......(snip)....... Note how any rental agreements should be in writing.
Interesting language in there as well regarding members use of the club, would seem to make it extremely difficult for DVD to limit resale buyers from full club use, but that's another story...........
Again, not a lawyer and haven't done "serious study" of all the documents. That said, I agree with you about limits to resale buyers - haven't found anything that indicates that DVD/DVC can differentiate between direct and resale owners as far as making reservations or otherwise utilizing the Club. In other words, it looks like an owner is an owner is an owner as far as making reservation rules go. They can't restrict an owner to his/her home resort just because the points were purchased via resale rather than direct. They can't establish different booking windows for resale buyers, either.
But they do have options. For example, what if they established a new club? They put the points they own into the new club and entice existing owners to put their points into the new club, too. All points purchased for new DVC resorts would go into the new Club only. (So none of the "old" club members could book the new DVC resort because no new resort points would be available to the old club). Disney could design the new club differently regarding booking windows, perks & discounts, different exchange options, fees, etc.
Of course, new club members could only make reservations for the existing DVC resorts up to the amount of points transferred from the old club to the new club. So if only 5% of the BWV owners moved to the new club, only 5% of the availability would be available to new club members. But the new club could arrange for "inter-club reservations", perhaps with a shorter booking window. (Old club members could book new club inventory a month or two after existing club members subject to availability and vice versa).
Setting up something like this successfully would probably turn on the number of existing Members that would be willing to transfer points into the new club so that the purchasers of the new resort(s) would have choices. Maybe if DVD did this starting with the Riviera and that resort turns out to be very popular, it would work, since no one in the existing club could book there with old club points. (Of course, Riviera buyers couldn't reserve elsewhere, either, unless existing members transferred their points into the new club, so again, getting this all set up could be a real challenge). Lots of legal issues to work through and this is just one example of what Disney could do if they were motivated to do so.
Not sure if the potential benefit (increased direct sales) of any "new club" would be worth the cost, hassle & angst of establishing it.