Moorings Advantage program + live aboard

[dwareham]

Doing some preliminary research for an upcoming seabattical.

Family of four planning to live aboard a 39' cat in the Caribbean for at least a year, possibly extending to two. Not sure yet if we will be full-time live aboard through the hurricane season/s.

We have been toying with the idea of purchasing via a Moorings charter contract; specifically their "Advantage" program, which offers "unlimited owner use." This is not the regular ownership program, so seeking advice about this specific program.

We think we will live 6-8 months aboard during peak season during the first year, but we don't yet know what we'll do during hurricane season. (Possibly live aboard, possibly rent a condo; we are just starting to figure things out now).

We are also open to extending the trip an additional year if things go well, but after that we would need to return to the real world.

At that point, we would plan to use the boat only two to three weeks a year for the duration of the contract (which I believe is five years).

I know most of the charter-ownership programs are set up to accommodate owners who only use the boat for a few weeks annually. Has anyone heard of a situation similar to ours? We plan to talk with Moorings this week, but wanted to poke around here first.

Thanks for your feedback.

[maytrix]

What do you plan on doing with the boat after the contract is up?

While this might work out well, you may be better off buying exactly what you want and outfitting it the way you want, using it yourself the first year and then put it into a different company that would take a 1 year old boat.

Something like this would be very similar in that you wouldn't get any guaranteed revenue. But unlike Moorings, you could pretty much pick any boat you want and outfit it the way you want. Less choices with Moorings.

Otherwise, Moorings should work fine for you as long as they are ok with that type of unlimited use. Not sure on any specifics as we are in their guaranteed program, but I believe you'll simply get a certain percentage of charter fees - not sure on what expenses they may charge you though. Only real downside is you'd be using the boat during the highest revenue period (high season). Might make a little more sense financially to have it available during the high season - at least the busiest time.

[dwareham]

Thanks for the quick and informed response, Maytrix.

We are likely to use it the majority of the first two years we have it (live aboard), but after that, probably only a couple weeks at most, each year.

So what I'm really asking is: what does three years of peak season rental bring, on a boat that is decked-out for live aboard and probably has everything a short-timer could want, and more?

BTW, I think I know the answer already, but it helps to hear someone say it!

Thanks again!

[IsabelleBL]

Hello,

I am the sales manager for the Advantage Yacht Ownership program with the Moorings.

I would be glad to provide additional information about owning a catamaran and how we can accommodate the flexibility you require. The way it would work, you would buy the boat and sign a management agreement at the same time with a start date at a later date.

You can contact me at the Moorings office, number on the website if you wish to discuss further.

Isabelle B.