renting your boat out???

[berryfarmer]

Still in the dreaming phase… Looking to liveaboard mostly, but critical thinking also says that there will be times my son and I will NOT be able to live on the boat and have to come back to our property here. What kinds of options are there, if any, that are widespread (that’s a big key, if we have a family emergency and have to park somewhere for a period of time and fly “home”) to offset the cost of parking your boat? My income is going to be limited while on the boat to mostly renting out our land properties…. I have a friend who is a pilot and he was talking about offsetting the cost of airplane ownership by renting it to reputable companies that handle all the scheduled maintenance and such while using it as a teaching plane, etc….. Is there something like that for boats? Such as, if I know I’m going to be gone for longer periods of time? I’m sure one could procure deals with private captains for things like that, but, looking more along the lines of dealing with a company that would be able to handle this from multiple ports.

 

[rwidman]

Personally, I would sooner rent out my wife than rent out my boat.

Perhaps my answer would be different if I had not spent so much time working on it and making it "mine".

 

[berryfarmer]

Personally, I would sooner rent out my wife than rent out my boat.

Perhaps my answer would be different if I had not spent so much time working on it and making it "mine".

I get that, and maybe with airplanes it’s different since the FAA is so strict about maintenance. My biggest concern would be my inability to budget for a longer term dock storage in the event of an emergency. Curious if there are ways to offset that…. I guess one could “airbnb” their boat out at dock, but not sure if it would provide enough income to pay for the docking fees, let alone finding and paying a cleaner to come in and a co-host to handle the issues that will arise.

 

[DavidM]

Realize that renting a boat out is considered commercial use which is not covered by most boat insurance policies. Homes and rooms rented out are usually covered. Does boat insurance cover AirBnB rentals at the dock only. Not sure, but I doubt it.

The only way to do this and to be covered is to register with a boat chartering company and be covered by their master policy.

David

 

[berryfarmer]

Realize that renting a boat out is considered commercial use which is not covered by most boat insurance policies. Homes and rooms rented out are usually covered. Does boat insurance cover AirBnB rentals at the dock only. Not sure, but I doubt it.

The only way to do this and to be covered is to register with a boat chartering company and be covered by their master policy.

David

Thanks, that’s kinda what I was wondering. I’ll be looking into larger chartering companies. It would be nice to have that as a backup should something unexpected arise and I have to rent a slip in a more expensive part of the country or world….

 

[psneeld]

There are TONS of Air B&B boats around the country, call them and they walk you through the process/requirements.

https://www.airbnb.com/rooms/29655594

Like Uber and taxi companies, there has been a growing pains process but seems stable at the moment.

 

[Larry M]

I would never rent out my boat. I’ve fixed enough stuff that informed guests have broken.

The first time someone flushes something that they haven’t eaten first down the toilet at 3 in the morning? A lot of marinas restrict live-a-boards and even more so commercial enterprises. Nope!

 

[berryfarmer]

I would never rent out my boat. I’ve fixed enough stuff that informed guests have broken.

The first time someone flushes something that they haven’t eaten first down the toilet at 3 in the morning? A lot of marinas restrict live-a-boards and even more so commercial enterprises. Nope!

I can get behind that, but…. my budget doesn’t allow for an unplanned long term high dollar boat slip. Trying to mitigate stuff like that before it happens. I’m happy others have enough money not to worry about that, but I’ll be living on a very strict budget.

 

[psneeld]

I get the "not my boat" feeling, but at the prices being charged, a lot can be fixed by the managing companies that handle these setups...at least the few I am familiar with.

Worth looking, into if part of a business plan.

 

[berryfarmer]

I get the "not my boat" feeling, but at the prices being charged, a lot can be fixed by the managing companies that handle these setups...at least the few I am familiar with.

Worth looking, into if part of a business plan.

yeah, I am totally not hating on those who can afford those unexpected high dollar slips, I’m just trying to put my prepper mindset to my dream of a boat lifestyle… An unexpected high dollar slip in a popular port would devastate my budget. I am certain I can make my budget work, but it’s going to be strict in order to have enough squirreled away for unexpected boat issues. Thousands of dollars a month just to park it are not in the cards for me short of winning the lotto. Airbnb would be an option, but not a great once since it would require a LOT of outside people to make it work, a single management company, even if I got almost nothing for it would be more my speed as long as they took care of things. Frankly, that sounds like a wonderful new startup, someone with the ability to handle that kind of thing and market it to us owners with less resources than others. Keep maintenance up, pay for everything (keep it at slip, not let anyone drive it) and make the unused boat not cost us quite so much. My fears are medical emergencies, family emergencies, land based property emergencies requiring me to pretty much immediately vacate the boat, leave it at the closest suitable marina and not be able to take care of the boat for an extended period of time. People do it for airplanes, that’s gotta be more expensive than boats, but…. they do have the FAA looking over their shoulders which we do not, so there is always that. Anyhow, I’m interested to hear more opinions on the matter. I’d love to be able to have no fear to just park it wherever, pay the marina to look after things and come back as I pleased, I just don’t see that in my budget.

