When renting how do you confirm reservation??

[beattyfamily]

Hi all,

I did not post this on the rent/trade board because I was afraid since it's a question and not a rent/trade post, it would get ignored or missed.

I am renting for the first time. I was wondering what you have done to ease the fear of the renter once you've booked the room?

Do you 3 way call Disney maybe? Do you give the renter all the info like your DVC # and the confirmation # and they call Disney and confirm? Do you just give them the confirmation letter? An original or a copy of it?

I'm a little nervous giving my DVC number for the renter to call Disney and confirm. Is there any risk in doing that or is there a way for them to confirm with Disney without my DVC number?

Help a newbie, please.

Another question, do most of you ask for 100% payment after confirmation or 50%? Do all of you do NO REFUNDS??

Does anyone know how long DVCers have been renting out for $10? It seems like it's been years. Just wondering. It seems like such a great deal for the renters! Right now a studio in Oct is between $260 - $360 plus tax but it's only 45 points for 5 nights studio/standard (Oct). That's a huge savings my renter is getting!

Thanks for any insight and advice.

 

[Connears]

I rented out points for the first time last fall. I got all the renter's information needed for the reservation and I called MS and made the reservation and added all their information to the reservation. They mailed me the cost of the accomodations and when I recieved it, I mailed them the letter.When the confirmation letter arrived, I mailed them the original. We agreed on this when I called them after I made the reservation. At this call I also gave therenters the confirmation number that MS gave me over the phone. There is a certain amount of trust needed on both parts. I had all their info and they had my name and phone number, I would have given address if they had asked. It all went very smoothly. I don;t recall seeing very many negative experiences on these boards, but I know it can't be fool-proof.
Connears

PS we agreed that renter would pay full amount as it was less than 60 days before their arrival. Otherwise we would have asked for 50% with confirmation and 50% 30 days before.

 

[beattyfamily]

Thank you for your reply and info!

Did you ever give the renter an opporunity to confirm the reservation with MS or the resort? That's what I am wondering about the most.

How can they confirm this on their own so they feel secure?

Call MS? 3-way call? Call resort directly?

If they can cal MS what info do they need to confirm it?

Thanks.

 

[BEACHCLUBVILLAS]

I am a member and we rented additional points recently. I called the resort directly a few days before we left to confirm and make sure there were no issues. I don't think you can do that unless its a week or less out but I'm not positive about that criteria. All was fine and we had a great time.

 

[fkj2]

I don't think I've ever 3-way called MS; ok, so I'm not sure how to.

I've always offered references and potential renters often decline--I think one checked once and another occasion, I rented points through someone who contacted me because of another renter. Anyhow, I ask one-half down when I make the ressie with a copy of the confirmation and the other about 45 days, at least, prior to beginning date of the vacation, to allow the check time to clear the bank before the 31 day cancellation/holding window.

I've had one person cancel when she found out, immediately after making the ressie, that she was losing her job. I don't penalize anyone for cancelling if my points aren't in jeopardy.

As to the $10/point question, I can remember that about a year and a half ago, potential renters were offering $7-8/point but am not sure how many DVC owners would rent for that but you can't blame someone for trying. But then the economy started to improve and $10 became the norm with some now asking routinely for $11-12. It's still a good deal for someone wanting to stay at a deluxe resort, even if there isn't daily housekeeping.

 

[beattyfamily]

Originally posted by fkj2
As to the $10/point question, I can remember that about a year and a half ago, potential renters were offering $7-8/point but am not sure how many DVC owners would rent for that but you can't blame someone for trying. But then the economy started to improve and $10 became the norm with some now asking routinely for $11-12. It's still a good deal for someone wanting to stay at a deluxe resort, even if there isn't daily housekeeping.

Thank you for that bit of info. So $10 has been only the last couple of years. I wasn't sure.

Thank you!

 

[Happy Birthday Cat]

Originally posted by beattyfamily
Did you ever give the renter an opporunity to confirm the reservation with MS or the resort? That's what I am wondering about the most.
How can they confirm this on their own so they feel secure?

Call MS? 3-way call? Call resort directly?

If they can cal MS what info do they need to confirm it?

When I have rented I let renters know up front what they will get from me. I have a written list of things that we both agree to. I provide them with the original confirmation and if they want to call the resort, it's up to them. I try to be reassuring to the renters so they know that I'm not someone who is just trying to rip them off.

You have a lot of Dis-Board posts and a renter would be very fortunate to be able to rent from you with your history here.

HBC

 

[beattyfamily]

Originally posted by Happy Birthday Cat
You have a lot of Dis-Board posts and a renter would be very fortunate to be able to rent from you with your history here.

HBC

Thank you very much for that! Very sweet of you!

I just wanted to be ready because I wasn't sure if I was suppose to let the person renting call MS or the resort or what.

Thanks!

 

[RweTHEREyet]

I sent my renter the original confirmation and kept a copy for myself. I see no difference in letting them call MS to confirm than for me to do it. I know others on this Board disagree. The renter cannot change anything on the reservation, not even trash and towel day, without a member number, and that is not on the confirmation. So to me, sending them the confirmation letter is the best way.

 

[beattyfamily]

Originally posted by RweTHEREyet
I sent my renter the original confirmation and kept a copy for myself. I see no difference in letting them call MS to confirm than for me to do it. I know others on this Board disagree. The renter cannot change anything on the reservation, not even trash and towel day, without a member number, and that is not on the confirmation. So to me, sending them the confirmation letter is the best way.

