Lost DVC points

[dsnymnkyuncle]

There are a hundred reasons this won't work, and that's just the legal reasons.

Unexpected situations can cause out of the box thinking. It seems nobody in the USA was ready for this and responses were pretty much play it by ear. even the most of 'edgy' gaming or theory didn't result in contingency plans.

It could be there is a solution coming that wasn't seen and will work. Lets hope for some creativity, it is Disney afterall.

 

[conandrob240]

Some beaches in Florida opened last week. I know the ones near Jacksonville did (I believe that’s Duval County), but not sure about others.

Yes just Jacksonville right now, Sarasota this weekend. I’d say more around May 1

 

[Sandisw]

I know extensions are tricky, but we are in a very unique situation. I wonder if members would accept all contracts being extended by 1 year at no cost.

That requires Disney to extend the ground lease of all contracts, meaning every owner would get the benefit.

While the solution gives people an extra year of points, it would do nothing to solve the situation at hand. How to deal with loss of inventory and the glut of points now,

 

[Grumpy by Birth]

That requires Disney to extend the ground lease of all contracts, meaning every owner would get the benefit.

While the solution gives people an extra year of points, it would do nothing to solve the situation at hand. How to deal with loss of inventory and the glut of points now,

Re: the bolded above... would it, though?

With the OKW extension, some people have contracts that expire earlier and then those points get turned back over to DVC for the remaining years. Couldn't they extend the lease and only extend contracts for those who lost a year's worth of points? With the remaining points reverting back to them for that last year?

I'm not saying this is a "good" solution... just that it might be feasible?

 

[conandrob240]

That requires Disney to extend the ground lease of all contracts, meaning every owner would get the benefit.

While the solution gives people an extra year of points, it would do nothing to solve the situation at hand. How to deal with loss of inventory and the glut of points now,

I don’t think solution really helps. I have a renter utilizing 400 points that expire May 31. The extension 35 years from now (when I’ll likely be dead) wouldn’t really give me any insight into how to handle the renter situation.

 

[Sandisw]

Re: the bolded above... would it, though?

With the OKW extension, some people have contracts that expire earlier and then those points get turned back over to DVC for the remaining years. Couldn't they extend the lease and only extend contracts for those who lost a year's worth of points? With the remaining points reverting back to them for that last year?

I'm not saying this is a "good" solution... just that it might be feasible?

Technically, the ground lease extension gives all owners the right, so those that didn’t sign away that right are technically included,

That is why when someone buys an OKW with a 2042 expiration, the new owners are required to sign the quit claim deed excluding them.

We don’t yet know what Disney will do with contract in which now quit claim was signed, I am pretty sure there won’t be anything they can do to prevent those owners to still access the property

So, yes, all owners would have the extension by default, and Disney would have to get owners to waive their right to it, or they are included.

 

[CaliforniaGirl09]

Full disclosure I had an April reservation that was cancelled--some of my points were borrowed and returned, but I'm in line to lose about 33 points. In other words, I have skin the game

The best suggestion I've seen in these threads is to create a special pot for the points that could not be banked with a time limit and or restrictions. I can't find it now, but I thought this was a great idea. Kind of like a special holding for those of us with UY that didn't have an opportunity to bank our points. April and June, I think?

 

[Sandisw]

Full disclosure I had an April reservation that was cancelled--some of my points were borrowed and returned, but I'm in line to lose about 33 points. In other words, I have skin the game

The best suggestion I've seen in these threads is to create a special pot for the points that could not be banked with a time limit and or restrictions. I can't find it now, but I thought this was a great idea. Kind of like a special holding for those of us with UY that didn't have an opportunity to bank our points. April and June, I think?

Yes, DVCM could get around the rule of late banking, and even expired points by giving those people access to OTU points over a series of years,

So, say someone loses 100 points, they allow you to access 25 extra points every UY at the 7 month mark for the next 4 years,

It would certainly spread them out and allow them to plan for the implant as they would know exactly how many points were in play.

 

[bashuck]

Not lost anymore. That email is great news for those losing points but will make people need to get in the bell to make normally easy reservations.

