Effective DVC Point Rental Agreements

[deerh]

I agree,
I think the DL # is a little much over the top. But otherwise, a nice contract and well thought out..

DeerH

 

[newfamilyman]

Just joining the others in thanking those who shared their contracts for this very helpful thread.

 

[Muffley]

This may be a bit more complicated as I believe DVC rules state that there can not be a payment between the parties for transferred points. The rules on point transfers are a bit complicated but MS wil explain any restrictions to you if you call.

I bet Doc or some others have a better handle on this than I do.

I also recall reading that point transfers between memeber cannot involve any monetary transaction. This seemed strange to me, does anyone know the reason for this? Can Disney legally enforce this?

 

[magicmouse2]

I think Paypal invoices work well also, as the renter can have Paypal protection and it is straightforward.

 

[FredS]

I'm with Dean. I just don't think that an extensive "formal" written contract has a lot of importance in my renting.

I have rented several times and all transactions have gone smoothly (and I've made some good friends!) I think that I am careful to answer questions and I do a brief "recap" of the terms -- dates, room type and location, cost, dates payments due -- just to avoid any mistakes or confusion. I also make clear that payments are non-refundable, but that I will work with the renter to reschedule if and as necessary. One can be professional yet friendly in this type of transaction, and without planning for eventual legal battle.

I do not think that a multi-page contract would really make me or the renters I have dealt with feel more comfortable. I answer their questions via phone and email and we generally form a friendship. I think everyone understands our deal and a legalese contract is unnecessary. And, trust me, sometimes elaborate contracts cause more problems than they solve...........

 

[JimC]

While some seem to have chosen not use a formal rental agreement, DVC has included language specific to the nature of agreements in Exhibit "F" - paragraph 5 to the Master Deed:

" ... All leasing or rental agreements relating to the use, occupancy and possession of any Vacation Home must be in writing (emphasis added) and must set forth an acknowledgement and consent on the part of the lessee-sublessee-tenant to use, occupy and possess such Vacation Home in conformance and compliance with the provisions of the Condominium Documents and these Condominium Rules and Regulations. ..."

Regardless whether some feel the agreement offers any protection, the fact remains that DVC mentions it's use in the POS and specifically states what it must contain, so I sure can't see any harm in using a rental contract- especially when sample documents are readily available - just like in this thread.

I would (and do) always advise renters to expect/demand a rental contract from the member from whom they will rent.

Just bringing Doc's good comments back to the top as to why an agreement is appropriate. The sample I posted above was drafted to include a range of issues that I have seen or discussed with others here and on TUG. Some of the language has been contributed by others whose opinions I respect. Pick what you like, modify what you don't, but I agree with Doc that complying with DVC's requirements is the way to go.

 

[Dean]

I also recall reading that point transfers between memeber cannot involve any monetary transaction. This seemed strange to me, does anyone know the reason for this? Can Disney legally enforce this?

I doubt they care and doubt they could enforce it. What they could do is stop transfers altogether. And such is the risk of any of these issues, esp the hot topic items. Complain about renting, transfers, pool hopping, etc, they stop it all.

 

[senecabeach]

bump..

 

[gblast123]

bump... what a great site

 

[TeresaPrice]

I agree, what a wonderful site! We're actually looking to rent points, and I know I would be more comfortable with a contract. My husband and I are both engineers and have our own consulting firm. Even (or especially) on very small projects, we have found that a contract is invaluable. Most clients are wonderful, but every few years we get a real turkey. The last time it happened, he was an attorney! He tried to get nasty, but we knew our contract protected us, and he knew it, too.

I look forward to renting from one of you!

Teresa

 

[chiclet]

Excellent information, thanks!

 

[lbrown]

bumping... this has some good info... looking to rent points for our next trip, but not sure how to go about renting

 

[ilovepooh]

Great thread. Thanks for the contract. I will use one because it's easy to do.

Do you sign and fax it and ask that they sign and fax it back? (of course, then you would fax them a copy with both signatures.) Is that electronic signatures?

New here. Just want to make sure I do this properly.

 

[Granny]

There is no set way to communicate and handle the transaction. It's up to you.


The way I worked it was to get the requests, make the reservation and send the confirmation and two contracts (with my signature) to the renter. Then, 20% of the total cost and one fully signed contract was due to me within 10 days upon receipt of a copy of the confirmation. The balance was due 60 days before the reservation starts.

 

[getgill]

I like the idea of a hard copy signature even if you do electronic signatures too. That way you will have a verified address of the renter, not just a fax number.

I am just starting to rent points so thanks for this thread and the contract info!

 

[Pixiedoodle]

This is exactly what I was looking for!!! Thanks so much for putting this together. We wanted to go on the 3day cruise in April and then go to Vero Beach but we need to rent out some point in order to afford!!! So I am hoping this works. This is our 2nd year as DVC owners and I always go onto this site....and get emails etc. very rarely posted....I just love reading...so I hope when someone is checking me out they dont go according to my new membership....cant find what I used to log on as and had to join again!!!!! Thanks for everyones input....I was printing away!!!

 

[mikron]

I have been renting since 2004, my family has been renting for over 10 years. I feel as a renter I open myself to not getting paid as well as renters feel they might not have a reservation when they get to disney. I as the renter could lose the points i rented if the renter backes out at the last minute. I require payment in full with a contract that states i will help the renter rerent the points if they have to cancel. If there are no rooms or time to rerent they should take the loss. I can't re sell like disney could, they own the resorts.

 

[4mcbjCtr]

subscribing

 

[mikron]

I think if you give someone xx days to cancel with a full refund that gives them time to look for a better deal. I require payment infull and if renter has to cancel i will rerent the points for them. Any money i get will go back to the renter.

 

[PaDisneyCouple]

Thank you for this thread. We're in the process of buying, and this was one of the things on my list to learn about. I've already had a couple of co-workers express interest in renting points (that is, if we're not already using them ).