Anyone on here ever rent their boat out?

[B0at1n]

My family and I rented an AR230 a few years back through Boatsetter, my son actually found an add for it. The owner captained the boat and we spent the day on Raystown Lake skiing, tubing, jumping off rocks, and enjoying the water. It was the most fun we've had as a family in a long time and it turned out everyone liked it which is a rare occurrence for my kids. The owner was really nice and literally did all the work - blowing up tubes, hooking up ropes, stowing gear when done, etc. The next day I started looking for used Yamaha jet boats (couldn't afford a brand new one with two in college and third about to start). Eventually I found this forum and within 8 months had bought our boat. This has been one of the best things we have done as a family since it has created the opportunity to spend time together doing something we all enjoy. I was an avid boater - both sail and power - before I was married but had sold everything by the time we started having kids. So I got to rekindle my love of boating and have my family share it with me, and it all started with renting a boat through Boatsetter.

renting the boat out is a lot more work, I’ve accepted my boat is always dirty because I am not going to take the time to wash it down EVeRY time it rents by my self. I have done 150+ bare boat rentals and just started captaining. Captaining can be fun but can also suck. You do all the work regardless. I have had minimal damage but there are little nicks and dings you have to take care of. Honestly right now the market is stupid, selling your boat for the crazy mark up may be more profitable than the rental thing. Just depends on your goals and plans.
My boat may be for sale beginning of August.

 

[Ronnie]

So how does this work for you. The renter shows up and drives off with the trailer and boat in tow? What about the return process? i assume I / someone would need to do a walk through inspection with the renter at pick up and return.

150 rentals and only minor damage does not sound bad. Did you vette each renter yourself? I have a bad/weird feeling that half of the renters have never piloted a boat and half of those that have suck at it. Add in the different handling characteristics of a jet boat, selling sounds better all the time.

 

[Betik]

Boats are reffed to as “she” for a reason, and any “she” I am associated with is not for rent.

 

[Ronnie]

employers pay employees for the use of their employees’ time, time is something, per the definition above employers rent their employees. If this is correct most of shes I know are for rent.


I was just reading the requirements to get a 6 pack license. It reads like a real PITA. I don’t think I meet the time on the water requirements of 360 days, 90 of which are within the last three years as an occasional (every other) weekend boater four to five months a year.

I don’t want to get out of boating to get into renting my boat out, i want to get out of trailer boating to do less trailer boating work. That said, I’m leaning away from renting my boat out as the captain of it and more towards make in it available as a bare rental or selling it outright. If I keep it I will at a minimum put it in a boatel on the Sacramento Delta or on lake Berryessa, Comanche , New Lake Hogan (if I can find a boatel near these lakes) next season which will minimize towing it but also limit where I boat.

 

[B0at1n]

So how does this work for you. The renter shows up and drives off with the trailer and boat in tow? What about the return process? i assume I / someone would need to do a walk through inspection with the renter at pick up and return.

150 rentals and only minor damage does not sound bad. Did you vette each renter yourself? I have a bad/weird feeling that half of the renters have never piloted a boat and half of those that have suck at it. Add in the different handling characteristics of a jet boat, selling sounds better all the time.

For my bare boat rentals, I launch the boat and the renter takes and returns from the courtesy dock. They never touch the trailer and they should never dock with out me. I leave a 20ft dock line tied to the clear on the bow and when they come back I am standing on the dock. Tell them to get 5-10 foot and through me the rope and I will pull them in and tell them what to do…my only damages are from 1 renter tied up to another boat and didn’t use the big fenders I gave him (I tell people I don’t recommend this because if damage but, if you’re going to I’d rather you know how) second damage was a renter coming back early before I got there and tried to put it in a slip, nailed the bow on the end of the slip. And the third spot was from a wakeboard I’m assuming hitting the deck on the swim platform. Other then that it’s really just a couple nicks on the front from the anchor chain going up and down.

I spend at least 1.5 hours per rental for launch retrieve and commute to the ramp


I do not allow tow and go, if you do not have previous boating experience owning or operating many boats in your last, I don’t rent to you.

since I am in Career transition and have the extra time, and it was a slow start to the season I started offeringa “captain” I do not have a license and I don’t the the game wardens care. USCG would care. I have done 3 rentals, my first one I didn’t think I’d do another, they showed up with an extra person, they didn’t want to make their young one wear a life jacket and they weren’t great swimmers and floated far enough away from the boat I had to pick up the anchor and go get half the group. Second group was actually great. They weren’t boating people but were nice and respectful and all went well. My 3rd was a couple and two 4 year olds. We went and anchored and swam and then the dad hopped on tube for 2-3 runs then we cruised back. Was only a 2 hour booking.I think next weekend I have what I assume will be a “Boos cruise” which I’m not really looking forward to because I don’t really like drunk people wife and I are 5 years sober…we will see how it goes!

 

[adrianp89]

I only captain my boat. I get a lot of drunks but everyone is pretty respectful. Staying within the 6-pack guidelines, 6 people is enough to keep things not too crazy. I would never bareboat my personal boat, though I have a friend that does with his Yamaha. He makes a TON of money, and is typically booked out several months.

 

[Ronnie]

Thanks for the really skinny on how renting out a boat goes. I like the way both of you handle rentals but I don’t think it will work for me. The closest boatel I would use is 75 miles away, so at least an hour out. If I have to drive back at the end of the rental period is be looking at at least 4 hours on the road. I maybe able to pay one of the dock hands to help renters dock the boat when they return and inspect the same but that is a big “maybe” and the first boatel I’m thinking of closes around 6 (my friend had his boat there and if they were closed we just left the boat on the dock for it to be put back in the rack the next morning).

fyi - before I read the last two responses above I was thinking of renting a scarab jet boat locally just to see how it works. Silly in retrospect for me to rent a boat for $400 to $800 when I already have one and two waverunners as well.

