Pros and cons of chartering out my sailboat

[peterj]

I am contemplating chartering out my sailboat. Can anyone give any comments on the pros and cons of putting your sailboat in charter service? I can see the positive financial aspect of doing this, are there any unforseen problems that only can be seen by those who have placed there boat in charter service?

 

[peterj]

Re: Pros and cons of chartering out my sailboat

I have a very close friend that charters out his Benetti most of the year. He has told me he likes to think of it like this: Crew members are usually an attentive group, and would treat your boat with presumably the same amount of respect as you would yourself. There are always exceptions, that's why it's always good idea to demand good security against any damage.

 

[peterj]

Re: Pros and cons of chartering out my sailboat

Tough question! It really depends on the company you lease your boat to. Whoever you go with, make sure they actually maintain the boat to top standards. You should always have easy access to the boat when it is not in charter. Obviously, make sure that the profit is still worthwhile. Your lawyer should very carefully review all contracts. Also, check to see if you can pull out of the contract quickly if necessary, what kind of notice do you need to give to the company, and if there are any kind of penalities if you have to take your boat during the high season charters.

 

[bayman]

Re: Pros and cons of chartering out my sailboat

Personally I would hesitate to let it out on a bareboat charter unless I knew the people I was chartering it to. Of course they'd have to be qualified and be respectful to my sloop. If it were my boat I'd be more likely go with a skippered bareboat charter and even more happy to go with a crewed charter.<br /><br />In addition, make sure you have the right insurance for whatever you choose to do.<br /><br />=-bayman

 

[mike-n-ike]

Re: Pros and cons of chartering out my sailboat

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