1 Year Charter

[BothFeet]

Has anyone done it (from either side of the transaction)? I'm considering chartering my 45ft 2000 Leopard to a family. Obviously there is a LOT to consider. Any help on calculating a fair rate would be much appreciated. Here is my check list so far:
sailing resume
number and ages of passengers
insurance
cruising area
deposit
routine maintenance
major repairs/failures
hidden tracking device

As for rate here is my formula:
value/4= annual rate
$295,000/4=$73,750 ($6,145. 83/month)
Thoughts?

Thanks for any advice,
Scott

[Macblaze]

Originally Posted by BothFeet

Has anyone done it (from either side of the transaction)? I'm considering chartering my 45ft 2000 Leopard to a family. Obviously there is a LOT to consider. Any help on calculating a fair rate would be much appreciated. Here is my check list so far:
sailing resume
number and ages of passengers
insurance
cruising area
deposit
routine maintenance
major repairs/failures
hidden tracking device

As for rate here is my formula:
value/4= annual rate
$295,000/4=$73,750 ($6,145. 83/month)
Thoughts?

Thanks for any advice,
Scott

You've found someone who will pay $73,000 for a year? Lucky you. When we were trying to figure out if we wanted to charter for a year we looked at it from the other way and ended up calculating maximum depreciation if we bought and then sold. And we ended up buying...

Remember in general the term Charter comes with some expectation of service and support from the charterer. Something to clarify before signing.

As for things to consider based on our year-long-sojourn:

• battery management was a big learning curve, I'd be prepared to lose more than year's worth of life.
• storm season/winter rules
• some sort of process for minor stuff that might cost a lot done in a yard: broken wind vane, burned out anchor light
• the right to perform (potentially bad) maintenance or repairs
• boat cleaning/supplies
• the heads
• rescue/seatow
• cookware and other contents: breakage etc.
• leaving the boat unattended: how long and where
• guests aboard
• and you might want to consider an entire set of rules just to cover the tender — which is where most of my major cockups occurred :-)

Hope that helps...

[Scot McPherson]

I think the _rate_ is fair, but I think it makes no sense for that person to charter a boat for a year. Would make more sense to buy a boat for half that and get rid of it when they are done.