How Hard to Rent Your Points?

[Club Cooloholic]

Ready to sign a contract..on a resale, but wondering how hard is it to rent out points. Are sites like Disney Davids easy to work with? Any advice would be great, I see he lists you can get 14 dollars a point. Seems women could pay for the initial investment by just renting points by year 16. Obviously we would not do that. But

 

[Lensman]

Ready to sign a contract..on a resale, but wondering how hard is it to rent out points. Are sites like Disney Davids easy to work with? Any advice would be great, I see he lists you can get 14 dollars a point. Seems women could pay for the initial investment by just renting points by year 16. Obviously we would not do that. But

Why just women?

As I said in my reply in the other thread, whenever I have points that I'm not going to use, I just rent them out at one of the DVC point rental places. I've used the one you mentioned and had no problems.

I've forgotten to bank my points by my banking deadline and so have had points with only 3-4 months before expiration and had no problem renting them. It's usually taken well less than a month, but I'm pretty fast on the reply to their email when they have a customer for my points.

 

[Club Cooloholic]

Why just women?

As I said in my reply in the other thread, whenever I have points that I'm not going to use, I just rent them out at one of the DVC point rental places. I've used the one you mentioned and had no problems.

I've forgotten to bank my points by my banking deadline and so have had points with only 3-4 months before expiration and had no problem renting them. It's usually taken well less than a month, but I'm pretty fast on the reply to their email when they have a customer for my points.

lol autocorrect for me again! Was supposed to be we could. Thanks len

 

[nickys]

The only issue with renting points out is that at certain times of the year, it would be all but impossible to book anything within the next 3 months.

For example, if you had points that were expiring in December and had to cancel a planned stay in September, your chances of being able to rent those points out before they expire are slim. Simply because availability between now and the end of the year is not good.

Otherwise a broker ican be much easier to work with than renting them privately. The broker does all the checks for you, and shoulders the burden of risk. The “price”for that is the $3_5 per point extra that you could get (sometimes more) by doing it privately. Some people don’t mind doing the extra work involved, others choose to take less per point and have the broker do much of the leg work and enforce the contract, as it were.

 

[correcaminos]

The only issue with renting points out is that at certain times of the year, it would be all but impossible to book anything within the next 3 months.

For example, if you had points that were expiring in December and had to cancel a planned stay in September, your chances of being able to rent those points out before they expire are slim. Simply because availability between now and the end of the year is not good.

Otherwise a broker ican be much easier to work with than renting them privately. The broker does all the checks for you, and shoulders the burden of risk. The “price”for that is the $3_5 per point extra that you could get (sometimes more) by doing it privately. Some people don’t mind doing the extra work involved, others choose to take less per point and have the broker do much of the leg work and enforce the contract, as it were.

This - knowing how different seasons book is something to keep in mind.

That said most renters have a no refund cancellation policy so even if they did cancel their stay you are not out money for the room. You also can try to rent it on short notice as a confirmed reservation if needed.

 

[EOD K9]

I've never rented out through a broker, but I have rented to well known posters on this site with great results.

 

[wdisney9000]

I would suggest joining some of the rental websites asap. Before we bought DVC and we rented points, I was always a bit more wary of a renter who just recently joined the site and had no history of posts let alone prior transactions.

 

[Club Cooloholic]

I would suggest joining some of the rental websites asap. Before we bought DVC and we rented points, I was always a bit more wary of a renter who just recently joined the site and had no history of posts let alone prior transactions.

I joined up on mouseowners, contract now in Disneys hands and hopefully it goes through and not taken back

 

[wdisney9000]

I joined up on mouseowners, contract now in Disneys hands and hopefully it goes through and not taken back

Thats great! The waiting part is horrible. Days feel like weeks. Ours passed RoFR within about a week. Hopefully yours will go through with no issues. Keep us updated!

 

[Club Cooloholic]

Thats great! The waiting part is horrible. Days feel like weeks. Ours passed RoFR within about a week. Hopefully yours will go through with no issues. Keep us updated!

A week would be awesome...especially since it will give me time to move these points lol. If anyone is interested I will have 160 I gotta book before Feb 1st.

 

[Club Cooloholic]

One last question....if I let a renter use my points. Can they charge food etc to the room or damage the room and I get stuck with the bill? If so any protections against this?

 

[nickys]

One last question....if I let a renter use my points. Can they charge food etc to the room or damage the room and I get stuck with the bill? If so any protections against this?

Anything like that, or ask for an upgrade and the CMs use points to do so, etc.

Yep, you will be liable, and Disney will bill you.

If you rent your points out through a Broker then they would presumably go after the owner for the costs, but Disney will still expect you to pay the damages. If you rent the points out privately, I don’t know how you proceed.

