Boat share - good or bad?

[jimmynoboat]

Last week I asked 'what should I buy' and the ensuing thread was very helpful. Whilst I'm considering all suggestions I am drawn to the Macwesters as they seem to fit my comfort / performance preferences (we heard all about the windward reluctance of the 26 & 27 Macwesters). However, the cheaper ones probably require more TLC than I am prepared to give. Remember I said I want to sail the thing, not rebuild it.
Anyway, I've started have to have thoughts about setting up a boat-share to spread the cost.

Is anyone here in a boatshare scheme? or have you ever been? I'd appreciate advice on the pros and cons.
I'm thinking that my brother and a 'brother in law' may be interested (both sailors) but, I haven't suggested it to them yet! I would not do this with strangers.

 

[FullCircle]

Dont share it with a recent ex wife!

 

[MrG_2]

I bought a new Jeanneau Sun Odessey 40 with an old friend I'd been sailing with for years.
We have a fairly clear understanding of responsibilties, I do most of the physical work, he does the accounts. As its a charter boat there can be a fair bit in the repair and upkeep department.
We have run the boat on a fairly loose arrangement regarding if and when we sell.

Recently we started looking at whether we could get a third member into the set up, but unless it was one of our longterm sailing friends that wanted to invest we probably won't bother.

 

[Mudhook]

Don't worry about the boat - it's almost immaterial compared to the people you are sharing with. You will hear horror stories, also some very positive reports. I share my boat with one other and we have never looked back since we started. For my money, too many people in the group is bad news for availability and co-operation. A friend with a share in a group-owned aeroplane has nothing but trouble every time there is work to be done. But a good boat-share group will make you friends for life. There used to be a useful little treatise on the subject tacked on to the bottom of the RYA's web-accessible boat-share agreement, if you can find it.

I think the document is "An agreement for syndicate ownership" under the "Buying privately" section.

Regards, Mudhook

 

[Talbot]

If you are going to boat share, it doesnt matter how close the relationnship/friendship is, do it as a proper written agreement showing who is respnsible for what and how work/costs are shared, and how the use of the boat is shared , and how swap of days can be arranged., then make sure you stick to that agreement

 

[Ranger]

I would say that it is better to share with non-friends unless you are sure that things will work, otherwise you will be tempted to put up with irritations for the sake of your friendship.

I am in a group of 4 and it works well. None of us knew each other previously. Have got a formal agreement but haven't needed to refer to it yet!

Individuals sometimes sail together, but basically have one weekend a month.

I think it is important that all parties have similar aspirations for the boat in terms of the equipment/expenditure/use.

There are pros and cons (as always) but it is a big help to have 4 when work needs to be done or bills paid! /forums/images/graemlins/smile.gif

 

[jimmynoboat]

Thanks for the info, How do you get started in a boatshare with strangers? I mean, how do you find the others?

 

[Ranger]

I found an established group through Yachtfractions, who normally have quite a few boats on their website. They also handle the agreement for the sale, but we have our own more detailed one as well.

Obviously, have a sail and meet the others in the group to see if you get on.

I sail as much as when I had my own boat, but spend a lot less time working on her. Main drawback is that you can't leave personal items on board, like sleeping bags, oilies etc.

Good luck!

 

[Stemar]

The French have an expression that translates as:

"Good accounts make for good friends"

In my experience this is true in all areas. In a boat share, it must be doubly true!

 

[jimmynoboat]

Thanks everyone. Another good lot of information. I am quite encouraged to go the boat-share route now. Thanks also for the PMs - very helpful. Now the hardest part of all .... breaking the news to 'the present Mrs Jimmynoboat!'

 

[Achillesheel]

I may be coming to this thread a little late, but heres my two penn'orth.

I bought our Achilles 24 jointly with my brother about three years ago, for £3500. It is a really good arrangement as we share costs equally, and maintenance and have never clashed over use of the boat. He is relatively new to sailing, but lives half an hour from it, so tends to day sail. SWMBO and I live three hours away, so either stay with him and we day sail with him or without, or we spend a weekend on the boat.

We set up a bank account for the boat and each pay monthly in to it so there is always a fund for mooring, winter storage, insurance etc and we therefore have no problems sharing outlay.

If anything it has brought us closer together, an added bonus. We have no written agreement.

I would recommend involving your brother rather than a stranger if I were you.

Incidentally, the Achilles is a great first boat, although cramped accomodation. Much as I like my brother, I would not wish to stay overnight on the boat with him!!

 

[syfuga]

Had a really successful share over 17 years. But you need to be in agreement up front particularly about where to keep the boat, attitudes to usage (racing/cruising, sail together or separately) and about maintenance and working on the boat. Replacements and new toys. We had a separate bank account, with a standing order going into it, and a savings account. We set aside an engine replacement fund. We did everything possible ourselves. In most things that we had done by yards we were shafted to some degree, even on an insurance job that was simply skimped. Have a written agreement. The hardest part is leaving the partnership, selling up or whatever. You never get what you think a boat is worth when selling, and you certainly don't when selling out a share to friend/s! Oh, and boats cost far more to run than you imagine.