Davids DVC: Rental reimbursement or rescheduling?

[davper]

Agree with this. The owner has risk in being able to re-use the points but was paid enough to at least cover the mf's.

Except David's is asking for that back.

 

[Nennie]

Since David's knows the UY of everyone's points, I'll be curious to hear what they are saying to those owners whose points expire this month? Or will everyone get the same form email, regardless of the status of their points?

 

[davper]

More like 50-25-25 with the renter losing 50%, the owner paying in 25% (and losing 50%) and David paying in 25% (and still gaining about 15% if the owner hasn't been paid the 30%).

Not likely, David's is intent on not losing any money. Based on the email I got, Renter loses's 100% of cash paid and given an undefined credit for a future rental. David's get's 100% plus the Owner's 100%, The owner get's less than 0%. My points will be lost because it is very unlikely that I can rent points in a 30 day window.

 

[davper]

Since David's knows the UY of everyone's points, I'll be curious to hear what they are saying to those owners whose points expire this month? Or will everyone get the same form email, regardless of the status of their points?

They get the same form mail. I got the exact same email knowing my points are not going to be rentable. That is how much they care about their customers.

 

[Brian Noble]

This is one of those Golden Rule situations. He who has the gold has the leverage to set the rules. Renters have no leverage at all. Owners have some: the 70% payment. David has quite a bit: the 30% plus the vigorish. What’s “legal” isn’t going to matter—individual amounts are not worth invoking the legal system to pursue, and even if they were the time it would take is probably longer than the lifetime of the underlying business. At that point it doesn’t matter if there is a judgement because there will be no money to pay it.

From where I sit, it’s only a matter of time before the company ( www.dvcrequest.com ) goes under. In the meantime the messaging to renters and owners has made it clear that dvcrequest isn’t voluntarily giving any more money to anyone for a reservation that Disney cancels. For renters, you are playing against the clock. If I were a renter I would try a chargeback. That means dvcrequest will never work with you again. That’s okay because there are lots of other places to spend your vacation dollars. I suspect dvcrequest fails before normal travel resumes. If that’s right, those credits are worthless, and whether or not they want to work with you won’t matter.

If I were an owner I’d keep my 70% and walk away. The chances of getting anything else seem remote. True, dvcrequest may never want to work with me again for being “unreasonable” but again in a few short months I don’t think that company’s opinion will matter.

In time, travel demand will recover, and someone will fill the market dvcrequest’s failure leaves open. That someone might even be the same principals. But I think we are a long way from that.

 

[KingRichard]

I just got the same notice. So my choice is to return the 70%, which means there will be no 30% later, or rent the points again. The money received from either won't be given to the renter. It will be applied to a future credit. These points were banked from previous year and current year with Use year of June. So they expire in 2 months from today and David's knows this. The likely hood of re-renting is zero and nil. And nil is heading for the door.

What is really Pi**ing me off and getting me really hot under the collar right now is that if I am willing to lose 300 points with nothing in return, the renter is not getting the cash. David's is keeping it to apply to a future credit for the renter. So the renter is made whole, David's is made better than whole because they are keeping all the cash, and I am bent over the barrel. How the He** is this fair for both the renter and member that they promised a couple of days ago?

I am waiting until tomorrow to respond because I really want to tell them where to go and what to do when they get there. Up to this point, I was willing to work with the renter, but David's appears unwilling to work with me.

BTW, the reservation is in 4 weeks and Disney has not canceled the reservation yet.

Same boat as you, But Davids is not keeping the money for himself! He has to pay someone for those 300 points down the road.

 

[davper]

Same boat as you, But Davids is not keeping the money for himself! He has to pay someone for those 300 points down the road.

But he does have use of that cash and collects interest until used. And the credit to the renter is undefined. It could have a shelf life and if the renter can't get the time to go before then, they get nothing and David's will keep the money.

 

[Marionnette]

Same boat as you, But Davids is not keeping the money for himself! He has to pay someone for those 300 points down the road.

This assumes that they are still around to make good on those Travel Credits they are peddling to the renters. I’m not confident that too many of those renters will actually be able to redeem them before he closes his digital doors.

 

[philbrody]

Except David's is asking for that back.

They can ask all they want. It's a request I plan on ignoring. If I can make use of the points in some fashion I'll work with the renter. it's not my intent to profit on this but also wont take a 5k+ hit based on the points I rented.

 

[KingRichard]

Please what interest? How m

But he does have use of that cash and collects interest until used. And the credit to the renter is undefined. It could have a shelf life and if the renter can't get the time to go before then, they get nothing and David's will keep the money.

Please what interest? How much are banks paying on simple account rights now? You do realize that Davids paid 1-2% on CC when he took the money? The credit to the renter is the amount of points they rented! I would hope that Davids does not say they must use those credits in the next 12 months. He needs to spread it out over a few years so he can recover some cash and points and the renter doesn't feel like they must go on vacation in 3 months.

