Clarification on David's rental situation

[Marionnette]

Have they said what will happen if they don’t find a renter before the points expire? Will you get paid regardless?

@Jen F17 I'm still interested in an answer. Has David's assured you that you will be paid even if your points do not get rented before they expire?

 

[_auroraborealis_]

It sounds like David's is taking new rental requests right now, but not rebooking voucher holders.

Suggests a lot of bad things.

 

[Maddiesmum03]

It sounds like David's is taking new rental requests right now, but not rebooking voucher holders.

Suggests a lot of bad things.

They are taking voucher bookings. I know because I have re rented my points and new renters only had a few $ to pay to make up the deficit between voucher and new booking. The booking is for next March.

 

[Marionnette]

They are taking voucher bookings. I know because I have re rented my points and new renters only had a few $ to pay to make up the deficit between voucher and new booking. The booking is for next March.

I’m curious as to how you know this. Does the new rental agreement show that a voucher was redeemed?

 

[Maddiesmum03]

I’m curious as to how you know this. Does the new rental agreement show that a voucher was redeemed?

This was included in the wording of the rental agreement forwarded to me:

• Total payable by Renter to Intermediary:
  $xxxxxxx US Dollars
• Total Credits Applied
  $xxxxxx US Dollars (Credit Code xxxxxxxxxxxx)
• Total Paid to Intermediary now:
  $20.00 US Dollars
• Balance Owing
  0 US Dollars

 

[Marionnette]

This was included in the wording of the rental agreement forwarded to me:

• Total payable by Renter to Intermediary:
  $xxxxxxx US Dollars
• Total Credits Applied
  $xxxxxx US Dollars (Credit Code xxxxxxxxxxxx)
• Total Paid to Intermediary now:
  $20.00 US Dollars
• Balance Owing
  0 US Dollars

Thank you. It certainly does appear as it was a voucher being used for the bulk of the rental cost. Can I ask when you made the reservation for the new renter? Was it right after the vouchers began to be issued or was it more recently?

 

[Maddiesmum03]

Thank you. It certainly does appear as it was a voucher being used for the bulk of the rental cost. Can I ask when you made the reservation for the new renter? Was it right after the vouchers began to be issued or was it more recently?

This reservation was made at the end of April. It was made for a reservation at the 11 month window.

 

[Grumpy by Birth]

It sounds like David's is taking new rental requests right now, but not rebooking voucher holders.

Suggests a lot of bad things.

 

[_auroraborealis_]

My guess would be that a proportion under 50% of those owners who had received 70% of owed funds have come back into the flow to re-rent. So people with vouchers are subject to how many of the pre-paid points are out there, because David's wants to use new points for cash bookings to pump up their cashflow (commission + the 30% escrow as cashflow now).

 

[Deb & Bill]

I think everyone needs to just drop the term "70%", because the owners who rented their points did not get 70% of what the renter paid. The owner who rented points got about 54% of the total payment to David. David has the rest, about 46%.

 

[Grumpy by Birth]

I think everyone needs to just drop the term "70%", because the owners who rented their points did not get 70% of what the renter paid. The owner who rented points got about 54% of the total payment to David.

True... the 70% figure represents that the owner has only been paid 70% of the amount that is owed to them, not 70% of the total paid by the renter.

David has the rest, about 46%.

 

[Yinn]

The e-mail from David's may have implied that the 70% would be refunded to the renter (it's understandable that this would be a more favorable impression to leave the owner with) but, as others have reported, it's more likely that the renter actually still received a voucher "funded" by the money that was returned.

But those funds almost certainly won't be tucked away in escrow waiting on the renter to redeem their voucher. On the contrary, the funds will be used to cover immediate costs and, hopefully, funding will still be available when renters attempt to make new reservations with their vouchers.

I have one reservation in which I refunded and specifically asked for it to be returned to the renter. There was no direct confirmation but it was implied when they acknowledged by request. What David's does not know is that my renter and I have been in contact. When I refunded I told my renter and asked they confirm when they received it. They waited weeks and never heard from Davids and I finally cancelled on my end to let them pursue a chargeback.

 

[Disneypapa]

There are many things to dislike about this mess. One of the bigger problems is that renters are only being offered a voucher for future travel and not a cash refund. That voucher is likely to be worthless or un useable by the renter. As an owner if I returned the 70%, it looks like David will keep the cash and only give the renter this worthless voucher. As an owner I then have points that cannot be banked (already banked once) and unless DVC gives me an extension, must be rented in 90 days before they expire.

 

[ford91exploder]

Perhaps I am remembering this wrong, but didn't Disney close down voluntarily just before the government would have forced the shutdown? If so, reservations that occurred during that time should be considered closed by Disney and not due to a force majeure, correct?

You would be correct, But I doubt Clarence Darrow himself could convince a judge that was not a Force Majeure event. At least for now judges are human too...

