Why should I buy from a VOASA accredited member?
Member companies of VOASA agree to adhere to the VOASA Code of Conduct. Violations attract penalties, which includes the blacklisting of transgressors.
What role does VOASA play with regards to consumers?
As the self-regulatory body for the shared vacation ownership industry one of VOASA’s major objectives as far as consumers are concerned is to provide information and offer a mediation service.
What is the difference between conventional timeshare and the points-based system?
Timeshare – A term used to describe a method of use and / or shared ownership of vacation real estate where purchasers acquire a period of time (often one week) in a unit or other type of vacation accommodation. Timeshare is also known as “vacation ownership” or “shared vacation ownership”.
Points – A “currency” that represents shared vacation ownership usage and is often used to calculate a value for seasons, unit sizes and resort locations. Points are used by some developers for both internal and external exchange.
What are levies and why do I have to pay them?
Shared vacation owners are required to pay a levy, usually on an annual basis, to cover the running costs of a resort, which includes the daily management, upkeep and improvements.
Can I cancel my purchase agreement?
In every shared vacation ownership purchase contract you will find a clause which is often referred to as the “revision”, “cool down” or “cancellation” period. A period of time during which a consumer has the right to cancel a purchase contract and obtain a full refund of his/her deposit with no penalty. This is contained within the New National Credit Act, the Estate Agency Affairs Act and is also stipulated in VOASA’s Code of Conduct. The Revision or “cooling off” period is 5 working days.
Written notice of the withdrawal must reach the seller within the 5(five)-day period, at an address which must be contained in the contract. An electronic address and facsimile number must also be given and receipt of facsimile, email, telexes, telegrams or phonograms are stipulated as sufficient written notice by the purchaser.
This is just another example of the strong consumer protections built into shared vacation ownership sales.
Where can I buy shared vacation ownership products?
Browse through our membership directory for a list of VOASA accredited shared vacation ownership companies.
How can I sell my shared vacation ownership interest?
There will of course be situations where owners may need to dispose of their shared vacation interest/points. However, as shared vacation ownership is regarded as a long-term investment in holidays, as opposed to an investment in real estate, it could be unrealistic to rely on realising the original purchase price.
Bear in mind that some resorts/unit sizes are far more popular than others and; as sales depend on current supply and demand it is not always possible to guarantee a date for resale. Browse through our membership directory for a list of VOASA accredited resales brokers and read the resale guidelines to ensure you are well informed before proceeding with this transaction.
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