Leasing Boat to Sailing School

[hdhouse3rd]

Greetings,

I am looking at buying our sailing catamaran (used). A sailing school has approached me about allow them to use it for teaching. I think this is a way for me to offset the maintainence cost. I am wondering if anyone has experience out there and what is the structure to the agreement and terms?

Thanks in Advance!

[George_SD]

It's not too dissimilar to chartering out, probably even less impact as sailing school will probably focus more on sailing than motoring around and won't be using your stove, etc. A guy I know bought a $1mil yach and put it into a charter as a way to pay for it, but uses it pretty much as much as he wants as long as he books it on the calendar ahead of time. Not a bad deal, especially if you run it through a business for write-offs/tax advantages.

[ChrisJHC]

Reasonably common in these waters.
It’s exactly the same as chartering out.
In Aus it would have to be fitted out and registered as a Domestic Commercial Vessel which adds to the complication and cost, but would also have to be done for a charter vessel.

The boat will probably get lots of small bumps but shouldn’t get any major damage.