subject: Boat Share Basics And Benefits [print this page] The boat share concept falls somewhere in the middle between a one-time charter and going all in to buy a boat outright. For anyone who won't be living in it or using it every day, buying a vessel might be overkill. On the other hand, charters are limited to annual trips like a vacation.
Sharing ownership of the vessel circumvents many of these problems and offers flexible sailing dates and time on the water, while not requiring a large investment and the ongoing hassles and costs of single ownership. Sharing a vessel means not having to deal with issues like insurance, marine fees, etc. Probably the single biggest benefit is freedom from having to deal with the cost and trouble of maintaining the vessel.
Way it works is that there are boat share or fractional yacht ownership companies that manage the whole thing. People can buy actual shares that provide fractional ownership in the vessel. It could also be a timeshare arrangement where members simply pay annual membership fees and usage charges which are much lower than the cost of a charter.
There are many variables involved here, so do so some comparison shopping to see which company is offering the best deal. For instance, how much time per year does a member/owner get on the vessel, and how does the booking arrangement work? Some companies have limits on how soon the next trip can be taken after one trip out on the water.
Others may require some form of advance notice to prevent a clash of dates between co-owners of a vessel. This is especially true during peak periods, such as holidays and summer vacations. Then there's the question of the maintenance and who pays for it.
Then there are also questions about the crew (if any) and other such factors that depend on the size and type of the vessel. The summary of it is that a boatload of money can be saved by opting for a boat share. It allows people to roam the seas at will without having to pay through the nose, but it still has to be looked into carefully to make sure the arrangement is legit.
by: Ben Sail
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