|Ok -so I needed to get rid of my boat at the beginning of this season. So I'm just thinking this might be a option for me. My questions are |
1. Would you let someone you do know or maybe don't, let them borrow your boat for a fee?
2. How much would be a good rate? maybe per hr? Or some other way?
3. Is there anyone in the Seattle area interested in doing something like this??
I'm interested in finding out what you guys think. Thanks
|Had a friend who owns a rental business try to talk me into doing this part time with my boat. I didnt even let him finish his sentence..ha ha. I plan on keeping my boat so there is nooooo way I could do it. |
I have thought about renting it out with me as a captain. That way I drive and keep an eye on things. Basically folks who want to go ski or learn how to ski but dont have a boat. I was looking at about $100/hr with a two or three hour minimum.
If you dont mind the extra wear on the boat all I can say is INSURANCE!!!! Big time. He wanted to rent mine out for 350-500 a day and we would split it. Good money, if I rented it out a few days a month that would make my payment. I just cant get over picturing some drunk dude tied up all day stepping all over everything beating up the sides of the boat and then trailering it successfully at the end of the day.
I will admit I have rented some cars before and I took less than great care of them...you couldnt tell on the outside but believe me.
|A private individual who allows someone to use their boat (or car, truck, etc) is assuming the liability for anything the operator does. Your insurance will be the primary in an accident and any insurance they have will only come into effect when the owners is exhausted. So I would never let someone outside family use my boat without my presence. |
If you were going to start a business to rent boats set it up as a corporation and buy insurance to protect the assets of the business. Do not take on the personal liability for someone you don't know.
Here is a company in Tennessee that rents wakeboard boats.
|Read your insurance policy. It probably has a clause that precludes commercial use of the boat. Meaning if someone pays you to take them out your insurance is void at that point. |
Are you available to ride weekday mornings at Lake Sammamish? We sometimes need a 3rd or 4th...
|Now if you go to Vegas you can rent a new Malibu for about $400 a day less for half day on Lake Mead and several other close by lakes. |
I suspect you could find a local dealer who gives lessons who would give you a pull for a fee.
|Mike- You just tell me when and where and I'm there. I'm doing a job on the Lake right now so that would work out sweet.|
|I had a feeling insurance would be the biggest issue, that and letting someone you don't know take your boat(a little scary). I wonder how it could work... |
Ok -What if it was someone you knew and trusted? Would you let them use it for a under the table usage fee? And what would be reasonable per hr?
|You lend to a friend what you are willing to lose. Either that or you risk losing the friendship. Have a specific contract for you boat. Have your the person you know and trust buy his own insurance with you, as the owner, as a named insured. They can give you a copy of the insurance.|
|George... decent rates to rent those Sangers... but a funny rate on the $12k Jetskis. $339 for a day of a wakeboard boat or $300 for a jetski, tough decision!! |
Packrat: who rents those Malibus in vegas? I go there quite a bit, would be nice to hit up mead one time.
|Todd. I did this for 12 months. It's working out great. ( 4 months in) I have two boats and decided I wasnt' going to use my ski boat this year( 2007 SSV) I live on a lake and end up riding more with friends than on my boat. |
Is their some risk...yes, but IMO it's fairly easy to mitigate.
and yes I plan on keeping my boat after I get it back.
(Message edited by acurtis_ttu on July 07, 2009)
|They rent wakeboats on Norris Lake here in Tennessee. I don't know what they charge, but they are available.|
|No way after what i saw on Shasta sunday! We spent a week up there and saw some crazy stuff but this one takes it! Sunday afternoon i stop about 60' away and a little back from a spit of land just peeking from the water while waiting for a buddy. I look back to see where he is and notice a Nautique Air charging straight at it at over 30 mph with four peeps in it! We try to wave them off but they ignore that, just waving back and keep coming! Both boats watch in horror as they plow into it at speed! It throws the boat up and sideways throwing one peep up in the air slamming him down on the gunwale as it goes back into the water from over 6' in the air! Both boats rush over and the boat is circling, the crew is all of Indian decent and it's a rental! We tell them to beach it but they either don't understand of won't and keep going in an odd path to the marina at like 5 mph! We find a sheriff and tell him. Amazingly they made it to the marina! We saw it a couple hours later on a lift. The tracking fins we totally bent over, the prop, strut and rudder were toast and the boat was gouged seriously underneath! Believe it or not they told the marina they barely hit something and the marina only charged them $85 for a prop after they haggled for a deal!|
|When I was getting ready to sell a previous boat, I looked into renting it out instead of selling and think it is something to consider if you can offload the liability and some service to a third party (rental company) and your boat is not worth over $20K or so. You can potentially collect enough rents in <2 years to pay for it. I would consider doing it again, but only for a boat that I was ready to sell and didn't need the cash right away. You can definitely come out ahead renting instead of selling and since you are selling it anyway you take the emotion out of the picture and it is all business.|
|Todd I sent you a email. We could use another person thursday morning...|