DVC Point Rental Primer

[NC140]

Hi all,
Great site, I read a ton here about the points system (in an attempt to try not to ask a stupid question) and I think I get the gist. Also, I personally could care less about the "no refunds" clause-par for the course in this type of transaction IMO.
BUT- What I don't know is whats the best way to go about buying the points. I want 7-9 days at the BWV for the first or second week of Dec '08. Should I just throw that up on the board? or do I have to hunt down a posting for BWV, as you can't just buy up "loosie" points as I originally thought. I was thinking I might try the meal plan, do I need to state that at the outset as well?
I would like the extra space of a "condo" type room, but this is way harder work out then booking at the Poly'. Is it worth the hassle? Thoughts, comments, snide remarks?
Cheers

 

[chalee94]

BUT- What I don't know is whats the best way to go about buying the points. I want 7-9 days at the BWV for the first or second week of Dec '08. Should I just throw that up on the board? or do I have to hunt down a posting for BWV, as you can't just buy up "loosie" points as I originally thought.

yeah, "points" won't do you any good as you can't use them as a nonmember - you are renting a reservation.

at this point, you will need to find someone who has already booked the nights you are looking for (either intending to sell it in the first place or an owner whose plans have changed.) it's a bit late to be looking for a dec reservation now - especially for a smaller DVC resort like BWV - the waitlist for dec started in february.

I was thinking I might try the meal plan, do I need to state that at the outset as well?

yes, the owner will have to book things like the meal plan (DDP) or ME for you.

I would like the extra space of a "condo" type room, but this is way harder work out then booking at the Poly'. Is it worth the hassle? Thoughts, comments, snide remarks?

i hated the lack of control (and i also had trouble getting an owner response the first time due to starting late), so i bought a small contract.

if you don't go to wdw all the time, that's not a great option for you, but i agree that you do pay a price in nonfinancial terms even if renting DVC gets you a cheaper price than CRO. (BTW, CRO inventory is different than what is available to owners on points, so if you can afford a higher price for condo-style accomodations, that might be your best hope for finding availability at this point...you'd also get normal xcel policies and daily housekeeping.)

 

[JimMIA]

I was thinking I might try the meal plan, do I need to state that at the outset as well?

No, you do NOT have to make that decision at the outset. You can make it up to about 3-4 days prior to your arrival, although I certainly would not recommend that a renter wait that late.

As stated above, YOU can't make arrangements for DDP or DME. Those have to be made by the owner, through MS. You should not delay those decisions until the last minute, because you are depending on a) being able to get in touch with the owner promptly, and b) them being available to make the calls for you.

I would set things up as soon as you're sure you want DDP. Things left to the last minute tend to fall through the cracks...especially if you are depending on someone else.

 

[elgerber]

Ok, so I have the rental paid in full from the people who are renting from me. I have added the dining plan and DME to their reservations. Is there anything else I need to make sure to do before their stay? Then at check in they just show up and check in as we would if we were staying??

Thanks!

 

[NC140]

chalee94 & JimMIA,
Thanks for the info. Looks like a moot point for this Dec. I will talk it over with the family and see if they want to wait 'till next Dec or forge ahead with a conventional reservation.
If we wait, could I put it on the board as looking for Dec '09? If I understand the system, some member may already know that next year is a no-go for them. Does anyone strike a deal that far in advance- but not actually book until 2/09?
Cheers

 

[chalee94]

Ok, so I have the rental paid in full from the people who are renting from me. I have added the dining plan and DME to their reservations. Is there anything else I need to make sure to do before their stay? Then at check in they just show up and check in as we would if we were staying??

that's sounds like it's all covered to me...

If we wait, could I put it on the board as looking for Dec '09? If I understand the system, some member may already know that next year is a no-go for them. Does anyone strike a deal that far in advance- but not actually book until 2/09?
Cheers

i would wait till at least oct or nov before i went looking for an owner at the resort i wanted to stay at...who i would need to find by january (11 months in advance of check-in) to make the reservation.

that's JMO, but if you find someone early, i guess that could work as well...

