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  #1  
Old 12-27-2012
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Boat Share Ideas Please

Has anybody out there set up a boat share situation? I own a Centurion 32 and am thinking of trying to find someone who could trade part of the mooring fees and insurance costs in return for use of the boat. If anyone has done this, I'd like to hear of your experience. Other comments/opinions are welcome, too.

Btw, the boat is moored in False Creek, Vancouver B.C. in case anyone in this area is on sailNet and is interested.

Ross
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Old 12-27-2012
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Re: Boat Share Ideas Please

I don't see why not. It is the great way to reduce the cost as long as you are not too anal about your toy and easy going.

I would post a note in local clubs and marinas, perhaps an ad on Craigslist. Good luck.
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We share our dufour arpege with some friends of ours and it works great for us. It is legally my boat, but we treat one another as equal partners and share the annual expenses evenly. Capital expenses are treated on a case by case basis, but since I own the boat they are generally mine to bear.
Since my current life situation doesn't allow me on the water as often as I would like, I've found boat sharing to be not only a big money saver but also nice to have the boat used a bit more and thus also better maintained. We don't always sail together, but try to invite one another along when possible so have never really had as usage conflict. We don't have any kind of formal agreement, just a handshake deal that is good for one season at a time and an agreement to keep it going so long add it still works for both of us. That might not work for everyone, but we are friends and coworkers and trust one another enough to make it work.
So far so good.
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Old 12-27-2012
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Re: Boat Share Ideas Please

We were involved in a boating partnership that ran over 15 years. With the right group of people it can be an ideal situation. The difficulty is finding that person/those people.

In our case we had sailed with our partner couple (on our own boat) for a number of years before entering into any kind of formalized agreement. It started as a three member syndicate running 2 boats, one (28') kept in Squamish, the other a Mtn 242 that we kept at Thunderbird and raced on English Bay. One partner sold his portion to another friend and the situation continued. Shortly thereafter we got 12 footitis, but the newest partner wasn't ready. He bought out the 28 footer and we carried on with a new-to-us 40 footer and the Mtn 242. This situation lasted another 12 years.

Advantages are multifold... half the bills, half the work, shared maintenance, access to a larger boat than might otherwise be possible, and on and on.

It's important, though, that both parties are on the same wavelength in terms of priorities, disposable income, types of usage and desirable upgrades. It's a pretty big bill to fill by advertising or random hookups.

We knew from the outset there would be no issues with personalities because we were well familiar with our 'new' partners. Tough to be so sure with new acquaintances or contacts. (Although sometimes you don't really 'know' someone until there's money and assets at stake, so perhaps we were just very lucky)

In any event the partnership dissolved on the basis of a career change and a relocation that made continuing it impractical.. we are still friends, have each gone out and bought smaller, similar boats and continue to cruise together.

One unusual aspect of our arrangement is that we almost always sailed together as a group, rarely did any one half want to take the boat out for more than a couple of days here or there. Most more business-like partnerships usually involve a timeshare kind of scheduling that could possibly raise some conflicts and issues, esp in 'prime time'.

We did buy the larger (registered) boat jointly, with each couple individually holding a 16/64 share.. this mostly for estate and survivor issues. We did have a semiformal procedure for dissolution drawn up and agreed to, and in the end it worked out, we sold the boat to another pair of partnership couples. That one didn't have the harmony of ours even from day one...

If you can find the right match, it makes a ton of sense. No boat gets utilized as much as it could/should be, and it would benefit from the 'extra lovin' that could result!
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I'm not interested, but was wondering if she is the centurion 32 that was out at Granville island on the hard for a bit? If so, she sure is a pretty boat.



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Old 12-28-2012
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Re: Boat Share Ideas Please

I have been in a shared ownership arrangement with a sailing friend that worked quite well over 10 years. Shared means both names on the documentation AND on the insurance.

If you want to consider sharing the use of your boat, but not the legal ownership, then it needs to be well defined legally. I would expect that for your own legal protection, the other party should sign a charter agreement outlining their use privileges and obligations, and more importantly, your legal protections. You will need a rider from your insurance company for the other party, and this may be troublesome to get as in my experience most marine insurance companies do not want to do charter riders. You may need to shop around for an insurer willing to do so.
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Re: Boat Share Ideas Please

I shared ownership of a power boat with a freind when I lived in southern California, it was great, we split everything 50/50 and alternated weekends. During the week we would just give the other a heads up as to usage. We did it for 5 years and it cost me $1,000's less than sole ownership and I did not have to feel bad if I missed a weekend which I did before I sold 1/2 the boat.

If you have a good partner and are not super anal about things it's a perfect set-up.
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Re: Boat Share Ideas Please

Quote:
Originally Posted by azguy View Post
If you have a good partner and are not super anal about things it's a perfect set-up.
That's probably the key ingredient right there... unless you're both equally super anal
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Re: Boat Share Ideas Please

Here is some boat sharing software, and a sample share agreement form. I was a member of Sailtime, and the scheduling software looks very similar. It automatically creates equitable time slots according to how you configure and how many members you have.

Boat Partnership
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Re: Boat Share Ideas Please

Thanks everyone for the very positive feedback on this idea. I was once in a full partnership with two other people and that worked very well. On the other hand, a friend of mine ended up having a disastrous partnership. One odd thing about my previous partnership is that it actually began to cost a little more than I could afford. It was very easy to spend money on better equipment and/or on having work done instead of doing it oneself: “Gee, one third of $1,000 is only $333.33! Let’s go for it!” My partners were great guys but had more money than I did

Sailingfool brings up the issue of insurance and legal aspects of sharing use and operating costs rather than being full owner/partners. These are very important and have been on my mind. I will start by checking the insurance situation with my company.

Ninefingers provided a link to a boat partnership. Thanks, I’ll be looking into that.

Jgbrown asked if mine was the boat out on the hard on Granville Island for a while. If you mean during the summer, and the bottom was being painted red, then yes it probably was. Thanks very much for the compliment. I like the boat!

Obviously personality (and anality(?)) are critical in something like this and those are hard to fully assess, even in close acquaintances, let alone strangers. An ‘interview’ and some sailing together should help. Has anyone got any pointers on other ways to bring out incompatibilities?

Again, thanks for the feedback so far.

Ross
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