 

[Slo-Mocean]

I had debated putting my boat in a charter program but after speaking with the original owner he advised me that it can be a handful around the dock in windy conditions in the hands of experienced hands, much less someone with little experience with the boat .

More than anything Proper liability insurance would concern me incase something happened , my wife is in the insurance business .


I have thought about proposing a 1 year lease out there for someone with experience that would like to Loop it as long as it stayed in the US and out of hurricane zones during season .

 

[ranger58sb]

We tried letting an earlier boat out for charter... but didn't like the experience all that much. Probably needed a better charter management company... who might possibly have screened charter customers better... and this was during the period we were still working, didn't have lots of our own time to do post-charter maintenance ourselves.

I decided if we charter, it'll be me in charge (I'm licensed and so forth)... and then we eventually moved up to a boat with a design that's better for crewed chartering... but then too, I don't really have the personality for comfortable chartering. Probably not great for repeat business if I make too many customers walk the plank for some minor transgression...

-Chris

 

[berryfarmer]

We tried letting an earlier boat out for charter... but didn't like the experience all that much. Probably needed a better charter management company... who might possibly have screened charter customers better... and this was during the period we were still working, didn't have lots of our own time to do post-charter maintenance ourselves.

I decided if we charter, it'll be me in charge (I'm licensed and so forth)... and then we eventually moved up to a boat with a design that's better for crewed chartering... but then too, I don't really have the personality for comfortable chartering. Probably not great for repeat business if I make too many customers walk the plank for some minor transgression...

-Chris

hahaha, I feel that deep in my soul I may run a few charters off of my boat when we finally find a “home port” but it would be just for a little pocket money on top of our budget and not something I would need to rely on. I’m leaning more towards a company that has dedicated captains to pilot, or the boat stays in port and is treated as a fun airbnb…. I would not really consider just letting anyone with a few hundred bucks in their pocket drive it out of port lol. I Wouldn’t want to personally captain any overnight charters beyond one night, more along the lines of if someone wants to go dive a specific site, or go have a full stay on board fishing experience while on vacation. Beyond the scope of this post though, I’m getting off track lol. This is mainly a “mayday” type situation where I had to park it in a slip that cost what my entire monthly budget is and trying to mitigate that somehow.

 

[kthoennes]

Personally, I would sooner rent out my wife than rent out my boat. ...

HA! My first thought was something along those same lines, but I won't mention that to my wife. Good one. I think there are two guys on earth I'd trust to borrow my boat. I'm not even sure I'd loan it to my dad, he tends to flog the daylights out of boats, wide open throttle, running them like a -- well like a rented mule. I know there are lots of companies out there who will manage chartering your boat as a way to defray costs, single-owner or fractional, but every time threads like this come up, many of us recoil in horror at the idea.

 

[psneeld]

Charter and Air B&B are 2 different things.

Most overnigthers really would be hard pressed to screw up more than head plumbing.

They don't operate the boat, just use it as a waterfront motel room with the twist of it being different and therefore charge way more.

 

[Slo-Mocean]

I couldn't do a captained charter as my boat is set up for a couple with one head and stateroom and also even though I'm a friendly people person i dont want to deal with Todays general public .

I owned and captained a parasail business for 20 years down here in SW Florida and got out of it years ago just as People became self indulged and rude .

 

[psneeld]

Pretty sure you can screen Air B&B renter's.

That may help alleviate some concerns.

If I really needed the money to fulfill the dream of boat ownership, I would make the contact to see just what pros and cons the people who run the program had to offer.

 

[kthoennes]

One more thing, I just got our auto insurance renewal package and they added a whole booklet of amendments this time, excluding any use of our cars for rental or for-hire purposes -- excluding any coverage for Uber or Lyft usage in other words. I'll bet home and boat insurance policies will move to the same exclusions, if they aren't there already. Charter your boat, pay far higher insurance rates for a policy that will cover that kind of use. Personally I wouldn't want to be a landlord or the owner of a boat for charter (even managed by a third party company), but lots of people are, and I assume a good number of them make really good money. I just think of all the complications and responsibilities of home ownership now, and boat ownership, and there's no way I want a whole new dimension of complications. But that's me.

