Let’s be honest. Owning a boat brings you a wonderful lifestyle… but it has it’s drawbacks.
The first drawback is cost.
Boats are expensive to buy and expensive to run. Most boat owners know that it costs 10% of a yacht’s purchase price every year to look after it.
The second drawback is hassle.
To keep your boat in good working order takes effort. There’s cleaning, engine services, slipping and anti-fouling and fixing and replacing inevitable breakages. All this work can eat into your precious leisure time.
Boat share came about in an effort to solve these problems.
After all… why pay for a whole boat when you only use it 30 or so days each year? And if the cost and hassle of maintaining the yacht can be shared as well even better!
But does fractional boat ownership really work? And which system is right for you?
The first thing to think about is whether or not to go for a fully managed yacht syndicate.
A fully managed boat share certainly has huge appeal. If a good, professional management team run your yacht syndicate you will get hassle free boating.
You can turn up, walk onto a clean, well-maintained boat, sail away, unwind and relax. On your return to the marina you can hand your boat back and head home.
You don’t need to worry about cleaning, slipping, fueling or maintaining your yacht. Which means don’t need to know a huge amount about yacht maintenance and you can still own a boat.
And of course your free time is yours to spend sailing your yacht not looking after it.
There are other, less obvious, advantages of managed fractional boat share. In the past when most boat shares were not managed, certain problems arose.
Not everyone kept the boat clean and tidy. Not everyone admitted to damage they caused. And not everyone wanted to end the syndicate at the same time.
These situations often led to arguments and bad feeling.
Obviously if you appoint a syndicate management team it’s down to them to deal with problems like these.
Of course your boat share will only run smoothly if you appoint a good team to oversee it. I suggest you only consider tried and tested companies with a good reputation – a personal recommendation is ideal. For more information on boat share systems head to ownaship.co.nz
Are there any disadvantages of managed boat shares?…
The obvious drawback is that you have to pay the management company!
Only you can weigh up this cost against the benefits a full management brings to your boating experience.
Bear in mind that even with a management team in place your overall boating costs are usually still hugely less than your alternative options of chartering or traditional boat ownership.