Getting Started With A Boat Share
The boat share concept falls somewhere in the middle between a one-time charter and going all in to buy a boat outright. For anyone who won't be living in it or using it every day, buying a vessel might be overkill. On the other hand, charters are limited to annual trips like a vacation.
Ownership sharing solves plenty of problems associated with both purchase and charter, with flexible usage dates and time on the water, but not the hassles and costs of individual ownership. Apart from the purchase cost, other issues that are taken care of include marina fees and insurance, among others. The biggest benefit is that there's no need to fret over the cost and hard work of the vessel's maintenance.
The fractional yacht ownership or boat share company will take care of all these and other issues. All that needs to be done is buy shares and become a part owner of the vessel. Alternatively, it might be a timeshare-type arrangement with yearly membership fees plus charges billed per trip based on usage, which will be very low as compared to the costs of chartering the same type of vessel.
There are many variables involved here, so do so some comparison shopping to see which company is offering the best deal. For instance, how much time per year does a member/owner get on the vessel, and how does the booking arrangement work? Some companies have limits on how soon the next trip can be taken after one trip out on the water.
Also, there will be a need to book in advance, in order to avoid date clashes with the vessel's other co-owners. This has a big chance of happening during holidays and other peak periods like summer vacations, if there is no scheduling system. Also look into the details of the maintenance charges for the vessel, and how the company actually maintains it.
Then there are also questions about the crew (if any) and other such factors that depend on the size and type of the vessel. The summary of it is that a boatload of money can be saved by opting for a boat share. It allows people to roam the seas at will without having to pay through the nose, but it still has to be looked into carefully to make sure the arrangement is legit.
Ownership sharing solves plenty of problems associated with both purchase and charter, with flexible usage dates and time on the water, but not the hassles and costs of individual ownership. Apart from the purchase cost, other issues that are taken care of include marina fees and insurance, among others. The biggest benefit is that there's no need to fret over the cost and hard work of the vessel's maintenance.
The fractional yacht ownership or boat share company will take care of all these and other issues. All that needs to be done is buy shares and become a part owner of the vessel. Alternatively, it might be a timeshare-type arrangement with yearly membership fees plus charges billed per trip based on usage, which will be very low as compared to the costs of chartering the same type of vessel.
There are many variables involved here, so do so some comparison shopping to see which company is offering the best deal. For instance, how much time per year does a member/owner get on the vessel, and how does the booking arrangement work? Some companies have limits on how soon the next trip can be taken after one trip out on the water.
Also, there will be a need to book in advance, in order to avoid date clashes with the vessel's other co-owners. This has a big chance of happening during holidays and other peak periods like summer vacations, if there is no scheduling system. Also look into the details of the maintenance charges for the vessel, and how the company actually maintains it.
Then there are also questions about the crew (if any) and other such factors that depend on the size and type of the vessel. The summary of it is that a boatload of money can be saved by opting for a boat share. It allows people to roam the seas at will without having to pay through the nose, but it still has to be looked into carefully to make sure the arrangement is legit.
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