DVC Rental Questions

[LarryBoy]

What is the typical payment procedures when renting points from a DVC member? For example, what is the typical deposit, and when is full payment usually due? Also, how far out can DVC members book a resort for you? I know this differs between home resort and non-home. Thanks for the help, we are starting to make plans for a summer 2009 trip, and one of my options is renting points. I figure it might be a good way to stay at one of the prime locations like BW, WL, or BC at a somewhat lower price.

Any other tips or advice would be most welcome as well. :thanks:

[DVC Mike]

You might want to read the thread below, which should be helpful:

http://www.intercot.com/discussion/showthread.php?t=122549

[LarryBoy]

Thanks for all the information Mike, but what I cannot seem to find out is the typical payment expectrations when renting. I'm sure it varies, but have any of you ever rented points or rented out your own points before? What type of deposit was expected, and when was full payment expected?

[DizneyRox]

If I were renting out my points, I would NOT make a reservation until I received full payment. As a member, using points can really screw around with your ability to do other things with them, and having someone cancel a reservation, or not pay, could put those points in jeopardy.

For example, say my use year is February. I have until the end of September to bank 100% of my points. Imagine I sell my points to someone who wants a trip in October. Using good faith, I make the reservation for them with only a hundred dollar down. October 1st, they call me and tell me they changed their mind and won't be going. It's now too late for me as the member to bank those points, so I need to use those before February of the next year. Also, since we're less than 30 days, there's a penalty of points for canceling the reservation as well.

So, I wouldn't make a reservation without full payment.

[LarryBoy]

Thanks Rox. Do most of you members who rent want the cash up front? That will probably seriously influence wether I rent points.

[Ian]

I would have to think they would. I know there's no way I would make a reservation for someone without getting the money up front.

[DizneyRox]

Thanks Rox. Do most of you members who rent want the cash up front? That will probably seriously influence wether I rent points.

I have never rented, so I'm not sure, but I would expect others do. Like I said, use of the points is sortof restrictive, so to make random reservations, change them constantly, etc isn't a good idea. The DVC owner could really get taken advantage of and end up losing money/points, etc.

It's a great way to get deluxe accomodations pretty cheap, and it helps the DVC members as well if they don't need to use their points for a given year, etc. But, it requires some trust...

Some people I'm sure don't have a problem with it, and I'm sure there are many people who have excellent transactions, etc. But I'm also sure that at least one person has been ripped off by someone and shown up, family in tow, to find no reservation in the system.

It's a private transaction between two people... Everyone needs to cover their bases. Some sort of written contract wouldn't be a bad idea before you go ahead and send cash/checks, etc. But that's not going to help with Disney. As Ian has said though, there's not a chance I would make a reservation for someone else until I had cash in hand, the check cleared, or whatever other form of payment was agreed upon has been safely deposited into my bank account. I wouldn't have a problem signing some contract though, as long as the penalties for a canceled reservation also covered my losses as a member. Which could mean the person renting doesn't get anything back if they end up canceling at an inopportune time.

[Cookie123]

This requires a lot of trust by both parties.
I have rented 5 winters in a row. My 4th time renting I got ripped off of $550.00. This was
from a drug addicted woman who was selling her Aunt's DVC points, and then cancelling, then trying to rent the very same points to someone else. I guess she hurt quite a few people this way, and member services let her get away with it over and over.

All my other renting transactions were PERFECT ! I always booked at the 11 month window. All the people I rented from wanted 50% of the total bill, at the time of booking, and the rest paid in full about 6 months later.