 

[AquaDame]

I have one reservation in which I refunded and specifically asked for it to be returned to the renter. There was no direct confirmation but it was implied when they acknowledged by request. What David's does not know is that my renter and I have been in contact. When I refunded I told my renter and asked they confirm when they received it. They waited weeks and never heard from Davids and I finally cancelled on my end to let them pursue a chargeback.

That definitely does not sound good.

 

[badeacon]

This was included in the wording of the rental agreement forwarded to me:

• Total payable by Renter to Intermediary:
  $xxxxxxx US Dollars
• Total Credits Applied
  $xxxxxx US Dollars (Credit Code xxxxxxxxxxxx)
• Total Paid to Intermediary now:
  $20.00 US Dollars
• Balance Owing
  0 US Dollars

I also did a re rental on Friday and received agreement with similar wording and showing Credit code and paying $7 more.

 

[twinkle49]

I have a question for those of you who re rented your points...did you agree to the new agreement where you would need to refund if the resorts are closed or pay for the difference if a different accommodation was needed? I understand if you don’t want to share what you did. I just am trying to decide what to do as I received an email from David’s today asking to refund 70% if possible or re rent if possible, I just don’t agree with the new agreement wording and trying to figure out what to do. Knowing that my original renters are not going to get the actual money back I don’t plan on refunding the money just trying to decide if we should re rent the points.

 

[cm8]

I have a question for those of you who re rented your points...did you agree to the new agreement where you would need to refund if the resorts are closed or pay for the difference if a different accommodation was needed? I understand if you don’t want to share what you did. I just am trying to decide what to do as I received an email from David’s today asking to refund 70% if possible or re rent if possible, I just don’t agree with the new agreement wording and trying to figure out what to do. Knowing that my original renters are not going to get the actual money back I don’t plan on refunding the money just trying to decide if we should re rent the points.

Offer him a one time use voucher good for x amount through 24 months one time use only.... Make sure to mention that you will retain the rights to keep the $$$ and charge him a fee to re rent due immediately (and)before you will re book for the 30% he has in his possession. If he doesn’t agree to the terms, You know why....

Also, tell him you will draw up the contract in your favor where all the power reverts back to you and he is liable for any closure going forward and the price difference. Let us know what he says once you do.....


In all seriousness though, I believe it has been mentioned that one other person (Owner) has agreed to re rent but said that he/she did not
accept the terms as he has them
listed now. Hopefully, they can chime back
in to assist you further.

 

[Maddiesmum03]

I have a question for those of you who re rented your points...did you agree to the new agreement where you would need to refund if the resorts are closed or pay for the difference if a different accommodation was needed? I understand if you don’t want to share what you did. I just am trying to decide what to do as I received an email from David’s today asking to refund 70% if possible or re rent if possible, I just don’t agree with the new agreement wording and trying to figure out what to do. Knowing that my original renters are not going to get the actual money back I don’t plan on refunding the money just trying to decide if we should re rent the points.

I think I am the owner in question
I posted this on the other thread:
I got my 30% on re renting the points, not on the new check in date. I did not care for the wording of the new contract that was sent after payment, because it had that same bit about the owner having to pay the $$$$ renters paid for the reservation if accommodation is not available, or even more if David's chooses alternative accommodation for more money!!!!
I emailed back stating that the reservation had been made with goodwill, the money I received was for my original contract which is now complete, I do not accept the contract sent represents the circumstances of the re rental of points and that I would categorically not refund any money for this reservation if Disney decides to shut the resort, but I would again try to re rent for another date (they are Aug 2020 points so will still be good for a while yet!) . I had a reply confirming payment was for the original rental and this was just their standard contract. I'm not 100% happy, but will just have to see how things pan out for next March and at least I have the email trail but they did thank me for offering to re rent if the situation continues so I am hopeful they know this will be my only course of action if Covid is still messing things up.

 

[MIDisFan]

Not true! Based on the first contract, your reservation was refundable if no accommodation was provided. The new contract for the voucher has the following: "In the event of a global pandemic, natural disaster, force Majeure or any other event outside the reasonable control of David's Vacation Club Rentals, this Credit remains non-refundable and no modification, cancelations or rebooking will be permitted. "
And there are many more clauses!! I wish people would stop assuming things without reading all the contracts and all the discussions from previous threads/posts!

As others have pointed out for me. I stated IF you are comfortable with the voucher, the new contracts would carry less risk than than the previous for renters.in regards to cancellations. It's true that under the current contract renters SHOULD get a refund as long as they weren't at fault for the cancellation. I'm not aware of anyone that has accomplished that through the brokers. The problem is the contract was not clear and had no force majeure clause. Therefore the current issue is who is at fault for the cancellation. The new contracts address that and seem to be clear on how an event of this nature would be handled. If you feel, as a renter, the new contract creates greater risk, you have other options. I've only seen sections of the new contracts, in all the threads/posts on this board as well as others, so if there's anything else I may be missing could you please post it for the rest of u.