you for a dollar or 2 under 10, but I really think $10 should be the bear minimum that we should all try to stick to... I know desperate times call for desperate measures but you don't want to negate the value of your resort... I am on the side of most that feel we should be asking at least a bit more than $10 for our points since the rack rate for most of our DVC homes is well above $100 a night so either way the renter is getting a good deal in the rental...

I agree. I wouldn't even answer a lowball inquiry. I have no desire to deal with low rent people.

There are some who would counsel you to rent for below $10 if your points are distressed, but I sure would not do that without first trying $10. $10 a point is a huge bargain, unless someone is only trying to do a long weekend, in which case they may be better off paying cash.

 

[spiceycat]

done both.

however when you transfer points you need the member name, and member's number. I can definitely understand being hestitate to give out the member number.

if you go this route be sure they also change the year. they didn't on one I tried and it took several MS to finally get it right.

I rent. Not to long ago Doc got people to send it their contracts (okay might not have been Doc) - it was a couple of weeks ago. find that post and print it out. then pick the one that best fits your needs.