So they can call MS and get the info to make them feel better WITHOUT my member number? That's is where I'm confused I guess.

 

[fkj2]

I think it depends on which cast member from MS takes the call. Under no circumstances would I divulge my member number to anyone.

 

[beattyfamily]

Thanks everyone!

 

[RweTHEREyet]

Yes they can, if they call and explain they are not the DVC owner but that they have the confirmation number, MS will verify to them that their name is on the reservation. The renter cannot do anything but confirm their name.

When your renter checks in, they will then be asked for their address, etc., but until then MS will not put that information on the reservation, just their name.

 

[Mike]

Forgive me because I am new to this (I am in the process of closing on an OKW resale), but I can't believe that people do this! The person renting the points is taking on a lot of risk. Once they send their final payment to you and the check clears, their fate is totally in your hands. What is to stop you from then cancelling the reservation and banking your points? What recourse would the renter have? I'm not implying that any of you folks would do this but I can't believe that these renters would put that much trust in total strangers. I know that is a sad statement, but the way the world is today I don't know how you can trust people with such a large amount of money. Would the renter have any recourse through MS? I'm thinking that they wouldn't bacause the DVC owner owns the points and the payment to rent them was a private exchange.

 

[beattyfamily]

Originally posted by Mike
Forgive me because I am new to this (I am in the process of closing on an OKW resale), but I can't believe that people do this! The person renting the points is taking on a lot of risk. Once they send their final payment to you and the check clears, their fate is totally in your hands. What is to stop you from then cancelling the reservation and banking your points? What recourse would the renter have? I'm not implying that any of you folks would do this but I can't believe that these renters would put that much trust in total strangers. I know that is a sad statement, but the way the world is today I don't know how you can trust people with such a large amount of money. Would the renter have any recourse through MS? I'm thinking that they wouldn't bacause the DVC owner owns the points and the payment to rent them was a private exchange.

You're right it is a big risk for the person renting and I guess that's part of the reason it's such a big huge savings too! Like I said before the gal that is renting from me is paying $450 for 5 nights and if she went through Disney it would be around $330 (depending on any discounts/codes out) a night PLUS TAXES. So with this huge discount comes some risk.

I believe that most here though that rent are more comfortable because we all kind of know each other. We're a community.

I would probably never rent from someone if I weren't a DVC member as I just can't handle risk and the stress but if you are up for it, it can be a great thing.

This is my first time renting out my points (so we can go to CA next year!) and so far so good.

I am drawing up a contract with her to help relieve her fears but I don't know how much weight it holds.

 

[Dean]

Originally posted by fkj2
As to the $10/point question, I can remember that about a year and a half ago, potential renters were offering $7-8/point but am not sure how many DVC owners would rent for that but you can't blame someone for trying. But then the economy started to improve and $10 became the norm with some now asking routinely for $11-12. It's still a good deal for someone wanting to stay at a deluxe resort, even if there isn't daily housekeeping.

Not really accurate. After 9/11 there was a little dip and a lot more distressed points which understandably go for less. There were also more people who had to rent their points that expected it to be a one time thing and they tended to ask for less. Actually the going rate has been at around $10 pp since there was any real rentals. I know at least back to around 96. On ebay and the like, they tend to rent for more than $10 pp in most situations and also have for at least 6 years.

 

[Lisa F]

I recently have rented out some points in order to pay for our upcoming cruise. Honestly, if you peruse the rent/trade boards it almost seems like most of the people who post there register only to rent their points. I agree that having a high post count can help, I can't believe how many responses I got to my ad.

I agree that I would never give out my member number and in the point transfer transaction that I just did, I asked the other member NOT to give me her number. You just never know what might happen some day and I don't want the responsibility!

Whenever I have rented, I scan and email the confirmation when I receive it and then forward the original on by snail mail. They can try to call MS but MS isn't supposed to give out information about the reservation if they are not talking to a member. I suppose once it's released into the resort's computer system they can call, but honestly it really just comes down to trust. If someone wanted much more than that from me I would probably decline to rent to them because it's more hassle than it is worth and there are apparently tons of people who want to rent points!

 

[Muushka]

Originally posted by Lisa F
Snip......If someone wanted much more than that from me I would probably decline to rent to them because it's more hassle than it is worth and there are apparently tons of people who want to rent points!

Truer words were never spoken (for me anyway). I have read some posts from would-be renters (on these boards) and I get a stomach ache just thinking about all the work that would be involved in renting the points to someone who was afraid of being ripped off. I can't blame them for being unsure with the trust that is needed, but at the same time, buying from someone on these boards with a high post count should count for something.

I know that I was very lucky with my last point-renting deal. My renter was completely comfortable with the transaction and well educated with the DVC point system. I had planned on trying to transfer them to another member, but she came along first and it worked out so well.

To answer your questions (I forgot to do that!)

My renter did not require a 3 way call. I snail-mailed her a copy of the reservation and that was good enough. I also encouraged her to call and confirm that the reservation did exist (not sure if she did or not). I did not give our member number out (NEVER!)

I asked for 50% when the reservation was made and the other 50% due 40 days prior to the arrival date. I made it 40 days because I accepted a personal check (trust on both sides).

I would have done a refund if I was able to rent out the points if she cancelled prior to the 40 days. Otherwise, the points are the renters. If they could rent them out to someone else I would have tried to secure a reservation for the new renter, but it would have to be an easy reservation (NOT 1st 2 weeks of December!).

Good luck. It really should not be a difficult thing to do. If it is, you may not have the right renter.