Have any other DVC owners lost their points because of Disney's closures?

[conandrob240]

And if you can afford the dues on 500 points you can afford to not worry about the “worth” you place on them. The points aren’t worth more than what the market will bear at the rental or resale price. That can fluctuate anytime. If that “worth” goes to $0 you can’t blame DVD as you took the risk to spend your discretionary income on luxury.

Nah, that’s BS too. I can worry about the worth of my points all I want. Especially since the use of my points in question is a pending rental for which I have already collected her money. You don’t get to decide what I can be upset about about and what I can afford. That’s very rude and presumptuous

but I may as well just add it to the miserable pile of financial ruin laid out at my feet right now.

 

[BlueRibbon]

The thought of losing points is a bitter pill, and I feel for those who are at risk right now. We all have decided to buy DVC because it's what is important to us. That doesn't mean that the majority of us are swimming in money and can afford to take the hit. We all work very hard for these points. With that said, I posted this in another thread, but today's email from DVC states the following:

"In addition, some Members may have questions about reservation cancellations involving Points that are set to expire soon. At this time, we are evaluating the banking and expiration policy and the use of certain Points impacted by the closures. As a part of our evaluation process, we need to be considerate of the impact any changes could have on future inventory availability for the Membership overall. A decision will be made when we better understand how long COVID-19 will impact our operations. "

They understand the situation and are trying to figure out the best way to accommodate folks who are in this tight spot. Surely there are legal ramifications they need to work through as well as logistical/operational concerns. We'll have to wait and see what they come up with.

 

[conandrob240]

I hope they come up with some solution.

if you have a rental booked for these dates and you’ve already collected the money from the traveler. Assuming then that the points wind up being forfeited because Disney won’t extend the expiration date, then what? What would you do?

 

[Sandisw]

I hope they come up with some solution.

if you have a rental booked for these dates and you’ve already collected the money from the traveler. Assuming then that the points wind up being forfeited because Disney won’t extend the expiration date, then what? What would you do?

I read one post in which the owner does have the clause to cover this..the inability to deliver the reservstion due to no fault of either party and the remedy is the renter gets back 50%.

My rental is through a broker, but renter doesn’t check in to August. If resort is still closed, I will refund the money.

 

[conandrob240]

Mine is April 30 so the chances I have to face this are very real. I will add that clause to future bookings for sure. Right now it’s no refunds wording. This sucks.

 

[conandrob240]

I read one post in which the owner does have the clause to cover this..the inability to deliver the reservstion due to no fault of either party and the remedy is the renter gets back 50%.

My rental is through a broker, but renter doesn’t check in to August. If resort is still closed, I will refund the money.

Curious what your brokers policy is with this? Please share if you are able.

 

[Sandisw]

Curious what your brokers policy is with this? Please share if you are able.

The broker right now is trying to appease everyone,,,see the many threads,

Right now, it seems they have decided to hold back from owners the 30% paid at check in in an effort to get them to reschedule the renters.

Many owners are trying. But, this broker has made a statement that the contract between him and the renter is void and asking owners to refund the 70%. He is also facing a lot of CC disputes from renters so he’s trying lots of different things to satisfy both.

So, it’s still up in the air because he can’t force owners to return the. 70% but does have the ability...right or wrong...to hold that other part.

The

 

[AZMermaid]

I dont think there’s any great solution here. One thought... and this could totally violate timeshare laws so just thinking out loud here is maybe these cancelled expired points could fall into a newly created extended holding type scenario to lessen the impact of the overall inventory. Like a 4-5 month booking window when using these particular points which are just good for one additional use year. My guess is this requires amending Everyone’s contracts which likely involves some sort of vote or something? I’m not super knowledgeable here!
Otherwise, the Riveria idea was also a good outside the box solution!

 

[conandrob240]

The broker right now is trying to appease everyone,,,see the many threads,

Right now, it seems they have decided to hold back from owners the 30% paid at check in in an effort to get them to reschedule the renters.

Many owners are trying. But, this broker has made a statement that the contract between him and the renter is void and asking owners to refund the 70%. He is also facing a lot of CC disputes from renters so he’s trying lots of different things to satisfy both.

So, it’s still up in the air because he can’t force owners to return the. 70% but does have the ability...right or wrong...to hold that other part.

The

I’m not sure I understand. So the broker is KEEPING the 30% but expecting owners to refund the 70%

 

[Sandisw]

I’m not sure I understand. So the broker is KEEPING the 30% but expecting owners to refund the 70%

Right now, reports are they broker is not returning that and asking owners to please refund or reschedule.

Some have been able to reschedule but some cant due to expiring points so those owners are still working it out,

The threads about David’s is where you can find lots of info!

