Renting out DVC points

[A&A]

Has anyone had any luck in renting out points ? we have 252 at the BCV to rent out and another 252 available from April.
Would to prefer to rent to UK travellers but open to offers.

 

[jackieleanne]

I have rented out my points a few times now, not via private transaction but using Davids DVC. Always been fine and managed to sell my points really quickly.

 

[A&A]

I have rented out my points a few times now, not via private transaction but using Davids DVC. Always been fine and managed to sell my points really quickly.

Thanks

 

[stal]

Has anyone had any luck in renting out points ? we have 252 at the BCV to rent out and another 252 available from April.
Would to prefer to rent to UK travellers but open to offers.

I’d be interested in learning how to rent DVC points off of members like yourself.

 

[Robbie Cottam]

I have been renting points on and off since 2013….
what would you like to know

 

[Ronaldo17]

We've done it a few times since COVID on the Disboards DVC tent/trade forum, always get the points rented quickly with no problems.
Read the yellow post it guides first at the beginning of the Rent/trade forum, these explain everything you need to know.
We use PayPal friends and family for payment from renters.(mostly US, payment in US$

 

[AdamDVCdad]

I’m new the the whole renting points thing but joining the groups on Facebook gives you a good sense of what sells. Also being blue to sell via PayPal makes the most sense.

 

[Ruttangel]

The thing with renting is that no-one seems clear on how much rental income you can bring in without declaring it to tax man.
There seems to be an allowance of £1k per owner tax free. But is that gross income or income less capital element of dues.
Some people don't care and don't report, I'm staying under £1k just in case.

 

[gavvy]

I've rented on here in the past with no issues, you need to have I think 50 posts in the last 6 months or something to be able to do it, otherwise you will have to pay a membership fee- its not much though.

Used David's too - v good service as well and easier

 

[Robbie Cottam]

The thing with renting is that no-one seems clear on how much rental income you can bring in without declaring it to tax man.
There seems to be an allowance of £1k per owner tax free. But is that gross income or income less capital element of dues.
Some people don't care and don't report, I'm staying under £1k just in case.

In the US if you use PayPal they are required to report it all as income.

 

[Ruttangel]

I've rented on here in the past with no issues, you need to have I think 50 posts in the last 6 months or something to be able to do it, otherwise you will have to pay a membership fee- its not much though.

Used David's too - v good service as well and easier

Hi How did you get on using the boards To rent? Any lessons learned I would need to know about, did you just get funds through Pay pal friends and family? Any US tax implications using this forum as I know David’s is in Canada?

 

[gavvy]

Found using the boards straightforward. I made it clear I would only accept P:aypal Friends and family and everyone was happy with that and made it non refundable (unless there was a closedown). My points rented quickly, in a week or so they had gone.

David's was even easier, they too rented in a week, no tax implications as he's in Canada and I'm in UK. There maybe UK tax implications on all rentals as it's income, Paypal friends and family is basically one person sending another money so it's down to you to declare any income in the UK, no USA implication. I think you can earn £1000 a year with nothing to do though- and if you don't work you get the 12k basic allowance anyway.

David pays I think 70% straight away and 30% on check in, was all quick and easy.

David's is easier but you can get more money going on the boards here, depends if you are willing to put the effort in or not, the difference can be a few hundred if you have a lot of points to rent.

 

[Ruttangel]

Found using the boards straightforward. I made it clear I would only accept P:aypal Friends and family and everyone was happy with that and made it non refundable (unless there was a closedown). My points rented quickly, in a week or so they had gone.

David's was even easier, they too rented in a week, no tax implications as he's in Canada and I'm in UK. There maybe UK tax implications on all rentals as it's income, Paypal friends and family is basically one person sending another money so it's down to you to declare any income in the UK, no USA implication. I think you can earn £1000 a year with nothing to do though- and if you don't work you get the 12k basic allowance anyway.

David pays I think 70% straight away and 30% on check in, was all quick and easy.

David's is easier but you can get more money going on the boards here, depends if you are willing to put the effort in or not, the difference can be a few hundred if you have a lot of points to rent.

Cheers, yes used David’s before, super easy.
Under offer on a BCV Contract that comes with 2022 points which need using by 30/11/2024 and probably not going next year, BCV seems to go for up to $22pp but David’s $18pp, 150pts so $600

 

[gavvy]

$600 is a big chunk of dues paid!

 

[RoseGold]

This thread has some really bad tax advice. Nonresident aliens doing business in the US, which is what renting out (or selling) real estate in Florida is, don't have a minimum threshold, and they have to pay taxes on US income. That's the actual rule. FL doesn't have an income tax, but if you were renting out HI or CA or SC, you'd probably owe there too.

Just because David's is in Canada doesn't mean they can't issue 1099s (which the IRS also gets) for US activity. I thought they did issue 1099s?

https://www.taxesforexpats.com/guides/1040NR-Non-Resident-Guide.html

 

[gavvy]

This thread has some really bad tax advice. Nonresident aliens doing business in the US, which is what renting out (or selling) real estate in Florida is, don't have a minimum threshold, and they have to pay taxes on US income. That's the actual rule. FL doesn't have an income tax, but if you were renting out HI or CA or SC, you'd probably owe there too.

Just because David's is in Canada doesn't mean they can't issue 1099s (which the IRS also gets) for US activity. I thought they did issue 1099s?

https://www.taxesforexpats.com/guides/1040NR-Non-Resident-Guide.html

Sorry this is Wrong and you are giving bad advice. The UK has a tax agreement with the USA to avoid double taxation, if its taxable in the Uk it's not taxable in the USA. The tax is paid in UK, therefore UK law applies.

Same as If I were to sell my contract, no tax is payable on the gain in UK, however there may be a liability in USA as that's a taxable event there.

https://assets.publishing.service.g...a/file/507431/usa-consolidated_-_in_force.pdf

 

[RoseGold]

Sorry this is Wrong and you are giving bad advice. The UK has a tax agreement with the USA to avoid double taxation, if its taxable in the Uk it's not taxable in the USA. The tax is paid in UK, therefore UK law applies.

Same as If I were to sell my contract, no tax is payable on the gain in UK, however there may be a liability in USA as that's a taxable event there.

This is the other way around. If renting is exempt in the UK, as you seem to think it is, that doesn't remove US liability as a non resident alien doing business in the US. The IRS does not care if the UK thinks that rental income (or property sale) in FL is not taxable.

 

[gavvy]

This is the other way around. If renting is exempt in the UK, as you seem to think it is, that doesn't remove US liability as a non resident alien doing business in the US. The IRS does not care if the UK thinks that rental income (or property sale) in FL is not taxable.

You mis understand, renting is subject to UK tax laws, it's not exempt. I never said it was exempt, it is subject to UK law under the duel tax agreement that has been in place for many many years.

https://redirect.viglink.com/?forma...a/file/507431/usa-consolidated_-_in_force.pdf

 

[RoseGold]

You mis understand, renting is subject to UK tax laws, it's not exempt. I never said it was exempt, it is subject to UK law under the duel tax agreement that has been in place for many many years.

Still backwards. If you don't pay tax in the UK, then there's no dual taxation, that's what dual taxation means, paying taxes in two places.

Just because it isn't taxable in the UK (just like your regular US income would be BTW), doesn't mean it isn't taxable in the US. The IRS doesn't care that there's no king's share. The IRS still wants its piece.

 

[gavvy]

Again mis understand. It is taxable in UK. It's taxed under UK rules.

If it wasn't then yes the IRS would want it. But the agreement is there to stop double taxing.

Rental income is treated like income tax in UK and is subject to UK rules including any allowances.