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Old 11-09-2018, 09:42 AM   #11
carolina_yankee
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Always use a contract.

Never rent points that you will lose if renter doesn't pay by deadlines established in the contract.

With strangers, don't be a friend.

With friends, don't be a friend unless you are willing to donate the points. It's a business transaction with no emotion attached. Money = points. No money = no points.

If the perfect vacation is ruined, that's all on the person who agreed to pay for the points and did not, and nobody else is to blame.

With family - you're on your own. You're the one who has to live with them, so do what you need to do!

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Old 11-09-2018, 01:03 PM   #12
tink711
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I would definitely take them to court. You probably wonít even have to go that far, once they get served with the court papers they might very well pay up because they know that they will loose. Right now these people are betting that you wonít go that far to get your money back. Show them that you will and your money might magically appear.
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Old 11-09-2018, 01:14 PM   #13
DVCERSINCEDAY1
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Originally Posted by tink711 View Post
I would definitely take them to court. You probably wonít even have to go that far, once they get served with the court papers they might very well pay up because they know that they will loose. Right now these people are betting that you wonít go that far to get your money back. Show them that you will and your money might magically appear.
i believe you have to sue them in their home state/county and there are dollar limits on small-claims court cases.
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Old 11-09-2018, 01:14 PM   #14
Olaf2018
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I always get full payment after sending confirmed reservation email, and no refunds.
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Old 11-09-2018, 01:24 PM   #15
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I always use a contract with the payment terms spelled out.

For 95% of my rentals it is payment in full with 48 hours of the reservation being made.

Occasionally for repeat customers who are booking 11 months out, I will change that to 50% with 48 hours of making the reservation and the balance 6 months before check-in date.
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Old 11-09-2018, 04:50 PM   #16
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i believe you have to sue them in their home state/county and there are dollar limits on small-claims court cases.
Not true. It will depend on the contract - contracts always state which state laws will govern the contract (and therefore which state you can sue in). Any regular contract will say the governing state and laws are the seller's state.
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Old 11-09-2018, 05:01 PM   #17
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Do I understand this: you collected half up front, forgot to address the rest until after they took their trip, and now that won’t pay?

You no longer have any leverage and the cost of suing isn’t worth the costs involved. And they know it.

But, this is on you. Not trying to beat up on you, but the owner has all the power in this relationship, if you exercise your due diligence.

I collect half up front as a non-refundable deposit with the balance due 60 days out. That gives me a grace period before the 30 day cancel window. If they don’t settle by 30 days out, I’ll simply cancel their reservation and keep their deposit. That’s what we contracted to happen.

And it’s never happened because people aren’t going to just blow off a 50% deposit; they’re motivated to follow up.

You lost the balance when you failed to keep up with it BEFORE their trip happened. You lost it because you neglected the leverage you held that was necessary to collect it.

That doesn’t make their refusal to pay any less moral or less wrong. Some people just take advantage of others whenever they can. Some people just suck.
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Old 11-09-2018, 05:12 PM   #18
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Do I understand this: you collected half up front, forgot to address the rest until after they took their trip, and now that wonít pay?

You no longer have any leverage and the cost of suing isnít worth the costs involved. And they know it.

But, this is on you. Not trying to beat up on you, but the owner has all the power in this relationship, if you exercise your due diligence.

I collect half up front as a non-refundable deposit with the balance due 60 days out. That gives me a grace period before the 30 day cancel window. If they donít settle by 30 days out, Iíll simply cancel their reservation and keep their deposit. Thatís what we contracted to happen.

And itís never happened because people arenít going to just blow off a 50% deposit; theyíre motivated to follow up.

You lost the balance when you failed to keep up with it BEFORE their trip happened. You lost it because you neglected the leverage you held that was necessary to collect it.

That doesnít make their refusal to pay any less moral or less wrong. Some people just take advantage of others whenever they can. Some people just suck.
Small claims court costs around $30 in WA state where I live - super easy to file a claim yourself.
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Old 11-09-2018, 05:27 PM   #19
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Not true. It will depend on the contract - contracts always state which state laws will govern the contract (and therefore which state you can sue in). Any regular contract will say the governing state and laws are the seller's state.
i have never viewed my contract as anything more than a coming to an understanding of things before buyer sends payment. i would be very naive to think it is any real legal document and i certainly do not have any clause about the governing laws.

suing always sounds easier than it really is...time/money up front with no guarantees of outcome. in all my years renting and on dvc boards, i have never heard of anyone actually winning any money in these transactions in court. in fact, i have never heard of anyone actually bringing one of these transactions to suit.

i make certain that i do not get burned by getting full payment up front.
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Old 11-09-2018, 05:49 PM   #20
dvctrader
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Default Full payment upon confirmation

I donít rent points out often, but when I do I require full payment upon approval of the confirmation.
I make the reservation in the rentersí names. I have the renter make sure the dates, names and accommodations are correct. If everything is ok, I have them send payment that day In my contract I also state it is a final transaction. I wouldnít want the hassle of chasing down the renter to get the final payment or taking somebody to court.
However, if somebody had an emergency that cancelled their vacation plans, I would work with them to reschedule or rerent the points if possible.
If I were renting, I would hope the owner would try to help me recoup the money when possible.

So far, I have had no issues.
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