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Old 19-01-2004, 10:14   #1
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The merit of co-wnership or chartering one's boat?

does anyone have a positive experience with chartering their boat?

I have a pristine '99 Morris 40/42 that I want to keep this way, (3-cabin/2-head) located in Long Island Sound that I've considered making available for limted charters simply to defray ownership costs. My reluctance has everything to do with accelerated wear and tear and hidden damage. On the other hand, I don't get enough use out of her to justify the expense poured in but don't want to sell her either. Chartering or co-ownership might make sense if I could manage it properly.

I'm looking for a role model. Anyone have suggestions?
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Old 19-01-2004, 11:27   #2
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Wm F. Buckley

FWIW:
William F. Buckley went through exactly this same excercise. Sorry, I don't recall which of his "tomes" (he doesn't write mere books).
He ended up selling his cruising boat(s), maintaining a daysailer near home; and chartering for his cruising needs.
I do NOT recommend chartering out a premium boat, such as yours (you stated the reasoning).
Regards,
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Old 19-01-2004, 19:47   #3
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I have a minority partner in my boat. For the most part it works out fine. It greatly helps with maintenance and operating costs.Some key issues is setting up rules that define how the boat will be used and what happens in a variety of unpredictable occurances. It also helps to develop a specific schedule at the start of the season.

Jeff
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Old 20-01-2004, 08:50   #4
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Renting

There are two ways to tuture test any piece of equipment until it fails. Rent it to rookies, let the dealers test it. BC Mike C
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Old 20-01-2004, 11:57   #5
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I guess I already knew the answer to this one. If semi-custom boat manufactures (Morris, Hinckley, ex-Little Harbor,Swan, etc) really felt it was 'good business' to OWN charter boats, they would do so instead of building charter businesses around private owners.

Nontheless, the math could be compelling IF IF IF the whole thing were managed properly with realistic goals.
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