Renting Points vs. Transferring Points

[DVC Friend]

I'm a new DVC owner and I recently listed my points for rent with David's. I also heard that some people transfer their unused points, too. It was recommended by David's that I save my points from this year and put them into next year for a more premium rental, as this year's points will expire soon if I don't bank them into 2021. Does banking them now as opposed to listing them for a transfer first and then banking them sound like the right thing to do? Also, can anyone give me any other company names that I can work with besides David's? Thanks and please forgive me if I don't make much sense yet

 

[Sandisw]

You can not transfer points once banked so that has to happen prior to doing that, Once you do, they can only be used for reservations you make. The benefit of the transfer is that your part is over quickly and the other owner has control of them But, since transfers can’t be reversed, and you are not supposed to be paid, DVC will not get involved if there is an issue, I only do transfers for 100% payment upfront so you have to find someone comfortable with that

One other company that does do rentals is www.dvcstore.com.

The other option is to rent yourself, but be sure to understand everything in terms of your contract and terms.

Things are different now with Covid and it’s not as simple and easy as it was before so you want to be sure to cover all aspects..,or, I’d you go with a company, you know what to expect,

For example, with David’s new contract, if resorts are closed, or any other event determined to be a force majeure must refund the money, regardless of whether or not the points you get back,,,if you do...are usable for you

Just be sure you ask any and all questions!

 

[DVC Friend]

Thank you so much - this is really helpful! I didn't quite understand the rules and your post really helps

 

[suebeelin]

I'm a new DVC owner and I recently listed my points for rent with David's. I also heard that some people transfer their unused points, too. It was recommended by David's that I save my points from this year and put them into next year for a more premium rental, as this year's points will expire soon if I don't bank them into 2021. Does banking them now as opposed to listing them for a transfer first and then banking them sound like the right thing to do? Also, can anyone give me any other company names that I can work with besides David's? Thanks and please forgive me if I don't make much sense yet

It might be more useful to use the rent/trade board on your own. You can both transfer or rent without the middle man, and set your own terms.

As mentioned, you cannot transfer banked or borrowed points. However, you can transfer current use year points and the new owners of these points can then bank these points (once they have it in their account).

Transferring is much easier after you coordinate payment. You will need to both be on the phone call to MS at the same time, then MS asks for both your member id’s. Viola. Transfer done. Nothing else to do. No worries about the future or whether it there are any hiccups. Bush-bye points.

However, transfers can only be done once a use year and only between DVC owners. This means if you transfer only part of your points, then you CANNOT transfer again to someone else. This rule is not my favorite but it is what it is... I’ve only transferred once in my life (after 9 years of ownership) and only a few weeks before my banking date.

With renting, you’ll need a contract stating all terms (David’s or another rental company can do the contract but it’s very simple). A rental company also finds the renter for you.

However, whether or not you use a rental company or you rent out yourself (via the rent/trade board), you still must do the following:
1. Book the rooms
2. Input renters info (names, address, bdays of children, etc)
3. Call in magical express, etc
4. Call in room requests or meal plans (if any)
5. Wait for the reservation. To occur. I always stress a little until the vacation is over- I worry about hiccups.

I believe David’s is currently not as much a sure things due to the pandemic (please see above post regarding new pandemic rules).

I worked with my renter in May to re-rent her points to new people. She was willing to take a small loss and pass the savings into new renters, whom I found via the rent/trade board. It was very quick (surprisingly).

David’s may not be as flexible for both the owner and renter.

good luck!!!

 

[Lva5]

It might be more useful to use the rent/trade board on your own. You can both transfer or rent without the middle man, and set your own terms.

As mentioned, you cannot transfer banked or borrowed points. However, you can transfer current use year points and the new owners of these points can then bank these points (once they have it in their account).

Transferring is much easier after you coordinate payment. You will need to both be on the phone call to MS at the same time, then MS asks for both your member id’s. Viola. Transfer done. Nothing else to do. No worries about the future or whether it there are any hiccups. Bush-bye points.

However, transfers can only be done once a use year and only between DVC owners. This means if you transfer only part of your points, then you CANNOT transfer again to someone else. This rule is not my favorite but it is what it is... I’ve only transferred once in my life (after 9 years of ownership) and only a few weeks before my banking date.

With renting, you’ll need a contract stating all terms (David’s or another rental company can do the contract but it’s very simple). A rental company also finds the renter for you.

However, whether or not you use a rental company or you rent out yourself (via the rent/trade board), you still must do the following:
1. Book the rooms
2. Input renters info (names, address, bdays of children, etc)
3. Call in magical express, etc
4. Call in room requests or meal plans (if any)
5. Wait for the reservation. To occur. I always stress a little until the vacation is over- I worry about hiccups.

I believe David’s is currently not as much a sure things due to the pandemic (please see above post regarding new pandemic rules).

I worked with my renter in May to re-rent her points to new people. She was willing to take a small loss and pass the savings into new renters, whom I found via the rent/trade board. It was very quick (surprisingly).

David’s may not be as flexible for both the owner and renter.

good luck!!!

Just note that the OP won't be able to use the rent/trade board unless he buys a membership because he hasn't been a member for >6 mos. This is an issue I'm dealing with right now...

 

[starry_solo]

There is a company that handles transfers too, for a fee...

 

[Lost boy]

Last time I transferred points to another member only I was on the phone with member services, maybe 18 months ago. I had the other members name and member #, made the transfer, called the other member afterwards where he confirmed the points in his account and we then completed payment through pay pal. I've neve had to do a conference call and I've done transfers every other year since owning.

 

[gdrj]

Personally we always bank, somehow we always use and normally have to borrow from future year. Only due to pandemic do I have some points for my Current use year, and will probably still use them up b4 banking