How this timeshare works
Please note that this resort is not suitable for wheelchairs
Sun Pacific Villas has, like most timeshare resorts in Australasia, a mainly "floating" system of ownership, with only 4 weeks in the Xmas-January period being "fixed".
Fixed Weeks are "Fixed Bookings" and are weeks No 52 &1(only as a pair), 2, 3. The fixed week unit occupied each year is rotated upstairs and down and through different colour schemes.
Floating Weeks are
weeks No 4 through to 8 called Summer
Float, and 9 through to 51 called
Premium Exchange Float
and are subject to booking at the resort office. Forward bookings
open for confirmation 32 weeks ahead but 'pencil bookings' will be
accepted before that but can be subject to ballot at the 32 week mark
if there are more bookings than units.
It is important to book
your weeks each year, or bank them with an exchange company, as they
do not carry over to next year except through an exchange company.
Unit allocation is random with floating time, but you may request
certain units at booking and the managers will endeavour to oblige if
the units are not already committed.
Sun Pacific Villas timeshare is a title based
type of ownership, established under the Unit Titles Act 1972. There
is a title for each apartment with 51 cross leases (for 999 years) on
each title, thus giving a title for each week in each unit with a
maintenance week left out for each unit. There are thus 1530
timeshare weeks (titles) at Sun Pacific.
A pooling agreement
between all owners enables the choice of week and unit for floating
weeks, and rotation of unit for fixed weeks, while still retaining
ownership of a title deed.
The Unit Titles Act requires that there is a Body Corporate comprising of all the owners of the property and there is a committee of 6 elected annually to oversee the running of the resort. The committee employ resident managers to see to the day to day running of the resort, and a secretary for the Body Corporate to attend to administration matters.
The Sun Pacific Body Corporate committee is comprised of a number of very competent and capable owners who bring a very useful range of professional and technical skills to benefit the resort at virtually no cost to the Body Corporate. The time these people give to the resort is considerable, and the results are for the holiday enjoyment of all owners.
There is an annual maintenance levy
which is $723 (incl. GST) for 2 brm units and $626
for 1 brm units, per week owned, for the year 2010. This levy is a
share of actual costs (non profit) of running the resort and includes
everything except toll calls you may make while in residence. There
is also a budgeted contribution to the refurbishing reserve fund,
which is currently $300000+ in cash, in the bank earning interest,
which helps the resort's income. There
are no bad debts .
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