Transferring points: Just want to make sure I have this right

[rnorwo1]

Hi All,
We have never rented or transferred points but cannot use our points this year, so I just want to make sure I have this right after reading everything I could find. If I transfer points to another member, those points then become theirs, and I would not be responsible for making reservations or for any damage they may do during their stay, correct? I guess my worry that I'm misunderstanding is because I don't see why anyone would rent rather than transfer if that were the case (other than being able to rent to non-owners). I also understand the limit in transferring/receiving points in the same year. Is there anything else I'm missing that should sway me away from transferring toward renting?
Thanks for any guidance!

 

[_auroraborealis_]

A few thoughts:

1. Officially, transferring points between members in exchange for money is against the terms of your ownership agreement. Points rental is not. I mention this because there seems to be concern about the terms.

2. Transferring requires getting both members on the phone with MS to do the deed.

3. Owner being responsible for renter damage is not a common occurrence, or you'd see 100+ page threads about it on DIS every day. You do not.

 

[Sandisw]

Renting opens up a larger pool for your points since you are renting a reservation for someone and that can be for non DVC owners.

Transferring is only between owners. Plus, there is only one in or out per UY so finding someone can take time. And you can’t transfer banked points, but can make a reservation for a renter with them.

But, once points go via transfer, you can’t get them back so if there is an issue with how yu set up payment, you are out of luck. And, since you are not supposed to receive money for it, mentioning it on the call should not happen.

I do require payment in full before a transfer, but some owners do a 50% split with the final payment as soon as they are on the phone to verify the points are there.

 

[rnorwo1]

A few thoughts:

1. Officially, transferring points between members in exchange for money is against the terms of your ownership agreement. Points rental is not. I mention this because there seems to be concern about the terms.

2. Transferring requires getting both members on the phone with MS to do the deed.

3. Owner being responsible for renter damage is not a common occurrence, or you'd see 100+ page threads about it on DIS every day. You do not.

I wasn't aware of the no-money issue, so that's very helpful. I had read about the one in or out per year, and I'm good with that. I'm not as concerned with the damage issue as the hassle of searching for availability/making reservations, potential changes, etc. Transferring just seemed so much easier. This is very helpful, thanks!

 

[rnorwo1]

Renting opens up a larger pool for your points since you are renting a reservation for someone and that can be for non DVC owners.

Transferring is only between owners. Plus, there is only one in or out per UY so finding someone can take time. And you can’t transfer banked points, but can make a reservation for a renter with them.

But, once points go via transfer, you can’t get them back so if there is an issue with how yu set up payment, you are out of luck. And, since you are not supposed to receive money for it, mentioning it on the call should not happen.

I do require payment in full before a transfer, but some owners do a 50% split with the final payment as soon as they are on the phone to verify the points are there.

Thanks, especially for the different ways to handle the money. Great info!

 

[schoen]

You also have to exchange a lot of information when you transfer. I remember being uncomfortable giving someone I didn’t know my membership number, etc. I don’t recall having to do a 3-way call with MS, as someone above mentioned, but maybe that is why I had to give the guy all my info? So he could give it to MS for the transfer. I rented 300 odd points for transfer, and while I was a bit uncomfortable with parts of the process, it went well. Everything worked out.

 

[Sandisw]

You also have to exchange a lot of information when you transfer. I remember being uncomfortable giving someone I didn’t know my membership number, etc. I don’t recall having to do a 3-way call with MS, as someone above mentioned, but maybe that is why I had to give the guy all my info? So he could give it to MS for the transfer. I rented 300 odd points for transfer, and while I was a bit uncomfortable with parts of the process, it went well. Everything worked out.

The used to let just one owner call,mbut now it requires both to be online so the CM confirms everything.

 

[rnorwo1]

You also have to exchange a lot of information when you transfer. I remember being uncomfortable giving someone I didn’t know my membership number, etc. I don’t recall having to do a 3-way call with MS, as someone above mentioned, but maybe that is why I had to give the guy all my info? So he could give it to MS for the transfer. I rented 300 odd points for transfer, and while I was a bit uncomfortable with parts of the process, it went well. Everything worked out.

Oh, yes, that would make me uncomfortable, too.

 

[4luv2cdisney]

The used to let just one owner call,mbut now it requires both to be online so the CM confirms everything.

But wouldn't both parties still hear all each others info or does the CM go back and forth privately?

I've received a transfer once and I gave the other party all my info (and money) up front. It was nerve-wracking but thankfully worked out. However, it raised my anxiety enough to keep me from doing it again.

 

[Sandisw]

But wouldn't both parties still hear all each others info or does the CM go back and forth privately?

I've received a transfer once and I gave the other party all my info (and money) up front. It was nerve-wracking but thankfully worked out. However, it raised my anxiety enough to keep me from doing it again.

I have not done one since that happened but it is a three way call, so I imagine they do. But, there is no way to get around transferring points without the receiving owner giving the other owner their membership number.

It does involve alot of trust, especially when you have to pay in full..which, I a.ways would require if I do it again…and it may mean it could be difficult finding someone.

 

[rnorwo1]

I have not done one since that happened but it is a three way call, so I imagine they do. But, there is no way to get around transferring points without the receiving owner giving the other owner their membership number.

It does involve alot of trust, especially when you have to pay in full..which, I a.ways would require if I do it again…and it may mean it could be difficult finding someone.

I think everyone is talking me into just using some place like David's, this all sounds like a headache

 

[Sandisw]

I think everyone is talking me into just using some place like David's, this all sounds like a headache

The plus with a rental, especially if you use a broker, is that you book a reservation for someone, get partial payment, leave it there and then when the renter checks in, you get the rest of your payment....unless something happens like another closure, its pretty simple.

But, the transfer gets you out of the equation once it is completed....and that can be a nice thing...but, if this is your first time doing anything, I agree that a rental may be the easier way to go!