 

[berryfarmer]

I couldn't do a captained charter as my boat is set up for a couple with one head and stateroom and also even though I'm a friendly people person i dont want to deal with Todays general public .

I owned and captained a parasail business for 20 years down here in SW Florida and got out of it years ago just as People became self indulged and rude .

I can’t imagine what you had to go through lol. As others have mentioned, really all I am thinking of is some kind of management company to manage it as an airbnb, but, if I could find some company with certified captains to take it out, I would not be opposed to that. I’m just trying to cover my butt if I needed to leave it for an extended time in a high dollar slip.

 

[Slo-Mocean]

I can’t imagine what you had to go through lol. As others have mentioned, really all I am thinking of is some kind of management company to manage it as an airbnb, but, if I could find some company with certified captains to take it out, I would not be opposed to that. I’m just trying to cover my butt if I needed to leave it for an extended time in a high dollar slip.

Availability and Affordability of slips and yards in SW Florida has dramatically changed since the hurricane last year. I currently dock in front of a residential dock but you can't stay onboard at dock more than a few nights per county regulations.

The owner Air bnb's her house and there is a minimum 7 day stay per county regulations for her. I can't imagine any marina allowing you to air bnb or to do occasional charters, they will all want a cut and you will have to carry commercial insurance which is only available on a annual renewal and the expense would warrant you have to Charter a lot more than your thinking.

Lack of Live aboard marinas and do it your self yards and from what I'm reading is happening all over the US, has me on the rail whether to sell it .

I've totally broken away from my commitment to ever own a boat that I can't trailer and store on my property .I own a semi but my current trawler is too wide at 16' and tall to transport readily . I can easily tow with permits at 12 wide and under 13' 6" tall .

I have a sailboat in a do it self yard that their rates increased recently also and the affordable safe long term storage yard I had in mind for years is booked up since the hurricane.

 

[RT Firefly]

Greetings,
Mr. b. Your friend's plane is being used by licenced pilots and managed by a company that must maintain it to FAA (or whatever) standards.


"Your" boat, on the other hand is used by ??? and managed by a company that might see "your" boat as 250+/- sq.' of rental income property.


You mention you're still in the dreaming stage and you're wise beyond your apparent years to be asking many questions.

 

[berryfarmer]

Availability and Affordability of slips and yards in SW Florida has dramatically changed since the hurricane last year. I currently dock in front of a residential dock but you can't stay onboard at dock more than a few nights .

Lack of Live aboard marinas and do it your self yards and from what I'm reading is happening all over the US, has me on the rail whether to sell it .

I've totally broken away from my commitment to ever own a boat that I can't trailer and store on my property .I own a semi but my current trawler is too wide at 16' and tall to transport readily . I can easily tow with permits at 12 wide and under 13' 6" tall .

I have a sailboat in a do it self yard that their rates increased recently also and the affordable safe long term storage yard I had in mind for years is booked up since the hurricane.

that is exactly a thought I’ve been having personally…. I want a liveaboard. as you well know, I can transport a 10’ wide boat without a bunch of b.s. but, I don’t think I want a 10’ wide as a liveaboard…. I live in middle appalachia, near the TN river, so, not a huge deal to bring it over water to a couple hours from my home, but, I have been toying with the thought of having a “trailerable boat” rather than a “large boat”…. Anything I want would certainly put me in the CDL category which I do not have, but, land transport fees to store on my property would be ridiculous for anything 16 wide….. I’m really appreciating all the feedback here. I may even get my CDL, I could buy a busted old logging truck for waaaaay cheaper than a transport fee, but, still wouldn’t really solve my dilemma. I sincerely hope I can find a rental company that is widespread and reliable to at least break even on should I need to abandon the boat at a moments notice somewhere less than affordable.

 

[Slo-Mocean]

that is exactly a thought I’ve been having personally…. I want a liveaboard. as you well know, I can transport a 10’ wide boat without a bunch of b.s. but, I don’t think I want a 10’ wide as a liveaboard…. I live in middle appalachia, near the TN river, so, not a huge deal to bring it over water to a couple hours from my home, but, I have been toying with the thought of having a “trailerable boat” rather than a “large boat”…. Anything I want would certainly put me in the CDL category which I do not have, but, land transport fees to store on my property would be ridiculous for anything 16 wide….. I’m really appreciating all the feedback here. I may even get my CDL, I could buy a busted old logging truck for waaaaay cheaper than a transport fee, but, still wouldn’t really solve my dilemma. I sincerely hope I can find a rental company that is widespread and reliable to at least break even on should I need to abandon the boat at a moments notice somewhere less than affordable.

