Getting a boat share is somewhere in between buying one outright or using a one time charter. The charter is acceptable for those who might only need the vessel once, like for a vacation. On the other hand, buying it might be considered overkill for someone who has no plans to love on the boat, or use it every single day.
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.
Way it works is that there are boat share or fractional yacht ownership companies that manage the whole thing. People can buy actual shares that provide fractional ownership in the vessel. It could also be a timeshare arrangement where members simply pay annual membership fees and usage charges which are much lower than the cost of a charter.
A little bit of comparison shopping should help in scoring the best deal, since there are many variables to be considered. For example, one of the most important things is the amount of time each co-owner gets on the vessel and how and when to book these trips out on the water. Sometimes, the company may have a waiting period in between trips.
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.
Then there are also questions about the crew (if any) and other such factors that depend on the size and type of the vessel. The summary of it is that a boatload of money can be saved by opting for a boat share. It allows people to roam the seas at will without having to pay through the nose, but it still has to be looked into carefully to make sure the arrangement is legit.
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.
Way it works is that there are boat share or fractional yacht ownership companies that manage the whole thing. People can buy actual shares that provide fractional ownership in the vessel. It could also be a timeshare arrangement where members simply pay annual membership fees and usage charges which are much lower than the cost of a charter.
A little bit of comparison shopping should help in scoring the best deal, since there are many variables to be considered. For example, one of the most important things is the amount of time each co-owner gets on the vessel and how and when to book these trips out on the water. Sometimes, the company may have a waiting period in between trips.
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.
Then there are also questions about the crew (if any) and other such factors that depend on the size and type of the vessel. The summary of it is that a boatload of money can be saved by opting for a boat share. It allows people to roam the seas at will without having to pay through the nose, but it still has to be looked into carefully to make sure the arrangement is legit.
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