Join Date: Oct 2006
Location: Callao, VA
Thanked 15 Times in 15 Posts
Rep Power: 10
good luck, and be sure to search the forums for similar posts. You could write a book on the disadvantages to match the marketing creativity of the charter managers.
For some it works, but if you think at the outset that the charterer will use YOUR boat and "possibly not taking good care of it"..I would rethink the whole idea.
They will not take care of your boat, think rental car..
They will "lose" valuable items, that you will have to replace at cost plus 40-60% before the next charter. Things like dock lines, both sets, will be "left somewhere, earlier this week". The manager will not charge "his best clients" for "little things like dock lines"
Anything not nailed down will be used, abused or misplaced..
Your insurance will be higher as you are now a charter boat owner, and you will likely need a fairly expensive $1M liability policy, just in case
Slippage will be higher, because the client wants to park his car near the boat, not walk, as does the management company, cleaners, fuelers, etc.
Maintenance will need to be done 6- 10 times more often, and likely by the $100 hour technician, unless you are going to take off work to do it.
Then the wear and tear of a 2 year old charter boat, will be similar to a 10-12 year old non charter boat.
Unless you have a more compelling reason to do this, I would seriously think other wise..