VDH Opening

[gmi3804]

I'm curious - is there some sort of minimum amount you'd need to make with a rental in order to have to report it? Or even if it was as low as a couple hundred dollars for the whole year you need to report it?

Technically, if it's income you need to report it. Best to ask your accountant about reporting requirements.

 

[AstroBlasters]

I'm curious - is there some sort of minimum amount you'd need to make with a rental in order to have to report it? Or even if it was as low as a couple hundred dollars for the whole year you need to report it?

A moderator is going to get on here soon to steer this back to VDH opening, but I know that you are new to this so I would recommend doing some reading here and then speak to your personal CPA.

https://www.redweek.com/resources/articles/tax-aspects-renting-timeshare

“In almost every situation, you are required to report the income on your tax return. The salesperson was undoubtedly referring to the "vacation home" tax rules, which allow you to exclude the rental income if you rent the "home" out for less than 15 days in the year. However, that rule would treat your timeshare as a vacation home for the year only if you and friends and relatives personally use it for at least 15 days during the year in addition to the days it is rented.

If you don't meet both of the 15-day rules (and some other rules that are less likely to apply to timeshares), the income is taxable, just as other income you receive is. In order to have a chance at meeting the rules, an individual must own a minimum of three weeks at a single resort, with at least 15 days used for personal purposes.”

 

[edna mode]

following

 

[BWV Dreamin]

If you get a 1099-MISC, report it.

 

[BWV Dreamin]

Let’s drift back to the original thread……how many more days until we see the points chart?

 

[AstroBlasters]

Let’s drift back to the original thread……how many more days until we see the points chart?

I am going to go with the March 15th. That gives us one day to review the chart before sales open on the 16th and cash rooms on March 17th.

 

[CaliforniaGirl09]

A pretty good history of the hotel, as I remember it growing up in Anaheim and as a DL CM in the 80's and 90's. Some things I do miss, others are welcome replacements. At the end of the day. a ridiculously rich history. As I said previously, Grand Californian does an amazing job recreating history, The Disneyland Hotel IS history.

ETA: Full disclosure: our favorite WDW resort (and where we own the most points) is WL, for the very reason that it reminds us so much of the Grand Cal. But, DLH is perfect in its own, very unique and historic way.

Wow, thanks for the memories on that. I went in the early 70s and this triggered lots of memories of things I'd totally forgotten about. I love all these kind of videos but somehow had missed this one.

 

[Epcot Forever Forever]

Let’s drift back to the original thread……how many more days until we see the points chart?

Less than 4 I’d guess.

 

[Epcot Forever Forever]

They’re selling rooms they won’t be declaring into inventory immediately, which is going to be probably 75% of them. They literally can’t open them for points booking. What do you want them to do with them?

I found actual legal language on this yesterday while trying to find out more about California timeshare sales licensure rules (which I failed to do).

California is strict about breakage revenue. They don’t allow the developer to rent breakage if it’s in excess of the share of the points the developer owns. So if Disney owns 5% of the points for a VGC, they can never have a period where they rent out for cash more rooms than equates to 5% of the total points. That is definitively NOT how it works in Florida.

So once the tower opens, Disney can’t get ahead of point sales with room rentals, or they’d be in violation of state law.

 

[Sandisw]

I found actual legal language on this yesterday while trying to find out more about California timeshare sales licensure rules (which I failed to do).

California is strict about breakage revenue. They don’t allow the developer to rent breakage if it’s in excess of the share of the points the developer owns. So if Disney owns 5% of the points for a VGC, they can never have a period where they rent out for cash more rooms than equates to 5% of the total points. That is definitively NOT how it works in Florida.

So once the tower opens, Disney can’t get ahead of point sales with room rentals, or they’d be in violation of state law.

But, if the rooms have not yet been declared as part of the condo association, they are not breakage inventory…they don’t exist as part of DVC until that is done.

I would take this statue to mean that they the points from the declared units but not yet sold fall into this clause…but not the ones that have not.


For example, if they declare units worth 500 K points, then the most they can rent for cash of those points would be 25k, even if 300k points remain unsold.

 

[ark101]

My guess is someday this week too, keeping in mind March 15th is when cash bookings open for DVC members. I was actually hoping today but alas, didn't happen.

 

[Epcot Forever Forever]

But, if the rooms have not yet been declared as part of the condo association, they are not breakage inventory…they don’t exist as part of DVC until that is done.

I wouod take this statue to mean that they the points from the declared units but not yet sold fall into this clause…but not the ones that have not.

Whether they are declared or are not is kinda irrelevant, as either way, Disney owns them and, until they sell them, can do whatever they want with them. And they can’t sell points they haven’t declared anyway.

But like say in November they’ve sold 13% of the points, then in November they cant have rented out more than 87% of the rooms (regardless of declared status).

 

[HIRyeDVC]

Why are people thinking the points chart will be released coinciding with the first cash booking date of 3/15? One has nothing to do with the other no? I see no reasons to believe that Disney will release points chart info any sooner than a few days prior to commencing sales, which could still be awhile away IMO. But I'm hope I'm wrong!

 

[Sandisw]

Whether they are declared or are not is kinda irrelevant, as either way, Disney owns them and, until they sell them, can do whatever they want with them. And they can’t sell points they haven’t declared anyway.

But like say in November they’ve sold 13% of the points, then in November they cant have rented out more than 87% of the rooms (regardless of declared status).

That’s not how I read it because if they are not declared into DVC, they do not count as timeshare rooms yet and don’t fall under the rules.

That is why rooms not declared can’t be booked by owners on trades. They don’t exist yet as part of DVC.

DVD never has to declare all the rooms and can change their mind along the way. That’s whT happened with VB..they didn’t finish the project which is why there are subsidized dues.

Until rooms exist in the condo association, I do not see how they can consider them part of the timeshare.

If what you are saying is because of this they have to be careful how much they keep cash so that future declarations don’t put them over, then yes.

But I still think that they can sell rooms at VDH for cash that are not yet part of the timeshare without limits.

ETA. Or maybe I am not understanding!!

 

[ClaraOswald]

I hope they do it soon because I'm antsy to see. But I also worry they will wait until they are ready to make actual sales.

 

[UrsulaWantsYourSoul]

If I understood correctly from my guide, only California licensed guides can sell to Californians and they are short on those and training like 15 more.

 

[vacay77]

This is a random question but let’s say that this month, DVC members can start using points to book a stay at the new Disneyland Tower. It opens in September. VGC is my home resort. How do they give preference to those who have the new tower as their home resort if it opens in September (since it’s not 11 months out)?

 

[LilyJC]

https://disneyparks.disney.go.com/b...-of-the-villas-at-disneyland-hotel-announced/

 

[LilyJC]

Not really new info minus the actual opening date, 9/28…

 

[HIRyeDVC]

This is a random question but let’s say that this month, DVC members can start using points to book a stay at the new Disneyland Tower. It opens in September. VGC is my home resort. How do they give preference to those who have the new tower as their home resort if it opens in September (since it’s not 11 months out)?

I don't think anyone can say at this point. Disney would likely give new VDH owners some priority over other direct members like they did at VGF2. But at VGF2, they declared ALL 200 units pretty immediately for all members to be able to book and availability was no issue. But in the case for VDH, I think they might really be stingy declaring inventory. I think they want to tightly control 7 month availability to make people want to buy there. I mean, why else would they only open up initial booking to cash only?