Page 3 of 3 FirstFirst 123
Results 51 to 61 of 61

Thread: How should DVC Members rent out their points: Privately or broker-assisted?

  1. #51
    Senior Member mgarbowski's Avatar
    Join Date
    Feb 2014
    Location
    NYC
    Posts
    1,717
    Quote Originally Posted by bnoble View Post
    You know, thinking about it, I wonder if the real value is in the simplicity of dealing with David vs. a private transaction.
    Which was essentially the main theme of the original article, I thought.
    Mark
    2004 May Offsite,
    2008 Easter SSR, 2011 February SSR, 2012 February Jambo House/BLT, 2013 Easter BLT, 2014 Easter BWV, 2014 Christmas week CBR, 2015 Easter BWV, 2016 Feb Universal Portofino, 2017 February Poly, 2017 July OKW solo, 2017 Christmas week POFQ, 2018 P-week Wilderness Lodge

  2. #52
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by bnoble View Post
    You know, thinking about it, I wonder if the real value is in the simplicity of dealing with David vs. a private transaction.
    That's certainly part of it, but the website gives the impression of legitimacy, which could be the more important matter to people. There's really no way of knowing. And I don't mean to imply that David's is anything but a reputable company.

    Quote Originally Posted by bnoble View Post
    Don't most Members who rent require payment in advance?
    I do. Every time. I make the reservation and give the renter the reservation number so they can look it up. Then they send me payment. If for some reason I don't get the payment, I can cancel the booking. Mind you, I haven't had to borrow or bank points for these, but if I had to, I'd have to look at each transaction to determine if I could live with not getting the money; usually the renter is so concerned about securing the booking that the money arrives very quickly.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  3. #53
    the jeweled acrobats only perform amazing stunts for him DopeyRunr's Avatar
    Join Date
    May 2011
    Location
    Upstate NY
    Posts
    5,591
    Yes. But there's a risk that the person renting wants to cancel their trip, files a reversal request with PayPal or their credit card company, takes the money away from the DVC Member, who will have to fight, quite possibly unsuccessfully, to get his/her money back, and in any event could be left with un-bankable, soon-expiring points.
    Follow me on Twitter at: @DopeyRunr
    Blogging about running for fun at Disney and elsewhere with Team Shenanigans.

  4. #54
    Member DVC Mike's Avatar
    Join Date
    Jan 2015
    Location
    550 miles from WDW
    Posts
    46
    Quote Originally Posted by DVC Mike View Post
    I would agree that there is risk in any transaction. However the amount of risk will vary based on who you are dealing with.

    I would think renting from someone you know very well, who has demonstrated in the past that they are a trustworthy person, involves less risk than renting from a total stranger on the Internet. Yes, there is risk with both, but one offers substantially less risk than the other.

    There is less risk renting via a broker than renting directly with a complete stranger.
    Quote Originally Posted by bnoble View Post
    Yes, there is qualitatively less risk, in absolute terms. The question is: is it quantitatively enough of a difference to justify the price difference?

    My personal belief is no. The vast majority of private transactions go off just fine, and you are more likely to "lose" the vacation due to e.g. unexpected illness or weather delays in travel than you are if the Member rips you off. If you can't afford the financial hit of losing the vacation---no matter the cause---then you should buy trip insurance, and you should buy it even if you are renting from a broker (just as e.g. David recommends in his contract.)
    I think the risk scale looks like this:

    DVC Mike

  5. #55
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by DopeyRunr View Post
    Yes. But there's a risk that the person renting wants to cancel their trip, files a reversal request with PayPal or their credit card company, takes the money away from the DVC Member, who will have to fight, quite possibly unsuccessfully, to get his/her money back, and in any event could be left with un-bankable, soon-expiring points.
    And if a frog had wings it wouldn't bump its ass a-hoppin'.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  6. #56
    the jeweled acrobats only perform amazing stunts for him DopeyRunr's Avatar
    Join Date
    May 2011
    Location
    Upstate NY
    Posts
    5,591
    It's happened to me on eBay transactions, and it's happened to members renting out their points. To suggest that it's as rare as a frog with wings is a miscalculation of risk.

  7. #57
    wishes he had a pink frolicing llama under his tagline George's Avatar
    Join Date
    Apr 2011
    Location
    Northfield, IL
    Posts
    9,228
    Quote Originally Posted by DopeyRunr View Post
    It's happened to me on eBay transactions, and it's happened to members renting out their points. To suggest that it's as rare as a frog with wings is a miscalculation of risk.
    Yeah, I get it. But the consumer can greatly stack the deck in his or her favor by doing even just a little bit of legwork.
    http://pic90.picturetrail.com/VOL2150/847827/22364569/379301318.jpg

    Quiet, both of ya! You're gonna ruin Maw's birthday!

