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Rentals

The Rental Programme gives all eligible members the opportunity to offer their entitlement to other members or non-members and, in the process, collect a share of the proceeds generated. All club members and XP members based at the home resort are
welcome to apply.

Rental Programme 2021 (Closed)

The applications for this programme are closed. VCMS commits to honour the rental proceeds to all members which have been accepted in the programme by Azure. We would like to remind you that to receive the proceeds from the programme you would need to have paid your 2021 AMRF by the 31st of December 2020.

Rental Programme 2022 (Closed)

We are happy to announce that we will be accepting applications for the VCMS Rental Programme calendar year 2022 with effect from tomorrow, 1st of September 2021.

The application period for the Rental Programme is expected to remain open until the 17th of September 2021, or until we have reached the maximum number of requests that we can adequately serve.

 

Club Members’ Entitlement Rental Programme

Terms and Conditions

1. Definitions and interpretation

1.1    VCMS Co Ltd (VCMS) operates the Rental Programme for the benefit of all eligible Vacation Club Members.  VCMS shall operate this programme in accordance with these Terms and Conditions. When joining this programme, members shall relinquish their usage rights for a specified year in exchange for a share of the proceeds from bookings generated from the same space at the Home Resort.  

1.2    By applying to participate in the Rental Programme the member agrees to all the terms and conditions. Applicants are invited to read these terms and conditions carefully.

1.3    XP Members may also benefit from the Rental Programme by converting XPs to a Unit Type and Season of choice. If the number of XPs used exceeds the annual entitlement, the acceleration fee will be due at the time of application on the additional XPs.

1.4    VCMS will generally follow a first come first serve rule when accepting applications. However, the number of applications accepted will also depend on the forecast demand for each type of entitlement. This will be an important consideration used to set a limit on the number of applications accepted in the first place.

2. Registration

2.1    VCMS will invite members to apply for the Rental Programme annually on the 1st of September of the preceding year. Applications will close within two weeks or when there are more applications than can be serviced. VCMS reserves the right to shorten or extend the application period as required. This is referred to as the Application Period.

2.2    Successful applications will receive an acceptance email informing them that they have been accepted to participate in the Rental Programme for the specified year. This should occur by the 30th of September.

2.3    Only successful applicants will be notified. VCMS will keep a record of all applicants that do not receive an acceptance email. These records will be kept on file in case successful applicants choose to withdraw their application at a later date, or should demand for specific rooms/seasons exceed the forecast demand taken into consideration at the outset of the programme.

2.4    Applications received before or after the Application Period will not be taken into consideration.

3. Annual Membership Renewal Fees (AMRF)

3.1    Only applicants up to date with their AMRF are eligible to join the Rental Programme.

3.2    Applications from members that are in default of their AMRF will automatically be disqualified from participation.

3.3    Applicants that are accepted and included in the Rental Programme must settle the AMRF for the relevant year by 31st December. Applications that will be in default through January, will be removed from the Rental Programme by the end of January.

4. Rental Pools

4.1    The Rental Programme has a “collective” nature, it works by creating pools. Therefore, all applications are sorted into Rental Pools representing each Unit Type, View and Season.

4.2    Entitlements are not rented on a one-to-one basis, as this limits the dates available to match a specific request.

4.3    While there are several pools, there are limits to the number of entitlements that can be included in each pool. As an example, If VCMS is estimating that 10 studio country views in the Bronze Season will be rented, then no more than 10 will be accepted.

5. Removal from the Rental Programme

5.1    Members can withdraw their entitlement from the Rental Programme at any time, should they opt to utilise their entitlement in any other way they see fit. However, once an entitlement has been removed from the Rental Programme it cannot be re-entered.

5.2    As per point 3.3, entitlements included in the Rental Programme, that will be in default, through January will be removed without notice.

6. Sharing of Proceeds & Administration Fee

6.1    VCMS will collect a 20% administration fee from the Booking Fees collected on reservations occupying the entitlements accepted to the Rental Programme.

6.2    Proceeds shared depends solely on the actual booking fees collected from the room nights representing the members’ entitlements accepted to the Rental Programme.

6.3    The proceeds for each year will be credited to the eligible Members at the end of the relevant year. They will therefore be credited in time to be available to settle part of the AMRF of the following year, if applicable.

6.4    In those cases when members have excess credit amounting to over €500, then the member may request a payment of that same credit. The accounts department will only be able to consider processing these payments after the end of March, since this will conflict with the work load typical of this time of the year.

This is how the steps of the process look on a graphic timeline:

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  1. Collection of Requests

  2. Deadline Collection of Requests (two weeks after programme opened)

  3. Members' Communication of rejection/acceptance (last working day of September)

  4. Utilization of Rental Space

  5. Members' Communication of Programme Proceeds

  6. Credit of the Proceeds (difference between rental income and AMRF paid)