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Post by BWV Dreamin on May 2, 2023 6:28:10 GMT -5
I read somewhere that you need to fill out a w2 or something similar if you use a broker. Was that the case with you. The form is called a 1099 and the broker will send you this in January of the following year you rented points with them. This gets reported to the IRS, so I would highly recommend you report this as well on your tax return. Now not all brokers do this. David’s Vacation Rentals does not as he resides in Canada. Whom ever you choose to list with, I would ask if they provide a 1099. |
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Post by Ellie54 on May 2, 2023 9:26:05 GMT -5
Thank you Hope - I drew a blank on the 1099 - I swear us senior citizens forget more and more as we get older.
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Post by SuzanneSLO on May 2, 2023 9:35:44 GMT -5
I read somewhere that you need to fill out a w2 or something similar if you use a broker. Was that the case with you. You are probably talking about a W-9 which provides your social security number to someone who is paying you income so that that person can correctly fill out their own tax forms. You should note, however, that the income you receive may or may not be taxable whether or not you fill our a W-9 or receive a 1099. |
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Post by Ellie54 on May 2, 2023 9:48:36 GMT -5
Thank you for the info.
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Post by lephelps on May 2, 2023 10:32:41 GMT -5
I read somewhere that you need to fill out a w2 or something similar if you use a broker. Was that the case with you. You are probably talking about a W-9 which provides your social security number to someone who is paying you income so that that person can correctly fill out their own tax forms. You should note, however, that the income you receive may or may not be taxable whether or not you fill our a W-9 or receive a 1099. I don't believe you receive a 1099 if the amount is under $600. When we bought our first contact in July 2020, it came with 40 banked points expiring in April 2021 that we rented via a broker in early 2021. The total amount we received for the rental was under the 1099 limit so we didn't get a 1099; we recorded it as "other income" on our taxes. |
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Post by henrycpa on May 2, 2023 14:44:59 GMT -5
With the amount of annual dues today and the value of my points I rent for $20 if I rent at all. I will go to $18 at SSR under 5 months if it is available.
But, at 5 months you are likley only going to get SSR, OKW, and maybe Kidani. I am guessing the standards may be gone at those locaitons except maybe SSR.
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Post by DVCQUEEN on May 3, 2023 6:20:21 GMT -5
4th of July has never been a great Spec rental week. Summer historically is not peak DVC rental time.
My points normally don’t make it past April bookings and I have a March UY. Which means I’m renting all my points in March.
many on FB are just guessing and grabbing whatever is available to list for rent, but that is not really necessary.
walking value studios at 11 months to list for rent is also not necessary to rent points at $20-22 but I guess they find it thrilling.
Then you have the FB people asking for distressed points at 11 months out but don’t scam me! Just too much!!
I see downward pressure if you are trying to keep up with the inexperienced or scammers. Experienced owners that rent, dont play games and know how to manage their points and guests.
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Post by BWV Dreamin on May 3, 2023 6:25:08 GMT -5
My rate varies depending on the renter. I will give a lower rental price for a repeat renter. I like to try and stay near what the brokers rent to others. I still make more per point but the renter is not paying anymore then they would with a broker.
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Post by SuzanneSLO on May 3, 2023 8:17:31 GMT -5
4th of July has never been a great Spec rental week. Summer historically is not peak DVC rental time. My points normally don’t make it past April bookings and I have a March UY. Which means I’m renting all my points in March. many on FB are just guessing and grabbing whatever is available to list for rent, but that is not really necessary. walking value studios at 11 months to list for rent is also not necessary to rent points at $20-22 but I guess they find it thrilling. Then you have the FB people asking for distressed points at 11 months out but don’t scam me! Just too much!! I see downward pressure if you are trying to keep up with the inexperienced or scammers. Experienced owners that rent, dont play games and know how to manage their points and guests. I have needed to rent the last several years. I need to bank by the end of March, so I do my renting that month for dates 2 to 4 months out. I grab whatever is available and post it for rent, then rinse and repeat. I’m probably the nightmare owner for those who have points they regularly rent. |
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Post by jawfish on May 5, 2023 22:55:09 GMT -5
I read somewhere that you need to fill out a w2 or something similar if you use a broker. Was that the case with you. I think we did. I did not handle it, so could not confirm. |
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Post by Ellie54 on May 6, 2023 8:24:27 GMT -5
Thank you everyone for the info.
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Post by starry_solo on May 13, 2023 23:47:23 GMT -5
Good luck with whatever you decide. I rent points from an owner I have used over the years. My first DVC rental (for 2 weeks at WDW) was from 3 different owners to stay at AKV, BCV, and BLT. My second DVC rental (also for 2 weeks at WDW) was from the same owner that rented me the BLT points. We stayed at AKV (concierge, he waitlisted for us), BCV and BLT. After I had made the first DVC rental from the 3 owners, I learned that the BLT owner also owned at AKV and BCV. My next few DVC rentals have been with the same owner that rented me BLT points from the first rental. We had a reservation during COVID but the resorts and parks re-opened several months before we were scheduled to go. We ended up canceling the reservation 4 months before we were scheduled to go and paid a few hundred dollars (I suggested the amount and he agreed), even though the points used could fortunately still be banked. I believe prices raised from $10/point 12 years ago to $18-20/point now. I'm now hoping he can use his WDW DVC points to get me VDH  |
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Post by DVCQUEEN on May 14, 2023 12:59:56 GMT -5
VDH is going to be a game changer for point rentals. Over 200 studios and plenty of rental demand. High cash prices of $500+ a night will make for a very robust VDH market. Direct VDH owners are charging +30 per point for rentals.
If im a a direct point owner, Im renting VDH at 7 months and renting or looking for guests that are interested in VDH as the floor will be around $20-23 per point. VDH will stay booked with the flood of 7 month points, despite the extra fees. No such thing as distressed points if you can grab a few nights at VDH and rent them. West coast guests are used to paying higher hotel rates as opposed to the plethora of places to stay near WDW. No Value resorts or campgrounds at DL either. The market will shift to the west first then back to Florida.
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Post by starry_solo on May 14, 2023 14:30:13 GMT -5
VDH is going to be a game changer for point rentals. Over 200 studios and plenty of rental demand. High cash prices of $500+ a night will make for a very robust VDH market. Direct VDH owners are charging +30 per point for rentals. If im a a direct point owner, Im renting VDH at 7 months and renting or looking for guests that are interested in VDH as the floor will be around $20-23 per point. VDH will stay booked with the flood of 7 month points, despite the extra fees. No such thing as distressed points if you can grab a few nights at VDH and rent them. West coast guests are used to paying higher hotel rates as opposed to the plethora of places to stay near WDW. No Value resorts or campgrounds at DL either. The market will shift to the west first then back to Florida. I think it depends. Obviously, those who are used to paying high prices for deluxe resorts have no issues paying for VDH. But, there are plenty of budget-friendly motels/hotels within walking distance of DLR/DCA that so many people recommend - free breakfast, walking quicker to the park entrance and security than to DLH, the ones a little farther away, people take the Toy Story bus in the morning to get to the parks and at night to get back to their hotels. There seem to be a lot more people going to DLR that are willing to stay outside the bubble of DL grounds. |
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Post by DVCQUEEN on May 14, 2023 16:31:10 GMT -5
All my points are direct so I will not be purchasing VDH, but I definitely see the potential and the demand.
Also will not purchase Poly as my points will be good there as well.
I have enough VGC for my use and its a easy 11 month booking for me in studios, so nothing but good news!
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