 

[mrsg00fy]

If they bend the rules to allow owners to Unborrow them they need to allow those past the banking windows to bank.
The rules are the rules and if you bend for one you have to bend them for all. Borrowed points were taken out of their use year. Why should these be returned but those of us with June use years with reservations lose our points?

 

[conandrob240]

If they bend the rules to allow owners to Unborrow them they need to allow those past the banking windows to bank.
The rules are the rules and if you bend for one you have to bend them for all. Borrowed points were taken out of their use year. Why should these be returned but those of us with June use years with reservations lose our points?

This doesn’t make sense. Any emergency policy to deal with these extraordinary circumstances needs to apply to the dates of closures and existing reservations. So if it’s closed March- June, anyone 1) with a pending reservation with points 2) that would expire in March, April, May & June have to be accommodated. Not every DVC owner for all of 2020.

 

[LAX]

I think no matter what DVD/DVC eventually decides on, someone will be left disappointed as there really is no perfect solution. I think every owner should be prepared to take their share of the hit, be it perceived fair or not.

LAX

 

[mrsg00fy]

I guess I should have been more clear. I AM impacted by these emergency measures. I have a reservation for 4/18 and I have a June use year. With how the policy is stated on the website I will lose my points when dvc cancels my reservation.

I do have an issue with having to basically eat my points and see others with borrowed points made whole.

 

[Heather07438]

DVD's probably having a hard time deciding what to do because even if the parks reopen in the near future, there's a possible they get shut down again at some point if the situation starts boiling again.

With that in mind, people would expect consistency for the next time. They can't gauge the overall impact yet because nobody knows how long closures of public gatherings will last or if closures return again at some point months from now.

I feel for anyone caught up in this mess. My family is out alot on travel too including a trip we saved 4 years for and possibly some of the money we already put out for our next WDW trip. Not to mention losses from work, investments, etc. But we are all in this together and there's nowhere to shift all the responsibility. Knowing I'm not alone makes it easier to swallow my lumps. There are very few people unscathed, if any. Outrage will only raise my blood pressure and nobody wants that right now

 

[_auroraborealis_]

Disney likes building DVC because it distributes maintenance and risk. I think many members have been blissfully unaware of that latter.

This is that risk. And you fundamentally agreed to it by contract.

 

[Tony]

If the closure lasts more than, say, 8 weeks, and DVC do allow points to be rolled forward, do we not end up in a situation where the number of points expiring in the next 2 years will exceed the available inventory over the same period?

I'm thinking that in itself will cause problems with the owners' agreements.

 

[Sandisw]

I guess I should have been more clear. I AM impacted by these emergency measures. I have a reservation for 4/18 and I have a June use year. With how the policy is stated on the website I will lose my points when dvc cancels my reservation.

I do have an issue with having to basically eat my points and see others with borrowed points made whole.

I think the reason they could make the decision about borrowed points now, and have to wait and figure out a plan, if any, for banked and expiring points is because borrowed points come from a UY that still has the rooms in service,

Banked points come from UYs that represent rooms already gone, I think that is why it’s not as simple to treat each the same way.

I think the fact that they have said they are trying to figure it out means they are trying. Again, we don’t know how many points in each status there are and I’m sure that plays a role In trying to figure it out,

 

[Sandisw]

If the closure lasts more than, say, 8 weeks, and DVC do allow points to be rolled forward, do we not end up in a situation where the number of points expiring in the next 2 years will exceed the available inventory over the same period?

I'm thinking that in itself will cause problems with the owners' agreements.

Yes, and that is why it’s a very difficult situation for DVCM, The system is set up so points, at most, have a 2 year use.

Allowing banked points to be banked again, gives them an extra year, not built into the system.

That is why this is a tough spot for DVCM because they are obligated to make sure whatever changes to the rules that are made right now can be accommodated in such a way that it doesn’t create the same..or worse issue...down the road in terms of no rooms,

 

[icc2515]

This is a super bad situation for a lot of owners with expiring points affected by this situation. I am in the same situation. I have a May reservation with a June use year. I know those points are gone. I always tell people that ask me about DVC that I love it. But there is a seedy greedy side that very few talk about. DVC members are second class citizens as far as Disney is concerned. They already have our money and somebody will always pay the maint fees or DVC can take back the points. They have absolutely no reason to do anything for us other than trying to escape bad PR which could lead to lower DVC sales. You could not use your points and never go again, but hey they make out on that. Threaten to sell your points, they don't care they already got your money.

The only way that DVC is gong to do anything for us is to alert some news media and let them run stories about how the "Disney timeshare owners" are getting hosed the the big corporation. Disney really really cares about something that could affect their DVC cash cow. Paying out a few million in resort stays is nothing compared to the hundreds of millions at stake with the bad timeshare reputation. I would be more than happy with some free All Star vouchers or Moderate vouchers. Something is better than the nothing we are gong to get.