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Post by applegrcoug on Mar 17, 2023 11:16:09 GMT -5
What is the latest thought these days on places like David's? I have some stuff that needs renting out and ever since the rental thing disapeared, it seems it has gotten harder for me. Just too much activity on facebook so you just get lost in the weeds.
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Post by BWV Dreamin on Mar 17, 2023 11:47:53 GMT -5
What is the latest thought these days on places like David's? I have some stuff that needs renting out and ever since the rental thing disapeared, it seems it has gotten harder for me. Just too much activity on facebook so you just get lost in the weeds. There are an abundance of rentals right now. All of the major rental sites are over saturated with listings. A couple of weeks ago DVC Resale Market place had over 1000 listings! Price is going to dictate how soon you can move a rental. For most properties, the rental prices have dropped to around $17 to $18/ pt. Brokers have reduced what they are going to pay out to the owners. But not reduce the rental rates. Sorry to paint such a dismal picture. My advice FWIW, if you want to rent your points out one, book a highly popular week or 5 days, and rent the confirmed reservation. For just a points only rental, list the points for say $17-$18 a point and maybe lower for those that take all of the points. Again, JMHO. |
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Post by eegram on Mar 18, 2023 4:23:30 GMT -5
As far as David’s, I think it depends on what resort your points are at. A few months an ago I had some extra points at AKL and VGF to rent. Tried on Facebook and the other Board first and no bites. Listed them on David’s and they were rented within 2 weeks.
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Post by FessParker1 on Mar 18, 2023 7:24:13 GMT -5
Sister in-laws family needed a rental for this summer and I couldn't help as borrowed out to the max. I checked around and dvc rental store was renting at $19 a point. Took 2 days to get an answer and res that was there for poly was missing the first day so they got GF but at a higher cost because of more points needed. Very slow service.
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Post by disneyteach on Mar 18, 2023 7:46:08 GMT -5
I've had success on Facebook. Recently rented 140 points (2 bedroom) at BLT for $20pp. The group "Disney Vacation Club (DVC rentals, resales, and transfers)" does a monthly Messenger "group" where people can post what they want or what they have.
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Post by nickys on Mar 18, 2023 8:23:26 GMT -5
It seems that David’s are sticking with most of their rentals being the original way of renting out points for a stay.
Whereas a lot of the other brokers are encouraged people to book a stay and rent it as a confirmed reservation. They can hide the actual rate per point more easily that way, but the owner doesn’t necessarily benefit so make sure to check that out before going down that route.
Since Covid I found it easy enough to rent out my points privately and thankfully haven’t had any time wasters.
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Post by tessa on Mar 18, 2023 12:21:42 GMT -5
I used to use David's very often to rent out "extra" points to pay for Disney Cruises. I have built up a list of regulars who rent from me, although I am a member of two of the FB groups for point rentals. I am getting $19 to $21 per point renting out between 7 to 11 month window.
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Post by BWV Dreamin on Mar 18, 2023 12:56:15 GMT -5
David’s does not issue a 1099 for your rentals as he operates out of Canada. He only pays thru PayPal ( and no personal checks or direct deposits). PayPal frowns on timeshare rentals and if caught will make you refund the purchaser and close your account. I think he may use the Family and Friends option to skirt the risk, but frankly I have no idea how that all works as I don’t use PayPal. Just a heads up.
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Post by nickys on Mar 18, 2023 13:24:19 GMT -5
David’s does not issue a 1099 for your rentals as he operates out of Canada. He only pays thru PayPal ( and no personal checks or direct deposits). PayPal frowns on timeshare rentals and if caught will make you refund the purchaser and close your account. I think he may use the Family and Friends option to skirt the risk, but frankly I have no idea how that all works as I don’t use PayPal. Just a heads up. Yes, he does use friends and family so no risk from PayPal. It worked for me since the other major broker wouldn’t work with international owners at the time. I believe they will now BUT won’t help with the IRS registration-which makes it almost impossible. I did look into it but to register it seems you need to show the proof of tax owed or a contract, which the broker won’t issue - because there isn’t a contract until you register. Classic catch 22. So it has to beDavids if I want to use a broker. |
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Post by ermindy1133 on Mar 18, 2023 14:52:24 GMT -5
I recently rented a reservation for my birthday weekend through DVC Rental Store. Didn’t have much trust in David’s, and there isn’t an RTB. So that seemed like the easiest avenue. I’ll report back after the trip to review the rental process from the client side, if anyone is interested.
