home News forums Reviews Trade links

Go Back   The DVC Boards at MouseOwners.com - the place to talk DVC and Walt Disney World > VACATION CLUB RESOURCES > Questions about Renting DVC Points
 Register FAQ Calendar Search Today's Posts Mark Forums Read

 Notices

Reply
 
Thread Tools Display Modes

Old 04-24-2015, 06:52 AM   #1
DVC Information
*****
 
Join Date: Jan 2007
Posts: 3,912
Arrow Guide for DVC Members who want to rent their points

Note: This post is intended for DVC members/owners who are interested in renting out their own points. If you're not a DVC member/owner and want to find out how to "rent points", then you want to look at the "An explanation of renting points from a DVC member" post instead of this one.

Renting Out Your Points
So, you have some excess points that for some reason you’re not going to use and you either can’t bank them or you don’t want to. Maybe you have other plans this year and want to turn your points into cash and use the cash for another vacation experience. Maybe you just need a year away from Disney. Instead of letting them go to waste, you can rent them out to others and pocket the cash for whatever you need.

NOTE: Besides renting out your points, you can also consider a "Point Transfer".

Points should be listed for rental as soon as possible – ideally before the 11-month booking window, so they can be used at the home resort they are associated with. This is especially true for high-demand resorts such as BLT, BCV, BWV, VGC, VGF, and PVB, but less true for points at SSR, OKW and AKV. Don’t wait until the points are about to expire, as “distressed” points are usually rented at a discount.

The going rate for renting out your points is between $13-16/pt.

For an agreed-upon rental price, you, as the DVC owner, make a reservation in the name of the renter who is “renting points” from you. This is a private transaction between the owner and the renter and Disney is not involved.

Risks of Renting Points
There is risk on both sides of a rental transaction, as an owner/member renting out their points risks loss of their points (if not bankable) as well as exposure to potential damages to Disney property inflicted by the renter and their guests. The renter may smoke in the room, and you would be liable for the cleaning charge. I’ve even heard of cases where their credit card company denied a renter’s charges to their room, and Disney went after the owner.

Renting your points out using a points broker does not eliminate or even reduce this risk.

The RTB
The best way to make contact with prospective renters is the Rent Trade/Transfer board here on MouseOwners, which is basically a “classified ads” section. This can be done two ways:
  1. You as the owner watch the “reservations wanted” section for needs by renters and respond, and/or
  2. You can post your reservation in the “Confirmed Reservations for Rent or Points available for rent” section.

Before you use the RTB, please be sure to READ AND FOLLOW THE RTB POSTING RULES. Failure to do so can result in suspension or banning.

Use a Written Rental Agreement
Before you start responding to ads or posting your own, know exactly what you are offering, what your rental terms and conditions will be. You need to think about what you will and will not allow. Will you allow the renter to cancel and expect a refund? Will you allow the renter to change the reservation? If yes to these, will there be a point where you say no? Are you willing to borrow points for a longer reservation if needed?

Members should be aware that they are subject to all the reservation policies of DVC whenever they make a reservation – whether it's for themselves, a guest or a renter. If they make a reservation within 30 days of travel, they are automatically subject to holding account rules should they need to cancel the reservation. Members may want to insist on full payment from a renter before making a reservation within 30 days of arrival, as they will at least lose some value for those points should payment not be received.

Once you’ve decided, draw up a rental contract like the one here. This makes sure everything is spelled out in writing and can reduce the possibility of misunderstandings and disagreements about not meeting certain expectations. Be sure your contract clearly covers when payments are due and a cancellation clause. Make sure your renter agrees with your contract letter before making any reservation.

The real benefit of a contract is that it spells out the responsibilities and expectations of both parties clearly. Such a contract is very useful because it clears up any areas of misunderstanding.

As the member wanting to rent, you should above all protect yourself first and then think of ways to make the process as smooth and reassuring as possible for those who would rent from you.

Extra Work
If you’ve rented points before, you should be ready to provide some references in case the prospective renter asks.

Payment could be made by credit card, cashiers check, money order, wire transfers, personal check, or even cash. While any payment method an owner is able and willing to accept is up to them, you should be prepared to handle transfer of payments in a secure manner.

Be prepared to have to invest a lot of time in the process: 1) first when trying to locate a renter, and then 2) to handhold the renter through the process.

Expect to deal with people shopping around for the best price. Renters tend to be bargain hunters and you should expect some lowball offers. Sometimes a renter may cancel their transaction with you if they later find a better price from someone else.

Prospective renters may also want you to check on availability of reservations at various resorts for different periods – perhaps dozens of combinations – which can become wearisome.

