ROI
Let's see, you buy a brand new boat for almost the same as what you'd pay to have one close to your home. Then every week someone new comes to the boat. Even if they were
ALL perfectly trustworthy, the wear and tear of using the boat 24/7 for most of the year wears it out much more than if you bought that same boat new at home and used it yourself "normally" for weekends and a four week vacation. And you'd take better care of "your baby" than dock workers and vacation charterers.
So at the end of any given period, 1, 2, 3 or more years, you end up getting a boat that
even with the best of cases is worn, worn, worn, much, much more than you would do so yourself.
And that's IF the renters were careful, considerate and loved your new boat as much as you do.
Think that'll happen?
So, if you can live with THAT scenario, then the only thing left is ROI, return on your investment.
You said:
"That said, I really don't know how much of that income comes back to the owner after insurance and maintenance is paid..." and all the other items you mention in that sentence.
That's not much of a "business" approach at all
. If you're actually interested in this concept, and you can get over the "trashed boat syndrome" that many of us have discussed, then that business issue is the
only thing left for you to determine if it makes sense for you.
I also agree with Tim:
"I can think of 2 very close and trusted friends I would trust my boat to and I would still worry." I would modify it somewhat, in that I wouldn't worry because I, too, have found those two trustworthy friends. Anyone who I'd had any hesitation about would not take our boat, anyway, anytime, anyhow, so it's not
those two. And one of the two have used our boat a number of times - when I return I couldn't tell that the boat had been used. That friend is so considerate that he learned how I tie my on board lines up and replaces them exactly as I would have done. What a prince!
Interesting that it's also only two! Since we're on different sides of the country, I doubt it's the same two!
"I guess if I could make income that keeps up with other alternatives, that supports a sailing vacation each year, and doesn't throw me in the red when it comes time to sell, it would be worth it. Then again, if that was the case more of us would be doing it."
Uhm, that's where they get the boats. I believe that a lot of people are still doing it. I don't think those companies buy the boats outright themselves, but I could be wrong.