 

[TIGGER81582]

With all of this information it makes me feel a lot safer with making deals on this site.

 

[jimmaher69]

Great Thread!

 

[divehard]

Thanks for taking the time to pprepare this primer.It pays to be informed before transactions

 

[jeannebrown]

You can also find distressed points in the $8.00 to $9.00 range, but you must be very careful that these points won't expire before your travel dates, and are not Reservation Points which can not be used for DVC vacations.


...[/snip]

Hope this is helpful and appropriate to post on this thread.

-Tony

I'm new here, so please be patient with me. What's the difference between regular ole rental points and Reservation Points? What types of points are needed for a DVC vacation? I'm confused.

 

[JimMIA]

I'm new here, so please be patient with me. What's the difference between regular ole rental points and Reservation Points? What types of points are needed for a DVC vacation? I'm confused.

Regular points are what you use for a DVC stay.

Reservation points are points which are exchanged for non-DVC options. If a cancellation occurs with Reservation Points, they don't revert back to regular DVC points. They remain Reservation Points, so they can't be used for a DVC stay.

What Tony was talking about is that whenever you see points advertised at a very low price, there is some reason for it. Those points probably carry some significant restrictions (short validity timeframe, Reservation Points, Holding Account points, etc.). You get what you pay for, and if the price seems too low, it probably is.

OTOH...sometimes you can get a great value if your plans happen to coincide with the restrictions on the points. For example, if you are trying to do a last-minute trip next month, points in holding account (can only be used to book <60 days out) would work fine for you...if you can get a ressie. Points that are distressed because they're past the owner's banking deadline are "use or lose" to the owner, but work fine for you if your vacation is coming up before they expire. So you have to look at all the angles.

 

[jeannebrown]

Great! That helps a lot. Thanks for the info!

 

[acellison]

What am I looking for when I go to check DVC ownership on the Orange County Comptroller website? Not sure which links to hit?!

 

[jackson190]

We have a paypal account that we have used to buy things on ebay. How do I use that to accept payment from renters?

 

[kimberh]

We have a paypal account that we have used to buy things on ebay. How do I use that to accept payment from renters?

I am verified with Paypal. You give your renter your email address that your paypal account is linked to or you get their email address, You send them a Invoice from your paypal account to their email address. It's that simple. The money will show in your Paypal account. You will need a checking account attached to your Paypal account. When you want the money, you make a transfer from Paypal to your checking account. It takes seconds on the computer then maybe a day or two for the money to show. Your checking account has to be Verified with Paypal. They tell you how to go through the process.

It's been a few years since I have done this, but I believe thats all there is to it. The main thing is to make sure you have a checking account attached to your paypal account. That way, to receive the money, it doesn't cost you an additional fee. You will already be paying 2.9% on the transaction.

If you decide to leave the money in Paypal for any time frame, they pay you interest, then send you Form 1099 through your email at year end.

 

[Modeltrf]

I think this is a good thread to bump up so it doesn't get lost.

 

[jones0333]

thank you for the awesome info.

 

[hmdelf]

bumping. great info

 

[The Red Head]

I was trying to read through, but some of the posts were so long I might have missed what I was looking for so forgive me if this has been covered. Does paypal charge a fee? Their rules state if it is for personal use they do not, but if you are purchasing something they do. So I was wondering if the transfer of money for renting DVC caused them to charge a fee. Thanks

 

[elgerber]

I was trying to read through, but some of the posts were so long I might have missed what I was looking for so forgive me if this has been covered. Does paypal charge a fee? Their rules state if it is for personal use they do not, but if you are purchasing something they do. So I was wondering if the transfer of money for renting DVC caused them to charge a fee. Thanks

I was charged fees on my rental last year.