renting out or not!!

[purdey]

Hi, we have been trying to sell our liveaboard narrowboat for the past 6 months but although 5 offers, none actually bought from the wharf where she is (but that is a whole new topic). Now have been asked if we will rent her for 6 months on a legal contract etc. Can anyone advise re rental , deposit anything really. We do need some cash as still paying her licence and trying to visit her frequently to keep her up together...help

[pillingslock]

Hi, we have been trying to sell our liveaboard narrowboat for the past 6 months but although 5 offers, none actually bought from the wharf where she is (but that is a whole new topic). Now have been asked if we will rent her for 6 months on a legal contract etc. Can anyone advise re rental , deposit anything really. We do need some cash as still paying her licence and trying to visit her frequently to keep her up together...help

Hi there! - we have had three guys here that have done this in the past on 3 different boats and it does seemed to have worked very well for them. They did manage to get working professionals in who were lovely to have around the place and most used the time aboard to see if they could do it themselves or until they found a house locally.

 

There is a company in Dartmouth that rents out yachts and large cruisers as static holiday lets - http://www.latelet.com/rentals/26403.html - was they people I think?

 

If you're in a nice spot this could work really well as you can get over £100 a night and all you do is have a quick clean up between hires and change the bedding & towels.

 

We have had a property on www.laterooms.com since August and we have had over 70% occupancy at over £95 a night...that could be worth a try too?

 

Good luck!

 

Paul

Edited December 16, 2009 by pillingslock

[purdey]

Hi there! - we have had three guys here that have done this in the past on 3 different boats and it does seemed to have worked very well for them. They did manage to get working professionals in who were lovely to have around the place and most used the time aboard to see if they could do it themselves or until they found a house locally.

 

There is a company in Dartmouth that rents out yachts and large cruisers as static holiday lets - http://www.latelet.com/rentals/26403.html - was they people I think?

 

If you're in a nice spot this could work really well as you can get over £100 a night and all you do is have a quick clean up between hires and change the bedding & towels.

 

We have had a property on www.laterooms.com since August and we have had over 70% occupancy at over £95 a night...that could be worth a try too?

 

Good luck!

 

Paul

Thanks for that. It was just for the long let as she wants to see if she can do liveaboard for good!!! Need to ask re insurance etc. I think

[andy3196]

Hi, we have been trying to sell our liveaboard narrowboat for the past 6 months but although 5 offers, none actually bought from the wharf where she is (but that is a whole new topic). Now have been asked if we will rent her for 6 months on a legal contract etc. Can anyone advise re rental , deposit anything really. We do need some cash as still paying her licence and trying to visit her frequently to keep her up together...help

IF on BW waters, have a read of this: http://www.britishwaterways.co.uk/media/do...at_for_hire.pdf

[Smelly]

You'll need a trading licence which could be built into the rental figure.

 

You'd be well advised to seek a solicitor's advice as the usual protection for rental premises wouldn't apply. You'll probably need them to draw up a contract.

 

Ring your insurance company.

 

Doubling your licence fee plus additional costs would probably still see a small profit compared to a moderate city rent (well Birmingham anyhow).

 

Good luck!

[1066]

Why not try another broker? Or advertise it on:-

 

http://www.boatsandoutboards.co.uk/php/welcome.php3

 

http://www.apolloduck.co.uk/

 

Even in these tough times, if a boat is good value for money, it will sell.

 

Renting any property out is always a risk .... you could end up with a wreck that is only useful as a storage box.

[ditchcrawler]

Why not try another broker? Or advertise it on:-

 

http://www.boatsandoutboards.co.uk/php/welcome.php3

 

http://www.apolloduck.co.uk/

 

Even in these tough times, if a boat is good value for money, it will sell.

 

Renting any property out is always a risk .... you could end up with a wreck that is only useful as a storage box.

I seam to remember when I first joined this forum, some one rented their boat out and talk was getting toward sending the boys round to get the hire to leave, when they did go the boat was in somewhat poorer condition.

[magnetman]

Hi there! - we have had three guys here that have done this in the past on 3 different boats and it does seemed to have worked very well for them. They did manage to get working professionals in who were lovely to have around the place and most used the time aboard to see if they could do it themselves or until they found a house locally.

 

There is a company in Dartmouth that rents out yachts and large cruisers as static holiday lets - http://www.latelet.com/rentals/26403.html - was they people I think?

 

If you're in a nice spot this could work really well as you can get over £100 a night and all you do is have a quick clean up between hires and change the bedding & towels.

 

We have had a property on www.laterooms.com since August and we have had over 70% occupancy at over £95 a night...that could be worth a try too?

 

Good luck!

 

Paul

 

£100 a night? :lol:

 

I guess for that you get 100% cotton bedding

[Biggles]

I will watch this thread with interest. I rent out properties as my business, and often wondered if I could rent the NB out over the winter. I cant see that insurance would be a problem but suspect they would use it as a way to get a bigger premium.

 

If you were moored in a marina you might have to look at the contract there.

 

As regards the letting agreement, I think a lot of what is in a AST contract could be applied as a "contract", but it would not be within the housing act.

 

It could be an ideal way of using the NB while its closed season, but equally it could be a nightmare. I think I would restrict cruising in some way, and would just in case fit a GSM tracker, and see the neighbours got a bottle of something every now and them just to keep an eye on things.

 

Biggles

[jonk]

Might be worth contacting http://www.etrr.co.uk/ who experience of long-term letting of NBs

[The Anonymous Bard]

Don't know if general tenancy agreements apply to a boat as a rule but maybe the same principles apply... vet the prospective tenant as best you can, references from previous lettings if applicable and make sure that you get an adequate bond should they turn out to be wreckers maybe?

 

Also build in cost of insurance and don't rely on tenant to cover this?

[boatbot]

Might be worth contacting http://www.etrr.co.uk/ who experience of long-term letting of NBs

Alex is a great guy-but he said he wasn't taking on any more boats-but it might have changed-this was 2008.