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Old 03-31-2020, 08:52 PM   #161
Dkg711
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Quote:
Originally Posted by avsheffi View Post
Unfortunately you did not misunderstand. I rented out points in May 2019 for an April 2020 stay. The points have been tied up for 11 months and they expire on 5/31/2020. David is asking that I refund the owner the 70% they have given me so far. He says he will give the renters a yet-to-be-determined travel credit with the funds. Until I get more clarity around all of this I am holding on to the money. If I refund the deposit, I want it to go to the renter not to Davidís pocket. When I email David I get canned emails back but no answers to my questions.
Thanks for posting your experience. I'm a DVC owner who is renting my points through David's. The reservation is for mid-May. I've yet to hear from David's.
I'm assuming there are a number of reservations ahead of mine and communication will come in the order of the reservation.

I fully intend to refund the monies I've received so far; but agree with you and do not really want to refund my 70% of the rental fee back to David's if he is going to keep it and just offer the renter a voucher for a future rental.

I have the email address of the renter. Has anyone reached out to their renter and returned the 70% directly to the owner? Are there any repercussions in doing this?
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Old 03-31-2020, 08:55 PM   #162
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Originally Posted by jds63 View Post
I sort of agree with your point of view, but I am what you are talking about, We decided to rent this year, because hotel rates this year are through the roof. We booked through The DVC store, we were offered Cancel for any reason, in hindsight should of took it, what I did not like about it was the pro rated as your vacation gets closer. So I decided to get travel insurance, it was so full of loop holes for them to get out of paying I decided no. My point is most do not cover terrorist acts, war,disease pandemics and the list goes on. Also before now I never thought of Disney being totally shut down.
Going through a broker protected me from the owner side and I was willing to take a chance on my side if something happened. Oh well. Does not look good for us right now. Rented once before, did not go well reservation got cancelled two days before our trip, was made right though, but mess up a few plans. This year I talked my wife into saving a few bucks this year, now my name is mud. We would be DVC owners by now, but do not like the way Disney has been changing. I really do not think members are treated right by DVC. Just wanted to add my two cents. Would like to say you all are a find group of people on this board: Wish I rented from someone here instead.
Rabbit trail, thread drift...

We look at DVC strictly as a timeshare. A way to save a little money on future vacations. Any and all perks are just that, perks. Like finding Mouseowners.
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Old 03-31-2020, 10:23 PM   #163
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Originally Posted by avsheffi View Post
Unfortunately you did not misunderstand. I rented out points in May 2019 for an April 2020 stay. The points have been tied up for 11 months and they expire on 5/31/2020. David is asking that I refund the owner the 70% they have given me so far. He says he will give the renters a yet-to-be-determined travel credit with the funds. Until I get more clarity around all of this I am holding on to the money. If I refund the deposit, I want it to go to the renter not to Davidís pocket. When I email David I get canned emails back but no answers to my questions.
I'm at an absolute loss of why Owners or Renters are being asked to shoulder any of the financial liability that I thought brokers assumed along w the benefits of their hefty 25% commission. All over the world, small business owners are pouring their own money into their companies to keep them afloat. Yet, David's seems to be attempting to guilt Owners into giving him money, rather than encouraging them to deal w their Renters to make a replacement reservation.

Personally, I hope you refuse to refund your money. David's were the DVC specialists; they knew the problems w end of UY reservations. Their failure to respect those issues lies w them.
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Old 04-01-2020, 01:33 AM   #164
mditkof
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Originally Posted by carolina_yankee View Post
The details have been sketchy to me because I don't rent out and haven't followed the process closely.

