For Rent: Fully Equipped Boat for a 1 or 2 Year Cruise

[BojanglesIV]

If you are ready to go cruising but don't have your 'go south' boat yet, you might want to charter ours for a year or two.

Background - We cruised full time with our young family in 2009/10 and are now back at our land based lives. We don't want to sell the boat because it's perfect for us and we may want to go again in a few years. On the other hand, we're not sailing it as much as we like to right now, so we thought we might let someone else enjoy her for their cruise.

We know how hard and expensive it is to buy the right boat, outfit it for cruising and then shake it down. Therefore, if someone simply has a desire to do a 1 or 2 year cruise with their family and then return ashore, it may make more sense to rent rather than buy.

The Boat - Bojangles IV is a 3 stateroom, Gulfstar 50 Ketch. The boat is a 1980 vintage, but was heavily refitted for offshore passagemaking and liveaboard cruising in 2008/09. It is very comfortable at sea and even more comfortable at anchor (12 opening ports and 4 big hatches; an aft cabin to die for, etc).

Despite her size, she can easily be handled by a couple and her accommodations work well for a family of 5 or 6. We cruised with 5 aboard and had no issues with space.

She has proven her mettle offshore, taking 1st in Fleet in the 2009 Caribbean 1500. Since then, she's cruised the full Leeward and Windward Island chain, sailed north to Bermuda, New England, Maine, back to Bermuda, and back to the Caribbean where she is now (Puerto Rico). We took a heckuva beating in Tropical Storm Sean this past November, but the boat held up well, kept us safe, and after some repairs in Bermuda, she's back in trim.

Without going into a full inventory, it's safe to say that the boat is fitted out with everything you could want for offshore sailing and liveaboard cruising. About the only things is doesn't have are a generator (because the wind/solar/HO alternator easily keep the batteries topped up) and a watermaker (we carry over 200 gals and have never had problems with a lack of water supply, even with 5 on board full time).

If you want to see what she looks like under sail, here's a photo montage of her sailing down the west coast of Grenada.

Bojangles IV

The Deal - We haven't yet worked out what commercial terms would be, but generally, we'd make the boat available to a suitable couple/family for an extended period of time. They would live aboard and cruise freely where they want and would return the boat to us when they are done. Depending on your plans, we could arrange to get the boat to you in the Caribbean or pretty much anywhere on the US east coast.

Interested - If you have a general question, post it here (as others may also have the same questinon), but if you want to start a specific dialogue, send me a private message.

Cheers,
Colin

[lightstreetmike]

Sounds intriguing depending on the terms... Are you looking for a boat sitter plus?

Who pays for what? Bottom paint? Engine maintenance? Engine repairs? Sail maintenance? Sail repairs? The list goes on and on and on!

But still interested in talking/hearing what you are proposing.

Cheers, Mike
Baltimore, MD

[BojanglesIV]

Mike,

Generally speaking, I would look for someone who wants to use the boat as if it was their own but who doesn't see a long term need for owning the boat and doesn't want the expense of buying, outfitting and ultimately selling a boat. That would entail all the benefits and obligations normally associated with boat ownership.

With that as a general principle, there are still issues that will come up, but I'm happy to work through them if I can find the right person. (And if I can't find the right person, I'll keep sailing the boat myself)

To your specific points - anything that is consumable or 'wear and tear' related is not something that I want to hear about from a long term charterer. I just want them to deal with it as if it was their own boat (ie: if the bottom's dirty, you scrub it. If you want to paint the bottom, you haul out and paint it. If the impeller needs replacing, you replace it. If you tear a hole in the headsail, you fix it. If the winches need servicing... etc.).

We will keep insurance on the boat so as well, so potentially large expenses shouldn't be an issue.

I'll deliver the boat in good condition and expect it returned as such. As in a car rental, you can inspect the boat and make note of things you don't want to be on the nut for. At that point, we can mutually agree on any particular exclusions.

Other considerations - This is our 2nd home and is important to us. I'll need good assurance that any charterer has the skills and experience to handle and maintain the boat. Also, I'll need to get comfortable that I'll see the boat back at the end of the charter period. I don't want to posting here 18 months from now asking people to help me find my boat.

Let me know if you've got more questions.

Cheers,
Colin

[lightstreetmike]

Colin-

Hi! Thanks for your quick response. I'll send you a PM so we can discuss the details in greater detail.

Cheers, Mike

[glogan]

Hi Colin,
Bojangles might be a little larger than I need ,but I like the concept.
Please email me at DrGregEaton@gmail
I am very handy and resourceful, a caring guy you would want on your boat.
Best,
Greg

[bubuin2000]

Im in Toronto ,can I call you regarding rent boat ?

[RDW]

Sounds like an excellent way to have all parties happy if you are able to work out all the contingencies ahead of time. I farmer friend of mind rents a farm house with a home made contract in which the last line is "If you feel like you need to call me for some minor repair, just go ahead and move."
I bet you will find someone that will take good care of your boat and you will have to remember that it will have 1-2 years of heavy use. It would be interesting what you think a year on your boat would be worth.
RDW

[hellosailor]

Colin, check with your insurer because a conventional "recreational" policy won't cover commercial charter, lease, etc. of the boat AFAIK.

