Originally Posted by Capt Shad
I’m new to the forum and have found myself in a unique position. I have a 41' sailing yacht (I was informed it's a yacht because it has an ice maker) and a 200 year old (very rustic) log cabin hidden in the hills of western VA. I'm pondering splitting my time between the two and swapping the time I'm not on one or the other with someone. I'm thinking of renting the cabin to renter year round then letting them use my boat from mid-spring through mid-fall. My insurance will allow me to loan my boat to another qualified person(s) so I'm good there I believe. I’d have to find the right person and I'd want a long term arrangement (2-5 years) with large deposit. I'd provide the major maintenance and all cost except slip fees while they're cruising. Has anyone heard of this type of arrangement? Any glaring holes in the plan?
"Just how good a red hot idea is depends on how much heat it retains after someone throws cold water on it."
I have two sailboats, one in refitting mode and the other basic, but fully functional for short-haul (under a week or so) cruising. I share the costs of the second one quite successfully with a commercial
pilot who, like me, a freelancer, has weird days off (not weekends, necessarily). This has worked out reasonably well as he is a good sailor and leaves the boat cleaner than he found it (being a pilot, he's happy to deal with my "shut down the boat" lists).
I had a different partner before him, and it was a disaster.
So I would say, from direct experience, although on a different "time-share" model that doesn't include shoreside property, that you need to find someone very much alike to yourself and to your own expectations who is both prepared to agree to your deal, and whose habits are close enough to your own to reduce friction.
Lastly, as it remains "my boat", I take care of all but the most trivial of repairs
and upgrades. This has meant a slightly greater time and money
commitment on the shared boat than would have been the case had it been me alone, as I would've simply "made do" or deferred upgrades or fixes until the winter
. Instead, because I have an actual jet pilot using the boat, it is in a higher state of maintenance than ever before, because I want him to keep wanting to sail and covering half the marina fees.