    Stupid Judy.

    But Sandy Plankton said...

  8. #58
    Senior Member pixarprincess's Avatar
    Join Date
    Apr 2013
    Location
    Anaheim, CA
    Posts
    1,585
    Quote Originally Posted by bnoble View Post
    You know, thinking about it, I wonder if the real value is in the simplicity of dealing with David vs. a private transaction.
    this was my initial point even before the scam talk... the time saved here has value...

  9. #59
    he's right
    Join Date
    Apr 2011
    Location
    The People's Republic of Ann Arbor
    Posts
    6,502
    Quote Originally Posted by DVC Mike View Post
    I think the risk scale looks like this:

    Mike, that's a great picture, and I can live with your ordering. But I'm now going to have to be the Engineering Professor that I am in my day job. Your axis has no labels, and so there's no way to know if the difference between "someone you know" and "complete stranger" is meaningful. If the difference in the chances of default are 0.01%, then it doesn't really matter. If the difference in the chances of default are 10%, then it does.

    My claim is that it's a lot closer to 0.01% than even 0.1%, let alone 10%.
    Last edited by bnoble; 03-17-2016 at 08:18 PM.

  10. #60
    he's right
    Join Date
    Apr 2011
    Location
    The People's Republic of Ann Arbor
    Posts
    6,502
    Quote Originally Posted by DopeyRunr View Post
    Yes. But there's a risk that the person renting wants to cancel their trip, files a reversal request with PayPal or their credit card company, takes the money away from the DVC Member, who will have to fight, quite possibly unsuccessfully, to get his/her money back, and in any event could be left with un-bankable, soon-expiring points.
    A credit card will back you if you have a signed contract that states the payment is non-refundable for any reason. But, to take credit cards directly you'll need Square or the equivalent. PayPal technically won't guarantee vacation rentals for the buyer, but you have to remind them of that, and they aren't very consistent. The simplest solution is to take personal checks. if you have to go to small claims court, you might get a judgement, but you aren't getting paid.

    I suspect the chances of landlords being stiffed by a renter is not much different than the chances of a renter being stiffed by a landlord. As in: not worth worrying about.

  11. #61
    Senior Member Micah008's Avatar
    Join Date
    Dec 2011
    Location
    Wisconsin
    Posts
    5,387
    I have purchased multiple transfers and was a renter once, most through mouseowners. Of these, one of them went bad, despite doing research.

    My first few transfers were intentionally small to be able to get some experience doing transfers, and kinda test the waters. The one that went bad was a cheap transfer of only 8 points, so we are only talking about roughly $100.

    The person doing the transfer wasn't the most responsive before the transaction, but did seem legit, and I found their contract on the orange county website to prove they owned what they said they did. After I transferred the money via PayPal (via Credit Card), they didn't reply for a couple days. When they finally did they said that they had an unexpected illness in the family and had been in the hospital (again seemed legit) but after that I never heard from them again. I still have all of the private messages we had.

    After a few weeks of trying to get ahold of them again, I filed a dispute through PayPal, who them gave them a set amount of time to respond. PayPal said that as long as they responded to the claim in any way that they would win (since it was a timeshare transaction, and not technically covered), but they never responded so I got my money back from PayPal. My credit card company said that I needed to file the PayPal dispute first, and then if I lost I could go through them as a second option. Luckily that wasn't needed.

    I am glad I had the experience, and it has showed me to be more careful and more diligent now. But, it also helps me remember the risk. Only recently have I done a larger transfer, I did even more research and kept my eyes open for red flags, and everything went well.



    To answer the original question, it is still worth the slightly higher risk to me to do the transactions privately, even having had one bad experience ... especially since I prefer transfers and the brokers don't typically deal with those.
    Last edited by Micah008; 03-17-2016 at 10:03 PM.
    Micah

    MousePerks
    Apr '87 offsite; Feb '91 offsite; Feb '04 offsite; Feb '10 Pop; Jan '12 ASSp; Jan '13 Pop; Jan '14 VGF/AKV; Mar '14 POR; Aug '14 SSR (Report); Jan '15 VGF/AKV/OKW (Report); Jan '16 BLT/BCV (Report); Aug '16 AKV; Jan '17 PVB/BWV (Report); Jan '18 Pop/BRV; Aug '18 AKV; Jan '19 PVB/BCV; Jan '20 VGF/AKV/DRR

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •