Renting out a boat through Air bnb

[Loz]

Hi all, I don't yet have a boat but am considering buying one, I would like to spend time on the water but it isn't financially viable for me to do it full time and wouldn't fit with my work. So I'm wondering about using Air bnb to do the odd weekend hire out to help the finances. Does anyone have any experience of this, is it a common approach - I've seen a couple of boats on Air bnb for hire.  Also do people rent their boats out and let holidaying guests move the boat - I'd be really nervous about that.  I'm looking for advice on any additional insurance that might be needed, if there is any rules in terms of moorings I should know about in relation to renting out for short periods, any thoughts on the viability of this as an idea.  Are there any Air bnb equivelents for waterways?

Many thanks

 

Loz 

[Guest]

28 minutes ago, Loz said:

Hi all, I don't yet have a boat but am considering buying one, I would like to spend time on the water but it isn't financially viable for me to do it full time and wouldn't fit with my work. So I'm wondering about using Air bnb to do the odd weekend hire out to help the finances. Does anyone have any experience of this, is it a common approach - I've seen a couple of boats on Air bnb for hire.  Also do people rent their boats out and let holidaying guests move the boat - I'd be really nervous about that.  I'm looking for advice on any additional insurance that might be needed, if there is any rules in terms of moorings I should know about in relation to renting out for short periods, any thoughts on the viability of this as an idea.  Are there any Air bnb equivelents for waterways?

Many thanks

 

Loz 

Have a read of this first.

 

https://www.google.com/url?sa=t&source=web&rct=j&url=https://canalrivertrust.org.uk/media/library/723.pdf&ved=2ahUKEwi26Zmot_XpAhWQQhUIHenaCj0QFjABegQIAxAB&usg=AOvVaw2MjaYZxqISLbppAzCPipvY&cshid=1591729821398

 

Some further info.

 

https://canalrivertrust.org.uk/news-and-views/news/new-licence-introduced-for-boat-renting

Edited June 9, 2020 by The Happy Nomad

[nicknorman]

Bit of an old chestnut this! To rent your boat our you need a commercial licence from CRT (presuming you are on CRT waters), insurance that covers hiring, and a Boat Safety Certificate that is applicable to a hire boat. By the time you have added all that up, and taken into consideration that folk Airbnb’ing a boat will expect things like water, electricity, heating etc to work just the same as it does in a house, most people find it isn’t viable. And when stuff goes wrong, as it will, the cost of fixing it.

 

If I may say so, since you don’t yet have a boat, you don’t know what you are getting into. I’d suggest getting familiar with the issues of boating first, before becoming a boatlord  (landlord).

[dave moore]

Exactly, Nick

[David Mack]

You might need planning permission. Here is the planning application for a proposed B&B narrowboat near me 5 years ago. In the end the application was approved, but it hasn't happened.

https://portal.calderdale.gov.uk/online-applications/applicationDetails.do?keyVal=NPH53BDW0D600&activeTab=summary

 

[LadyG]

Oh, what a Good idea, has anyone thought of it?

 

[zenataomm]

After you've read the above 3 links which you will need to understand as well as comply with, the following is along the lines of operational/logistic pitfalls.

 

Even if the boat isn't to be moved

Even if you are on an approved mooring to allow this

Even if the owner of the moorings has no problem with strangers having keys to their premises gates

Even if you have all of the necessary certificates/licenses/insurances/safety examinations

Even if planning permission is either forthcoming or decided not necessary

Even if you have a permanent electricity hook up

 

There are still things that will need attending to on an "It needs doing now" basis.  Boats are like that.

Water tanks need filling, and run out when required to provide

Toilets need emptying and fill up when required to be used

Electrics often rely on 240v ac stepped down to 12v dc to run on board, but then use an inverter to kick it back up to mains for things like TVs and fridges.  It can be complicated and need attention at the most inconvenient times.

Heating and cooking will most likely be via gas, which is bottled.   Two bottles with an automatic change over may be fitted, but at some point one's going to need changing.

There's no wheelie bin for rubbish by the back door, and the mooring owner may not want domestic rubbish in his commercially rated Biffa bin.  Mine doesn't!

 

If you go for letting your boat out not as a static, but with permission to poddle up and down the cut for the weekend or so, then any of us here could easily fill another couple of pages on the things that could go wrong or they, as novices might fall foul of.  Apart from mechanical breakdown most of these additional issues would likely to fall upon you to deal with.

 

I first stepped on a canal boat as a young teenager in 1966, and I've owned boats ever since.  I've watched all of the new rules/requirements and regulations being added, and I would not attempt what you're considering.  Not because nobody looks after your property the way you do, but the small potential income seems hardly worth the income, up front expense, responsibility or learning curve.

[sueb]

Have you thought about getting a share in a boat?

[howardang]

27 minutes ago, sueb said:

Have you thought about getting a share in a boat?

I don't think that would be the solution that the OP is looking for, because she mentions that she wants to generate some income. It seems to fall into the pattern we see more and more on this forum-namely buying a boat, with no experience on what is involved, to generate income to pay for occasional boating. 

 

Howard

[BilgePump]

Hi Loz and welcome. Have a quick search on this forum to see the topic up for discussion previously. An example from last year ran to five pages going round in circles when the poster was frustrated at not being able to find a marina that would accommodate their proposed airbnb boat.

 

There are so many issues at play here, but even if it was easy to do legitimately, the idea of 'using Air bnb to do the odd weekend hire out to help the finances' just wouldn't generate sufficient revenue to offset the running costs of the boat, let alone the depreciation.

