Warren Whiteboy, Resorts Finance Manager provides insight into his area of responsibility

Collection of levies
The levy team consists of 15 staff members. They collect more than R250m worth of levies annually. This is no small task considering we have almost 26 000 owners who collectively own 43 000 weeks.

The team also constantly communicates with owners to establish what they would like to do with their week for the current year. Roughly 25% of our owners use their week at their designated time of ownership. The rest of our owners choose to rent their week out, deposit their week with SunSwop to utilise at a different time of the year or perform a private arrangement.

The levy team is also responsible for the booking of owners into their own units, placing units in the rental pool and issuing of guest certificates to owners who make private arrangements. In the case of owner private arrangements, we encourage owners to give prior notification of their guest details. The owner will be issued with a guest certificate, which will avoid delays at check-in

Please would owners visit our website (this website) to update contact details, view reservation dates and make on line levy payments. Kindly contact your levy and admin team should you require assistance in accessing your profile on line.

Factors influencing effective levy collection
In order to maintain constant communication with our owners, it is essential they update their contact details. Given the challenges experienced over the last few years with the posting of levy statements, the use of owner e-mail addresses has enabled us to reduce the frustration of owners not receiving their statements and notifications on time.

As more owners embrace technology we are seeing additional and faster response times through the use of emails. In the last 2 years we have managed to save the shareblocks several hundred thousand rand by reducing the printing and posting of annual financial statements.

Sending out levy statements 6 months prior to occupation date gives owners ample time to decide what they would like to do with their respective weeks for that year. It has also resulted in more owners paying their levies on time. Therefore shareblocks are earning more interest income which contributes to lower levy increases for the following year. We would like to thank our owners for paying their levies timeously.

Levy default statistics
I am proud to say that we have an average outstanding levy percentage of less than 1% across all our resorts. This indicates that owners are happy with the standard of our resorts and the value received in exchange for their levy.

This is supported by our E-guest (guest satisfaction surveys) scores that range from mid-80% to mid-90%.

Measures to prevent levy default
Due to demand and an active resales market for weeks at our resorts, we keep the number of repossessed units at each resort to a minimum. We understand that given tough economic times not everyone can afford to go on holiday every year. First prize for us would be for owners to contact us 6 months in advance so we can assist them in exploring available options before abandoning their timeshare. Options include:

  • Placing the unit in the rental pool 90 days out
  • Making a payment arrangement (maximum of 3 months) so the levy is paid up before the 90 day period
  • Depositing the unit with SunSwop
  • Asking the resort to let the unit
  • Asking the resort sales agent to sell/let the unit

In terms of the Rental Accommodation Policy, repossessed units can be placed in the rental pool where they are subject to the same terms and conditions applicable to owners. This minimises the potential for a loss to the shareblock and influences the levy increase.

Services offered by the Share Registry Team

  • Merging of 2 membership numbers resulting in all SunSwop points reflected on 1 membership number
  • Ownership Transfer (R1560 per week)
  • Transfer from Estate Late to current ownership (R520 per week)
  • Name Change to current ownership (R390)

Please contact share.registry@tsogosun.com for assistance.

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