Is platinum Africa group genuine? With the fractional ownership?

The Platinum Group Africa, officially known as PTM Africa Company LTD., is a Nairobi-based organization specializing in fractional ownership of vacation properties. Their mission is to make luxury lifestyles attainable through affordable fractional ownership, allowing members to own shares in vacation properties and utilize them accordingly.

Fractional Ownership Model:

In this model, properties are divided into 52 fractions, each representing one week per year. Owners receive a 99-year government-registered sub-lease upon full payment, granting them rights to the property. Benefits include personal use, gifting or lending weeks, renting out weeks for income, saving unused weeks for future use, and the ability to will or sell the fraction. Additionally, through affiliation with RCI Weeks®, members can exchange their week for stays at over 4,300 affiliated resorts worldwide.

The Platinum Group Africa

Membership Process:

To become a member, individuals can complete a membership application form, after which a specialist will provide a personalized presentation detailing the benefits of fractional ownership. Existing members can also refer friends and earn rewards for each successful referral.

The Platinum Group Africa

Considerations:

While the company presents an appealing model, it's essential to exercise due diligence. A 2007 report highlighted concerns about a company named Platinum Africa engaging in dubious sales tactics related to unauthorized debit orders. It's unclear if this is the same entity as The Platinum Group Africa, but the similarity in names warrants caution.

The Mail & Guardian

Recommendations:

• Research: Investigate the company's current reputation and seek out recent reviews or testimonials from existing members.

• Legal Consultation: Before committing, consult with a legal professional to understand the terms of the sub-lease and any associated obligations.

• Financial Assessment: Ensure you comprehend all costs involved, including maintenance fees, utility fees during stays, and any other potential expenses.

• Visit Properties: If possible, visit the properties in person to assess their condition and amenities.

By taking these steps, you can make a more informed decision about the legitimacy and suitability of The Platinum Group Africa's fractional ownership offerings.