What are private owners doing for their renters?

[suebeelin]

Just wanted to see what some of the private owners are doing out there for their renters.

On my side, I've moved my renter's reservations twice. However, my renter is using points that expire on January 31, 2021. I moved their reservation from May to October, and again to January. They are scared of going in January.

Since my points expire at the end of January (Feb use year, all banked), I am offering to transfer the points to RCI (so they will have two years to use the points, but under the DVC rules). Told them that they will need to know by November what they would like to do with the January reservations. I have never used RCI, so I could not give them guidance on the properties available under RCI or how it works. I thought this was a good option, as it would be what I would do for myself if I were in their situation with these particular points.

They have an older couple who will be traveling with them, which is their main concern. I was able to procure a 2bd at BCV, which is a vied for property. I'm hoping they can go and enjoy, but life in the time of covid has turned everything upside down.

I don't know what else I can do for them. I'm trying to think about possible options and what I would want someone to do for my if the situation was reversed.

What have owners been doing for their renters, particularly if they have expiring points? Any guidance much appreciated!!

 

[Sandisw]

From my understating, Per RCI rules, those reservations can not be rented, so I would be sure to check into that before offering that option.

 

[ldo]

Are you comfortable offering the points as a rental to someone else at a discount? Say, you rented to them at market rate of $17 and you offer on disboards for $14 and refund them them the lower amount?
I don't think it's necessary, as you've already rescheduled 2X. But, in certain circumstances, I might consider that as an owner. Another option is to be very generous and refund them the rental amount over your annual fees. So, likely 50% rental fee refund if you're not going to use/rent them again.

 

[6bowmans]

I had Canadian renters who were concerned they would not be allowed to travel to Disney for their September trip. I refunded their money. I am fortunate as they are September UY points, and I have already re-rented half of the points.

 

[cm8]

Just wanted to see what some of the private owners are doing out there for their renters.

On my side, I've moved my renter's reservations twice. However, my renter is using points that expire on January 31, 2021. I moved their reservation from May to October, and again to January. They are scared of going in January.

Since my points expire at the end of January (Feb use year, all banked), I am offering to transfer the points to RCI (so they will have two years to use the points, but under the DVC rules). Told them that they will need to know by November what they would like to do with the January reservations. I have never used RCI, so I could not give them guidance on the properties available under RCI or how it works. I thought this was a good option, as it would be what I would do for myself if I were in their situation with these particular points.

They have an older couple who will be traveling with them, which is their main concern. I was able to procure a 2bd at BCV, which is a vied for property. I'm hoping they can go and enjoy, but life in the time of covid has turned everything upside down.

I don't know what else I can do for them. I'm trying to think about possible options and what I would want someone to do for my if the situation was reversed.

What have owners been doing for their renters, particularly if they have expiring points? Any guidance much appreciated!!

I honestly think you have gone above and beyond. They need to keep what they now have or cancel and lose the funds. What does your contract say?

 

[dclpluto]

You did your part. Changing it from May was of course a no brainer since the resorts were closed. Than again you changed it again from October to January the farthest out you could.

 

[mort1331]

I have taken a 50% deposit, normally full payment, then balance at 40 days out. If they want to cancel I will try to rerent but they know that 50% is gpne if I cant. That way my feesnare covered and if I loose my points we both hurt a little. All my renters were ok with this, but I have had the same renters for a few years now.

 

[Maddiesmum03]

I have taken a 50% deposit, normally full payment, then balance at 40 days out. If they want to cancel I will try to rerent but they know that 50% is gpne if I cant. That way my feesnare covered and if I loose my points we both hurt a little. All my renters were ok with this, but I have had the same renters for a few years now.

At that 40 days out point, is it too late for you to salvage those points by converting to RCI for your own use, in lieu of the 50% rental fee you will be losing? I’m not sure of the intricacies of RCI exchanges.

 

[ldo]

good point for others when taking final payment. I think 45+ days is the time of deposit for non-restricted RCI points.

 

[suebeelin]

Thank you- I will offer to re rent the points. It will be less than their going rate back in early June 2019....

they were on the 11mo mark. I feel so bad.

 

[disland7]

Thank you- I will offer to re rent the points. It will be less than their going rate back in early June 2019....

they were on the 11mo mark. I feel so bad.

This whole time - there are no winners. It just shows what a kind person you are to try to come up with any solution for them.
I too have renters that are uncomfortable going this fall (to VGC- so yeah understandable) we have cancelled and will bank for next year.

 

[suebeelin]

Are you comfortable offering the points as a rental to someone else at a discount? Say, you rented to them at market rate of $17 and you offer on disboards for $14 and refund them them the lower amount?
I don't think it's necessary, as you've already rescheduled 2X. But, in certain circumstances, I might consider that as an owner. Another option is to be very generous and refund them the rental amount over your annual fees. So, likely 50% rental fee refund if you're not going to use/rent them again.

i think points are going for closer to $12 right now? I don’t know....

 

[mort1331]

At that 40 days out point, is it too late for you to salvage those points by converting to RCI for your own use, in lieu of the 50% rental fee you will be losing? I’m not sure of the intricacies of RCI exchanges.

Sorry not sure about rci as i dont use them ever. Its so I can work with them or bank my points.

 

[starry_solo]

My private owner cancelled all reservations, got points returned and banked and refunded me all but 20% which is what we agreed on

 

[Boardwalk III]

I had a situation where people rented pts from me 7 months ago for a reservation this June. In May some of the family decided they weren’t comfortable going (this was before we knew the parks weren’t going to open until July). Due to some of the DVC waivers I could bank/unborrow a number those points into next year so refunded about 75% of their money. However there was a portion that had already been banked from 2018 which I could not bank for future use.

I offered to split the loss of this portion with the Renters 50/50 (which was about $600 each) and told them I would also try to rent the points out to recoup their losses. There is still a market for renting pts! I was able to recently rent out most of the remaining points that are going to expire this November (to 4 different parties for short stays). Thus I’m going to be able to recoup about 80% of the original loss and will split that evenly with the original renter. It took a bit of work on my end but I felt it was the right thing to do, and they were very appreciative.

 

[MilwaukeeMom]

My daughter’s private owner couldn’t do anything as resort is open and points expire on 7/31. He got full payment and she got nothing. We will never rent again I think there was something we could have done earlier, but it’s too late now. He kept telling her he couldn’t do anything.

 

[Brett Wyman]

I moved my renters dates at their request. I offered them a refund but they just wanted later dates. Their original request to move was after by UY date, but they were understanding and chose a new date.

 

[LYSE]

I modified a reservation twice then when they finally called it I re rented the points at a lower rate and gave a partial refund, per my contact i didn't need to refund anything and they were okay with that but I wanted to do something for them.

My other rental went through despite the current situation.

 

[starry_solo]

My daughter’s private owner couldn’t do anything as resort is open and points expire on 7/31. He got full payment and she got nothing. We will never rent again I think there was something we could have done earlier, but it’s too late now. He kept telling her he couldn’t do anything.

With the points expiring, what do you expect to be done?

 

[MilwaukeeMom]

It would have been nice if my daughter had received the same information I learned here on this forum. Earlier in the year there were other options. Even now there may be other options but the owner doesn’t want to be bothered. We are annoying him. Renting points from an unknown party is a huge risk. You have zero control over the reservation I’m sorry that many of you owners rent out your points and have to go through all this mess too. I applaud those who go above and beyond to help someone.