making money by renting out your boat

[adamb01]

I've been hearing about peer-to-peer boat rental websites and was interested to hear what you all think about renting your boat out in this way?
If you are renting your boat out on a peer-to-peer site, what has your experience been like?
If you are not doing this, why not?
- Adam

 

[GA_Boater]

Welcome aboard.

What type of boat are you planning on Airbnbing?

 

[Scott Danforth]

I know how I abuse rented equipment and cars. No way would I consider renting out my boat. You may want to also check with your insurance company. Your policy most likely doesn't cover you or the boat if you rent it out

 

[Texasmark]

Too many variables in a boat vs a car; probably similar to an airplane. Even if you rent to a seasoned, responsible person, they don't know your boat. When the going gets rough you need to know the boat you are operating, it's limitations and capabilities. No way would I do it! It takes many experiences of various kinds to teach you what's under you.

 

[ondarvr]

If you plan to recoup some the money you invested (sarcasm) in your boat......Then sell it, renting it out will only incur more headaches and costs.

 

[bajaunderground]

A few years back (Baja time frame) I had a neighbor offer my wife $200/day to rent my boat...I said NO effing way...for exactly the reasons previously posted...that and I barely trust my wife running the boat when I'm not there...not that she drags it there by herself, but when we're camping and the boat is anchored off shore!

​Like a lot of things in life...when everything goes well, ignorance is bliss, but when excrement hits the electrical convenience, you'll be sorry!

 

[thumpar]

I would never do it. Maybe with my old boat but no way with my current boat. People don't care about what is not theirs. It is also a major liability if someone gets hurt.

 

[southkogs]

Welcome aboard Adam:

Depends on the boat, and the manner in which it all works: for me - trailer boats, there's no way. Too many things to go wrong, and the insurance coverage would have to be pretty ugly. Bigger cruisers I might (<== in a fit of "crazy") consider, provided they were anchored and not operated by the renters - otherwise, I think the insurance issue would come in to play.

BUT ... If I could afford, and had time to use, a yacht with a crew that I rented out most of the year and used several times a year myself ... I would consider doing that.

 

[Scott Danforth]

... If I could afford, and had time to use, a yacht with a crew that I rented out most of the year and used several times a year myself ... I would consider doing that.

That is called a charter and since the boat is operated by the owners trusted crew, and these boats are usually flagged and heavily insured, it is common pratice. it is how many of the large yachts are operated.

 

[Frank Acampora]

If you need to recoup money by renting the boat, then you can't afford it in the first place. Unless you do it as a commercial enterprise there are too little rewards for the risks. Make a chart of rewards vs. risks, but be brutally honest, and see for yourself

 

[oldjeep]

I'd rather just light it on fire than trust some random person with a 60K easily messed up toy. I see 120K wakeboard boats for rent on those sites and can't imagine what the owners are thinking. It would be so easy to mess up an inboard/v-drive that even if insurance covered it you would lose use of it for months. There is also so much hidden damage you could do to especially an engine that making $400 for a days rental would never be worth it.

 

[batman99]

nobody touches my baby. If wondering, my wife only touches my baby when I'm in the navigator seat - with my thumb on its emergency kill switch. Same for my vehicle as well.

 

[WIMUSKY]

nobody touches my baby. If wondering, my wife only touches my baby when I'm in the navigator seat - with my thumb on its emergency kill switch. Same for my vehicle as well.

Wow...... And to think I let my 19yo daughter drive my street rod/boat/new car while I relax in the passenger seat. What am I thinking??

 

[jbcurt00]

For the 25+% commission those sites take off the top of the rental amount (plus an extra 10% from the renter too), any problems should be covered by them not by me or my insurance.

Optional insurance coverage is available from them at time of rental (similar to when you rent a car) and specified handling of late returns, damage and cleaning are all laid out in the rental contract.

It isnt hard to see why people are doing it.

Would I?

No.

But I wouldnt offer my home on AirBandB either. Neither would my wife. BUT as much as she likes staying at quant B and B's , she would probably be willing to book an overnight or long weekend in someone elses listed AirBandB home.

WM, you're clearly just that special kinda crazy.
What WERE ya thinking?
Probably werent :facepalm:

Trust its a good thing

 

[batman99]

During my younger age stupid days, I use to loan my utility trailer out. Ya. Simple low cost $2K (after taxes and brake upgrade) chunk of hardware. And, I would only loan it to my dear friends. After returns with broken tail light assemblies, shovel digs within its wooden floor and removed paint on its top fenders (from folks stepping on its fenders with sand under their boots) and a broken 7-pin connector, I realized that folks (even dear friends) don't care about other people's stuff. Now, if someone wants to borrow my trailer, I instantly say NO. And, I don't feel bad about it either. Especially to the folks who damaged it during their last (and last) borrow....

Utility trailer isn't a boat / trailer. But, the pattern exists. Most people don't care about other people's stuff. Especially your baby.

 

[jkust]

All I have to do is look at the rental boats that the resort across from us rents to the weekly cabin renters. Their waverunners look like they required the renters to hit everything in sight and their boats and pontoons are beat to heck. I own rental property that I hate to even rent out because people are so unethical and careless. I wouldn't even rent out an old wooden boat with a 75 Johnson with electric choke.

 

[StarTed]

Some of you have colder hearts than N...n

I borrowed a paint sprayer once from a co-worker to paint our house in Everett. After we repaired it and finished using it we took a couple extra days to clean it up including all the old paint from previous uses. When I returned it he said we could borrow it any time. We never did. I prefer owning my equipment and even hesitate getting rentals. Sometimes that is necessary due to the cost.

I think that people that borrow things do not have the same mind set as those that own their "toys" as my wife calls them.

I hear you and hate to loan out anything of mine but do so to relatives who can't escape my harassment if they bring it back poorer than it left. One problem is that sometimes things don't find their way back for a long time.

I'd think you'd have additional liability if you rented out something, especially a boat. Then there is the income and additional IRS reporting.

 

[GA_Boater]

I hate to say it, but I think we're being trolled guys. Adam joined, asked some surveying type questions and has not come back to even look to see what any responses are.

I may be wrong, but this fits a pattern.

 

[eddie haskell]

I had a boat that I wasn't using. It was a good boat, just needed some spit and a fresh impeller in the OB.
They had just moved to the PaNorWest and money was tight for he had no job yet ( 6 years later, still don't ) and wanted to go fishing, etc.
I told him if he did the fixing, etc, he could borrow it.
What a friggin mistake I made.
I found they hammered off the lower unit and broke part of the cavitation plate in doing so, but denied it ( huh?) let his son use it with friends, and then he somehow, why sitting on the trailer, I noticed a crack in the lower end as it was weeping oil. I think he trailered it with the motor down.
He said he didn't do it.....huh?
That he only used it a few times, uh, a week maybe.....he had it all summer long, took out guest who came to visit, etc.
Then I was the A.H. for taking it back AFTER he did all this work on it, WTF.......?????

I had to use my spare bottom end on it that I made a great score on, and he never gave me a penny for it, or a sorry, or a thanks......

He has since bought a boat.

It is now broken and sitting exposed in the elements wasting away.

My "spare" boat is covered up, all fixed, and waiting for ME, if I need it again......

Lesson learned the HARD way.......:facepalm:

 

[Texasmark]

If you need to recoup money by renting the boat, then you can't afford it in the first place.

Frank, I had to laugh at this. Priceless