Based on these reports, a casual reader would understand that:
  • The Owner is out commission.
  • David gets to keep all cash and invest it or let it earn interest or whatever he does with it.
  • David gets to keep the commission.
  • The renter gets a credit to be used at a later time with no specifications on how long it's valid or when it can be used.
  • Owners who want to work out an alternate solution are being ignored by David
  • Owner gets absolutely nothing out of this.
  • Renter gets to potentially rent something somewhere for some duration of time that David hasn't clarified.
  • David gets to keep all money: the 30% they are holding onto, the 70% the owner gives back, and the commission.
  • Global pandemic hits, putting millions in financial jeopardy including the company that owns the timeshares, and David doesn't lose a dime.

Now, that's a casual reading. Maybe it's different in the details. Did I misunderstand anything?

Dirk
That is just not accurate from my experience earlier today. I exchanged emails with one of David's people today for an April 25th reservation (I am the points owner) and they are not asking for money back and have asked if I can work with them on the same scenario that we did for the Hurricane last year. This is completely different than some of the other posters -- as such, I am at a loss as why the different approaches.

Seems that David's group is getting slammed on this board but our experiences are not consistent. I would be interested in any other posters with April or May reservations through David's that receive an email.

Oh, I fall in the camp that all three parties should take a reasonable hit rather than the points owner bear the entire burden; unless, of course, you can re-rent the points and solve the problem.

Marty

Last edited by mditkof; 04-01-2020 at 01:43 AM.
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Old 04-01-2020, 03:41 AM   #165
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first poster asked if
Quote:
Originally Posted by kzrooster View Post
Rabbit trail, thread drift...

We look at DVC strictly as a timeshare. A way to save a little money on future vacations. Any and all perks are just that, perks. Like finding Mouseowners.
Ok' I rambled, rude . My point was trip insurance will not protect you from this event.
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Old 04-01-2020, 03:55 AM   #166
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Originally Posted by mditkof View Post
That is just not accurate from my experience earlier today. I exchanged emails with one of David's people today for an April 25th reservation (I am the points owner) and they are not asking for money back and have asked if I can work with them on the same scenario that we did for the Hurricane last year. This is completely different than some of the other posters -- as such, I am at a loss as why the different approaches.

Seems that David's group is getting slammed on this board but our experiences are not consistent. I would be interested in any other posters with April or May reservations through David's that receive an email.

Oh, I fall in the camp that all three parties should take a reasonable hit rather than the points owner bear the entire burden; unless, of course, you can re-rent the points and solve the problem.

Marty
Your experience is very similar to mine. I had rented out in March starting just before the closures.

I made first contact offering to refund or rebook. Davids replied saying owner would prefer a refund and asking if I could do that or would work with them to rebook. I was peeved to be charged by Pay Pal and also lost out on the exchange rate, so it ended up costing us a bit more in refunds.

I was asked directly by someone if they could rent half my points, which I did. Davids have the rest to re-rent. Weíll see what happens.

Main lesson Iíve learned is that the money stays in US$ in PayPal until the renter checks in, whether a private rental or through Davids. And I added a clause to the contract I used to cover what happens in a similar situation.
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Old 04-01-2020, 09:36 AM   #167
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Originally Posted by jds63 View Post
first poster asked if

Ok' I rambled, rude . My point was trip insurance will not protect you from this event.
Itís all good. I ramble too.
We almost always buy trip insurance for our trips. Weíve been fortunate lately that itís covered most of our potential losses. Youíre right that it doesnít cover everything.
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Old 04-01-2020, 09:41 AM   #168
mditkof
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Originally Posted by kzrooster View Post
Itís all good. I ramble too.
We almost always buy trip insurance for our trips. Weíve been fortunate lately that itís covered most of our potential losses. Youíre right that it doesnít cover everything.
I read the Travel Insurance Policy on the DVC website. It doesnít seem to explicitly cover a closing because of a pandemic but it does cover a cancellation because of quarantine of a traveler.

Seems that having a friendly doctor might be a good idea.

