Robin G. Coles of TheNauticalLifestyle.com interviews Brian Stefka about Renting Your Boat. Inside you'll find the following tips:
- Three reasons to rent your boat are to make a profit, supplement your ownership costs, and/or to assist in sale of your vessel.
- Three primary rental types are bareboat, charter, and dockside.
- Three forms of risk you might encounter when renting out your boat are passive, non-passive, and systemic.
- Understanding the risks to you and your vessel is the first line of defense.
- Three primary revenue sources/costs charged to a renter are gas usage, captain and crew fees, and basic rental fee for use of the boat.
- Rental agreements include an acknowledgement agreement that the renter understands how to use the equipment on board, a standard rental agreement for a charter or bareboat rental—the basic terms of the rental, and a waiver and release from the renter stating the owner is not responsible for the renter’s actions.
- Protect yourself, in the event that your boat comes back damaged, by collecting a security and reservation deposit.
- Always take pictures of your vessel upon its return for proof of any evidence of damage.
- Four factors in determining your rental income are rental rate, fees per rental, estimated number of rentals per year, and estimated expenses.
- Use common sense when renting out your boat. If someone doesn’t seem like a good fit, they probably aren’t.
- Three reasons to rent your boat are to make a profit, supplement your ownership costs, and/or to assist in sale of your vessel.
- Three primary rental types are bareboat, charter, and dockside.
- Three forms of risk you might encounter when renting out your boat are passive, non-passive, and systemic.
- Understanding the risks to you and your vessel is the first line of defense.
- Three primary revenue sources/costs charged to a renter are gas usage, captain and crew fees, and basic rental fee for use of the boat.
- Rental agreements include an acknowledgement agreement that the renter understands how to use the equipment on board, a standard rental agreement for a charter or bareboat rental—the basic terms of the rental, and a waiver and release from the renter stating the owner is not responsible for the renter’s actions.
- Protect yourself, in the event that your boat comes back damaged, by collecting a security and reservation deposit.
- Always take pictures of your vessel upon its return for proof of any evidence of damage.
- Four factors in determining your rental income are rental rate, fees per rental, estimated number of rentals per year, and estimated expenses.
- Use common sense when renting out your boat. If someone doesn’t seem like a good fit, they probably aren’t.
