Levies help cover resort operation expenses, custodian fees and the Club’s actual and expected liabilities. Levies are directly linked to the number of Holiday Credits you own and are generally payable on 1 January each year (although an Owner may elect to pay the annual levy quarterly or semi-annually in advance). Owners are invoiced directly for all annual levies payable.
To ensure a viable and long-lasting holiday program for the benefit of Owners, it is necessary that annual levies take into account the actual expenses of the Club including the upkeep, maintenance and repair of the Resort Apartments in the Club. Each Owner of Holiday Credits (including WVRAP as Developer) is obliged to pay annual levies, which are inclusive of GST. The number of Holiday Credits that you own determines the amount of the annual levies you pay. Owners of higher amounts of Holiday Credits will pay higher levies because of the greater amount of resort usage that they will be afforded.
Annual levies are not negotiable.