Many renters who are new to the process may have unrealistic expectations. They may think last minute reservations are easy to get, such as trying to book the first week of December just 2 months in advance. A lot of renters simply have a lack of knowledge about how DVC works and how that differs from a traditional hotel reservation.

Even after the reservation has been made, some new renters who may be nervous about the process may reach out to you several times just to check and make sure everything is OK. If they can’t get ahold of you, they may even panic. If you are going out of town for something, make sure to email them and let them know so they don't wonder what happened to you if you don't respond immediately.

You need to be prepared to take punitive action if the renter misses a payment deadline. You don’t want to be stuck with points going into a holding account or facing expiration, which may lead to having to re-rent them as distressed points.

Points Brokers
Owners who don’t want to hassle with dealing with potential renters often choose points brokers, who match up potential renters and then handle all the legwork.

David's Vacation Club Rentals (which has been around since 2005) is the largest and most well known points broker. However, there are other legitimate point brokers. They all offer pretty much the same thing, for around the same price - although there are differences - including payment options and schedules, deposit requirements, etc. Confirm the company you choose is accredited by the Better Business Bureau, and has a spotless reputation. I would be cautious, as anyone can throw up a web site and claim to be a points broker.




➤ MouseOwners.com recommends David's Vacation Club Rentals.

Last edited by DVC Information; 06-25-2015 at 03:31 PM.
DVC Information is offline   Reply With Quote
Old 04-24-2015, 11:54 AM   #2
DVC Information
*****
 
Join Date: Jan 2007
Posts: 3,912
Default

If any owners who regularly rent out points could share what they've found to be successful process and practices, I'm sure it would be appreciated by new owners considering renting their points.

I'll be glad to incorporate your ideas into the first post.

.
DVC Information is offline   Reply With Quote
Old 04-24-2015, 12:23 PM   #3
EEGRAM
Grand Villa
 
EEGRAM's Avatar
 
Join Date: Aug 2013
Location: Cleveland Ohio
Posts: 1,083
Default

Thanks for the thread, Mike. I have not had any excess points to rent yet however I am planning a 2017 cruise so most likely will be renting points to help pay for that trip. This information will be great when I need it.
__________________
Carla - The Villas at Disney's Grand Floridian Resort & Spa, Animal Kingdom Lodge, Boardwalk Villas, Polynesian Villas & Bungalows & Saratoga Springs Resort & Spa
EEGRAM is offline   Reply With Quote
Old 04-24-2015, 05:31 PM   #4
SuzanneSLO
Grand Villa
 
Join Date: Jul 2008
Posts: 2,819
Default

I was surprised to see your suggestion that payment could be made through PayPal.

According to PayPal:"Besides the direct sale of real property, we also donít allow transactions that involve:
....
Timeshare transactions -- offers to buy, sell, or rent rights to the periodic se of a property. A timeshare is real estate that is jointly owned by people who share the right to use the property and take turns using it."

I can't see how taking payment through PayPal in violation of Paypal's rule would benefit a mouse owner. -- Suzanne
SuzanneSLO is offline   Reply With Quote
Old 04-24-2015, 06:35 PM   #5
neweagle99
One Bedroom
 
neweagle99's Avatar
 
Join Date: Aug 2011
Location: Stony Brook, NY
Posts: 417
Default

I have done 4 rentals and received payment by personal as well as bank checks. Mike, you should list these forms of payment. They are not so risky when you consider most rentals are at least 4 months out.
__________________
Denis
BWV SSR BLT
neweagle99 is offline   Reply With Quote
Old 04-24-2015, 07:28 PM   #6
DVCERSINCEDAY1
Grand Villa
 
DVCERSINCEDAY1's Avatar
 
Join Date: May 2008
Posts: 4,347
Default

Quote:
Originally Posted by neweagle99 View Post
I have done 4 rentals and received payment by personal as well as bank checks. Mike, you should list these forms of payment. They are not so risky when you consider most rentals are at least 4 months out.
personal checks, bank checks, and wire transfers to my account...only forms of payment i accept. no paypal, no money orders.
__________________
OKW, BCV, BWV, VWL, AKL

Barb & Family (Darcy, Belle, Rose, Joey, and Chippy )
DVCERSINCEDAY1 is offline   Reply With Quote
Old 04-24-2015, 08:14 PM   #7
DVC Information
*****
 
Join Date: Jan 2007
Posts: 3,912
Default

Quote:
Originally Posted by neweagle99 View Post
I have done 4 rentals and received payment by personal as well as bank checks. Mike, you should list these forms of payment. They are not so risky when you consider most rentals are at least 4 months out.
Quote:
Originally Posted by DVCERSINCEDAY1 View Post
personal checks, bank checks, and wire transfers to my account...only forms of payment i accept. no paypal, no money orders.
Obviously any payment method an owner is able and willing to accept is up to them. Payment could be made by credit card, cashiers check, money order, wire transfers, personal check, PayPal, credit cards via PayPal, or even cash.

