Boat share

[pcatterall]

The old lady is sadly underused at the moment mainly due to lack of enthusiam from spouse and children who are finding other amusements!!
At the point of putting her up for sale but wonder if it is worth offering a sort of boat share arrangement.
I was thinking of offering use of the boat( times by mutual agreement) in return for a share in mooring fees and work as required (allways plenty of that!)
Also willing to share trips etc.
Does this kind of arrangement work and are there some good places to advertise especially as this is not exactly crew wanted or boat shares for sale.
Boat currently up the mersey due for launch in May then perhaps off to Conwy. She is a Colvic Atlanta Motor sailor.
Regards to all

 

[Skyva_2]

Hi,

It can work but totally depends on who you share with! We shared for 10 years, initially with a friend, then by advertising, and it worked well. We used the RYA share agreement as a basis for the contract - it is worth reading, if you want a word version PM me. But if you need the agreement it's too late! Be very clear on what happens if one of you wants to leave, that is when life gets difficult.

We advertised in Yachting Monthly, but had very few replies - even in the Solent. There are commercial sites such as Yacht Fractions, I have no experience of them.

 

[pcatterall]

Thanks Sky sail. I suppose that I would need a formal agreement although I am not really looking for financial commitment. It is really just a case of getting the boat used.
Thanks again.

 

[Topcat47]

Michael Green says only ever share a boat with your worst enemy, that way the things that go wrong can serve to feed your hatred rather than ruin a freindship.

 

[Talbot]

If you decide to go this route, make sure that the agreement is in writing with everything spelt out, including how to share work/money/time, how to swap times, and how to end the relationship, and money. Doing it on a shake hands and it will be all right, is a recipe for disaster.

 

[ostra4]

It seems to me a better arangement would be to sell a half share rather than on the basis you are thinking about .Your way I think has potentially more problems than selling half .At least with a proper partner they have a true stake in her and this will concentrate their minds on how careful they are when using her .A 50/50 split or similar share leaves less room for discussion about who pays for what .If you are going to effectivley lend your pride and joy for the price of mooring fee and some work then why not sell her outright and purchase a proper share in a syndicate ??Just a thought .I shared in syndicates for many years with very few problems but as skysail says it depends on who you share with .Personally we kept our share on strictly buisiness footing and did not share trips/holidays but thats just us .Good luck with whatever you decide .

 

[johnphilip]

Go for it. We shared for 12 years and it worked well. Admittedly we already knew our partners as friends for many years but it was mostly gain. No guilt when we could not use the boat as she was in use. Half price marina fees, we always left the boat as we wanted to find her and so did they, only half a boat to antifoul, twice the funds for any upgrades or replacements. A better boat than we would have otherwise afforded when the kids were still at home and could enjoy it with us. No regrets

 

[ostra4]

As i understand it Pcaterall isnt thinking of a true partner i.e where all concerned have a finacial stake in the boat .I agree totally with your view on sharing but I think its an issue that the person lucky enough to "share" Pcatteralls boat is getting all the benefits with much reduced responsibility for no initial outlay.Pcatterall already has the boat he wants so a better boat isnt the carrott .Selling his and buying into a share does give that big advantage .He could end up with a better boat with all partners having a share by investing in her and hopefully the possiblity of sharing trips if thats what he wants .

 

[KINGFISHER 8]

DON'T DO IT !!!!!!!!!