 

[swong4824]

Interesting update we got today from a DVC email:

• We know that some Members had reservations for Disney Vacation Club resort stays during the closure period using points that are set to expire. 2019 Use Year points for April and June that are set to expire in 2020 and that were used for these reservations will be extended for one year from the current expiration date. 2018 Use Year points for April and June that were banked into 2019 and used for these reservations will be extended for six months from their current expiration date. Please note this temporary policy only includes expiring points that were used to book a stay between March 12 and the end of the closure period and that involve a reservation cancelled after February 29. In addition, to better support Member availability, Disney Vacation Club will not extend the life of our expiring developer points.

• In light of this and to help with resort availability in the coming year, beginning today Members who want to borrow points to complete a reservation will temporarily only be able to borrow up to 50 percent of their future Use Year points per contract, as permitted by your Home Rules and Regulations. Doing this will help manage inventory and accommodate more Members who want to schedule their vacations once the resorts reopen. Points already borrowed for a stay outside the closure period will be honored, even if they are above the 50 percent threshold. We will continue to monitor our inventory and re-evaluate, with the goal of returning to our standard policy as soon as it is appropriate to do so.

• Finally, some Members have had questions about how the closure is affecting their association’s annual dues. While lower operating costs are anticipated for each condominium association because of the closures, there are many unknowns ahead as the resorts return to operation. Our commitment to Guest and Cast safety remains our top priority, and changes may be implemented to the way we operate, which may add some new costs. Given the unique circumstances of this situation, the proposal is to issue a credit to Members in mid-December as part of the distribution of Annual Dues Statements for 2021 if their association has an operating surplus (as opposed to rolling all surpluses into reserves).

 

[CanadaDisney05]

Where are you seeing this? In the email I received from DVC this morning, it specifically states that "all banking rules remain in place".

Are you speculating, or do you have some first hand information?

email was just sent moments ago

 

[stewart715]

I had never thought of approach to reduce borrow ability to offset the influx of points. I like it.

 

[jwinky]

I had never thought of approach to reduce borrow ability to offset the influx of points. I like it.

I have a future trip in late 2021 (wanted a grand villa), so hopefully the 50% borrow will be lifted by early 2021 (11 month mark). I might need to start searching for transfer postings to cover. I'm really glad they are trying to find ways to made good with those with 2018 and 2019 points. Stay safe everyone.

 

[swong4824]

I have a future trip in late 2021 (wanted a grand villa), so hopefully the 50% borrow will be lifted by early 2021 (11 month mark). I might need to start searching for transfer postings to cover.

Same here, planning a big trip in 2021. I'm hoping this is just for the next 6 months or so since it'll give people enough time to re-book and use their points

 

[Greatfalls]

So why doesn't the extension for 2019 Use Years apply to August points? It's too late to bank those.

 

[CanadaDisney05]

So why doesn't the extension for 2019 Use Years apply to August points? It's too late to bank those.

My guess is because the closure started before the banking deadline for August Use Year

 

[aoconnor]

It's an interesting idea but surely will anger some (granted any change is bound to negatively impact somebody).

It certainly impacts me as I have a VGF contract that I exclusively use every other year, borrowing virtually all of the next years' points. Sounds like that won't be possible now at least for a while.

 

[Sandisw]

So why doesn't the extension for 2019 Use Years apply to August points? It's too late to bank those.

Because the closure was announced before the banking window closed for August UY. DVC had indicated at that point they were not allowing late banking so owners were on notice already.

So, those owners could cancel and preserve the points, April and June UY didn’t have that option.

 

[CaliforniaGirl09]

Yes, DVCM could get around the rule of late banking, and even expired points by giving those people access to OTU points over a series of years,

So, say someone loses 100 points, they allow you to access 25 extra points every UY at the 7 month mark for the next 4 years,

It would certainly spread them out and allow them to plan for the implant as they would know exactly how many points were in play.

That was it, thanks!

 

[Marionnette]

They mean business about the limit of 50% borrowing from now until ?. This popped up when I went to modify a reservation.