What stops someone from canceling my res?

[bellebride116]

I am thinking about renting points from someone... this would be my first time. Obviously paypal would be the secure way to buy... I know I will get a confirmation number that I can check but how do I know my reservation won't get canceled or something and someone will run with my money? Has anyone had a horrible experience like this?

 

[jlewisinsyr]

To be honest, nothing but someone's personal integrity. People have been "scammed" and have lost their money. Renting is about trust and if you're unable to trust the person you are renting from, renting is definately not a good option for you.

The best you can do is research the person offering the point rental and see if they have rented in the past, see if you can find posts confirming that others were satisified and ask questions (ie. Phone number, address, etc.). Also, avoid red flags (ie. Wire Transfers).

 

[Corwin]

I am thinking about renting points from someone... this would be my first time. Obviously paypal would be the secure way to buy... I know I will get a confirmation number that I can check but how do I know my reservation won't get canceled or something and someone will run with my money? Has anyone had a horrible experience like this?

Yes, this has happened, but it's very rare, especially on the DIS boards.

Read the FAQs about renting, do some due diligence, and you will likely be fine. Paying with a credit card is an excellent idea.

Realize that once you get within 30 days, the owner cannot cancel your reservation without severe penalties.

Some trust is required on both sides. The owner is counting on you to not contest your payment by falsely claiming to be defrauded, and the owner is trusting you not to damage the room, or to run up unpaid room charges.

 

[bellebride116]

Yes, this has happened, but it's very rare, especially on the DIS boards.

Read the FAQs about renting, do some due diligence, and you will likely be fine. Paying with a credit card is an excellent idea.

Realize that once you get within 30 days, the owner cannot cancel your reservation without severe penalties.

Some trust is required on both sides. The owner is counting on you to not contest your payment by falsely claiming to be defrauded, and the owner is trusting you not to damage the room, or to run up unpaid room charges.

I didn't realize this either... so I'm assuming it's safer to pay via credit card/paypal than check?

 

[DVC Dude]

I didn't realize this either... so I'm assuming it's safer to pay via credit card/paypal than check?

yes, it is easier to challenge a charge or payment via CC/paypal than it is via a bank check.

 

[Sammie]

Just so you know PayPal provides convenience but very little security.

 

[JimMIA]

Another option would be to rent through David's DVC Rentals (see ads on the DIS and a thread on this forum). You might pay a few dollars more, but my understanding is that David withholds 1/2 of the rental fee until the day you check into the resort. If there is a problem with a cancellation, the owner loses half their money.

Considering that the overwhelming majority of owners who rent are honest people anyway (most crooks don't own things like DVC!), that withholding should give you considerable comfort.

 

[scot@dvcstore]

I would suggest Davids DVC Rentals on the boards. David advertises on the boards and does a great job.

 

[crisi]

I didn't realize this either... so I'm assuming it's safer to pay via credit card/paypal than check?

It is, but a lot of owners won't accept paypal and most can't accept credit cards.

 

[Deb & Bill]

It is, but a lot of owners won't accept paypal and most can't accept credit cards.

Yep, the member sets the terms for payment. What form, how much and when.

Best thing is to find someone you feel very comfortable with and rent from them year after year if possible.

 

[lrichardson]

When I rent out points I prepare a contract for the benefit of the renter and myself detailing all of the specific information as well as my address and phone number. I also give the renter a copy of my deed. It is a shame if someone did scam the renter. If that is the case then the disboards may have to notified so they can keep an eye on the scammers. I have had great success with renting out points and never had a problem with the renters. In fact many send "Thank you" notes after the trip.

 

[Deb & Bill]

When I rent out points I prepare a contract for the benefit of the renter and myself detailing all of the specific information as well as my address and phone number. I also give the renter a copy of my deed. It is a shame if someone did scam the renter. If that is the case then the disboards may have to notified so they can keep an eye on the scammers. I have had great success with renting out points and never had a problem with the renters. In fact many send "Thank you" notes after the trip.

Actually, the DVC Public Offering Statement requires a member to provide a contract to the non-member and to notify MS that they are renting this reservation.

 

[Jason@dvcstore]

I am thinking about renting points from someone... this would be my first time. Obviously paypal would be the secure way to buy... I know I will get a confirmation number that I can check but how do I know my reservation won't get canceled or something and someone will run with my money? Has anyone had a horrible experience like this?

I have had nothing but positive experiences renting.

Jason

 

[kimberh]

Ask for their references. Check them out. This will help you decide. There are many honest DVC owners here that rent their points.

 

[Brian Noble]

how do I know my reservation won't get canceled or something

The fundamental decency of your fellow man.

More seriously, the vast (vast!) majority of these transactions go off without a hitch. Every once in a while, something does go wrong, but it is very rare. That's one of the reasons you're getting such a good deal.

 

[cds62]

As previously stated, there is nothing to prevent a person from cancelling a reservation. It all comes down to trust and your gut fealing when dealing with a individual. I have rented my points out many times and are continueing to do this. I understand when I speak with a potential renter that they have some concerns. I provide references and other means of confirming who I am and my trustworthiness. When you are dealing with large sums of money it does become difficult. Do your due diligence and it should all work out.