Renting Out Points.. Payment Timeframe?

J

justme0729

DIS Veteran

Joined

Jun 11, 2014

• Oct 22, 2018

• #1

What is typical for the timeframe of payment when renting out points? Is it full payment up front after securing the reservation, 50% when booked and 50% at check-in? I am thinking I would be comfortable with 80% up front and 20% at check-in but I don't know if that is what is typical.

 

Matty B13

DIS Veteran

Joined

Jun 13, 2016

• Oct 22, 2018

• #2

It’s up to what the owner of the points wants, I always get full payment after sending the confirmation email to the renter. But, most of my rentals have been under $1000.

Also, I have offered my renters a lot of flexibility if something came up and they needed to change dates or resorts, but I don’t offer refunds.

 

js

Been around since before the disboards 90s crash

Joined

Jan 18, 2000

• Oct 22, 2018

• #3

Matty B13 said:

It’s up to what the owner of the points wants, I always get full payment after sending the confirmation email to the renter. But, most of my rentals have been under $1000.

Also, I have offered my renters a lot of flexibility if something came up and they needed to change dates or resorts, but I don’t offer refunds.

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This is the same for me although some of my rentsls have been over $1000. Full payment since I consider the points gone, especially if someone cancels last minute. No refunds and I expect payment after the confirmation email.

 

starry_solo

DIS Veteran

Joined

Nov 19, 2010

• Oct 22, 2018

• #4

Depends on the renter and the rentee.

The DVC owner I work with is usually 50% with confirmed reservation (loadable to MDE) and 50% no less than 45 days before start of reservation. But, since I've rented a few times, it's been changed to 1/3 at confirmed reservation (which is made 11 months in advance), 1/3 at 5-6 months from check-in, and last 1/3 at 45-60 days from check in.

 

L

LYSE

DIS Veteran

Joined

Mar 5, 2017

• Oct 22, 2018

• #5

It's that whatever you guys decide on but most common I've seen and done is payment in full after it's confirmed or 50 percent once confirmed and remaining 50 percent 90 60 or 30 days prior to check in.

 

Deb & Bill

DVC-Trivia Contest, Apr-2006: Honorable Mention

Joined

Mar 20, 2000

• Oct 22, 2018

• #6

Many owners and most of the brokers require a deposit to make the reservation and full payment upon making the reservation. You could be out 50% or 20% if you wait until check in for them to pay up.

 

Matty B13

DIS Veteran

Joined

Jun 13, 2016

• Oct 23, 2018

• #7

I wouldn't want to only get 50% of value of the points I rented out, if at the last minute and at the end of my UY, a renter canceled their reservation on me. 45 days at the end of your UY is almost impossible to try and find a reservation, especially in the fall and Christmas time. Your also way past your banking window as well. So this is why many owner require full payment after the reservation has been made.

 

C

crisi

DIS Veteran

Joined

Feb 25, 2002

• Oct 23, 2018

• #8

Never take the remaining payment at checkin - it is too late for you to recoup any of your costs if they don't pay up or cancel - and far too easy for them to check in and then conveniently "forget" to pay you.

If you don't get full payment up front, at least get the remaining payment in time to be able to do something if your renter does not pay or decides to cancel the trip. That's probably at least 60 days out - more if its at the end of your use year.

Consider using a broker to rent you points - they will take some of your profit, but they'll also deal with the money issues and the rental issues you might not want to deal with (like cancellation).

 

M

mort1331

DIS Veteran

Joined

Jul 15, 2012

• Oct 24, 2018

• #9

Have always taken 100% after booking confirmed. I now have a couple of renters that are regulars as long as i have extra points so i help them out. 50 up front and the balance 3 months out. But as i have said these are renters i have rented to multiple times before and no issues.

 

carlbarry

DIS Veteran

Joined

Oct 28, 2007

• Oct 24, 2018

• #10

I do 50% upon booking, and 50% 31 days before the trip.

 

mel&me

DIS Veteran

DIS Lifetime Sponsor

Joined

Nov 15, 2003

• Oct 24, 2018

• #11

Have not rented in while but its 100% after confirmation.

 

DisBuckMan

DIS Veteran

Joined

Apr 14, 2015

• Oct 24, 2018

• #12

mel&me said:

Have not rented in while but its 100% after confirmation.

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Same.

 

CraigInPA

Since June 1974

Joined

Jun 11, 2012

• Oct 25, 2018

• #13

Payment in full within 24 hours after I provide the reservation number.

 

KAT4DISNEY

Glad to be a test subject

Joined

Mar 17, 2008

• Oct 25, 2018

• #14

100% payment received within 7 days of reserving.

Never ever wait until check in for any part of the payment.

 

ziravan

Welcome Home

Joined

Apr 4, 2014

• Oct 25, 2018

• #15

How I do it: 50% due on confirmation, 50% at 60 days out. That way, if there’s a delay I can figure it out ahead of the 30 day cancellation period.