Need advice, please. Lagoon 47

[MSand]

Hello,
I thought I would write you all today to get some feed back. I currently own a 1991 Lagoon 47 Owners Version. Was completely updated last year with all new electronics, 1100 Watts of solar panels, and two 500W wind turbines, all connected to a 2400 aH Deep cycle battery bank, new washer/dryer, and a 64GPH water maker.

Anyways I was looking to charter the boat out, or rent it out for air BnB which after calling them they recommend $800 a night, with a $2,000 damage deposit. But was thinking more so of the weekly rated chartering.. Does anyone know of any companies in the greater Seattle area that would charter out a boat of this age (1991), or have an idea of what to charge/expect to bring in profit wise on a weekly rental. Ive talked to a few of my friends who also own catamarans 36-50ft, and they said I should have no problem renting it for $4,000-$9,000 a week, as they rent their 2008 Lagoon 420 for $8,500 a week, and 1990 50 Outreamer for $10,000 weekly. They privately charter their boats around the san Juan islands, and do extended trips to Hawaii. They are apparently booked almost year around with 2-3 months empty during the winter seasons. Any advice helps.

Thank you!
Matthew

 

[capta]

If a boat is in charter it gets a great deal more wear and tear than it would otherwise. There are no weather windows when you charter. Flat calm and motoring the whole time, or bashing your brains out in a gale; you gotta go! And everything has to work. That means if your refer system goes down, it must be repaired immediately, no matter the cost. We had to fly in a refrigeration compressor last year and the air freight was nearly the same as the cost of the unit!
I know of very few term charter boats that actually make a profit. The numbers look so appealing on paper, but the reality is that the expenses go up dramatically. They are treated just like rental cars if they are bareboat chartered and any serious damage is often just covered up by the charter company and you, as owner, never even hear about it.
As a term charter boat you will need a captain and chef and possibly a third crew to operate the vessel if you do not wish to operate it yourself. You are only going to get what you pay for there. Figure $120,000.00 for a captain and chef of any quality. Plus the added insurance and you are looking at a pretty big nut to crack to even break even.
And trust me, a couple years of that, especially if you are considering a round trip to Hawaii (a horrible place to sail) your boat will be beat to sh*t.