[2014] How do you "rent" Marriott VC points

[gjnick]

I've seen several mentions of renting Marriott VC points. That's a new concept to me. We never seem to have enough points to lock in desired vacations and don't want to buy anymore because it doesn't seem to be the answer to our problem.

Can someone please explain how it is done?

 

[Fairwinds]

Check this site
http://www.vacationpointexchange.com

 

[Fasttr]

Can someone please explain how it is done?

MVC allows for the transfer of points from one owner to another. In fact they do not limit the number of transfers in or out you can do in any given year, and there is no fee from MVC to do so. That makes "renting" points very easy. You just find a points owner who has more points than they need, make sure the Use Year of their points works for when you need to make the reservation, agree to pay them an amount per point (usually around $0.55 per point or so) via PayPal, and then provide them with your name and MVC account number, they call up MVC and transfer the points. Its quite easy. VPE (linked in the post above) and also www.ownertrades.com are two sites created by TUGgers who provide for peer to peer marketing between those with points to rent out, and those who wish to rent the points. Its a great way to add points if you need more, or get cash for points if you have too many.

 

[NYFLTRAVELER]

MVC allows for the transfer of points from one owner to another. In fact they do not limit the number of transfers in or out you can do in any given year, and there is no fee from MVC to do so. That makes "renting" points very easy. You just find a points owner who has more points than they need, make sure the Use Year of their points works for when you need to make the reservation, agree to pay them an amount per point (usually around $0.55 per point or so) via PayPal, and then provide them with your name and MVC account number, they call up MVC and transfer the points. Its quite easy. VPE (linked in the post above) and also www.ownertrades.com are two sites created by TUGgers who provide for peer to peer marketing between those with points to rent out, and those who wish to rent the points. Its a great way to add points if you need more, or get cash for points if you have too many.

How long does a transfer take?

 

[pharmgirl]

Before renting points, do you have a week already reserved?

 

[Fasttr]

How long does a transfer take?

Minutes. Assuming the person you are renting from is available to transfer as soon as he sees the money hit his PayPal account, he/she can call MVC immediately and in less than a 5 minute phone call to MVC, can transfer the points and they immediately show up in your account, ready to be used. I think my record from starting the negotiation to having the points in my account is under 15 minutes....that's emailing the person who listed the points for rent, receiving an email back confirming point quantity, Use Year and price, to me paying via PayPal, to receiving the points in my account. Of course, not everybody responds immediately to emails, so the response time can vary.

For the OP...keep in mind, Transferred points are frozen to the Use Year they came from....meaning you cannot Bank or Borrow them, so be sure how many points you need and again, make sure you are getting them for the Use Year you need to use them in.

 

[Fasttr]

Before renting points, do you have a week already reserved?

I usually rent the approximate number of additional points I feel I will need for the year well in advance of when I will be placing a ressie, so for me this is not an issue. As an example, I have already rented what additional points I will need for 2016, so when I want to make a ressie in 2015 for 2016, I am ready to go. You can certainly wait until it gets closer in, but if I see a good deal pop up on VPE, I usually jump on it when I see it.

I do know that some will wait until they want to make a ressie, will then check availability by calling MVC and if what they need is available, will consummate the points rental, then go online and book their week, hoping its still available. That is likely the norm.

I have read of one person who posted that they negotiated the points rental, then got on a 3 way call with points rental person, the VOA at MVC, and themselves, had the VOA verify that the person renting out the points has the points available, then had the VOA place the ressie on hold, they then transferred the $$ via PayPal, person renting the points verified the $ was received, and then instructed VOA to transfer the points, at which point the VOA then used the newly begotten points to secure the ressie that was on hold for them.

It can be done many ways.

 

[Superchief]

I have made a reservation first using my points, and then transfered the reservation to the 'renter' after payment. This makes it possible to use the 'banked' points that can't be transferred. Additionally, as a Premiere Plus owner with some trust points, I sometimes have access to reservations that others don't. This is another great option for DC point rental.

 

[GrumpyDude]

Before renting points, do you have a week already reserved?

Hi, New to TUG here... When making a reservation that includes rented points, do rented points or owned points get used first? Basically if your balance with the rental points transfer exceeds the desired reservation, are owned points or rented points left in your account?

 

[Fasttr]

Hi, New to TUG here... When making a reservation that includes rented points, do rented points or owned points get used first? Basically if your balance with the rental points transfer exceeds the desired reservation, are owned points or rented points left in your account?

