Silver Sands is a timeshare resort. Timeshare is basically an arrangement where you prearrange your holidays for the future. Purchasing a share in a Resort entitles you to a week of high quality holiday accommodation at your home resort or by joining an affiliated exchange company opens up some of the most luxurious Resorts worldwide.
General Information On Timeshare
Resort timesharing is one of the greatest developments of recent times in the direction of better holidays – regular, affordable, high quality and good value.
Resort timesharing has been successful around the world for the very reasons set out in these pages, and has almost unlimited potential in Australia.
In Australia, the product is still relatively unknown to many people, and whereas it has important and valuable benefits, there is also the potential for misunderstanding or incorrect use.
When you purchase a timeshare week, you either get a fixed week (red) or a floating week (white or blue). The reason the weeks are split into red, white or blue is because the demand is higher in holiday times than off peak time, therefore a fixed holiday week is usually more expensive to buy than a floating white or floating blue week.
What Is Timeshareing?
The basic concept underlying resort timesharing is simply a group of people sharing the cost of owning and operating a resort. Each owner receives the right to exclusive use of a holiday villa or apartment in the resort for a period of time each year.
Some years ago, the introduction of the strata title concept allowed people to obtain ownership in an apartment and to share the cost of of the common facilities, giving rise to savings in costs and other advantages. Resort timesharing is a logical extension of the strata title concept, allowing a further sharing of costs by division of the facilities into time intervals.
The costs to purchasers are thus reduced to a fraction and are related to time use. By this means, access can be gained to a high class property with numerous facilities (which may otherwise have been well beyond a personâ€™s means) at a price they can afford and for the time they want to use it.
Type Of Ownership
Your ownership is Title Based. Under this system you obtain an interest as a Tenant-in-Common in the land upon which the resort is built. It is a normal real estate transaction and all the rights and responsibilities of property ownership apply. As with all real estate, the timeshare week may be sold, rented, willed, or generally disposed of as desired.
Type Of Week
Your week will be one of the following
- FIXED RED
Owning a fixed week means you own a set/specific week. Check the resort’s calendar for the starting date of your week each year. Your week always starts and finishes on a FRIDAY. Most fixed weeks are in holiday time. Fixed weeks are:
- Christmas/Summer holidays: Week 49 to week 4
- Autumn school holidays: These vary from year to year
- Spring school holidays: Refer to Education Department Guidelines. Check calendar yearly
- FLOATING WHITE
Owning a floating white week entitles you to a week within the floating white period in the calendar year. The floating white periods fall between week 5 and 48 but exclude Autumn and Spring school holidays and the floating blue period from weeks 22 to 32. You should always check your calendars when making your booking.
- FLOATING BLUE
Owning a floating blue week entitles you to holiday within the floating blue period in the calendar year. Floating blue weeks fall between weeks 22 and 32 of your resort calendar and include the winter school holidays.
Annual Maintenance Levies
A yearly maintenance fee is paid by all timeshare owners. A budget is set yearly to cover all operating costs and provision for refurbishment and replacement.
Maintenance Levies must be paid by January 1 of each year. Any debt outstanding after March 1 of the current year will incur interest and may be passed on to our debt collection agency. Collection fees will be added to the already outstanding debt.
Non payment of maintenance levies will result in suspension of owners rights until the debt is paid in full.
Check in – Check out Procedure: Residents may occupy their unit at any time after 4pm Friday of their confirmed week and depart no later than 10am on the Friday of departure. Any persons arriving after after 8pm on Friday shall advise the office of their late arrival so arrangements for collection of their key can be made.
Requests: All bookings must be requested in writing or by email and forwarded to the resort as soon as possible.
Specific Unit Requests: All unit requests are recorded in order of receipt of written application. Requests are noted but not confirmed or guaranteed.
Split Weeks: Floating time owners may split their weeks as long as each separate period falls wholly within the current year and the relevant colour band relating to their ownership. Only one separate period shall contain any one of a Friday, Saturday or Sunday night. An additional service fee will be charged and is payable on the second period of split use.
Unused Weeks: Your week must be utilised in the current calendar year – the club cannot roll the week over to the following year. You may save your week for up to 3 years by spacebanking with an Exchange company.
Unit Occupancy: One bedroom units sleep a maximum of four persons including infants. Two bedroom units sleep a maximum of six persons including infants. The club adheres to this regulation.
For further definition and Rules and Regulations refer to the Articles of Association of the Club.