Kingswear Park Club Ltd
Exit Policy
Information for Members
Sadly, if you are reading this you are probably considering ending your membership with Kingswear Park Club. I am confident you will have had many happy holidays over the years, either at the resort or through the exchange scheme. None the less life changes and what worked several years ago may not work for you today. However, I would like to say, if you feel any aspect of membership with the club could be improved or changed to make continuing your membership an option, please do not hesitate to contact me to discuss it in further detail.
We all know timeshare re-sales and disposal can be a mine field of false promises, and scams, providing little or no success. With many of our own members having lost large sums of money in this way. This is why as Resort Manager, working closely with The Board of Directors we have produced this policy explaining exactly what your options are.
As I am sure you are aware since 2012 the resort has been under new management, along with several new board members. Since then a lot of time has been invested in finding a solution to ageing memberships, along with securing a strong future for the club, and preventing unfair increases in fees for remaining members.
Kingswear Park Club is owned and operated by you the members, represented by a voluntary Board of Directors, who in turn employs staff to operate the resort. This means there is no company to simply take the weeks back, you are the owners.
The Board and Management have carried out a great deal of research into this industry wide problem. TATOC provided seminars relating to owner owned resorts and advice was given from industry leaders around the world. Timeshare exchange companies, management of other U.K. based owner owned resorts, and senior legal advisors have all been consulted in our aim to provide a good/fair exit policy for those owners who want no more, whilst securing a strong future for the club.
Before we explain your options, I must once again remind you to take extreme caution with any resale company offering to assist you. TATOC can provide advice as to reputable companies, and warnings against known scams. We strongly advise you to take their advice.
Your Re Sale Options
Your week will now be advertised in two ways, a full ownership as you have, and a ten year pre pay ownership.
- Full ownership
Sold at a value of your choice*
New owner will be contractually bound to fees for remainder of term to 2064
New owner will need to provide, a copy of a UK passport, and two proofs of address. They must be a UK citizen over 18 years old.
New owner will complete a contract
The club charges a fee of £175, to be paid by purchaser; this will include a 2 year membership to a leading exchange company.
No commission is charged on sale value.
*prices under £1000 will be shown on KPC website for “offers” only.
- Ten year pre pay ownership
Sold at a price to include the clubs fixed fee of £4995 plus any resale value you wish to achieve
The new owner will have no annual management fee to pay
At the end of the ten years the week is automatically returned to the club
Throughout the ten years, they may use, rent or exchange
The club charges no additional fee
The new owner will also get a 2 year membership to a leading exchange company.
The new owner will need to provide identification, and complete a contract but does not need to be a UK citizen
- with both of these options you will remain liable for Management Fees until the transfer is complete
- The weeks will be marketed on the company website, and you may also advertise it privately. Please let us know if you would like any marketing pictures and information to help with this process
- Remember you can also take advantage of the clubs rental scheme whilst waiting for a buyer. The club charges 15% commission on rentals through us, but again you may advertise privately and we would not charge commission on this.
Another option now available to you is:
Owner Conversion
You would pay the club £4,995; this then converts your ownership to a ten year pre pay ownership.
You would remain the owner for ten years, but with no annual fee, and after ten years ownership automatically returns to the club bringing the contract to an end.
You can choose to keep it, or gift it to a person of your choice. Maybe a Christmas, birthday or wedding present.
With no commitment to future fees, and a complimentary 2 year membership to one of the leading exchange companies, it really would be well received by anyone.
Current years’ fee must be paid in full before a conversion can take place
Paid Surrender
In certain circumstances you may wish to end your ownership immediately on payment of a fee.
The cost of this has been set and takes into account how hard the week will be to resell, with high season weeks having the lower price.
This is not the best option for everyone due to cost, but is in line with re sale companies, and comes with guaranteed success as done directly with the resort.
If you would like to discuss this option please contact the Resort Manager.
I hope you have found this guide helpful, and now feel more confident in your chance of achieving the change to your membership you desire.
Please contact the office if you have any further questions.
Gary Coole
Resort Manager
For more information regarding this article or assistance in any other timeshare related issues please contact the TCA on 01908 881058 or email: info@TimeshareConsumerAssociation.org.uk