Welcome to TUG!!!

Which points you use are totally up to you. When making a ressie online, you can allocate from which bucket of points you want points taken from, right down to the specific quantity of points from each bucket. Same if you call a VOA to make the ressie for you. As a general rule, its best to use the rented points first, as your own points are more valuable to you as you can still bank or borrow those.

ETA: "Rented" points show up as Transferred points in your account, so they can easily be identified from your owned points.

 

[KenA]

Sorry if I am missing this, but I am a "new" points owner and have not made any reservations yet. If I want to rent something in 2015 and I need to rent points, I need to rent 2015 use year points, is that correct? Can I rent 2015 use year points and then make a 2016 reservation or a 2014 reservation? I am not sure I understand the use year and how it relates to reservations I make.

 

[Fasttr]

Sorry if I am missing this, but I am a "new" points owner and have not made any reservations yet. If I want to rent something in 2015 and I need to rent points, I need to rent 2015 use year points, is that correct? Can I rent 2015 use year points and then make a 2016 reservation or a 2014 reservation? I am not sure I understand the use year and how it relates to reservations I make.

Use Year is calendar year for Legacy Points (which are points that enrolled weeks owners get in exchange for electing to turn their week over to points in any given year), and can be calendar year or fiscal year for Trust Points (points supported by the underlying ownership in the Trust). As an example, my Trust points run from 10/1/xx-9/30/xx so they overlap a normal calendar year cut off. The Use Year for Trust points is determined based on the first of the month after you close on the purchase if purchased from MVC...or if purchased resale, they remain whatever they were before the sale. And Legacy enrolled owners who also purchase Trust points from MVC can elect to have their Trust points synced to a Calendar Use Year for ease of keeping track (and most do). You can rent either Legacy or Trust points and they can be combined in the vast majority of cases to make a ressie (there are rare instances where you may need all Trust points....but again, this is very rare!!!)

So when using points, either your owned points or rented points, you use points from the Use Year that the first day your ressie falls into. That date of check in is the trigger date.

Keep in mind, owned points can be borrowed back a year, or banked forward a year. So if you have calendar Use Year points from 2015, and bank them forward, they are now Banked 2016 Use Year points and can only be used for ressies in the 2016 Use Year.

As to your question... if you rent 2015 Calendar Use Year points, can you use them for a 2014 or 2016 ressie...no you cannot. Transferred (or rented points as we like to call them) are locked into the Use Year they came from. So if you are renting 2015 Calendar Use Year points, they can only be used to snag a ressie whose day of check-in is during the 2015 Calendar Use Year. Again, if they are fiscal Use Year Trust points, you will have to make sure the points are good for the ressie dates you need based on the oddities of the fiscal Use Year limitation on those points.

Does that help. There are many nuances, so I don't want to provide too many examples, but hopefully I have provided enough to answer you questions.

Feel free to PM me if you have specific questions that you don't want to post in the thread.

 

[KenA]

It does make sense, for the most part, but what threw me was something in an earlier post

I usually rent the approximate number of additional points I feel I will need for the year well in advance of when I will be placing a ressie, so for me this is not an issue. As an example, I have already rented what additional points I will need for 2016, so when I want to make a ressie in 2015 for 2016, I am ready to go. You can certainly wait until it gets closer in, but if I see a good deal pop up on VPE, I usually jump on it when I see it.

How are you renting points for use in 2016?

 

[Fasttr]

How are you renting points for use in 2016?

As a Trust owner, MVC loads points into your account 25 months before the start of each Use Year....so for example my 10/1/16-9/30/17 Use Year points were put into my account on about Sept 1, 2014. They load them so early to allow you the ability to borrow them back 1 year and to book a ressie 13 months out from the start of a Use Year (13 months lead time for ressie + 12 months for borrowing them back a year = 25 months). For me, those 10/1/16-9/30/17 points are my "2016 Use Year" points, even though they can be used in 2016 and 2017. Anyhow, as soon as those hit my account, I am able to Transfer (rent) them. So I could actually rent you my 10/1/16-9/30/17 Use Year points right now.

Basically same rules for enrolled Legacy owners, they have the ability to elect to exchange their week for points 25 months before a Use Year for any owned week....so they can elect points for a 2016 week in December 2013, and again, as soon as they elect and receive the points, they can rent them out.

 

[dioxide45]

Welcome to TUG!!!

