Monopoly marina ownership makes disabled veteran homeless

[Tellie]

Originally Posted by Cadence

Financial adviser, hell no. Been a suit and then owned a business which I floated a loan for the property. Just speaking from limited experience. My wife has an LLC just so suing us is limited to that piece of properties worth, as I said a protect your ass loop hole.
I've been through the Okeechobee ditch, but those areas aren't conducive to 30 live aboard investors unless they are mosquitoes.

LOl. It's a hard decision, Swamp angels in Moorehaven or No-seeums in Ft. Lauderdale.
Yeah, I was a bit into commercial real estate years ago and certainly understand loans and getting one for a venture like this isn't as easy as a home mortgage.

[CaptTom]

Originally Posted by Jammer

In many ways, Dockominiums are the ideal ownership structure, at least for people who want a long-term commitment to a slip.

One down side to dockominiums is that each individual owner is a property taxpayer and needs to buy insurance for that property.

The "club" model is preferable, IMHO. The club pays one tax and one insurance bill for the entire marina. As a "member" I have an ownership interest in the club, and exclusive use of one slip, but no other obligations beyond annual dues.

I was surprised to find that there are dedicated "marinas for sale" web sites, and just looking at asking prices, divided by number of slips, seems to yield some very workable numbers for the idea of the slip renters buying the place and converting it to a club. But I'm no MBA, so there is that.

If a group of CF'ers were to get together and do one of these conversions, I'd be interested in participating. My guess would be each member's cost would be well below the $100K @Tellie was willing to put up. Possible half that, or even less. But again, that's just me guessing.

[CyKlop]

I'm a little confused. In your post, you said the rule was no new live aboards. however, you're an existing one. So... don't you get grandfathered in?

[fstbttms]

Originally Posted by markpierce

Has governmental policy have involvement in this issue? In my area, liveaboards are limited by regulation. (Am not aware citizens voted on this issue.)

The limitation on liveaboard slips in the Bay Area was put in place by the BCDC (Bay Conservation & Development Commission.) It is not a law, it did not require a vote and honestly (in this day and age) is probably a good idea.

[rsementi]

I’m sorry to hear that they’ll no longer allow you live aboard. I don’t understand their motive other than it might cause risk to their property somehow. But again it’s their property and they have that right just as you do on your own property. I don’t like the fact you are using words like monopoly and homeless and veteran for emotional sympathy. I have a very high regard for the sanctity of your own private property.

[DDabs]

I live and work in a Safe Harbor Marina. If ya can't beat em, join em

[Martinini]

There is NO ONE to keep Marinas from doing whatever they want in the U.S. period. Not until someone dies and relative's sue! Every agency disavows ability to enforce anything at a Marina! Florida, California, and Washington States have minor protections for Liveaboards!

[Gingersnap]

Wow, thanks for the warning. It is hard to just pull up and move with added expenses and changes in addresses and connections with physicians. It gets harder as we get older with limited income. I am very sorry this happened to you. I am still thankful you served our nation and I wish we could treat you better.

[mark0978]

Bienvenidos a México!

[timb7734]

Yea well, all ya all grow up. Companies can only do this because dock space is scarce. Waterfront land is more profitable to be condos if the marinas don’t keep up financially. Thank all your environmentalist friends for making marinas costly to permit and build or change. I own several docks but still have had to wait months without sight of a resolution for enlarging a dock in FL.

[Happ]

Originally Posted by Gulfstarcapt

There is a conglomerate marina ownership corporation that just won't stop buying marinas. Based in Dallas, Texas, this giant company started buying every marina on the east and gulf coast. As soon as the 2017 tac cuts gave them millions to spend on buyouts, all the local "mom & pop" local marinas became targets. Then after a year of advertising and making 'friends' with the communities, they started flipping the big switch.
Rate increases, contractor restrictions, increased insurance requirements and yes, live-aboard restrictions.
As a retired, but still working, navy veteran, I planned to continue living on my boat until I was physically unable. Then, this company outbid everyone around to take over management of a small, quaint, but popular municipal marina. After just 2 years, they decided to enforce a seemingly arbitrary policy of "no new live-aboards after August, 2020" . Funny thing is they decided to start enforcing this in April of 2021. I now have until August 1st, 2021 to " not live aboard". It's fine to keep my boat at the dock, they said. I just can't spend every night on it. I wouldn't have a boat this size if I wasn't living on it. Now, this disabled Navy Veteran will be homeless.
Yay corporate America!

I’m sorry to hear about this issue. As a private Corporation I doubt there is much you can do. However if anybody can help you out contact your local Congressman. They are incredibly helpful.

[Happ]

Originally Posted by markpierce

Has governmental policy have involvement in this issue? In my area, liveaboards are limited by regulation. (Am not aware citizens voted on this issue.)

This country is a Republic not a Democracy. The difference is in a Republic you vote for someone to make the decisions.

[Robert Jansen]

Just wondering whether or not the business model violates anti-trust laws (the corporation is trying to establish a "horizontal monopoly").

[Cadence]

Originally Posted by Robert Jansen

Just wondering whether or not the business model violates anti-trust laws (the corporation is trying to establish a "horizontal monopoly").

I'd bet it would be hard to prove. It's not Standard Oil. It's probably already spit up like Standard Oil was forced to do?

[AJA]

Originally Posted by George_SD

Sorry to hear about the unfortunate turn of events. It seems this is a common practice in the business world. Perhaps it may be a time to relocate?

Terrible situation. The same thing has happened in Narragansett Bay. A company called “safe harbors” has bought virtually every marina in the State of Rhode Island. Only the private clubs are left. A fact which may be your salvation. I understand that The Navy has naval yacht clubs around the country. I know the war college here in Newport has its own marina with slips and accommodations. Perhaps you could join one of those?