I've lived in SW Florida since 84 and have always taken hurricanes seriously since Andrew , I was out of town for Irma 5 years ago but didn't have any homes or boats near the water and it was a near miss so Naples/ Ft Myers got off with minimal damage.

I knew Ian was the perfect storm for us though. Many of my friends lost their live aboard boats and dreams and a year later the marina still has no dockage available. My sailboat I bought was a victim of falling off the stands and holed in the yard in Punta Gorda as was a buddy of mines mint 42 Grand Banks.

My younger brother lives on anchor on his 34 marine Trader in Cape Coral and ran up the river above the Locks and faired well. If your going to summer in Florida you need a plan and escape route. My wife is in insurance and since Ian if you don't stick to your escape plan you will be denied claims.

 

[berryfarmer]

I've lived in SW Florida since 84 and have always taken hurricanes seriously since Andrew , I was out of town for Irma 5 years ago but didn't have any homes or boats near the water and it was a near miss so Naples/ Ft Myers got off with minimal damage.

I knew Ian was the perfect storm for us though. Many of my friends lost their live aboard boats and dreams and a year later the marina still has no dockage available. My sailboat I bought was a victim of falling off the stands and holed in the yard in Punta Gorda as was a buddy of mines mint 42 Grand Banks.

My younger brother lives on anchor on his 34 marine Trader in Cape Coral and ran up the river above the Locks and faired well. If your going to summer in Florida you need a plan and escape route. My wife is in insurance and since Ian if you don't stick to your escape plan you will be denied claims.

thank you for the info that’s valuable! I hope to winter out of the hurricane zone, but at least I’ll be up in the TN river system for the first couple of years, short of a tornado, not much would happen there. Later, if the stars align, we’ll be in central america where there are no hurricanes!

 

[Slo-Mocean]

thank you for the info that’s valuable! I hope to winter out of the hurricane zone, but at least I’ll be up in the TN river system for the first couple of years, short of a tornado, not much would happen there. Later, if the stars align, we’ll be in central america where there are no hurricanes!

Have you looked into slip availability in your area ? Surprisingly when I started recently looking up in the Tennessee area for dockage for my trawler there were waiting lists.

 

[berryfarmer]

Have you looked into slip availability in your area ? Surprisingly when I started recently looking up in the Tennessee area for dockage for my trawler there were waiting lists.

I have not, but…. my biggest issue isn’t renting a space near me, but more of when I’m “out” and having some issue come up that is unexpected and have to leave the boat and go home…. I figure if I get out of the “city” areas I should be able to find something, not even really concerned if it needs to be in dry dock as I plan to buy a cheaper boat and repair it. My next step is to spend a few weekends running around the marinas in the area and chatting up the owners, figuring out what my next step may be. Who knows, I might find the perfect project just sitting in dry dock. I have the skills necessary to repair anything if the price is right.

 

[berryfarmer]

I have not, but…. my biggest issue isn’t renting a space near me, but more of when I’m “out” and having some issue come up that is unexpected and have to leave the boat and go home…. I figure if I get out of the “city” areas I should be able to find something, not even really concerned if it needs to be in dry dock as I plan to buy a cheaper boat and repair it. My next step is to spend a few weekends running around the marinas in the area and chatting up the owners, figuring out what my next step may be. Who knows, I might find the perfect project just sitting in dry dock. I have the skills necessary to repair anything if the price is right.

to be clear I’m looking for a large-ish trawler (able to be handled alone) or a power cat possibly…. I could see myself spending up to 250k on something I would consider nice, but would waaaay rather keep it 5 figures on a project that I could DIY in an affordable dry dock situation over the next couple of years.

 

[mvweebles]

to be clear I’m looking for a large-ish trawler (able to be handled alone) or a power cat possibly…. I could see myself spending up to 250k on something I would consider nice, but would waaaay rather keep it 5 figures on a project that I could DIY in an affordable dry dock situation over the next couple of years.

You should flesh-out the dry-dock thing you're considering. DIY friendly yards have gotten rarer over the years. After reading a few of your posts, my sense is you are at risk of going way over budget. I don't mean to be a wet blanket to your dreams, but there seem to be a lot of dependencies that are not realistic.

That said, dreams are great. They are malleable as new information comes along and are a great starting point. So I'd encourage you - not far off where I started 35 years ago.

Peter

 

[Comodave]

We have done a fair amount of cruising over the years and have never had a mechanical problem so large that we left the boat in a remote area. And I wouldn’t consider renting out my boat in any case. If your budget is going to be that tight then maybe reassess the plan and downsize it somewhat.

 

[mvweebles]

Personally, I would sooner rent out my wife than rent out my boat.

Pictures?