Has anybody rent out your DVC points? How do you go about this? What are some potential problems? Thanks
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Rent out your DVC points?
- Thread starter Parkerbexar
- Start date
nickys
Premium Member
Not done it yet, but may be doing so.
You can go through a broker, like David's, or do it privately.
Essentially you make a reservation in the other person's name, and charge them per point it "costs" to make that reservation.
You have a contract to avoid as many pitfalls as you can, to protect both parties.
If you want to do it yourself, I suggest you go to a site like Mouseowners where they have a lot of information on how it works. Otherwise David's has information on his site.
dreamfinder
Well-Known Member
Easiest way is to work with one of the brokers. Basically you will make a reservation as their client requests, and then you get paid whatever agreed upon per point amount. Using a reputable broker should give you some level of legal protection as they do have contracts that get signed. However, even with that contract the booking is technically yours, and Disney may come back to you if the guest causes damage or something.
Renting yourself directly to a guest may get you more money per point, but unless you are either a lawyer who can draft up your own contract, or are renting to someone you closely trust, you are really on the hook if the guest does something.
Renting yourself directly to a guest may get you more money per point, but unless you are either a lawyer who can draft up your own contract, or are renting to someone you closely trust, you are really on the hook if the guest does something.
correcaminos
Well-Known Member
I've only rented to friends so we had little experience with it. If you want top dollar you can rent yourself. Just read up on contracts and such before you do so. There are a lot of good templates out there to pick from. If you want to rent to get some money for it, then go through a broker.
The biggest potential problem IMO is fraud. Though as a renter not as likely as like as those renting. You may get people who do not pay up though if doing it privately I would expect payment in full. Through the companies you get some money up front but the remainder upon check in.
The biggest potential problem IMO is fraud. Though as a renter not as likely as like as those renting. You may get people who do not pay up though if doing it privately I would expect payment in full. Through the companies you get some money up front but the remainder upon check in.
Jon Walks the Dinosaur
New Member
I have did it about 2 or 3 years with David's DVC Whatever it is called. It was pretty fairly easy. I'm sure you can get more money doing it yourself, but as stated above. Brokers protect you and the renter.
nickys
Premium Member
Yeah, my biggest worry doing it privately would be making the booking and then not getting paid, thereby having a reservation that I couldn't use. I know you can cancel, but as we go every 3 years that might not work if we had missed the banking window.
I personally would feel happier using a broker, even if it does mean I get less per point.
Phonedave
Well-Known Member
It seems that people who rent privately expect full payment up front before the booking is made, and then have a no refunds policy.
It's really the people renting to points who are at the most risk. I think that's because you have a lot of people who rent out the points they own year after year, and you can check up on them on various forums. People who are renting the points to use may not be frequent repeat renters, so are harder to check up on.
-dave
correcaminos
Well-Known Member
Not among the group I know. They are happy to make the reservation but expect payment within 7 days off confirmed booking.
I actually disagree with your last part. What did the owner have to lose vs those renting? Those renting could lose money. A renter can always cancel and rebook points.
Jon Walks the Dinosaur
New Member
Cancelling and rebooking will get harder to do as you get towards your use year month. And as us DVC members know, these days, good look booking anything you want less than 3 or 4 months out.
EOD K9
Well-Known Member
I've only ever rented my points out to posters from this forum. All of them have been around for a while and aren't considered trouble makers. We agree on a price, I make the reservation, get paid in full, then release the confirmation number.
I charge less than the brokers, but more than what they pay me. We've all been fortunate that nobody has canceled and have to refund their money or figure an alternate plan out. It has worked out very well.
I charge less than the brokers, but more than what they pay me. We've all been fortunate that nobody has canceled and have to refund their money or figure an alternate plan out. It has worked out very well.
correcaminos
Well-Known Member
Still much less of a risk IMO. If you don't get your money in 7 days you rent that reservation or a new one. You don't do refunds so once you get money, nothing is lost
Phonedave
Well-Known Member
Reservations are not always easy to re-book. Not to mention the potential missed opportunities that could arise when you have a reservation tied up. I would have the reservation number ready, but not provide it until I was paid, and would expect less than a 7 day turn around.
correcaminos
Well-Known Member
You can make it less of you want. But at most 1 week vs being out of thousands of dollars? Sorry that's hardly a comparison
Phonedave
Well-Known Member
What does that mean? Are you saying that if somebody told you that they would rent you points but they want payment the next day that you would walk from the deal?
A week sounds a lot like being paid on Tuesday for a hamburger today.
-dave
correcaminos
Well-Known Member
What? You are now seemingly arguing something that I never said. I have no idea what your point is and frankly I am getting annoyed. My point is a renter of points has a LOT more to lose them those renting out. Like by thousands of dollars. With that I am done discussing this with you
Phonedave
Well-Known Member
Im not trying to be argumentative. I am trying to understand what you meant. You said "You can make it less of you want. But at most 1 week vs being out of thousands of dollars? Sorry that's hardly a comparison" making it sound like a week was not a long time to wait for payment, and that a weeks wait was fair compared to what the person paying for the points 'risks".
I still maintain my stance that both parties have a lot to loose, and that prompt transactions (on both sides) go a long way towards good will and a "warm fuzzy" feeling about the whole deal. Perhaps what you and I consider prompt differs, but I do not consider taking a week to make a payment prompt - especially in a private transaction where the buyer went in with the intent to make a purchase.
-dave
correcaminos
Well-Known Member
Typical length of time I have seen for reservation made to payment required is 7 days. Since most do it via check, this allows the check to be mailed and such. Paypal is not allowed for timeshares though many use it. Bank wire would be the only faster option or something like chase quick pay I think. If using a direct payment method you very well could say you have 24 hours from confirmation to pay. That is on the renter the amount of time they give before canceling.
I am simply stating that the worst case for someone is having a reservation made for a week that will be canceled.
So while you think that's a huge deal to lose a few days and have to re-rent, I personally think a couple thousand or more is a bigger deal. To the point where I would not rent from anyone I do not know or request a transfer. My money is far more valuable than a minute or two lost making a reservation then cancelling.
slappy magoo
Well-Known Member
To the OP I'd recommend using someone like David's to rent out your points for you. You'll get paid less, but they handle everything and pretty sure you will get a contract for the transaction that protects all parties equally and fairly.
Dvcreservations
New Member
Well a service protects you and your money, normally. Creates contracts between all parties and knows the common mistakes people make and helps you avoid them. Also deals with the other party as well.
Doing it on your own offers you no protection. It’s a matter of how much risk you want to take. Doing it on your own earns you slightly more, but there is more risk.
YorkshireT
Well-Known Member
Used David’s. No issues whatsoever and very very quick (all my points were gone in a day or so).