When renting DVC points when do you ask for payment?

[Mini Sorcerer's Mom]

When renting out DVC points when do you ask for payment?

 

[LYSE]

Once the reservation is made and they can confirm it on MDE

 

[Sandisw]

We require payment in full within 24 hours of booking the reservation or it is canceled. We do not borrow points when we rent out for that reason.

 

[WxKristin]

I require 50% once they can see the reservation in MDE (my contract gives them 24 hrs from the time of booking to do this). Then I require the other 50% 60 days prior to their start date. For trips less than 60 days out, I require the entire payment within 24 hrs once the reservation is made.

 

[Ronaldo17]

We require payment in full 24 hours after the reservation is made and the renter is able to see the reservation on MDE.

 

[EYL]

I require payment that is equivalent to the maintenance fees (rounded up) within 24 hours. Depending on how far away the reservation is, there may be some payments in between, but the remainder is due 35 days before the reservation. This way, if I need to cancel the reservation, points will not go into holding.

 

[Matty B13]

I always get full payment after I send the confirmation email to the renter, I'm not tying up my points for a renter that might decide that they don't want to go 60 days before the next payment is due. In that same time I could have rented to someone else, and/or lose my points.

 

[mz-s]

So to those who allow a deposit and a final payment at X days, do you refund the deposit if they back out? Or is the deposit nonrefundable?

 

[starry_solo]

I require 50% once they can see the reservation in MDE (my contract gives them 24 hrs from the time of booking to do this). Then I require the other 50% 60 days prior to their start date. For trips less than 60 days out, I require the entire payment within 24 hrs once the reservation is made.

this is what the person I rent points from requires too.

 

[EYL]

So to those who allow a deposit and a final payment at X days, do you refund the deposit if they back out? Or is the deposit nonrefundable?

I have not had anyone back out yet, but all funds paid to me is non-refundable.

 

[Cyberc1978]

Unless otherwise agreed I require payment in full when the reservation have been verified in MDE.

If installments are required, I'll take 40% down at the time of booking and the balance 120 days prior to checkin.

Less than 120 days out and reservations for $500 or less I always require payment in full

 

[WxKristin]

So to those who allow a deposit and a final payment at X days, do you refund the deposit if they back out? Or is the deposit nonrefundable?

Maybe I'm too nice, but at >60 days the deposit is fully refundable. I've had someone back out once and had no difficulty reselling the reservation. But it was also the 4th of July at PVB, so I wasn't particularly worried about it.