As an owner, one thing this has taught me: If I do rent out my points, I am renting out specific points that can be used for a reservation and not necessarily a specific reservation. Renting those specific points may be conditioned on initially acquiring a specific reservation...but you are buying the points, and not the reservation those points are backing.
i.e. you get "X number of Feb 2020 use year points, that can be used for a reservation between now and Jan 31, 2021. If you contact me 2 weeks before the banking deadline, i'll bank them in to be able to be used for a reservation from Feb 1, 2021 to Jan 31, 2022. Your reservation at ABC Resort for X sized room for Y-Z dates is already booked. You can have one courtesy rebooking, subject to availability. Additional rebookings cost $20 each, subject to availability. No changes within 45 days of check in, Points not used before they expire are forfeit and no refunds will be provided" Something like that. At this point, I would also be sure to include a resort closure clause, where i'll do a free rebook if the resort is closed through no fault of the owner or renter...subject to points usage restrictions previously established...giving the renter the same flexibility that DVC gives me to use those points...banking deadlines, waived holding, extended usage, etc...again, all subject to availability.
From an owners perspective, the purpose of rentals is that I have points that I either can't use or don't want to use. For renters, the purpose of rentals is discounted rooms at Disney Resorts, but there is some aspect of "you get what you pay for"...if you want full flexibility, return policy, refunds, daily housekeeping, etc. then you have to pay full retail. Those privileges are built in to the price of those accommodations.
We as owners took that same bargain of "you get what you pay for"...We get these rooms at a significant discount, while also accepting significant limitations. From my perspective, if renters want to participate in that system, then they should also be taking on the risks/limitations of that system. Caveat Emptor...buyers should be responsible for knowing what they are buying before hand. Unless an owner misleads a renter about what they are buying, then it is up to the renter to know what they are buying into and it's limitations. Renters aren't buying a hotel room. They are buying one-time-usage of a timeshare.