Help Please! Should I transfer or rent out excess points?

[Mumof4mice]

Would you recommend renting excess points with David's, or transferring?

I rented points from David's for our WDW travel in 2019 because the resale process took longer than expected. So now I will have excess points:
........(snip)...........
Renting from David's was easy. I imagine renting through them would be the same? However, the idea of transferring points is attractive - potentially getting more than $14pp and effortless once the points are transferred.

Would really appreciate hearing your experiences with renting/transferring points. Thank you!

Edited by Mod to remove specific information

 

[maburke]

With so many that are nontransferable, you may just as well start with renting those, throwing in current points as needed to match up, and see what you’re left with to transfer.

 

[suebeelin]

I would rent instead of transferring points.

If you want market value and willing to do some work/filtering of renters, the rent board on this site is very active.

You would find a renter (easily) within a few days or even a week (if you’re picky).

.......(edited to remove specific details)...........

I had renters contact me even before the 11mo mark. The two that I chose paid before or near/at the 11mo mark to secure that resort. They are going to Disney in two weeks and change!

The extra “hassle” was 1. Drawing up a contract, 2. Arranging payment, 3. Booking rooms/inputting names/arranging ME. 4. Calling in room request or additional ME tags.

This site has a wealth of resources including contract templates.

It wasn’t a big deal.

Just an FYI. May be worth the nominal extra hassle.

 

[Frederic Civish]

David’s was great. I have used him to rent out points several times. I have also used another company which shall remain nameless because of ‘rules.’ But I never had any problem with any of them.

You will need a PayPal account to receive payment, and you will need to list any money ‘earned’ through rental on your taxes. (Bet you forgot about that one, didn’t you. David’s and others require you to file a W-9 tax form with them, so they can inform the government. Of course, part of this ‘income will be offset by your “Membership Dues” and other expenses.)

If you do the rental yourself, instead of going through an agency, you might be able to charge a bit more, for profit, and handle the ‘tax implications’ a bit differently. (Whatever that means.) But I can tell you that when you do everything yourself, you work at least 5 times as hard at it. I don’t necessarily recommend doing it yourself until you have tried once or twice with an agency. And then, EDUCATE YOURSELF very thoroughly in the process beforehand. And do beware of the rare scam artist. There are a few of them out there, but they mostly prey on the inexperienced and uninformed.

I intend to do more rentals with Davids and some others, and also do some more rentals on my own, in the future.

 

[Mumof4mice]

Thank you so much for replying!

 

[Henwen88]

David’s was great. I have used him to rent out points several times. I have also used another company which shall remain nameless because of ‘rules.’ But I never had any problem with any of them.

You will need a PayPal account to receive payment, and you will need to list any money ‘earned’ through rental on your taxes. (Bet you forgot about that one, didn’t you. David’s and others require you to file a W-9 tax form with them, so they can inform the government. Of course, part of this ‘income will be offset by your “Membership Dues” and other expenses.)

If you do the rental yourself, instead of going through an agency, you might be able to charge a bit more, for profit, and handle the ‘tax implications’ a bit differently. (Whatever that means.) But I can tell you that when you do everything yourself, you work at least 5 times as hard at it. I don’t necessarily recommend doing it yourself until you have tried once or twice with an agency. And then, EDUCATE YOURSELF very thoroughly in the process beforehand. And do beware of the rare scam artist. There are a few of them out there, but they mostly prey on the inexperienced and uninformed.

I intend to do more rentals with Davids and some others, and also do some more rentals on my own, in the future.

In my experience, David's does not file a W-9, as they are a Canadian business. Still, one should technically still be reporting rental income (less expenses, of course).

 

[Marionnette]

Would you recommend renting excess points with David's, or transferring?

I rented points from David's for our WDW travel in 2019 because the resale process took longer than expected. So now I will have excess points:
........(snip)...........
Renting from David's was easy. I imagine renting through them would be the same? However, the idea of transferring points is attractive - potentially getting more than $14pp and effortless once the points are transferred.

Would really appreciate hearing your experiences with renting/transferring points. Thank you!

Edited by Mod to remove specific information

With so many banked points, I would recommend renting. Since David's minimum is 100 points, you would have to be willing to add a few more PVB points.

Now, if you feel that you can use those banked points for yourself during the 2018 UY, then doing a transfer of the 2018 points is a possibility but as a brand new owner, it might be more complicated than you care to try. It involves a great deal of trust on the part of both parties.

 

[Frederic Civish]

In my experience, David's does not file a W-9, as they are a Canadian business. Still, one should technically still be reporting rental income (less expenses, of course).

You may be right. I actually looked and I thought I saw a W-9 from him, but perhaps I was confusing his email address with someone else (hey, I DID think that I saw him with 2 different email addresses). Anyway, now you have me curious and I'm going to have to go look.

 

[BillPA]

I don't understand, what are excess point? I never had that problem.

 

[NewbieMom]

It really depends on how much time and effort you want to put in. I've been renting out some banked points we have on our resale contract that recently closed. It's a lot of looking up availability for people, and then sometimes they're indecisive or don't get back to you before the room's gone, and you're back to square one. Luckily I don't have that much to get rid of, and going forward we plan to use all our points ourselves.

 

[Mumof4mice]

I don't understand, what are excess point? I never had that problem.

You're right. I'm sure we'll end up in perpetual borrowing mode and regret renting out the points. Might even have to add on a contract or two - wouldn't that be just terrible?!

Considering renting because I already have non-refundable bookings made for our January 2019 trip. And the contracts I bought have full 2018 and banked 2017 points.

 

[LYSE]

You're right. I'm sure we'll end up in perpetual borrowing mode and regret renting out the points. Might even have to add on a contract or two - wouldn't that be just terrible?!

Considering renting because I already have non-refundable bookings made for our January 2019 trip. And the contracts I bought have full 2018 and banked 2017 points.

You sound like me, I'm actually renting points out now from the loaded contract we bought..I'm absolutely positive I can use them BUT I have up coming vacations including ones I rented points for coming up and a cruise..so I figure I really am using them just in a different way... guess I may have to add on next year ..what a shame.

 

[jbh275]

• Rent, it's such a pain to deal with transferring. Plus Dave is great to work with. Maybe you could make an extra $100 but is it really worth it.

 

[Mumof4mice]

Update:

I checked with David's and the do not require me to submit any tax form or withhold any tax (I'm Australian). So I'm going to go with the minimal fuss option and rent with them.

Thank you everyone for taking time to answer my question. I appreciate the helpful suggestions!