Renting Boat as Liveaboard

[nimblemotors]

Does anyone rent out their boat as a liveaboard in a marina?
I'm thinking once I get my boat rebuild done I might rent it out until I'm ready to take it cruising. Otherwise, is it just better to keep it in drydock until then?
I don't want to pay high marina fees for years to have it just sit.

This would be in the sfbay, which has very high rents for apts, I know a lot of people live on boats in this area, but do they rent them??

[nimblemotors]

So I take it that no one rents their boat out for a liveaboard.
Is that because nobody will rent it, or you don't want someone else to live in it?

[rivonia]

By all means rent it out ...that is if you want a wrecked uncared for smelly dump when they leave it!. I know I know not all people are like that but me I would not take the risk.

Good luck

Peter

[Doodles]

Sorry, but I can't imagine renting out a boat as a liveaboard. I can see chartering where you get to check out the condition of everything periodically, but with living aboard it could be quite a while before you discovered a problem.

Remember, nobody is going to take care of her like you would.

[nimblemotors]

How would it be different than renting out a house on land? That is done all the time.
Yes some renters trash the place, setup meth labs, not pay, etc, etc.

Chartering is even more risky, I would rather the boat never leave the dock!

[Cheechako]

In a good location. Renting out on a weekly basis might work. Just rent it out as an on the water motel room with "ambiance". Chain it to the dock.

[ADMPRTR]

Originally Posted by nimblemotors

How would it be different than renting out a house on land? That is done all the time.
Yes some renters trash the place, setup meth labs, not pay, etc, etc.

You would have all (or many) of the same risks of renting a home plus a few that are unique to boats (like leaving the marine head in open position which could cause the boat to sink, etc.) There would also be liability and insurance issues potentially. I know my insurance has a clause that says the boat will not be hired out.

You also lose the use of the boat.

However, if you had the right person that you could trust, it might be a way to offset some costs but I recommend treading carefully.

Andrew

[boating2go]

I have only been at three marinas but all of them would not allow you to rent. That was spelled out explicitly in the slip lease.

[SabreKai]

It can be done, but how to find one is the question. My brother spent last summer on a 31 foot Bayliner and was happy as a clam. Was paying $400 a month for it, but had to move out when they all came out of the water. Whether it was legal from the Marina's point of view is unknown. This in Lake Ontario at Port Credit Harbour Marina.

[nimblemotors]

Renting it by the week as a vacation rental would be great if it could be kept busy enough.
For SFbay, it might even be possible. But probably unlikely the marina would allow it, without some special deal with high rates, insurance, etc, etc. So ends up probably just making more income for everyone else but the boat owner.

I noticed an ad on craigslist just recently about a place that handles insurance for private boat rentals. Maybe they could do it for a boat that never leaves the dock as well.

But this way I could use it myself fairly easily.
It sounds like work.

I think it would be better to have someone live on it that is more like a friend,
as such the marina could view them as a part owner or something to avoid their rental rules. Then I might still take it out once in a while. Would definitely need to be the right person.

Otherwise, leaving in dry dock for how many more years doesn't sound like a great plan either.

[Navicula]

Forget renting it out to the public...... Turn it into a grow-opt and you will make some money..... The marina does not check how much hydro you use.....
Just my 2 cents

[Bash]

The difference between boats and houses is that boats have souls.

(And soles, of course. Neither of which should be put up for rent.)

[roverhi]

The Marina will have something to say about renting a boat in a slip. May not be an issue but probably a deal killer especially if they charge extra for live aboard. Location of boat also makes a big difference. In Honolulu, there is a demand for cheap rentals. Made an offer on a POS derelict boat that was 1/4 of the sellers unrealistic asking price. He just laughed at my offer because he was netting $400 a month as a rental.

[hellosailor]

1. Find out if your marina allows it.
2. Find out if your municipality allows it.
3. Find out if your insurer allows it. And how much extra insurance you'll need in case they burn it down and you have to pay to have it salvaged.
4. Find out if your finance will allow it.

Now figure out the damage deposit you will want and whether they will be allowed to sail it, or just live on it as a houseboat. And who pays for repairs. And whether your municipality is going to hold you as a "landlord" with obligations you haven't dreamed of yet.

This is all Business101 Due Diligence. If you can get it all down on paper and it still works, by all means go for it.

Or sell 'em the boat, retain title lien on it, and agree you'll buy it back in ## months for ## dollars if it is in ## condition, so it is their problem in the meantime and you've got the title and the right of first purchase after the time's up. All sorts of creative ways to do a leaseback agreement that way.

[boatdreams]

Hi nimblemotors, were you able to find out any info about your marina's rules and regs concerning renting? My boyfriend and I are very curious to learn if livingaboard as short term (1-3 months) renters is even a possibility. We'd ideally like to find someone that willing to rent a motor yacht for a month or so. We want some idea of what the lifestyle would be like before committing to a boat purchase. Know of anyone in the market?