Vacation ownership is a term that includes a variety of products relating to ownership and or use of vacation & leisure related benefits not entirely relating to real estate. The most common forms of vacation ownership are Timeshare, Fractional Ownership, Holiday and Private Residence Clubs; these however are just a few of the ownership options that are available. Here we will discuss each product in further detail.

Fractional Ownership

Fractional Ownership is typically linked to luxury vacation homes, apartments and villas. The concept of fractional ownership, which literately means shared ownership with shared usage, can be applied to a wide range of leisure use assets such as real estate boats, planes and even supercars. Fractional Ownership is a product of the vacation ownership industry and marketed as a hassle-free option between whole ownership and timeshare. Fractional real estate shares are mostly sold individual holiday homes, with each shareholder being allocated one to four week usage right modules, owners can user their allotted time either at the residence or exchange their time in a vacation exchange program affiliated to the resort.

Private Residence Clubs

A Private Residence Club is the most lavish form of vacation ownership in real estate. PRC Memberships are typically sold in a luxury residence decorated to the highest standards, with the level of guest services that you would find at a five star hotel. Private Residences are located within an established vacation resort that is operated by a five star hotel. Members will have full access to resort facilities and services such as golf, spa and concierge. Private Residence shares will offer owners flexible international exchange into other luxury vacation residences and resorts around the world.

Conventional Timeshare

Over the past 20 years, Timeshare is the most popular form of shared vacation ownership in countries such as the USA, Spain and South Africa. Many managed holiday resorts around the world offer a form of timeshare ownership, whereby owners can buy and use fixed weeks in a specific holiday unit or vacation lifestyle resort, or buy floating weeks which offers usage in a particular season each year. Timeshare owners have the flexibility to bank their weeks, for exchange into other globally affiliated resorts at a later stage. Ownership rights typically last for a defined period, which can range from 10 to 50 years, and most timeshare owners sell their weeks after a certain time-frame.

Holiday Points Clubs

Holiday Points clubs provide a vacation ownership option whereby points owners can purchase pre-paid holiday time within a portfolio of affiliated holiday resorts around the world. The values of the points are determined by the week, general quality and size of the vacation accommodation as well as the facilities within the resort. Holiday Points clubs offer owners the option to pre determine their chosen vacation destination, and then use their points as a currency to book the accommodation. Typically, points can be saved or banked for usage in the following year, as well as borrowed in advance for usage this year.

Syndication

Syndication provides an opportunity of multiple owners who group together in order to purchase an asset. For many generations friends, families and co-workers have grouped together to co-own vacation homes, boats and real estate. Syndication of holiday homes is very widespread in South Africa; you just need to visit one of the many golf estates or game parks to see how many holiday homes are actually syndicated. Syndication and Fractional Ownership are very similar; however syndicated homes are not likely to be professionally managed as the case with fractional homes.

Sectional Title hotels

Sectional title hotel rooms provide investors a vacation ownership option to buy into rooms situated within a hotel. The sectional title owners enter into an agreement directly with the hotel, which is commonly known as a rooms revenue agreement. Agreements like these will entail leisure usage of your hotel room or suite for a defined period each year, for example 4 weeks over the year, the residual time available in the hotel room can be rented out by the hotel operator, the room revenue is then pooled and distributed amongst the co-owners within that room or suite.

Vacation Exchanges

Vacation Exchange companies provide a vital value added platform for all levels of vacation owners, allowing them to exchange time within associated residences all over the world. Collectively the leading vacation exchange companies provide the gateway of time based exchanges for millions of owners worldwide. Fractional, Timeshare and Condo hotel resort developers affiliate their inventory with the exchange companies in order to provide their members with the chance to vacation at a holiday destination of their choice.

Vacation Rentals

Vacation rentals are a great way in which holiday home owners rent out un-used time in their properties. The majority of Timeshare, Fractional, Private residence club and Syndication owners have the flexibility to rent out their allocated weeks in order to receive an income. Here, you will find a variety of holiday homes for rent across the globe with full details of the holiday home for rent such as the price and contact details, which are clearly displayed for. We offer you the opportunity to list your vacation rental absolutely free!

Industry Regulation

The vacation ownership association of South Africa (VOASA) is an independent regulatory body for the vacation ownership industry in South Africa. Formerly named TISA it was renamed to incorporate the growing sectors within the leisure ownership market, such as Fractional Ownership, Private Residence Clubs and Holiday Points clubs. VOASA is recognized by the Department of Trade and Industry as the self regulatory body for all market sectors including Timeshare, Vacation Exchanges as well as Resort Management.