Update with regard to policy changes

[ascardino]

Please accept my apology if this is redundant or sounds ignorant. I have been searching and reading through posts, but it is easy to lose track of what is the most current information.

First, let me say that I have rented from other DVC'rs before with great success. I never thought that I would put myself in the position of renting but am now thinking about it and trying to get as much information as possible to see if that is the way I should go.

I have 253 2008 points that I have to bank by Oct 31st (March UY). I was thinking that I would just bank them and take a cruise next year. It looks like the only time I would be able to take a vacation in 2009 with my family would be during high season. That said, it also is high season for cruises and from the research I have done, it seems the way to go would be to just rent or transfer my points and try to book the cruise by paying with cash rather than points.

So, my questions are:

1. Is there an updated rental agreement to reflect recent policy changes made by Disney's DVC operations?
2. How difficult do you think it would be for me to find someone who I could transfer the points to rather than rent (this seems to be the most simplified)?
3. Does my inexperience make this too difficult given the timeframe of my 2008 points?

I can use all of the help I can get and really appreciate your comments

Thank you,
Gina

 

[RobDoc]

...
1. Is there an updated rental agreement to reflect recent policy changes made by Disney's DVC operations?
2. How difficult do you think it would be for me to find someone who I could transfer the points to rather than rent (this seems to be the most simplified)?
3. Does my inexperience make this too difficult given the timeframe of my 2008 points?

I can use all of the help I can get and really appreciate your comments

Thank you,
Gina

1. - The recent policy changes regarding making reservations should have no effect on a rental agreement. The change does affect when a reservation may be made, but not the reservation itself so a contract should still be used to cover the details of the agreement.

2. - Transfers are a popular way to use unneeded points and are tracked by many on the Rent/Trade Board.

3. - If you can find someone wanting a transfer, it should enhance your ability to use the points. If you are unable to find a transferree or otherwise rent the points you still have some time to bank them to either be used or rented next year. I would certainly consider banking them by the end of October to extand the useful life of the points - even though you would not be able to transfer them once they have been banked.

Good luck with your decision.

 

[ascardino]

Thanks for the reply, Doc.

Is there info on how a transfer of points works? I think I understand where you make the reservation for someone, take a deposit, then transfer the reservation upon full payment. But how does a transfer work in terms of payment? If I take a deposit, do I transfer a certain amount of points trusting I will be able to collect the remainder upon transferring additional points?

Sorry, just really not sure how this works.

Maybe, I should start a new post?

 

[RobDoc]

Keep in mind that you can only make one transfer per Use Year - so you'd need to perform the transfer in one operation. Many members insist on full payment in advance of the transfer - once it's done it cannot be reversed.

Some have agreed to 1/2 prior to the transfer and the balance immediately after. Many have used a 3-way call with MS so both parties know when the transfer has been completed.

In any event, should full payment not be made, MS will not assist in any way, since the "official" policy is that no money is to change hands for a transfer. They will remind you that a transfer is irreversible and you will acknowledge before agreeing.

Just be sure to use due diligence regarding whomever you work with.

Good luck!

 

[jekjones1558]

I don't think that you can transfer banked points. You can transfer points and then the person who receives them can bank them but you would need to get on the stick to get this done before the banking window.

 

[dianeschlicht]

Keep in mind that banked points can NOT be transfered. If you want to transfer oints to someone else, THEY can bank them, but you can't bank them first. The scenario you described above is more for renting a reservation than transfering points. When you transfer points, you don't make any reservations for the person. They make the reservations themselves with the transfered in points. As Doc said, there is only one transfer allowed a year, so unless you find someone who wants ALL your points, you will need to also rent some as well.

 

[jekjones1558]

I believe that the one transfer per year rule is per USE year, so you could transfer your 2008 points in one transaction and then transfer your 2009 points in another transaction. But you would want to do the 2008 ones soon so that the person getting them would have time to bank them or use them before they expire.

 

[ascardino]

Thanks for the help and information. I have posted on the rent/trade board, so I'll see how that goes.

Gina