The boat share concept falls somewhere in the middle between a one-time charter and going all in to buy a boat outright. For anyone who won't be living in it or using it every day, buying a vessel might be overkill. On the other hand, charters are limited to annual trips like a vacation.
Ownership sharing solves plenty of problems associated with both purchase and charter, with flexible usage dates and time on the water, but not the hassles and costs of individual ownership. Apart from the purchase cost, other issues that are taken care of include marina fees and insurance, among others. The biggest benefit is that there's no need to fret over the cost and hard work of the vessel's maintenance.
The fractional yacht ownership or boat share company will take care of all these and other issues. All that needs to be done is buy shares and become a part owner of the vessel. Alternatively, it might be a timeshare-type arrangement with yearly membership fees plus charges billed per trip based on usage, which will be very low as compared to the costs of chartering the same type of vessel.
In order to get the best possible deal with favorable usage terms and costs, it might be advisable to look around and check out a few of these companies. Check up on things like how much time on the vessel per year the company allows each co-owner, and how they schedule it. Many companies have limits on how soon after one trip a co-owner can book the next one.
Also, there will be a need to book in advance, in order to avoid date clashes with the vessel's other co-owners. This has a big chance of happening during holidays and other peak periods like summer vacations, if there is no scheduling system. Also look into the details of the maintenance charges for the vessel, and how the company actually maintains it.
Depending on how big it is and what type of vessel it is, there may also be considerations about crew members and other add-on costs. The sum of it is that there's big savings to be had with a boat share. Co-owners can set sail at will and enjoy the freedom of owning a boat without having to pay for it. But it needs to be done after careful consideration of the terms being offered.
Ownership sharing solves plenty of problems associated with both purchase and charter, with flexible usage dates and time on the water, but not the hassles and costs of individual ownership. Apart from the purchase cost, other issues that are taken care of include marina fees and insurance, among others. The biggest benefit is that there's no need to fret over the cost and hard work of the vessel's maintenance.
The fractional yacht ownership or boat share company will take care of all these and other issues. All that needs to be done is buy shares and become a part owner of the vessel. Alternatively, it might be a timeshare-type arrangement with yearly membership fees plus charges billed per trip based on usage, which will be very low as compared to the costs of chartering the same type of vessel.
In order to get the best possible deal with favorable usage terms and costs, it might be advisable to look around and check out a few of these companies. Check up on things like how much time on the vessel per year the company allows each co-owner, and how they schedule it. Many companies have limits on how soon after one trip a co-owner can book the next one.
Also, there will be a need to book in advance, in order to avoid date clashes with the vessel's other co-owners. This has a big chance of happening during holidays and other peak periods like summer vacations, if there is no scheduling system. Also look into the details of the maintenance charges for the vessel, and how the company actually maintains it.
Depending on how big it is and what type of vessel it is, there may also be considerations about crew members and other add-on costs. The sum of it is that there's big savings to be had with a boat share. Co-owners can set sail at will and enjoy the freedom of owning a boat without having to pay for it. But it needs to be done after careful consideration of the terms being offered.
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