 

Nobody is being a killjoy or doomsayer here, just realistic about the fact that CRT would rather have a limited number of professional full-time outfits hiring boats out and then private leisure boaters rather than a free for all of anyone and everyone with something that floats trying to run an unsafe boat on a shoestring by renting it out. For example a normal leisure BSS test isn't concerned with whether the boater kills themself, just keeping others around safe. A commercial safety test is very much concerned with the safety of people on the boat.

 

It can be done but it's not easy, it won't be cheap, and I imagine not viable for 'the odd weekend hire'

[Cheese]

Agree there are (too) many pitfalls in trying to generate a direct income via AirBnB or similar.

 

But haven't some hire companies had arrangements in the past whereby they lease a boat from the owner and then hire it out?   During peak season they can effectively increase the size of their fleet without the upfront purchase cost; generate some income for both themselves and the owner; and deal with the rental, changeover, servicing, emergency call outs etc.   No idea if it still happens, or how it works in detail so whether it is practical.

 

Clearly you have to be prepared for the boat to be moved; you have to be moored near the hire base; you might have to move out for a week, or weeks, at a time; and it restricts the amount of personalisation you can do - it might have to be a lot more spartan than most people would like for their home.  But for the right size of boat, renting to say couples rather than groups, and if there is no other way for your finances to work, it could be worth looking into.

 

 

[David Mack]

8 hours ago, Cheese said:

 

But haven't some hire companies had arrangements in the past whereby they lease a boat from the owner and then hire it out?   During peak season they can effectively increase the size of their fleet without the upfront purchase cost; generate some income for both themselves and the owner; and deal with the rental, changeover, servicing, emergency call outs etc.   No idea if it still happens, or how it works in detail so whether it is practical.

 

It still happens. One example below. But generally the company sources the boat to their requirements (which may not match yours), you pay the capital cost and get a share of the hire income in return.

https://www.aquanarrowboats.co.uk/sponsorship/

[Guest]

I only have to look at the prices hire fleets have to charge to make it pay to decide it's not something I would want to get into with a private boat, but good luck if you decide it's for you.

[dmr]

Lots of people do it, especially (we are told) in London with varying degrees of compliance. One or two hire companies actually started off with one boat and a bit of rule bending. If you buy a boat you can let any of your family and friends use it as long as no cash changes hands, but maybe they could just buy (give) you some boat parts or pay for an engine service etc, its a grey area.  

 

There is always the concern that an insurance company will suspect and fail to pay out if there is an accident, and marine insurers are particularly good at finding reasons not to pay. Another concern is that hire companies like to charge £1000+ per week for a hire and as few of them of making much profit this must reflect the "true" cost though they will have more overheads than you.

 

A bloke I know has recently started a little hire business and looks to doing well, but he did say he had totally failed to anticipate the number of call-outs. Your hirers will be phoning you at 9pm on a Sunday saying they need a new hammer and mooring pins urgently because they left theirs (yours) behind somewhere.

 

................Dave 

[Athy]

13 hours ago, Cheese said:

 

 

But haven't some hire companies had arrangements in the past whereby they lease a boat from the owner and then hire it out?   During peak season they can effectively increase the size of their fleet without the upfront purchase cost; generate some income for both themselves and the owner; and deal with the rental, changeover, servicing, emergency call outs etc.   No idea if it still happens, or how it works in detail so whether it is practical.

 

 

Yes, known as "sponsored boats". You own the boat but it gets painted in the hire fleet's livery and you have a guaranteed number of weeks per year when you can use it yourself. We looked into this a few years ago, but ended up investing in land-based properties instead, largely because if the hire firm has a quiet season, you get no income if no one has hired your boat that week.

[BilgePump]

3 minutes ago, Athy said:

Yes, known as "sponsored boats". You own the boat but it gets painted in the hire fleet's livery and you have a guaranteed number of weeks per year when you can use it yourself. We looked into this a few years ago, but ended up investing in land-based properties instead, largely because if the hire firm has a quiet season, you get no income if no one has hired your boat that week.

All too pertinent at the moment if someone bases their boat ownership and running costs as relying on a hire/rental income.

[Athy]

3 minutes ago, BilgePump said:

All too pertinent at the moment if someone bases their boat ownership and running costs as relying on a hire/rental income.

Yes, this is a pretty good example of a "quiet season"!

[zenataomm]

I recommend we make this post into some kind of STICKY in order that it may be referred to when the next entrepreneur pops by with a fantastic and unique idea.

I think this the fourth or fifth time I've commented in a thread along these lines.

[Athy]

16 hours ago, LadyG said:

Oh, what a Good idea, has anyone thought of it?

 

Yes they have, but one should applaud Loz for having the imagination to think of it - even if, as m'learned colleagues have been pointing out throughout the thread, it's not the most practicable scheme.

[BilgePump]

28 minutes ago, Athy said:

Yes they have, but one should applaud Loz for having the imagination to think of it - even if, as m'learned colleagues have been pointing out throughout the thread, it's not the most practicable scheme.

And the OP came on to ask genuine questions about the viability of the idea, not telling us what they were going to do and expecting the whole system to accommodate their plan. Certainly hope my reply wasn't seen as dismissive. Friend of mine has a canal front at his business and he too at first thought that it would be an easy process to stick a 'day boat' outside it for some extra cash. Needless to say, he ditched the plan when he realised the logistics.

[restlessnomad]

think best way to know is to contact those who actually do it, on airbnb.

I have seen a listing where you are allowed to use it as boutique hotel but not take it for a ride, much less hassle for owner.

https://www.airbnb.co.uk/rooms/16473758