Marty
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Old 04-01-2020, 09:42 AM   #169
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Originally Posted by mditkof View Post
That is just not accurate from my experience earlier today. I exchanged emails with one of David's people today for an April 25th reservation (I am the points owner) and they are not asking for money back and have asked if I can work with them on the same scenario that we did for the Hurricane last year. This is completely different than some of the other posters -- as such, I am at a loss as why the different approaches.

Seems that David's group is getting slammed on this board but our experiences are not consistent. I would be interested in any other posters with April or May reservations through David's that receive an email.

Oh, I fall in the camp that all three parties should take a reasonable hit rather than the points owner bear the entire burden; unless, of course, you can re-rent the points and solve the problem.

Marty
Frequent user of David's to rent our points. Just refunded 4 renters for March and early May trips. In each case David's email said that they were refunding their 30% as well.

Regarding the cancel process - when the virus hit I did email the renter's and copied David's. Renter's all replied directly to me asking to cancel. I emailed back instructing them to let David's know. Got an email from David's the next day with the cancel request.
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Old 04-01-2020, 09:46 AM   #170
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I had not ventured on to this thread because I was fretting and sharing my tale of lost money due to points DVC won't return to me on another thread. I honestly never even considered what a DVC Broker is dealing with right now.

I know I'm stating the obvious, and I've said this in other threads, but due to the timing of the closures and how owners used their points the burden of potential lost points is squarely falling on those that have April, June and August UYs.

April -- only if they booked a reservation at the very end of their UY (current or banked points)

June -- if they booked a reservation for someone during the last four months of their UY (current points or banked points)

August -- if they booked a reservation for someone during the last four months of their UY using banked points (current points were bankable up to March 31)

DVC seems to have taken a pretty hard stance on two things.

1) 2018 banked points will not be rebanked into 2020 even though no one can travel on the points (although one MO said that DVC unbanked points for them)

2) if a reservation is cancelled and used current UY points and you are past your banking window (squarely hitting June UYs), you can't bank those points forward, again even though you can't use the points for a stay.

August UYs can at least salvage current UY points because their banking window closed yesterday. However any banked points they might have planned to use will expire by July 31, 2020 -- giving them 2 months to use those points assuming the parks open on June 1st.

Comments stated earlier in this thread about "owners getting their points back from Disney" was said before we understood the gravity of closures. Now we now know that DVC is not making owners whole, not by a long stretch, depending on your UY and how an owner used their points. Owners are losing points. No question about it.

I know I have been involved in many discussions here on the MO board where David has piped on to the thread and said "see this is why you should use a Broker!!" "We protect the renter better than a private owner!!" "This is why owners should rent their points with us, we help to protect you and take on the risk" Who could have predicted a global pandemic? No one, but it is here, and every business in the world is being affected.

DVC Brokers IMO need to step up to the plate and figure this out without burdening DVC owners. DVC Brokers built the model and they should have the money in the bank (or some type of insurance on their business) to deal with this mess. Brokers collected their money IN FULL at the time of the rental, and they haven't paid out the money IN FULL to DVC owner.

Brokers made countless profits over the years, way - way more than my piddly little rentals. They also influence the entire private rental market because they keep the perception of rental prices suppressed to their benefit. It may be an unpopular view, but like all small businesses out there, they need to figure this out. My husband and I are probably going to have to a small business loan to stay afloat. You know what Brokers might have to do the same.

I feel the way I feel above because that's what I'm doing as an individual owner. I have made "profits" over the years because I DON'T use a broker to rent my points. Rental money went to me - every last cent. I don't live extravagantly so even though my personal business might be in trouble I look at the profit I made in the past on my DVC rentals and can do what I think is "right" and refund the money to my renter -- even if DVC won't refund my banked points.

If I had rented my points through a broker I can tell you right now that under no circumstance would I be giving back any money. I'm sorry my feeling is that the burden to make this right is on the Broker. May not be a popular opinion, but that's how I feel.
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Last edited by cmrdgrs; 04-01-2020 at 10:05 AM. Reason: typo
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