Tips for renting points out.

[num]

I've read some of the stickies I found but most seem to be geared towards folks paying to rent points. What about people who want to rent points out. What are the risks, what is the process ?

I went through this and it's totally possible I missing it https://www.disboards.com/threads/r...ransfer-policies-updated-august-2021.3734006/

I'm new to DVC and don't even have a contract yet. However, it's not impossible i'd want to rent out my points one year, so i'd like to be prepared.

 

[macman123]

Scroll further down that link. It says what you need to do.

But you have more control renting the points than a renter.

You retain control of the booking.

Personally, I have a contract, I don't take any payment until I have made the booking. Then when the booking is made I sent the confirmation to the renter and then take payment within 7 days.

If they don't pay and you are outside of 30 days of the reservation you can cancel it.

Ive never had a booking within 30 days, but I would only book once payment is made.

 

[Sandisw]

The few times I have rented to strangers, my contract was via email. I priced my points below market value because my terms are pretty strict.

I require payment within 48 hours of making the booking, and won’t book something within the 31 day mark.

Once booked, I offer no changes or modifications…thus why I rent for less.

But, to be fair, I have enough family and friends who I have rented to that I don’t have to do it with others.

Having said that, the biggest aspect is to be clear on all the terms with the renter, Will you allow them to cancel and receive any refund? Will you change the dates pending availability? If so, be sure to include the timeframe of your points ahead of time so they know that.

Will you change names so others can go In their place? Would it require a new contract?

What happens for emergencies out of everyone’s control? Like weather or closure like happened during the pandemic.

I know my current contract will include that…it never had before. I updated my terms so now If resort closes, I will offer full refund, regardless of what happens with my points.

If there is a hurricane, snowstorm, etc. that prevents someone from actually getting there, then Ill give a 50% refund..

The good news is that as the owner, you can decide what works for you. There are many owners who are much more flexible than I am, but as I said, I don’t do a lot of it because I don’t need to.

The biggest piece is that both you and the renter know upfront all of the terms so that both parties are on the same page!

 

[Disneypapa]

Using a Rental Contract is a absolute MUST!!!!

 

[Jimmy Geppetto]

The few times I have rented to strangers, my contract was via email. I priced my points below market value because my terms are pretty strict.

I require payment within 48 hours of making the booking, and won’t book something within the 31 day mark.

Once booked, I offer no changes or modifications…thus why I rent for less.

But, to be fair, I have enough family and friends who I have rented to that I don’t have to do it with others.

Having said that, the biggest aspect is to be clear on all the terms with the renter, Will you allow them to cancel and receive any refund? Will you change the dates pending availability? If so, be sure to include the timeframe of your points ahead of time so they know that.

Will you change names so others can go In their place? Would it require a new contract?

What happens for emergencies out of everyone’s control? Like weather or closure like happened during the pandemic.

I know my current contract will include that…it never had before. I updated my terms so now If resort closes, I will offer full refund, regardless of what happens with my points.

If there is a hurricane, snowstorm, etc. that prevents someone from actually getting there, then Ill give a 50% refund..

The good news is that as the owner, you can decide what works for you. There are many owners who are much more flexible than I am, but as I said, I don’t do a lot of it because I don’t need to.

The biggest piece is that both you and the renter know upfront all of the terms so that both parties are on the same page!

Offering a 50% refund for cancellation due to snow storm etc. seems generous. You’d have those points stuck in a holding account as they would likely be cancelling on the day of arrival.

 

[Sandisw]

Offering a 50% refund for cancellation due to snow storm etc. seems generous. You’d have those points stuck in a holding account as they would likely be cancelling on the day of arrival.

It is. But I go enough to make use of the points and I have included the documents needed to receive it.

My other terms are pretty strict. After 48 hours I make no changes or modifications so it’s a trade off I am willing to make.

As I said, I don’t rent a lot but even with that refund, I’d end up with what I take from family or friends when I am not part of the group. So I don’t really lose.

 

[Taraleigsmom]

Sandi, would you have a copy your contract available - I posted to rent out points for the first time - looking for direction .

 

[Sandisw]

Sandi, would you have a copy your contract available - I posted to rent out points for the first time - looking for direction .

I am willing to share. I’ll post when I get home!

 

[Taraleigsmom]

thank you !!!!

 

[howardlee2]

yes I agree with the no changes but things happen. I have made full reservation changes for recent hurricanes(2018 or 19 I think) and all last year during covid. while I didn't have to I felt that those goodwill gestures go far towards reputation and I have had many repeat renters. Fortunately this isn't a business for me and I will be renting out less points now that I have grand daughters that I can enjoy Disney with.

 

[MARCIAKAZ]

The few times I rented, I used a contract which stipulated no refunds, period. I included that I would be flexible with changes including attempts to secure a different reservation for the same or fewer points. No one took me up on that, but one renter dropped/added a different guest - twice. That was pre-covid times..so now I would be sure to consider that type of risk, which never occurred to me before.

 

[gharter]

We rented points this year for the first time due to excess points from our cancellations last year. We went through Davids as I didn't want to worry about any of the admin hassle and they made it very easy. I know some have been upset with their policies for renters cancelling, but we couldn't be happier with the experience. Rented twice and no issues. Not looking at doing it again, but you never know.

 

[wench]

I’ve rented out a couple of times using David’s. I found the most success in booking a very desirable trip & then renting the trip, rather than just putting a lump sum of points out there. For example, I had a 7 night stay in a Jambo House value studio over xmas. That was gone within 30 mins of posting it on the site.