Rent or Lease a performance boat
 

Has anyone ever done this? I would think the guys upside down in their boats and nothing selling would want a way to generate income. Now I know there are going to be lots of folks say NFW, you crazy? "My boat is my baby" and so on. I understand. But, take the airplane industry as an example. Very few people can afford to own and operate a turboprop or even a high performance/complex (retractable gear) airplane......but if you search controller, you can lease them all day. The difference is there are strict guidelines, insurance requirements, rigorous check outs, and oh by the way this little thing called a pilots license.

I would to entertain leasing/renting a boat at LOTO for a season with the following conditions:

1. Tres Martin school
2. Large damage deposit ($20,000 or more)
3. Flat rate + hourly rate (example $5000/month + $500/hour tach time). This should more than cover engine/drive reserves + keep up with depreciation.
4. Pay all maintenance at shop of owners choice.
5. Pay all insurance costs
6. Pay all taxes.

You say "why don't you just buy your own boat?" Well, I'm going to. I would just like to try it out first. Just like the airplane I owned, the least expensive part about owning the boat/airplane is the vessel purchase. I am going to need a new dock and lift. It is also very likely that I will be bored with whatever I buy in a year or two and I can avoid having to sell or trade it again by just renting or leasing.

If anyone is interested PM me.

Thanks

Brett

Call Jim Darr:party-smiley-004:

NFW, you crazy? "My boat is my baby":lolhit:

@ $ 5 k a month that's $ 120 k in 2 year's plus the $ 500 an hour , that's a decent amount of money getting thrown away .
you can buy what you like and probably not loose that much when you sell it in 2 year's
just my thought .
if you went out and bought a brand new 36 to 38 foot boat for around $ 200 k in 2 year's you can probably still sill it at close to $ 125 to $ 150 k vs loosing $ 120 k + the $ 500 an hour

mike

But as an airplane you rent it when you wenat it not all year..
$5000 a month is a little steep for a boat but 3000 and you may have something.

Not if you rent it seasonally (which is the only way I would do it)

$5,000 x May-October = $25,000 + ($500/hour x 40 hours = $20,000) = $45,000.

I figure the $500/hour covers the owners engine and drive reserves plus depreciation.

We would also be talking about a fairly high end boat here for that money..... Probably $150,000+ in value.

It won't work. They will run the sh!t out of it and if something breaks how can you make them pay for it? You can't prove it was their fault. What if there is a damaged gear in a drive that lets go. Or a cracked piston, etc. It just wouldn't work and no one could/would meet your list of conditions. You can rent pontoons and smaller boats all day but not an expensive speedboat. And when you rent pontoons, all maintenance and repairs are on you.

I would say it would work if you took parties of 3 or 4 people out on a per day basis similiar to what Fishing Charter boats do.

As Third said
What if just one motor was over reved and blew up in the first month. 30-40k motor (if its a high end boat) you paid one month 5k and gone. Renter is out 30k. If there was a 6 month contract he would not even break even.
I would think airplane motors would be much more reliable and that would make a huge difference.

There was a guy on lake Travis that was renting a 29 fountain out for $100/hr, but I don't think it worked out all that well. I saw the boat on craigslist not that long ago. I couldn't do it, I'm to anal. Plus @45k a year you'd be better off buying your own.