The upgrade situation is the one that worries me, simply because it does happen from time to time. CMs will sometimes just borrow points to do so. Even through a broker it could still affect future plans. For example, we bank and borrow to visit every 3 years. We have just under a hundred points just now that I will rent out. If the renter was to use an extra 50 points, that would affect our plans for the next stay.

Personally that’s why I will use David’s to rent my points.

 

[Club Cooloholic]

Anything like that, or ask for an upgrade and the CMs use points to do so, etc.

Yep, you will be liable, and Disney will bill you.

If you rent your points out through a Broker then they would presumably go after the owner for the costs, but Disney will still expect you to pay the damages. If you rent the points out privately, I don’t know how you proceed.

The upgrade situation is the one that worries me, simply because it does happen from time to time. CMs will sometimes just borrow points to do so. Even through a broker it could still affect future plans. For example, we bank and borrow to visit every 3 years. We have just under a hundred points just now that I will rent out. If the renter was to use an extra 50 points, that would affect our plans for the next stay.

Personally that’s why I will use David’s to rent my points.

How does Davids protect you more than anyone else?

 

[nickys]

How does Davids protect you more than anyone else?

A broker has the bank details and contact details of the renter. They would demand the payment of damages from the person who rented the points. Presumably the threat of being pursued by a company like David”s is somewhat more daunting than by a private renter. If you did it privately, I don’t know what action you could take, bar reporting them to the police as a fraud.... For me that would be all but impossible, given I’m not even in the US. I think David’s chances are better of getting money from them than mine!

 

[Club Cooloholic]

A broker has the bank details and contact details of the renter. They would demand the payment of damages from the person who rented the points. Presumably the threat of being pursued by a company like David”s is somewhat more daunting than by a private renter. If you did it privately, I don’t know what action you could take, bar reporting them to the police as a fraud.... For me that would be all but impossible, given I’m not even in the US. I think David’s chances are better of getting money from them than mine!

You might be right, but I thought the renter paid by credit card, if it's like my business, that card number is not captured by David, it goes to a third party processor like PayPal and you can only bill that which has been authorized, in this case the rental amount agreement, so no way of going after the renter by way of charging the card again.

 

[nickys]

You might be right, but I thought the renter paid by credit card, if it's like my business, that card number is not captured by David, it goes to a third party processor like PayPal and you can only bill that which has been authorized, in this case the rental amount agreement, so no way of going after the renter by way of charging the card again.

The rental agreement though will state that the renter is liable for any charges run up. I assumed it will be easier for a broker to enforce that that an individual. Because as an owner you would also have a contract with the broker. Otherwise just what security do I have renting my points out through a broker?

 

[Club Cooloholic]

The rental agreement though will state that the renter is liable for any charges run up. I assumed it will be easier for a broker to enforce that that an individual. Because as an owner you would also have a contract with the broker. Otherwise just what security do I have renting my points out through a broker?

Very good thinking and they want to maintain a good rating with customers both buyers and renters

 

[Phonedave]

The rental agreement though will state that the renter is liable for any charges run up. I assumed it will be easier for a broker to enforce that that an individual. Because as an owner you would also have a contract with the broker. Otherwise just what security do I have renting my points out through a broker?

Very good thinking and they want to maintain a good rating with customers both buyers and renters

I know David's (and others) does a good job protecting the buyers. Money is held in escrow, and given to the person renting out the points until the room has been reserved. I have also head stories of reservations not being made for some reason, and David's paying cash for a room on the spot, so the buyers could have their vacation and then going after the owners of the points on their own.

The renter agreement at David's does state the following. I assume they enforce it

Renter agrees to abide by all Disney Vacation Club terms, policies and rules applicable to Disney Vacation Club owners and Disney Vacation Club membership. Renter agrees to be responsible for any unpaid charges or damages to the unit rented, including all contents and improvements, Disney Vacation Club property and Disney property during his/her stay that are assessed against the Owner or his membership. Any unpaid charges or damages assessed shall be reimbursed to the Owner or the Intermediary or their assigned agents within 10 business days of notice to Renter. Sending a fax or e-mail copy of a Disney Vacation Club or other Walt Disney Company communication assessing the charges or damages shall satisfy notice to the Renter. Renter agrees to pay any and all charges to the Owner or the Intermediary or their assigned agents for any fees or charges related to the collection of any monies owing.

 

[Lensman]

Just wanted to add a datapoint for this year that I put my points into the queue earlier this week at my usual rental broker and they just completed reservations for the last of the points today.

 

[AugieJ]

I too am interested in the prospect of renting out points if needed.

Is it a known occurrence that renters can skimp out on charges to the room?
I would assume that a renter would have to put their card on file at the front desk for any incidental charges.

.... I kinda foolishly told the CM at VGC I was DVC when she asked for a card. She politely told me it is for any incidental charges....