 

[W3bexec]

I think next weekend I have what I assume will be a “Boos cruise” which I’m not really looking forward to because I don’t really like drunk people wife and I are 5 years sober…we will see how it goes!

Hi @B0at1n how did that one work out? Also, are you still renting?

 

[Matt Phillips]

Be very careful captioning a rented boat as the USCG has some very specific thoughts and requirements on this subject. Once you exchange money for the boat, it could be contorted into being "for hire."

Research before you do as if there's an accident and you're at the helm...

 

[Julian]

I only captain my boat. I get a lot of drunks but everyone is pretty respectful. Staying within the 6-pack guidelines, 6 people is enough to keep things not too crazy. I would never bareboat my personal boat, though I have a friend that does with his Yamaha. He makes a TON of money, and is typically booked out several months.

I've been pondering doing this for fun as a retirement thing (I can't just sit around...and I love people and boating). Would love to hear more about:

1. Getting the 6 pack license....seems like a lot of stuff to get done, but certainly doable.
2. How do you market yourself? Facebook? Word of mouth? This would seem like the hardest part.
3. I can deal with jerks....and I guess if the worst comes to the worst, I just give them their money back and say...get off my boat. Have you had any problems?
4. The worst case scenario for me would be someone getting hurt. Do you drive with tubes more conservatively with "rentals"? Do you allow skiing/wake boarding? Do you have them sign a waiver?
5. Did you get extra insurance from your insurance company? How much more did it cost?

 

[tdonoughue]

@Julian, these are all good questions. I haven't done them. I certainly have opinions on 2-5.

However, my best advice would be that you would probably be best served by hiring a lawyer for a few hours to give you a solid answer on 2-5. Essentially you are talking about starting a business. Doing it right with the right forms, advice and plans will make all the world of difference between success and saying, "I wish I had known..."

 

[BigT51]

I've been pondering doing this for fun as a retirement thing (I can't just sit around...and I love people and boating). Would love to hear more about:

1. Getting the 6 pack license....seems like a lot of stuff to get done, but certainly doable.
2. How do you market yourself? Facebook? Word of mouth? This would seem like the hardest part.
3. I can deal with jerks....and I guess if the worst comes to the worst, I just give them their money back and say...get off my boat. Have you had any problems?
4. The worst case scenario for me would be someone getting hurt. Do you drive with tubes more conservatively with "rentals"? Do you allow skiing/wake boarding? Do you have them sign a waiver?
5. Did you get extra insurance from your insurance company? How much more did it cost?

You might look into Boatsetter to begin with since I believe they handle most the issues your asking about. I rented a captained boat through them and they managed the transactions. Might be worth investigating if it's something you're really interested in pursuing.

 

[Julian]

You might look into Boatsetter to begin with since I believe they handle most the issues your asking about. I rented a captained boat through them and they managed the transactions. Might be worth investigating if it's something you're really interested in pursuing.

Yup....looked at them, and talked to some members here that have used them (from a renting/captaining side). Its an option, but definitely cuts into margins.

 

[spatty99]

The tax implications of renting a boat are more involved than typical business assets, it is treated differently as “listed property”...

Can My Business Write Off a Boat? Here’s How: - Taxhub

A detailed guide on how a business or self-employed person can legally write off a boat and the risks of doing so

www.gettaxhub.com

 

[B0at1n]

Hi @B0at1n how did that one work out? Also, are you still renting?

i only did 3 captained cruises, they all went okay, but I really wasn’t into it and the money earned vs bare boat didn’t really justify my extra time commitment and energy.

 

[FSH 210 Sport]

In this litigious society you‘re totally playing with fire and your entire estate as it were by renting out your boat, unless you set up a LLC, and have several million in liability insurance to illustrate intent.

Remember that recent story about that 20 something girl who allegedly died of CO poisoning And the accompanying “news” story wherein they were throwing Yamaha under the bus? That‘ll be you along with Yamaha if someone dies on your boat. Even if you are exonerated in the end it will be years and tens of thousands of not hundreds of thousands of dollars in legal fees out of your estate. And for what? A few grand in your pocket?

 

[B0at1n]

In this litigious society you‘re totally playing with fire and your entire estate as it were by renting out your boat, unless you set up a LLC, and have several million in liability insurance to illustrate intent.

Remember that recent story about that 20 something girl who allegedly died of CO poisoning And the accompanying “news” story wherein they were throwing Yamaha under the bus? That‘ll be you along with Yamaha if someone dies on your boat. Even if you are exonerated in the end it will be years and tens of thousands of not hundreds of thousands of dollars in legal fees out of your estate. And for what? A few grand in your pocket?

You are correct, I have an LLC and commercial insurance and millions in liability coverage. Almost everyone else I’ve talked to just have a personal insurance policy, which is crazy to me. It isn’t that much to setup LLC and get commercial coverage.

 

[FSH 210 Sport]

You are correct, I have an LLC and commercial insurance and millions in liability coverage. Almost everyone else I’ve talked to just have a personal insurance policy, which is crazy to me. It isn’t that much to setup LLC and get commercial coverage.

Yep. I had to carry 2 M in liability insurance when I had my small business to show “intent” to protect my customers from their own idiocy.