Hello, my name is Syed Sarmad and I am the Principal Broker for Advantage Vacation. We are a licensed real estate company specializing in the resales of Westin, Sheraton and Vistana, as well as other name brand timeshare properties.
Advantage Vacation has been in business for nearly 30 years and our offices are located at the Lahaina Cannery Mall in Lahaina, Maui. I am often asked Vistana’s rules for banking and borrowing Star Options.
Owners who purchased directly from the developer or resale purchasers who bought a Vistana timeshare in a mandatory resort are entitled to StarOption benefits.
How far in advance can I bank my StarOptions?
You can bank your StarOptions anytime from October 1stof the previous year through December through December 31stof the use year, depending upon your status level.
What are the deadline dates?
Non-elite owners have until July 1st.
3 & 4 Star owners have until October 1st
5 Star Owners have until December 31st
Are there any fees for banking?
Yes, there are.
Non-elite owners pay a $99 rollover fee
3 & 4 Star Owners pay a $79 fee
5 Star Owners do not pay a fee for rolling over
When can these StarOptions be used?
Once these options are banked they can be used for any period starting in the next calendar year and are good through the following calendar year until December 31st.
Therefore, you have a 24 month window to use these StarOptions. You can use these StarOptions to reserve in any size unit, in any location in the Vistana Signature Network for as few nights at a time or up to 21 consecutive nights.
Can you borrow SttarOptions?
Yes, you can. You can borrow from the next use period, all the annual fees have to be paid and current through the use period that you’re borrowing from. These StarOptions, once you bank them, have to be used within an 8 month window.
So, therefore, for example, if you own an odd year timeshare interest and it is 2019, you can borrow StarOptions from 2021 nowin 2019 and use it anytime within the 8 month window, anytime in 2019 or 2020.
I hope this information has been useful to you!
Syed Sarmad, Principal Broker for Advantage Vacation