I am often asked by yacht owners who are considering placing their boats into charter with us, “Won’t that put additional wear and tear on my boat?”
It is true, that if your yacht is part of a charter fleet, it will obviously get used more often. However, that additional usage is not necessarily bad for the vessel. In fact, besides earning income, chartering your yacht can be good for you and your boat, in a number of ways.
First let’s tackle that question of additional use. It may sound strange, but yachts that are not used that often, actually tend to have more problems and maintenance issues, than those that are used more frequently. There are a lot of moving parts on a yacht, and engines and hydraulic systems in particular need to be used often to keep them running smoothly. Think of it this way; regular use of your yacht does for her, what regular exercise does for you and your heart.
Putting a yacht into a charter program, not only gets her out and running, it also enforces that she will be subject to constant inspections, and a stricter and more regular maintenance schedule.
A motor yacht that is part of a charter fleet will probably be washed weekly, detailed monthly, and thoroughly cleaned from stem to stern after each and every charter. Routine maintenance is performed on a scheduled basis, and any damage or defect, immediately repaired to ensure the boat’s availability for her next charter, and the safety of charter patrons.
This also means, that when she is not out on a charter, and you want to take her out for your personal use, you will find her shipshape and ready to go. You will never have to worry about routine maintenance or repairs.
Of course, as your charter company, FYM will completely vet any crew and ensure that they are completely qualified to operate, and work aboard your yacht.
A charter will never be booked without taking a damage deposit, and any damage caused by a charter customer, (up to the amount of applicable insurance deductible) will be paid for by that deposit.
Other Advantages of a Yacht in Charter
In addition to the financial rewards, and the benefits of regular usage, there are other pros to putting your yacht into charter.
- A Charter Yacht Gets Noticed – A yacht that is part of our charter fleet, has a high profile; she gets known among boaters and captains. This is a major advantage when it comes time to sell your boat. Also, often prospective buyers, might book your boat for a “try it, before you buy it,” charter.
- Charters Workout Your Crew – Chartering your yacht keeps your crew on its toes, and gives them a great opportunity to not only hone their skills, but to get to know the ins and outs of your boat that much better.
- It Makes You Feel Good – For many yacht owners there is emotional satisfaction that comes with chartering their yacht for others. Owners put a lot of time and effort into choosing their yachts. They often work with designers and marine engineers, to customize the interior, and create spaces, and accessories that make her unique and special. Many owners I know get a kind of rush, or ego boost, when they can share their “baby” with other people who can enjoy and appreciate her.
Is Chartering Right For You?
Beyond off-setting expenses, there really are quite a few advantages of putting your yacht into a charter fleet. However, ultimately, whether it is right for you and your vessel or not, is still a very individual decision. If you are seriously considering chartering your yacht, contact us, we would be happy to discuss all of the pros and cons with you.
Operating a motor yacht can be costly. Putting your boat in Charter can earn income, and defray some of the costs of ownership. On Demand Yachting from FYM can show you how. If you would like to learn more, or if you have any questions or comments about this blog post, do not hesitate to contact our Yacht Management specialists, or call us at (855) 318-6328.