Just wondering about experiences renting points

[Wallyxj]

It seems there is a good deal of trust needed to pull off these transactions. It there any advice regarding how to handle these transactions?

 

[niks81]

Renting points is a pretty easy process. Trust is definitely a factor....you should feel comfortable with the member you are working with I have rented points from a member and have also rented my own and I have never had any problems. It is really a benefit for both parties; the member is getting rid of unused time and the renter is getting a bargain vacation.

A few things to consider.....Ask for references if you feel the need. Many members have rented before and would be glad to provide them! Make sure the rental terms are stated and understood clearly....sometimes an email stating the terms is the best way to go for both parties.

Hope this helps!

 

[Cruelladeville]

Many renters use PayPal, where there is some security for both parties. Once the pts are reserved, the renter checks with MS, and then charges on their Master card, and sends thru PayPal, an online service. if the renter doesn't send the money, the ressie is cancelled, since the owner retains control of the pts. The other half of the charge should appear at PayPal at whatever time both parties have agreed upon, usually when the renter has received written confirmation from MS with the ressie in the renters name. As the person renting pts, the biggest problem for me are those who want to rent, but have no idea that I am just a regular person, and I don't have an "in" with MS. each person on this board who rents out pts will receive at least 20 replies from people who are just curious if certain days are available, in case they decide to take a trip. It's hard to sort the wheat from the chaff, so be specific what you want when you contact a person who is renting out pts.

 

[riggins]

Hi Wally-
I have rented points twice and agree with Cruella about being specific and knowing what you want. Take the time to research all of your date options and know in advance how many points you are talking about. You can then give the owner your top 5 choices. This can save you and the person you are renting from a lot of hassle and back and forth phone calls.

As far as trust in concerned, I think that you and the owner have to be comfortable. In both cases that I rented, the owner made the reservation, told me the confirmation number and faxed me the confirmation when it came in. I then sent a check for the whole amount and it has worked out just fine.

Good Luck!

 

[Wallyxj]

I've had several requests to my transfer points to another account. Am I correct in assuming that once points are transferred, the transferor loses ownership. If that is the case we got a "chicken and egg" scenario....who moves first, the transferor or the transferee. That makes for a tricky situation.
Has anyone used an escrow service and if so, what is their fee?
Wally

 

[Wallyxj]

Thanks Riggins & Cruelladeville:
I'm currently a seller and I know what you mean by separating the wheat from the chaff. Your comments make a lot of sense. I certainly would be very inclined to work with a person that prepares "the road". A potential buyer who submits several dates, provides some history or references, and includes a payment plan has a "leg up" on other potential renters.

By the way how does using Paypal provide some security?
Wally

Originally posted by Cruelladeville
Many renters use PayPal, where there is some security for both parties. Once the pts are reserved, the renter checks with MS, and then charges on their Master card, and sends thru PayPal, an online service. if the renter doesn't send the money, the ressie is cancelled, since the owner retains control of the pts. The other half of the charge should appear at PayPal at whatever time both parties have agreed upon, usually when the renter has received written confirmation from MS with the ressie in the renters name. As the person renting pts, the biggest problem for me are those who want to rent, but have no idea that I am just a regular person, and I don't have an "in" with MS. each person on this board who rents out pts will receive at least 20 replies from people who are just curious if certain days are available, in case they decide to take a trip. It's hard to sort the wheat from the chaff, so be specific what you want when you contact a person who is renting out pts.

 

[Cruelladeville]

PayPal uses credit cards, first of all, so you can "Chargeback" if one of the parties doesn't hold up their end of the bargain. Also, you can find out if the person you are dealing with has had any negative feedback reported to Paypal about the manner in which business was conducted. I have only begun using it recently, but so far it has worked well.