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Renting Experience

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frejoh
Navigator

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USA
116 Posts

Initially Posted - 07/18/2007 : 16:13:49

I am giving serious thought to renting the Pau Hana to a sailing club. The basic arrangement is the club pays a monthly fee to the owner, then is able to rent the boat to its members. The club also berths and maintains the boat, while I believe the owner is still responsible for insurance and taxes. The owner can reserve the boat for sailing any day, free of charge. Renters have to be club members and have ASA certification.
Frankly, I get frustrated when time or weather result in using our boat only every six weeks or so, sometimes much less, especially in winter. Everyone knows the costs add up, so the "per sailing day" cost can get quite high. Financially, renting would ease the burden, and actually produce some "positive cash flow."
My question is whether any forum members have had experience with this sort of arrangement, and the pros and cons. Do you continue to do it? Or did something convince you to quit after trying it? Thanks for any observations.

Fred
Pau Hana
2002 WK #669

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Nautiduck
Master Marine Consultant

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USA
3704 Posts

Response Posted - 07/18/2007 : 18:14:40

Fred, I understand your frustration. Sailing only once every six weeks or so is probably not enough to warrant the investment. Still, I think it is not always appropriate to compute a "per sail" cost. I'm sure my per sail cost is high too, but the overall enjoyment extends well beyond our actual time on the water.

Personally, if I were going to be rid of the boat, I would sell it outright and then rent when I wanted. Otherwise I'd be constantly looking to see what abuse had happened to "my boat." I also think that if there were really a positive cash flow, the club would buy their own boats and reap the profits themselves. My two cents.

Edited by - on

Tom Potter
Master Marine Consultant

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USA
1913 Posts

Response Posted - 07/18/2007 : 18:35:06

Hey Fred,
I found a letter in a zip lock bag stuffed in my coaming pocket last year from a sailing club some where on Lake Lanier (I forgot which one). They were wanting to rent mine too, sounded like a similar deal as you described.

I'm only a few miles from the lake so I'm on board every weekend and some week days. If the weathers to bad to sail I always find something to fiddle around with on the boat.

There's a sailing school boat on the next dock behind me. After watching them come in and go out for a few years there's no way I could rent mine out.

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Jarrett Anderson
1st Mate

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61 Posts

Response Posted - 07/18/2007 : 19:24:23

It has been two weeks since I have seen my boat. That is a long time. I still look at the picture of the boat on my work computer screen saver, and think about playing hooky. I am far to protective of my boat to ever rent it out. It would make me nuts to have put my name on a list to go sail it.

I really think you need to get out the old WM catalog and buy something or plan a project for your boat just to give you a shot in the arm.

Jarrett _/)

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Mike Chrisman
Deckhand

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USA
8 Posts

Response Posted - 07/18/2007 : 20:13:16

Fred,

Living here in SW Ohio, I feel your pain. Sometimes it seems like I get maybe a half dozen good sailing days on the boat. The fees come year-round.

I personally would not let someone operate my boat. It's my personal preference.

I would urge you to read your insurance policy carefully. I'm not an agent and I do not know all of the details, so I'm not in a position to advise you about the specifics of your situation. However, I hope to give you a few insurance things to think about:

If your policy is a personal watercraft policy, it might consider renting to be a commercial use and exclude coverage as a result. I just pulled an old copy of my policy because I was curious. It specifically excludes coverage while my boat is rented. In my case, any damage to the boat would come out of my own pocket if I rented my boat. Other policies might have similar exclusions, while others may not.

Liability is another consideration. Accidents happen and in a major loss everybody seems to get sued. You could find yourself sued along with (or even conceivably in suit against) the sailing club, the renter or even non-renting passengers. Will your policy defend you and pay any damages if the boat is rented?

A call to your insurance agent should be part of your research.

Just my two cents.

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Dave Bristle
Master Marine Consultant

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Djibouti
10005 Posts

Response Posted - 07/18/2007 : 20:41:22

<blockquote id="quote">quote:<hr height="1" noshade id="quote">Originally posted by Mike Chrisman
 ...A call to your insurance agent should be part of your research.<hr height="1" noshade id="quote"></blockquote id="quote">
...and another one to your psychotherapist, to see if you can handle the anxiety.

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Notice: The advice given on this site is based upon individual or quoted experience, yours may differ.
The Officers, Staff and members of this site only provide information based upon the concept that anyone utilizing this information does so at their own risk and holds harmless all contributors to this site.