The Rule of Four and $95 transaction fee for any Disney Vacation Club points reservations made outside of the timeshare component now apply to Disneyland Resort hotels.
In addition to using points for the sixteen native Disney Vacation Club resorts, owners can also book non-DVC destinations like Disney's Caribbean Beach Resort, Disney's Paradise Pier or Disney Cruise Line voyages. DVC refers to this as the Disney Collection. Most Disney Collection reservations require a one-time $95 transaction fee regardless of the length of stay. And they are also subject to what DVC calls the "Rule of Four". The Rule of Four states that members cannot make a reservation AND complete the stay within the last 4 months of their Use Year. (The stay itself can occur in the last 4 months of the Use Year, but the reservation must be made sooner.)
For many years, DVC has waived the transaction fee and Rule of Four for Disney Collection stays at Disneyland. This exception reflected the fact that The Villas at Disney's Grand Californian Hotel was the only native timeshare resort, and its inventory of fewer than 50 rooms made it very difficult to secure a reservation. DVC owners still had the option of booking hotel rooms at the Grand Californian, along with Paradise Pier and Disneyland Hotel, using points through the Disney Collection.
However, with the opening of The Villas at Disneyland Hotel, the DVC room inventory has expanded significantly. As such, Disney Collection reservations are now subject to the added restrictions.
The 2024 Disney Collection points chart for all three Disneyland hotels can be found here.