What if I rent points and then need to cancel?

[skiingwife]

I'm just curious what would happen if someone rents points from a DVC member, the member has made the reservation, and then something happens and then person renting the points needs to cancel? Will they be out the money? Can the DVC member cancel the reservation and return the money to the renter (but what if they've spent it?)? Just wondered if this situation has happened and how its been resolved.

 

[vicki_c]

It all depends what has been agreed on with the member renting the points. It's just a person to person transaction, so potentially every rental could be different.

I would think that most people renting points would not want to return your money if you had to cancel and I would definitely think that if it was into their own cancellation periods where the points would have to go into holding. That's how I would feel anyway.

If that's a real concern for you (as a renter), I would book directly with Disney where you know going in what the cancellation policies are - and for room only, it's only 5 days to get all your $$ back with them.

 

[Lynne M]

This is definitely something you'll need to get ironed out with the owner before committing to a rental.

DVC cancellation policies can be complicated, and if you cancel, depending on how close it is to your dates and the end of the owner's use year, the owner may well lose the points. Or, the points may go into a holding status, which restricts the use of the points in such a way that they may lose value.

Also, changes to reservations can be difficult. Like most timeshares, DVC villas get booked up far in advance. If you decide to change your dates, it's entirely possible that there'll be nothing else available for you to book.

This is why many owners have a 'no changes, no cancellations' policy. If you're unsure of your dates, or feel that you may need to cancel, then renting points may not be a good choice for you. You can certainly save money by renting points, but the tradeoff is that you lose some flexibility.

 

[CarolAnnC]

Renting points from a member is a private transaction that should be considered final. Not many will allow a cancellation, though you may find one on occasion.

 

[Anal Annie]

I'm just curious what would happen if someone rents points from a DVC member, the member has made the reservation, and then something happens and then person renting the points needs to cancel? Will they be out the money? Can the DVC member cancel the reservation and return the money to the renter (but what if they've spent it?)? Just wondered if this situation has happened and how its been resolved.

That is why I won't rent our points out to someone. I am afraid someone will squelch on us after we make the ressie and want their money back. That is a hassle I don't want to deal with.

 

[Starr W.]

That is why I won't rent our points out to someone. I am afraid someone will squelch on us after we make the ressie and want their money back. That is a hassle I don't want to deal with.

Me too, I won't even use them for trips involving my sister who likes to decide not to go at a late date.

 

[jodifla]

Exactly! And when people say, "Why do all you stupid people buy when you can rent points cheaper?"

This is one of the reasons.