The only one that offers any real protection to renters is using a credit card Ė no matter the merchant processor (including PayPal).

Quote:
Originally Posted by SuzanneSLO View Post
I was surprised to see your suggestion that payment could be made through PayPal.

I can't see how taking payment through PayPal in violation of Paypal's rule would benefit a mouse owner. -- Suzanne
Most of the points brokers accept PayPal. I have no issue using them. You should expect that they won't get involved in a dispute.
DVC Information is offline   Reply With Quote
Old 04-24-2015, 08:23 PM   #8
DVC Information
*****
 
Join Date: Jan 2007
Posts: 3,912
Default

Quote:
Originally Posted by SuzanneSLO View Post
I was surprised to see your suggestion that payment could be made through PayPal.

According to PayPal:"Besides the direct sale of real property, we also donít allow transactions that involve:
....
Timeshare transactions -- offers to buy, sell, or rent rights to the periodic se of a property. A timeshare is real estate that is jointly owned by people who share the right to use the property and take turns using it."

I can't see how taking payment through PayPal in violation of Paypal's rule would benefit a mouse owner. -- Suzanne
I think it's funny that eBay owns PayPal (until they split later this summer), and you can use PayPal on eBay to pay for a timeshare rental.
DVC Information is offline   Reply With Quote
Old 04-24-2015, 08:27 PM   #9
disney65
Add-on Aficionado
 
disney65's Avatar
 
Join Date: May 2013
Location: SouthEast, CT
Posts: 5,108
Default

Quote:
Originally Posted by SuzanneSLO View Post
I was surprised to see your suggestion that payment could be made through PayPal.

According to PayPal:"Besides the direct sale of real property, we also donít allow transactions that involve:
....
Timeshare transactions -- offers to buy, sell, or rent rights to the periodic se of a property. A timeshare is real estate that is jointly owned by people who share the right to use the property and take turns using it."

I can't see how taking payment through PayPal in violation of Paypal's rule would benefit a mouse owner. -- Suzanne
Quote:
Originally Posted by DVC Mike View Post
Obviously any payment method an owner is able and willing to accept is up to them. Payment could be made by credit card, cashiers check, money order, wire transfers, personal check, PayPal, credit cards via PayPal, or even cash.

The only one that offers any real protection to renters is using a credit card Ė no matter the merchant processor (including PayPal).



Most of the points brokers accept PayPal. I have no issue using them. You should expect that they won't get involved in a dispute.
Mike, Suzanne is right, you can not use PayPal for timeshare transaction. It is against their rule and I have first hand experience when I started renting out pts and took PayPal as payment. Money was still sitting in PayPal account and they approached me to find out what I was getting the money for, as I issued the invoices. Once I told them it was for renting point, first they asked the proof and then they told me to return all the money and get different form of payment and not to use them for this purpose again. I had to give them my consent in writing to get the hold lifted from my account.

I did mention to them that broker takes PayPal how it is different then me taking PayPal, I guess it is just as different biz setup, they may be setup as a brokerage firm not timeshare rental as they are not renting their own points.
__________________
Home Resort: Aulani, BLT, VGF, VWL, BWV, AKL, OKW, SSR, HHI

My Trip Reports

Photobucket has disabled 3rd party hosting, so none of the photos are visible, will move to some other site soon.

2015 Spring Poly/VGF
Wishes in Pics
Christmas 2014 HHI
2015 Christmas HHI and AKL
2016 - Atlantis Spring break
disney65 is online now   Reply With Quote
Old 04-24-2015, 09:20 PM   #10
DVC Information
*****
 
Join Date: Jan 2007
Posts: 3,912
Exclamation View of payment methods from both a renter's/owner's perspective

View of payment methods from both a renter's/owners' perspective:


Last edited by DVC Information; 04-25-2015 at 05:54 AM.
DVC Information is offline   Reply With Quote
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 09:47 PM.

© MouseOwners. "MouseOwners" is a registered servicemark. This is an unofficial fan site and is not affiliated in any way with The Walt Disney Company, the Disney Vacation Club, Disney Vacation Development, or any of their affiliates or subsidiaries. All Disney images © The Walt Disney Company.
Powered by Forum Software