Which points you use are totally up to you. When making a ressie online, you can allocate from which bucket of points you want points taken from, right down to the specific quantity of points from each bucket. Same if you call a VOA to make the ressie for you. As a general rule, its best to use the rented points first, as your own points are more valuable to you as you can still bank or borrow those.

ETA: "Rented" points show up as Transferred points in your account, so they can easily be identified from your owned points.

Also, if you have somehow end up with rented/transferred points along with a reservation using regular points, you can call Owner Services and have them swap out the regular points with rented/transferred points. This shouldn't happen often but could if you cancel a reservation made with rented points.

 

[DB-Wis]

gjnick, thanks for posting this question. I didn't know how little I knew about renting points until I read this discussion.

And thank you, Fasttr, for all of your responses. You taught me a lot!

It's because of informative discussions like this that I take the time to monitor TUG everyday!

Checking into Custom House tomorrow -- can't wait.

 

[StevenTing]

This is a great thread. I usually rent my points out to people and I try and complete my transactions ASAP. I've rented points and I've also made reservations for people.

I kinda like making reservations for people because it makes me feel good. I tell them what I have/see, tell them how much the cash rate is, and then tell them how much they are saving.

But for the most part, expect point rentals to be between 0.55 - 0.70 per point, depending on quantity and the person you are dealing with. Personally, I rent my points for [deleted]. My points have value to me so I try and capture that value.

Either way, there has been a constant stream of people willing to rent their points out as well as a number of people that are in need of points. Once you do your first transaction, it will seem simple.

 

[Fasttr]

I rent my points for [deleted]. My points have value to me so I try and capture that value.

Steven....I also think you are likely able to command a slight premium because you are a "known" TUGger and co-founder of VPE. It does take a certain amount of trust in the person you are dealing with when you hit that button on PayPal to transfer the $$, and doing business with a "known" person is worth a small price premium from my perspective as a person renting points from others.

 

[StevenTing]

Very true.

 

[SueDonJ]

Moderator Note: Steven, I completely understand the point of your post, but had to delete the specific amount for which you rent your DC Points. The range of prices that we're seeing, that's fine. Specific availability/pricing, which gives the appearance of an ad for your personal rentals, is not. I hope you understand!

It probably goes without saying, the TUG Posting Rules do not extend to Private Messages or emails among TUGgers. Anybody should of course feel free to privately share/discuss the details that are not allowed in the public forums. The purpose of the "No Advertising" rule isn't to discourage timeshare rentals/exchanges, but to limit them to only certain sections of TUG or to private correspondence/transactions.

 

[SueDonJ]

Steven....I also think you are likely able to command a slight premium because you are a "known" TUGger and co-founder of VPE. It does take a certain amount of trust in the person you are dealing with when you hit that button on PayPal to transfer the $$, and doing business with a "known" person is worth a small price premium from my perspective as a person renting points from others.

I agree with this. Any rental transactions we do will be limited to those with whom I've managed to form a relationship, and think of as "trustworthy," here on TUG. If there's a premium to be paid it'll be well worth it.

 

[pharmgirl]

Is there a spot on TUG where points can be rented? If not, where is this done?
Thanks

 

[Fasttr]

Is there a spot on TUG where points can be rented? If not, where is this done?
Thanks

See posts #2 and #3 above for a couple of options.

 

[GregT]

Check this site
http://www.vacationpointexchange.com

VPE (linked in the post above) and also www.ownertrades.com are two sites created by TUGgers who provide for peer to peer marketing between those with points to rent out, and those who wish to rent the points.

Here are the two sites that have been most proactive -- I believe TUG also has the capability within its classified ads, but not sure how active it has been.

Disclosure: StevenTing and I started VPE.

Best,

Greg

 

[SueDonJ]

I have made a reservation first using my points, and then transfered the reservation to the 'renter' after payment. This makes it possible to use the 'banked' points that can't be transferred. Additionally, as a Premiere Plus owner with some trust points, I sometimes have access to reservations that others don't. This is another great option for DC point rental.

I may have overlooked it if it's already been said in this thread, but it's worth saying again that the above mechanism is the only way for a DC Member to rent Points to a non-Member because non-Members do not have DC accounts to which Points can be deposited. DC Members can rent either Points or a reservation from other Members but non-Members are limited to renting only reservations. It's very similar to a Marriott Weeks rental - the DC Member makes the reservation and then puts the renter's name on it.

I would think that the Marketplace and other rental boards on TUG are more conducive to this type of rental, of a specific reservation rather than the DC Points themselves.