Testing the Market

[sailingdog]

The other problem is that each person that "uses" the boat will have a different way of doing things, and it means that you can't leave your personal gear aboard the boat without the risk of it being used, lost, broken or stolen by the renter... You'd have basically the exact same problems anyone who puts their boat into charter does, to a slightly lesser degree. Unless you really know and trust the person "renting" your boat, do you really want to run that risk.

If you make the person a "co-owner" of the boat, wouldn't they have the right to make modifications to the boat to better suite their needs and how they use the boat???

There was a study done on automobiles that showed the more people who drove a given car, the higher the maintenance on the vehicle and the greater the wear and tear on the vehicle usually was. I'd imagine that applies to boats as well.

 

[John]

Surely, Sailingdog is correct about the insurance. I think that is obvious and incontrovertible since you are charging for the rent. If there is true ownership sharing, that has complications which have been discussed. The Coast Guard requirements for uninspected vessels are modest, but you need to check the list.

Then there is the matter of renter dings. I rented a house out for a time.... Uhg. You will get ~125% of your normal maintanance, not 75%.

Skip movies, skip dinner out, wear old clothes, improve the energy efficiency of your house, drive less and at the speed limit, DIY on the boat, anchor out, find a cheaper marina... motor less and sail more.

I had decided to just call it quits on this subject, but I can't resist.

First, about the insurance: As I already wrote, I have already talked with the insurance (BOAT US) and they had not problems with what I was planning to do. (If you had read what I wrote closely enough you'd know that.)If that's what they say, then I suspect that those who are saying different on this list are probably wrong. Also, they raised no questions about the legality.

Second, as far as the suggestions above for what to do to save money - I have to say, you don't really know me and don't know my life style. The last vacation we took, we got free plane tickets and spent $25 per night for a hotel. Maybe that gives you some idea?

And it's not all about just making money. (As I say, you don't know me; if you did, you'd never, ever think that was what I was into.) But it does strike me as a frightful waste: Here we are with this really nice boat (by my standards) and although I probably use it more than most who have a boat around here, still it sits unused the great majority of the time. What a waste!

Finally, I'll tell you this about my experience: My home happens to be a duplex and I rent out the bottom half of it. I've rented it out for 25 years. I've never once done a background check on a prospective tenant and never had any problem with any of them. Basically, we get along as neighbors, not a landlord and a renter. I simply go by what little information I have plus my gut instinct about the person. Sure, I might make a mistake, but people can fake their credit history, job history, etc. too. So I figure if I can find somebody to get along with living alongside of them on a daily basis, I'll find somebody reliable enough to use my boat.

I really, really appreciate this list, including the attention that people pay to safety and proper maintenance. But sometimes we can go overboard in more ways than just falling off a boat.

 

[Stu Jackson]

Sail it - on your own

...it does strike me as a frightful waste: Here we are with this really nice boat and although I probably use it more than most who have a boat around here, still it sits unused the great majority of the time. What a waste!

Ach, it's like that all over. The amount of boats that do not get used is appalling. We have been exercising the right, as you have, to disprove the theory that the amount of use a boat gets is inversely proportional to its length.

Just don't take it personally or universally.

Use YOUR boat -- the rest of them are simply taking up space but at least it's not your space.

It's akin to complaining about how many cars are parked on the street while there may be just a few on the freeways, with people on the roads complaining about traffic, too.

Sail, sail, sail _______}________}__ _____}

 

[William12213]

You do not need a USCG Capt Lic to rent out your boat unless you are piloting the boat. Now the insurance company and maybe even the marina might have something to say about renting it out. But I would say that he is looking more at leasing it which would infer some type of implied ownership just like leasing a car.

 

[HukilauMike]

John: just highlights the difficulties and pitfalls of giving and getting advice over the internet. One (hopefully final) word about the insurance: add your renter as an "operator" in writing. Send the company a letter saying "I would like to add Cap'n Salty as an operator to my policy. As we discussed, he rents/leases (however you want to characterize it) the boat from me for one week per month, and your suggestion was that I would have full coverage by adding him as a renter."

As someone who deals with commercial insurance companies all the time, my experience is that they comb the policy and the claim for any excuse not to have to pay out. Things have only gotten worse over the past year. In your case, you don't want to give them any additional ammunition. A letter like that in the file will give them pause to deny the claim based on "commercial use" or some other similar nonsense.