What would you do? Wait for Davids or re-rent points now?

[KingRichard]

Ok so it has been around 2 weeks from the date that DVC credited my points back. They will expire Dec. 1. Davids knows this and was told I would re-rent those points(200).

Have not heard from Davids other then a thank you email.

Would you wait with the clock ticking till points are no good and we lose our 30% owed?

Would you re-rent those points NOW and yes get paid again, but let David's use other points that have a year left? That assumes Davids is still around?

I want to make David's and the renter whole and also our 30%!

Davids did not ask for any money back from US!

 

[davper]

The day DVC extended my points, I contacted David's to reschedule the renter. They said they issued the family a voucher for future travel and that I should return the money or allow them to rent the points again. I said rerent but don't exect they will be able to. I will let the 2019 points expire and use the 2020 for an April 2021 trip.

 

[Marionnette]

Ok so it has been around 2 weeks from the date that DVC credited my points back. They will expire Dec. 1. Davids knows this and was told I would re-rent those points(200).

Have not heard from Davids other then a thank you email.

Would you wait with the clock ticking till points are no good and we lose our 30% owed?

Would you re-rent those points NOW and yes get paid again, but let David's use other points that have a year left? That assumes Davids is still around?

I want to make David's and the renter whole and also our 30%!

Davids did not ask for any money back from US!

Well, I would have insisted that David’s pay me the 30% that was owed to me on the original check in date - now - and then permit them to re-rent my points. The last thing that I would desire is to wait and wait for David’s to get their sorry butt together to rent my points out before they expired.

Personally, I don’t care for the new language in David’s rental agreements. I would insist that the terms under the original rental agreement be honored should a suitable rental be found. That includes the amount that I was promised to be paid and not some reduced, fire sale rate.

In the mean time, I would be proactive about my points and take measures to protect myself. David’s is not going to be looking out for your best interests. Book something that you can, now. Hopefully as far in the future between now and Nov. 30th as you possibly can. You can always cancel that reservation if good ol’ Davey Boy finds you a rental. Otherwise, you can try to rent it out as a confirmed reservation and refund him the money he sent you once you have been paid in full.

 

[Sandisw]

I certainly would not offer any other points for rental. If it were me, I would email him again, let him know that you are willing to re rent the points soon and be expecting to be paid the 30%, or that you will walk away and accept the 70% you paid as final,

Id give him a few weeks and if nothing is secured, ask him to release you or send you the 30% and then you will keep the points available until they expire.

 

[Disneypapa]

Tough times in deed I would advise David's to try and re-rent points before they expire. I would also actively attempt to rent the points myself as a backup plan.

 

[CarolMN]

I'd attempt to rent the points myself and if successful, return the 70% to David. Obviously, the longer it takes for him to get around to renting them, the less likely there will be availability. (That said, I am personally expecting there to be continual churn this fall as people decide to cancel their trips. Availability for late summer and this fall may not turn out to be as limited as we currently believe it will be). Good luck!

 

[starry_solo]

I'd attempt to rent the points myself and if successful, return the 70% to David. Obviously, the longer it takes for him to get around to renting them, the less likely there will be availability. (That said, I am personally expecting there to be continual churn this fall as people decide to cancel their trips. Availability for late summer and this fall may not turn out to be as limited as we currently believe it will be). Good luck!

+1

 

[Eric Smith]

I'd attempt to rent the points myself and if successful, return the 70% to David. Obviously, the longer it takes for him to get around to renting them, the less likely there will be availability. (That said, I am personally expecting there to be continual churn this fall as people decide to cancel their trips. Availability for late summer and this fall may not turn out to be as limited as we currently believe it will be). Good luck!

I think you're right about that second part. We have a reservation starting on Sept 25 and we're waiting until 31 days out to decide whether we go or not. If we cancel, we can still bank the points so we won't lose them. I think due to the nature of DVC, a lot of people booked trips in the fall just so that they'll have something in case they want to go. We're going to make our decision based on the situation with the virus at that point and how limited the Disney experience is.

 

[CarolMN]

I think you're right about that second part. We have a reservation starting on Sept 25 and we're waiting until 31 days out to decide whether we go or not. If we cancel, we can still bank the points so we won't lose them. I think due to the nature of DVC, a lot of people booked trips in the fall just so that they'll have something in case they want to go. We're going to make our decision based on the situation with the virus at that point and how limited the Disney experience is.

Same for us with our October reservation. We'll decide around the 60 day mark, though, because if we do, we'll be able to get a credit for our airfare. I'm sure there are quite a few of us with similar plans.