Your offer could work out very nicely for someone, but effectively you are going into the charter business and that can get complicated. You might want to run some options through with an attorney, maybe one who works for a leasing company already, i.e. leasing it outright, or selling it with a buy-back clause/option, etc. In some US states auto leasing actually got scarce for a few years due to "vicarious liability" laws that held an owner responsible for accident damages--even when the owner was "just" a commercial leasing company.

[Yachtmops]

Originally Posted by BojanglesIV

Mike,

Generally speaking, I would look for someone who wants to use the boat as if it was their own but who doesn't see a long term need for owning the boat and doesn't want the expense of buying, outfitting and ultimately selling a boat. That would entail all the benefits and obligations normally associated with boat ownership.

With that as a general principle, there are still issues that will come up, but I'm happy to work through them if I can find the right person. (And if I can't find the right person, I'll keep sailing the boat myself)

To your specific points - anything that is consumable or 'wear and tear' related is not something that I want to hear about from a long term charterer. I just want them to deal with it as if it was their own boat (ie: if the bottom's dirty, you scrub it. If you want to paint the bottom, you haul out and paint it. If the impeller needs replacing, you replace it. If you tear a hole in the headsail, you fix it. If the winches need servicing... etc.).

We will keep insurance on the boat so as well, so potentially large expenses shouldn't be an issue.

I'll deliver the boat in good condition and expect it returned as such. As in a car rental, you can inspect the boat and make note of things you don't want to be on the nut for. At that point, we can mutually agree on any particular exclusions.

Other considerations - This is our 2nd home and is important to us. I'll need good assurance that any charterer has the skills and experience to handle and maintain the boat. Also, I'll need to get comfortable that I'll see the boat back at the end of the charter period. I don't want to posting here 18 months from now asking people to help me find my boat.

Let me know if you've got more questions.

Cheers,
Colin

Colin,

The insurance is on the boat, not the owner, as I understand it, though correct me if I am wrong, please. Depending on your business arrangement you could be leasing your boat; not chartering. This is coming from a Canadian, I am sure it can be different in other countries, or even insurance companies.

I am interested in the ' particulars' of this arrangement, if you care to share once you have worked it out Collin. My concept is more along the lines of a 'timeshare'. I wouldn't sleep well if someone else sailed away with my boat for a year, but I would like to be able to have other people use it when I am not. Its better for the boat, well, if they are experienced.

I can see the boat sailing the globe, but I prefer a co-op experience ( non-profit) I would like to get off the boat & travel overland or just go home.

In part, I have a barter arrangement in mind. A boat always needs something repaired! I wouldn't mind if we could chat; were almost neighbors 'internet style'. I also go to T.O., a fair bit. If your free to chat sometime, get in touch.
good luck

[SeaFeret]

Colin,

I love the idea.... As in everything else the devil is in the details but by fall 2013 it would fit nicely in my plans.

Let me know once you get a better handle on insurance and such

Enjoy
C

[glogan]

Hello Colin,
I am interested in talking with you about this,
for this coming Fall 2012.
Please email me : DrGregEaton@gmail
or call 781 799 4040 USA
Thanks,
Greg

[BojanglesIV]

I sent you an email.... Give me a call or message at your convenience.

Cheers,
Colin

[BojanglesIV]

Originally Posted by hellosailor

Colin, check with your insurer because a conventional "recreational" policy won't cover commercial charter, lease, etc. of the boat AFAIK.

Your offer could work out very nicely for someone, but effectively you are going into the charter business and that can get complicated. You might want to run some options through with an attorney, maybe one who works for a leasing company already, i.e. leasing it outright, or selling it with a buy-back clause/option, etc. In some US states auto leasing actually got scarce for a few years due to "vicarious liability" laws that held an owner responsible for accident damages--even when the owner was "just" a commercial leasing company.

Thanks for your input on this. There are a few potentially sticky issues that need to be addressed. One is insurance. A bigger one, from my perspective, is credit. How do I make sure I get paid, and more importantly, how do I make sure I get my boat back at the end of the day. This isn't like out your house where you can ask the tenants to leave at the end of the term. If some yahoo goes and sails my boat to Australia (for instance), how can I make sure it comes back?

A sale/repurchase agreement might ultimately be the best option. It would eliminate most of my credit risk and and would also deal with the insurance issues.

Any other ideas/suggestions are welcome.

Cheers,
Colin

[BojanglesIV]

Originally Posted by RDW

Sounds like an excellent way to have all parties happy if you are able to work out all the contingencies ahead of time. I farmer friend of mind rents a farm house with a home made contract in which the last line is "If you feel like you need to call me for some minor repair, just go ahead and move."
I bet you will find someone that will take good care of your boat and you will have to remember that it will have 1-2 years of heavy use. It would be interesting what you think a year on your boat would be worth.
RDW

That's good.

In terms of pricing - I'm thinking $2500 a month or so. As a boat owner yourself, and knowing the wear and tear as well as the costs of boat ownership, what's you reaction to that?

Cheers,
Colin