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Old 12-06-2016, 07:29   #1
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OK, so I'm a newbie, but...

I have been running AIRBNB in my house for about a year now and make about $1,200 a month. What does the community think about 'boatbnb'? If you have a boat large enough to provide amenities for a guest, what could you charge?

Being VERY close to NYC (1 mile away and next to the ferry) where a hotel room is $250+ a night, could this be something people want?

Alan
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Old 12-06-2016, 07:42   #2
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Re: OK, so I'm a newbie, but...

Theres alot of boats on there. Prices vary greatly on location, season, and boat
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Old 12-06-2016, 08:08   #3
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Re: OK, so I'm a newbie, but...

I would give it a shot. How much do you lose if it does not stick, how much do you gain if it does?

Explore and conquer. Who knows what the next big thing is.

Cheers,
b.
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Old 12-06-2016, 08:11   #4
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Re: OK, so I'm a newbie, but...

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Originally Posted by Tkeeth View Post
Theres alot of boats on there. Prices vary greatly on location, season, and boat
Agree totally. We're talking 50+ foot, private cabin/head, very well maintained. Your thoughts?
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Old 12-06-2016, 08:42   #5
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Re: OK, so I'm a newbie, but...

Your standard insurance probably would not cover losses. You would need special coverage which is not cheap.
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Old 12-06-2016, 08:42   #6
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Re: OK, so I'm a newbie, but...

We boatbnb'd our previous boat, a Baba 30, for nearly a year, here in Seattle. Rented nearly every night that we wanted it to be. I'd block out the days around when I'd want to sail, but it does take the opportunity to spontaneously leave the dock off the table.

It was working out quite well for us, great as a matter of fact, until the marina shut us down. Subsequently nearly every marina around here has put in specific rules about not allowing it. I'm not sure how the prospects in NYC look, but I'd at least quietly look into it.
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Old 12-06-2016, 09:31   #7
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Re: OK, so I'm a newbie, but...

there is one platform like AIRBNB for boats https://www.incrediblue.com/en
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Old 12-06-2016, 09:50   #8
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Re: OK, so I'm a newbie, but...

A few minor issues- NY or NJ tax folks, insurance company, marina management, neighboring slip holders, preventing boat leaving with the renter, potential damage due to ignorance, etc. This sounds like one of those 'too good to be true until it isn't' deals. Proceed at your own risk
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Old 12-06-2016, 12:21   #9
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Re: OK, so I'm a newbie, but...

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I have been running AIRBNB in my house for about a year now and make about $1,200 a month.
Alan,

I just wanted to say "well done" for your entrepreneurial success with AIRBNB! $1,200 per month ain't too shabby mate!

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Old 12-06-2016, 12:34   #10
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Re: OK, so I'm a newbie, but...

I read an article about boat version of airbnb. There are couple of guys doing at northwest, charging about $200 to $300 per night for 30 something footer boat.( Surprisingly not fancy boat.). An agency taking care insurance and other fee and an owner is getting about half of the price.
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Old 12-06-2016, 16:12   #11
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Re: OK, so I'm a newbie, but...

I wouldn't want to be in a marina that allowed boat B&B. We already have enough trouble with rowdies, people who steal and random low lifes.
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Old 13-06-2016, 01:52   #12
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Re: OK, so I'm a newbie, but...

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A few minor issues- NY or NJ tax folks, insurance company, marina management, neighboring slip holders, preventing boat leaving with the renter, potential damage due to ignorance, etc. This sounds like one of those 'too good to be true until it isn't' deals. Proceed at your own risk
We've seen a few kicking around. I suspect most are flying under the radar hoping nothing bad will happen and they don't get caught. Most are also small cheap boats at cheap prices.

That said lets look at the numbers:
- Based on your description, I'm thinking you are talking about Liberty Harbor. Their annual rate is about $200/ft, so you are starting at $10k with a 50' boat (they are one of the cheaper marinas in the area). This assumes they allow it and don't charge you double for being a commercial operation.
- Electric is extra and a 50' boat is going to use a lot to keep cool on a hot summer day. Most boats are horribly insulated. (lets say $3k/yr)
- While you don't need a boat ready to round cape horn, a 50' boat that appears to be nice to renters is probably still going to be north of $200k (could easily be much higher).
- Commercial insurance...not sure, but I would be shocked if it was under $5k/yr. Probably more like $10k/yr.
- Season: Maybe 6 months, so figure 80% (generous) occupancy for 180 days.
- While not sailed hard, the interior will be used hard and lack of use is really harder on the engines than regular moderate use. I would figure at least another $10k for maintenance and repairs.
- If you wanted to take it out from the dock with paying guests, it's a whole different ball game with a licensed captain required and other complications. We'll set that aside for now.

That adds up to a $200k initial outlay and $33k/yr.

Assuming an 80% occupancy rate over 180days/yr, you need to charge $233/night just to cover annual expenses.

In addition, you need to provide return on investment and to cancel out the depreciation on the $200k initial investment. Let's say 15%/yr. That's another $208/night.

That works out to about $450/night. As a boater, Liberty Harbor is a great location but a couple spending that kind of cash is going to want luxury and staff available to take care of things. Liberty Harbor is basically a big parking lot next to a basin. If you are thinking to cram 10 people on the boat, you just made it exponentially more likely the marina nixes the idea.

I would suggest talking to the marina and your insurance agent before doing anything but if you really decide to go thru, get a small cheap boat to try it out first. If you run into issues, it will cost you a lot less to clean up the mess.
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Old 22-06-2016, 13:38   #13
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Re: OK, so I'm a newbie, but...

I have actually looked at a couple of boats on AirBNB in the Charleston, SC area. A couple are in marinas and 1 is more of a private dock. I think it was in the 44 foot range. Seems like the nightly rental was about 200-250ish. 2 night minimum I believe. Some also offer cruises at an extra charge and with a captain- not just you taking their boat out.
I would guess if you could maintain the right type of clientele you could make some money with little risk..just keep the frat boys out. Lol.
Would be good for a quiet romantic getaway for a couple..or for people contemplating a liveaboard scenario that wants to see if they can handle the limited space for a few days.
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Old 23-06-2016, 06:38   #14
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Re: OK, so I'm a newbie, but...

According to a recent article I read insurance companies consider this the same as chartering. If you do not have insurance that covers chartering you may not be covered for either property or liability in the case of need.
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Old 27-06-2016, 08:34   #15
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Re: OK, so I'm a newbie, but...

Don't you just love all the armchair pontificators around here? Never done it but they have an opinion. Anyway I tried it while anchored out on my 30 foot boat. I was overrun. I finally quit when I realized I wanted to cruise , not run a BnB. But I would do it again if funds ran low.

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