Renting out our boat

[tomandsophie]

We want to go away travelling for a few months over winter next year, starting in September. To be able to afford this we will have to rent our boat out. Is it easy enough to do this? The difficulty that I can foresee is that our BW licence isn't a business one. Perhaps I need to contact BW about it. Any ideas?

[RLWP]

We want to go away travelling for a few months over winter next year, starting in September. To be able to afford this we will have to rent our boat out. Is it easy enough to do this? The difficulty that I can foresee is that our BW licence isn't a business one. Perhaps I need to contact BW about it. Any ideas?

 

We looked into this. As we have an ex-hire boat we thought about hiring it out. There are obvious implications like insurance and licenses, and not so obvious ones like will BW allow you to run a business from your mooring. By all means ask BW, but we gave it up as being too hard.

 

Richard

[stuart]

Its possible, but I'd expect the costs to outweigh the income generated over a few months.

 

You'd need to get a different BSS inspection I believe, insurance and BW commercial licence.

 

Do you have friends/family that would be interested in "boat sitting" instead?

[RichardH]

I would definately talk to BW as we have done it and the venture kicks off next spring in earnest but........I suspect you are talking about a long term rental as opposed to weekly breaks.

 

There is a company specialising in long term rentals - Escape the Rat Race http://etrr.co.uk/?page=boats&id=1

[tomandsophie]

Hmm, looks like it might have to be 'boat-sitting' and a donation to be paid each month.

However, this does restrict us to only renting to people we know as we would have to really trust them if we were to rent our boat to them with no deposit or paperwork.

[Bones]

Hmm, looks like it might have to be 'boat-sitting' and a donation to be paid each month.

However, this does restrict us to only renting to people we know as we would have to really trust them if we were to rent our boat to them with no deposit or paperwork.

 

It is difficult. I 'looked after' a friends boat for 2 years, and I became the 'agent' for the boat which covered me for insurance etc etc. I didn't pay any money though, but did pay for the licence etc while aboard.

[Chris Pink]

Hmm, looks like it might have to be 'boat-sitting' and a donation to be paid each month.

However, this does restrict us to only renting to people we know as we would have to really trust them if we were to rent our boat to them with no deposit or paperwork.

 

I think it's probably sensible to have some degree of trust anyway as the potential for abuse of a boat is much greater than in a house.

 

None of the landlord/tenant laws apply to this kind of arrangement but ordinary contract law does so look upon it as renting a vehicle or piece of equipment. I see no legal reason why you cannot rent the boat and then let the renter licence and insure the boat.

 

Best bet is to get someone to act as your agent and keep an eye on things.

 

Several boats down your way are rented as we speak.

[howardang]

Hmm, looks like it might have to be 'boat-sitting' and a donation to be paid each month.

However, this does restrict us to only renting to people we know as we would have to really trust them if we were to rent our boat to them with no deposit or paperwork.

I suspect that by posting the above you have left yourself wide open to a refusal of any claim from your insurance company while someone else is "boat sitting". I think they will class this as renting in another guise.

 

Howard Anguish

[RichardH]

Hmm, looks like it might have to be 'boat-sitting' and a donation to be paid each month.

However, this does restrict us to only renting to people we know as we would have to really trust them if we were to rent our boat to them with no deposit or paperwork.

 

Just be very very careful. I have said it before on the forum.....I know someone in the hire business who had a huge insurance claim against him due to a serious accident. If there was any sniff of money changing hands (in kind, whatever you like) then you'd be liable for the costs.

 

We have even checked that our hire insurance covers 3rd party claims e.g. dog walker trips over a mooring rope and claims against me.

[Pie Eater]

Why not see if you can swap the boat for a house/apartment in the country where you wish to travel? I have seen similar swaps advertised but I cannot remember where.

 

Steve

[Bones]

I suspect that by posting the above you have left yourself wide open to a refusal of any claim from your insurance company while someone else is "boat sitting". I think they will class this as renting in another guise.Howard Anguish

 

 

It wasn't the case for me. But I was the 'agent' which meant that things were in my name - and that certainly requires a great deal of trust! I couldn't have run off with the boat because the owner was still specified as the owner in writing, if not in practice.

[howardang]

It wasn't the case for me. But I was the 'agent' which meant that things were in my name - and that certainly requires a great deal of trust! I couldn't have run off with the boat because the owner was still specified as the owner in writing, if not in practice.

Yes, but I think the crucnch would come if a claim was made. Insurance companies in general, and marine insurance companies are no exception, are aware of these "arrangements" and if there is an exchange of money I would suspect that they would class it as renting/hiring.

 

Howard Anguish

[Bones]

Yes, but I think the crucnch would come if a claim was made. Insurance companies in general, and marine insurance companies are no exception, are aware of these "arrangements" and if there is an exchange of money I would suspect that they would class it as renting/hiring.

 

Howard Anguish

 

that was the difference for me, there was no exchange of monies.

Edited December 12, 2007 by Bones

[debbifiggy]

Hmm, looks like it might have to be 'boat-sitting' and a donation to be paid each month.

However, this does restrict us to only renting to people we know as we would have to really trust them if we were to rent our boat to them with no deposit or paperwork.

Word of advice, if you are "letting" your boat you will fall under the same regulations as land based landlords so will have to comply with landlord gas inspections, and as it's a boat you will need to comply with the 2002 Section 10 Carbon Monoxide emmissions on your Boat Safety Cert (you will probably have to have your boat re-examined to the higher high boat standard for ventilation etc). Finally your insurance will not be valid unless you declare your intentions .... and if your insurance and Boat Safety are invalid you are in breach of the BW licence conditions and therefore unlicenced ......

 

It can all be done quite cheaply, safely and legally, just get some advice before you do it as you are already doing via this forum. Talk to BW too (suggest the local waterway office or patrol officer) if you are moored on their water and they are generally very helpful. You might need to change to a business licence but this shouldn't cost you anything as if your annual "business" turnover is less than £45,000 then you pay exactly the same fee as a private pleasure craft licence IIRC. More info on their website and also on the Boat Safety Scheme website.

 

Best of luck, hope it all works out for you. D :-)

Edited December 12, 2007 by debbifiggy