 

[CarolMN]

........(snip)

I would love to see Disboards fire Davids as a sponsor and .........

Is David’s still a sponsor? He’s not featured on the DVC rental forum. The Timeshare store is.

David's has not been a sponsor of the Disboards since June of 2018.

 

[RNicole1]

Now that Disney is offering free dining to anyone who loses their reservations, would that apply to a room booked through David’s?

 

[Minniemoo15]

Now that Disney is offering free dining to anyone who loses their reservations, would that apply to a room booked through David’s?

No, DVC rooms are not eligible for free dining promotions.
ETA: Sorry - it looks like if you book a cash room this summer canceled DVC reservations do apply for the free dining .... I am not sure how that would work through Davids though.

What a mess all around for everyone. We have rented many times through Davids and had great experiences. I am so glad we became owners ourselves though so we now have control over our own reservations. I am also glad we picked the use year we did.

 

[davper]

Please what interest? How m

Please what interest? How much are banks paying on simple account rights now? You do realize that Davids paid 1-2% on CC when he took the money? The credit to the renter is the amount of points they rented! I would hope that Davids does not say they must use those credits in the next 12 months. He needs to spread it out over a few years so he can recover some cash and points and the renter doesn't feel like they must go on vacation in 3 months.

Every company does not allow cash to sit idle. It is put to use somehow. Wheather is is making 1% in a nightly sweep account or paying down high interest debt now and borrow later when it is needed, they are making money on that cash. The longer they can hold onto that cash, the longer they benefit.

 

[davper]

David's has not been a sponsor of the Disboards since June of 2018.

Thanks, didn't know that. I assumed they were because we talk about them all the time. When ever we bring up a vendor who competes with a current sponsor, Disboards puts an end to it quickly.

 

[heynowirv]

I'll report back as soon as I know! I don't expect them to considering they did what they were paid to do- find a member and book etc. but with this scenario maybe they feel it more politic to do so. We'll see!

My situation is a little different. I had renters for 3/11-18, and they never showed up or cancelled.I called David's on 3/13 to find out what they knew. On3/16 they got back to me and told me the renter's never went.The parks were open until 3/16 the resorts until 3/20.After going back and forth with Disney for 3 days they finally refunded 2 nights points.
I wrote to David's and told them I was willing to refund the price of the points +500. in good faith or I can make a reservation for them. So in essence it was 50% that the renters got back. They took the money but I never received a thank you ,except from David's of course.

 

[davper]

No, DVC rooms are not eligible for free dining promotions.
ETA: Sorry - it looks like if you book a cash room this summer canceled DVC reservations do apply for the free dining .... I am not sure how that would work through Davids though.

Wait, what?

 

[Minniemoo15]

Wait, what?

I was surprised too but according to DVC Fan, members with canceled reservations are eligible.
Not sure how good of a deal it is for members though... you would have to book a cash room when presumably most would have points to use up. Also, you need to purchase tickets when many DVC members are APs.

It would, however, presumably be a better deal for Davids renters instead of their “travel credit”.... that is, if they could get their money back ...

https://dvcfan.com/2020/03/29/dvc-m...sure-eligible-for-special-disney-world-offer/

 

[fsjking]

Not likely, David's is intent on not losing any money. Based on the email I got, Renter loses's 100% of cash paid and given an undefined credit for a future rental. David's get's 100% plus the Owner's 100%, The owner get's less than 0%. My points will be lost because it is very unlikely that I can rent points in a 30 day window.

Please what interest? How much are banks paying on simple account rights now? You do realize that Davids paid 1-2% on CC when he took the money? The credit to the renter is the amount of points they rented! I would hope that Davids does not say they must use those credits in the next 12 months. He needs to spread it out over a few years so he can recover some cash and points and the renter doesn't feel like they must go on vacation in 3 months.

I always laugh when I see someone says a business is keeping money to collect interest. The amount of interest gained on $5k or whatever your reservation is for over 6 months to a year isn't worth calling the bank over. Not to mention you lose liquidity that way as they are probably are going to want to lock in a term.

Also, idk about other businesses, but we are paying just shy of 3% on cc charges online.

 

[Sandisw]

Now that Disney is offering free dining to anyone who loses their reservations, would that apply to a room booked through David’s?

Good question. The key would be if the DVC owners, who owned the reservation, would be allowed to book this deal in cash for someone else,

This deal is only for a certain set of guests who had reservations during closure. It is limited to just those guest, So, a DVC owner who has a reservation for a guest or renter would need to find out if it can be booked that way,

Remember, this isn’t free and it is not being offered to members to book with their membership. They are simply allowing DVC members who had reservations during the closure, to become eligible to book a cash reservation, at the same rate as other cash guests,