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I don't know if this is still true, but my "Big Book of Starwood,) says:
14. SVN members can convert their weeks for Starpoints evern non-consecutive use year. If you want to convert your week to Starpoints, please advise us of this preference no later than 12/31 of the year before your use year. (I'm going to confirm this on mystarcentral.) - *see below
You can convert both sides every other use year, or one side, (alternating sides) every use year.
From mystarcentral.com
Q: When do I need to take action to convert my week to Starpoints?
A: You may convert your ownership week to Starpoints between the dates of October 1 (prior to the Use Year being converted) and March 31 (of the actual Use Year being converted) and receive your Starpoints within approximately 72 hours of the transaction.
Please Note: You may convert your week earlier than October 1 (prior to the Use year being converted), however, your Starpoints will not be issued before October 1 (prior to the Use Year being converted).
For example, Mr. Jones wishes to convert his week to its equivalent value of Starpoints for the 2008 Use Year. He can make that request between the dates of October 1, 2007, and March 31, 2008. Mr. Jones will receive his Starpoints within approximately 72 hours of paying the $99 conversion fee and prepaying his maintenance fees, taxes and club dues for the 2008 Use Year. As soon as his Starpoints are credited to his account, he may call Owner Services or Starwood Preferred Guest at 1-888-625-4990 to make travel plans using his Starpoints.
When you convert your week to Starpoints, you are required to pre-pay your maintenance fees, taxes and Starwood Vacation Network membership fees for the use year you are converting. You must also be current in your financial obligations.
Please Note: To effectively manage the inventory of your Home Resort, and to ensure that there is sufficient space for Starwood Vacation Network (SVN) members, allotments for Starpoints conversion are set according to season and villa type at each resort. If the total allotment number has been reached, or if it is determined that SVN does not have the ability to rent the week to recover the costs associated with the conversion, a request may be denied.
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