I can say from experience i did a long term charter
once with good success. I started by finding a boat
that was 1) for sale
and 2) I wanted to spend a year cruising on. Speaking directly to the owner I made an offer to pay a charter
fee and insurance
in advance. The boat
needed some cleaning
and a few thousand in maintenance
to make it ready but the total out of pocket for the year was less than $20,000 that was back in 2001. Key to making these deals is to take the risk off the owner. Be prepared to turn over the cash in advance, provide insurance
should anything go wrong. Be willing to accept full responsibility for the boat as if you are the owner.
Boat are generally better off being used as apposed to sitting idle in a marina or yard. The guy we charted from got back a much better boat after a year than we started with. We fixed and improved things daily living aboard
. I expect I could repeat this transaction over and over again. There are many boats out there owned by folks that are too busy to use them now but they may not be ready to sell them. Most would jump at a chance to put $20,000 or $30,000 in the bank and forget about their boat and associated cost for a year.