 

[KingRichard]

So I think we have only seen one person post that they were paid the 30% and that was because person didn't check in? So demanding he pay 30% now isn't going to happen?

Surprised on how many are just saying screw Davids? I don't want to see him fail and would love to use his company for the next 20-30 years if possible!

Can't pay the 70% back. Would not make sense! What if somehow I wasn't paid on those points in the next 6 months? That is why I would give him more points down the road to help him and renter!


Keep them coming!

With all the thread post It would seem we have thousands of owners that have been caught in this mess, but maybe it is really only 20-30 of us?

 

[Dracula]

So I think we have only seen one person post that they were paid the 30% and that was because person didn't check in? So demanding he pay 30% now isn't going to happen?

Surprised on how many are just saying screw Davids? I don't want to see him fail and would love to use his company for the next 20-30 years if possible!

Can't pay the 70% back. Would not make sense! What if somehow I wasn't paid on those points in the next 6 months? That is why I would give him more points down the road to help him and renter!


Keep them coming!

With all the thread post It would seem we have thousands of owners that have been caught in this mess, but maybe it is really only 20-30 of us?

It has been estimated David arranges 2500-3000 rental reservations per month. Therefore, having only 30 owners affected is not plausible. There are at least 1,000 owners affected.

Nobody really is rooting to see David go out of business.... at least, not openly. With renters pursuing credit card chargebacks and David not doing any new reservations at this time, however, it is difficult to imagine how he may continue to be a going concern.

Your decision to re-rent the points with David is commendable. I chose the same option. But, I am not sure I am ready to keep the points available to David until they expire - there should be a deadline by which David gets a chance to re-rent the points since, after all, he has not paid for them in full. This was not clearly spelled out in communication with David, and perhaps not worth worrying too much since the odds are not in David's favour, and he would likely need to wind down the business soon. I also don't think his contract is transferable - that is, upon bankruptcy he would not be able to sell the existing contract as an asset to another company.

I am somewhat surprised that you plan on using David for the next 20-30 years. Have you considered that there is a market for owners to deal directly with renters, and split the $4.50 per point charged by David to merely process a credit card and, well, act as an intermediary between newbies? It has become painfully obvious that the implied lack of risk for the rental transaction, for both owners and renters, was just an illusion. I liked David's role in matching a large pool of owners with a large pool of renters, and he was useful in setting a price floor and ceiling for the DVC points - but in his wake there would surely be other brokers stepping in to fulfil that role.

 

[KingRichard]

It has been estimated David arranges 2500-3000 rental reservations per month. Therefore, having only 30 owners affected is not plausible. There are at least 1,000 owners affected.

Nobody really is rooting to see David go out of business.... at least, not openly. With renters pursuing credit card chargebacks and David not doing any new reservations at this time, however, it is difficult to imagine how he may continue to be a going concern.

Your decision to re-rent the points with David is commendable. I chose the same option. But, I am not sure I am ready to keep the points available to David until they expire - there should be a deadline by which David gets a chance to re-rent the points since, after all, he has not paid for them in full. This was not clearly spelled out in communication with David, and perhaps not worth worrying too much since the odds are not in David's favour, and he would likely need to wind down the business soon. I also don't think his contract is transferable - that is, upon bankruptcy he would not be able to sell the existing contract as an asset to another company.

I am somewhat surprised that you plan on using David for the next 20-30 years. Have you considered that there is a market for owners to deal directly with renters, and split the $4.50 per point charged by David to merely process a credit card and, well, act as an intermediary between newbies? It has become painfully obvious that the implied lack of risk for the rental transaction, for both owners and renters, was just an illusion. I liked David's role in matching a large pool of owners with a large pool of renters, and he was useful in setting a price floor and ceiling for the DVC points - but in his wake there would surely be other brokers stepping in to fulfil that role.

So my point about 20-30 people is from those that have been posting here.

I also don't see David's doing 30,000 rentals a year? Do you? 30,000x200x$4.5=27 Million? Why is everyone worried?

I could see him doing 2,500 for December, Easter/spring break?

Sure maybe I could get $2 more per point, maybe? Lots of risk right? Still in the same spot? Refund all the money? Tell renter so sorry? Get scammed?

 

[suemom2kay]

I'm one of the few nurses not currently working. I have an nontraditional nursing job. So summer is out. Once I'm steadily working FT again not the best time to take vacation. Plans are for January trip with just my DH and I. My points expire in February, so fingers crossed, nothing goes wrong.