TIMESHARE  IN  A NUTSHELL

Shared timeshare vacation ownership takes the hassle out of second home ownership. You are purchasing future holidays at today’s prices and for just the period of time you need.

Make a ONE-TIME PURCHASE of furnished resort accommodation at a fraction of whole ownership costs and pay an annual levy, which is used to cover the costs of running the resort, including daily management, maintenance and improvements.

ANNUAL LEVY:  All holiday resorts whether they be timeshare or not are faced with exactly the same running costs – for example, rates, taxes, staff wages, maintenance, linen, cutlery, and so the list goes on. Therefore, if a timeshare resorts increases its levies so do the standard holiday resorts in the way of daily tariff charges. The difference is that timeshare owners have a direct control over the setting of the levies through the annual general meeting held by the owners of all the other timeshare modules (see below) which is paid to the Management Association – a non-profit body made up of all the owners of the resort.

Standard holiday resorts are governed by themselves and can charge what they feel justified in doing and they naturally make a profit from their tariff charges. IT IS CHEAPER TO PAY A TIMESHARE LEVY THAN TO PAY THE USUAL HOLIDAY RATES CHARGED BY STANDARD HOLIDAY RESORTS.
Each residential unit is divided into periods (time modules) usually weeks that are sold separately.

A shared timeshare vacation ownership interest is therefore the exclusive use of accommodation in property for a determined or determinable recurrent period of time (time modules) annually. Shared vacation 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.

HOW RCI WORKS IN A NUTSHELL

You purchase a unit in a timeshare resort for a specific week and join RCI for fee. The membership fee to join RCI ranges from R2 610.00 for three years to  R3 999.00 for 6 years.   You will be allocated a number of RCI Points according to the criteria of timeshare you own.  The criteria used is as follows (this a rough guide but it is pretty accurate and will give you a good idea of how the exchanges work:- The resorts are divided into Gold Crown (5-star quality); Silver Crown (3-star quality) and Lifestyle (standard family type resort). The size of your timeshare module also has a bearing, be it a one bedroom, two-bedroom or three bedroom unit. The time of the year is also a factor, for example a School holiday period will attract more Points than an out-of-season timeshare module. Therefore, if you own in a two bedroomed Gold Crown resort in a school holiday you will receive more RCI Points than you will if you owned in a two-bedroomed Lifestyle resort in a school holiday period. RCI issue you with a Points list of the resorts in their exchange portfolio so that you can select the holiday you want.   Timeshare holiday 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. The RCI exchange works like a banking account … the number of Points that you deposit into the RCI “SpacebanK” is the number of Points you can withdraw to go to another resort at another time. Peak holiday Periods can ONLY be exchanged into Peak holiday periods at another resort. You cannot own an out-of-season week and expect to go into a Peak period. If, for example, you have 3000 RCI Points and you choose a time and resort that has 2500 Points you will have 500 Points left over in your Spacebank. If you do not use your Points for the first year you can accumulate your Points and have double the amount for the next year. You can only accumulate up to three years of Points and the Points must be used with three years from the time you Spacebanked the. RCI will give you access to exchange into any of their more than 4 000 resorts in over 100 countries around the world as well as to over 170 resorts in Southern Africa. Holiday ownership gives you the opportunity to fix your future holiday costs at today’s prices.

RCI Points must not be confused with other commercial Points Clubs.

Extra Holidays Bonus

Once you’ve deposited your timeshare into the Spacebank, you’ll be eligible for 35 days Extra Holidays Bonus every year.

These may be booked at selected RCI-affiliated resorts around the world, subject to availability.

Your Points will not be used for this booking, but you will pay a special Bonus fee that, on average, is lower than the same accommodation on the open market.

Bonus breaks need to be booked in the same year of your qualifying deposit.

Extra Holidays Rentals

Extra Holidays Rentals are available to all RCI members, whether they have deposited their ownership or not.

You can select from any of RCI’s rental portfolio of resorts around the world, paying a special RCI member-only rate. This accommodation can cost up to 50% lower than the same accommodation on the open market.

RCI has sourced local and international rental properties for your benefit, to ensure you can travel to the best destinations in any season without using your Points. You can enjoy as many RCI Rental holidays as you like.