ETA: Corrected name of company.
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Post by brp on Mar 18, 2023 15:00:20 GMT -5
David’s does not issue a 1099 for your rentals as he operates out of Canada. He only pays thru PayPal ( and no personal checks or direct deposits). PayPal frowns on timeshare rentals and if caught will make you refund the purchaser and close your account. I think he may use the Family and Friends option to skirt the risk, but frankly I have no idea how that all works as I don’t use PayPal. Just a heads up. So scamming both the taxing authorities and PayPal. Not a bad racket there 
Cheers.
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Post by nickys on Mar 18, 2023 16:58:35 GMT -5
David’s does not issue a 1099 for your rentals as he operates out of Canada. He only pays thru PayPal ( and no personal checks or direct deposits). PayPal frowns on timeshare rentals and if caught will make you refund the purchaser and close your account. I think he may use the Family and Friends option to skirt the risk, but frankly I have no idea how that all works as I don’t use PayPal. Just a heads up. So scamming both the taxing authorities and PayPal. Not a bad racket there
Cheers.
Since David’s is based in Canada is he obliged to issue US tax documents? Is it even possible for a foreign company to issue US tax documents? As for PayPal, I’ve used friends and family to receive money for rentals, since Venmo doesn’t operate here. That isn’t a scam, PayPal doesn’t have rules in place as to what you can receive money for using the friends and family option. They just won’t get involved in any disputes if you use that option. But David’s did offer the option of a personal check when we used them to rent out our points. I chose PayPal because I didn’t have a CAD$ bank account. |
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Post by brp on Mar 18, 2023 17:28:02 GMT -5
So scamming both the taxing authorities and PayPal. Not a bad racket there
Cheers.
Since David’s is based in Canada is he obliged to issue US tax documents? Is it even possible for a foreign company to issue US tax documents? As for PayPal, I’ve used friends and family to receive money for rentals, since Venmo doesn’t operate here. That isn’t a scam, PayPal doesn’t have rules in place as to what you can receive money for using the friends and family option. They just won’t get involved in any disputes if you use that option.
I don't know the answer to the first one, but it makes it easier for folks to avoid paying taxes on earnings if there is no record.
As for PayPal, I do know that "friends and family" is not intended for use in for-profit business transactions, no matter what specific wording they may have or ways to work the language. But, yeah, it's easy to work around that intent.
Cheers.
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Post by bubster on Mar 18, 2023 17:32:48 GMT -5
So scamming both the taxing authorities and PayPal. Not a bad racket there
Cheers.
Since David’s is based in Canada is he obliged to issue US tax documents? Is it even possible for a foreign company to issue US tax documents? It’s possible. We own stock out of Canada and get 1099-DIVs for foreign tax paid. Honestly it’s not a huge amount but just enough to be a PITA at tax time. |
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Post by nickys on Mar 18, 2023 17:55:12 GMT -5
Since David’s is based in Canada is he obliged to issue US tax documents? Is it even possible for a foreign company to issue US tax documents? As for PayPal, I’ve used friends and family to receive money for rentals, since Venmo doesn’t operate here. That isn’t a scam, PayPal doesn’t have rules in place as to what you can receive money for using the friends and family option. They just won’t get involved in any disputes if you use that option.
I don't know the answer to the first one, but it makes it easier for folks to avoid paying taxes on earnings if there is no record.
As for PayPal, I do know that "friends and family" is not intended for use in for-profit business transactions, no matter what specific wording they may have or ways to work the language. But, yeah, it's easy to work around that intent.
Cheers.
The record exists on PayPal, had I needed to fill it in on a tax return. And I got a document by email with all the details on it, what is was for, the date I received payment etc. Luckily the amounts I got in a tax year fell under the threshold for having to do so. And David’s didn’t use the friends and family option on PayPal. I did when I rented out points privately, but that wasn’t for business. |
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