Original Message:
Re: Point Potential Rental Program (red flags) (by Tim B.):
Hello
My parents have been Wyndham owners for several years. They were approached by Point Potential, intrigued by the promise of eliminating their maintenance fees, they agreed to their online demo. My parents are not business people and asked me for my help in checking out their program. They have 500,000 to 600,000 points they don’t use and would have been able to use for the rental program. Despite these extra points, Point Potential wanted them to spend $6000 and buy more points in order to get into their rental program.
My parents received the contract for the Point Potential rental program. The disturbing thing in their contract there was NO written commitment to do rental. There was no mention of how much rental they will do and for how much money. So, my parents would be investing money to buy more points and they’d be at the mercy of Point Potential as to getting any rental done.
My attorney informed me that everything in a real estate transaction needs to be in writing. Verbal assurances, statements or promises are NOT enforceable. The company could discontinue the rental program at any time, and we'd be stuck with extra points that are not needed.
If Point Potential was committed to do rental like they say they are, then they would commit to it in writing and put it in the contract and be specific about how much rental and for how much.