What is Timeshare?
Timeshare is a legal concept which allows one to own a share of a unit / apartment within a resort development for a determined period. A timeshare interest is therefore the exclusive use of accommodation in property for a determined or determinable recurrent period of time annually.
Timeshare units are priced according to the size of the unit, the amenities provided by the resort, the location of the resort and the season in which the week is sold. For example, in-season weeks will cost more than out of season weeks. By acquiring a timeshare interest in a resort, one becomes an owner in that resort and has rights with regard to usage, and obligations with regard to maintenance and management charges.
Timeshare ownership comes with the responsibility of paying an annual levy, which is paid to the Management Association / Shareblock company – a non-profit body made up of all the owners of the resort. These annual levies pay for on-site management, furnishing replacements, amenities and the general upkeep of common areas as well as amenities like swimming pools and tennis courts.
There are various types of timeshare schemes in existence, with multiple ownership options. These include:
- Fixed week, fixed unit
- Flexi week, flexi unit
- Fixed unit, floating week
- Pooling schemes
- Points clubs
How it translates to Tsogo Sun.
Tsogo Sun was one of the pioneers of timeshare in South Africa when it launched the iconic uMhlanga Sands Resort in the early 1980’s. The success of this project saw the company develop and sell a further 5 timeshare resorts over the next decade. These resorts are today regarded as amongst the best in South Africa and consistently win awards in terms of quality of accommodation and overall holiday experience.
All of Tsogo Sun’s timeshare resorts (under the banner of “Southern Sun Resorts”) were sold on the basis of fixed week, fixed unit. This means that owners own a specific week in a specific unit each year.
Tsogo Sun owns its own timeshare exchange company, SunSwop, which allows all owners of timeshare weeks in Southern Sun resorts to exchange their timeshare week for another property, either in South Africa, or across the world. SunSwop has an affiliation with global exchange provider, Interval International, which provides the international exchange component.
Timeshare related Q and A:
What guarantee do I have that my Timeshare ownership is secure?
Your Share Block Company is run by a Board of Directors elected by the shareholders. Directors are bound by the Companies Act and Share Blocks Control Act to report to the shareholders every year. In addition the company is audited annually by one of the “Big 4” auditing firms and managed by the Tsogo Sun Group, who have many years of experience as pioneers of the South African Timeshare Industry.
What do I need to know about levies?
Levies are raised to cover the operating costs of your Resort and to maintain and protect the assets of shareholders. We spend them on exactly the same day-to-day maintenance and improvement projects that you would undertake to protect the value of your own home. We also try to build up a replacement reserve (of cash), to ensure that we not only maintain the standards of quality, luxury, amenities and service but to improve them in the long run. Directors approve the levies on an annual basis for each Share Block Company. Shareholders receive a copy of the Annual Financial Statements of the Company each year, which reflects the financial situation of the Company. You must pay your levy once a year for each unit you own, regardless of whether you have deposited your unit with SunSwop for accrual or exchange, placed it in the Resort Rental Pool or entered into a Private Arrangement. Your levy statement will be mailed to you five months before the beginning of the period you own and the amount should be paid three months before occupation.
What options do I have if I do not want to use my timeshare week in any given year?
If you are unable to use your week, you may accrue deposited weeks for a maximum period of two years, enabling you to enjoy a future extended holiday. For ultimate flexibility, you may even borrow time from the year ahead. If you choose to accrue and/or borrow time, call SunSwop to make the necessary arrangements on your behalf. Another option is to place your week in the Resort Rental Pool. The Resort itself controls the Rental Pool and helps you to rent out your period at the current hotel rates to casual guests. If you choose this option, you should notify the Southern Sun Resorts Central Administration Office in Umhlanga, in writing, at least 90 days before the start of the week you own. Kindly note that the Resort does charge a nominal administration fee for this service. You may also give your week to a friend or rent it out privately. In this case, kindly notify the Southern Sun Resorts Central Administration Office in writing with the name, address and telephone number of the people to whom you have given or rented your accommodation. Alternatively this can be done on line. The people with whom you have made this arrangement are also required to present a Guest Certificate from yourself upon arrival at the Resort.
List Tsogo Sun Timeshare Resorts
- Cabana Beach Resort - uMhlanga, Kzn
- Beacon Island Resort - Plettenberg Bay, Garden Route
- uMhlanga Sands Resort - uMhlanga, Kzn
- Drakensberg Sun Resort - Central Drakensberg, Kzn
- Sabi River Sun Resort - Hazyview, Mpumalanga
- Pine Lake Resort - Whiteriver, Mpumalanga
Contact info for sales
Southern Sun Resorts has its own accredited agents who are able to sell or rent units on behalf of timeshare owners. These agents have been with the company for many years and are best placed to assist with all re-sale and rental queries. They can be contacted as follows:
Cabana Beach and Pine Lake Resort
Agent – Sue Thompson
Telephone: 031 / 561-2291
uMhlanga Sands and Sabi River Sun
Agent – Gai Gordon
Telephone: 031 / 561-2201
Beacon Island and Drakensberg Sun
Agent – Bridget Wicks
Telephone: 044 / 533-2064
Anything else that you feel is relevant
Link to http://suntimeshare.co.za/