Shared Ownership

[Trebor29]

My wife and I are considering shared ownership of a narrow boat. Can anyone recommend a good scheme or suggest schemes to avoid? Any advice would be appreciated.

[Paul C]

We looked at it last year, in quite a lot of detail. Didn't end up buying a boat share, but did buy a whole boat! All I'd say is, make sure you review the yearly maintenance cost closely, and ask questions about what was spent, and on what items. Sometimes prices for simple tasks seem to be unrealistically high.

 

There was a recent thread about share boating and quite a lot of discussion on the costs.

[frahkn]

I recently sold my share in an ex-Ownerships boat which is now managed by ABCN, as many ex-Ownerships boats are. I owned the share for ten years and would not have sold had I not been buying my own boat.

 

I would reccommend an ex-Ownerships boat since the drama surrounding the collapse of the original scheme at least made owners resilient and able to take most events in their stride. Although the scheme ultimately failed, the boats are of good quality and the day to day organisation was (and is in most cases) good.

 

There are always shares in some boats for sale - Ownerships had 110 boats in the fleet at the end.

[Mac of Cygnet]

Perhaps you already know about Boatshare http://www.boatshare.co.uk/ , Phil Duerden's site. He worked for Ownerships but left before it all blew up. Probably the best selection of boat shares of all types, and a sourrce of advice and info.

[ditchcrawler]

Self managed boats should work out a lot cheaper than ones run by a management company.

[howardang]

Self managed boats should work out a lot cheaper than ones run by a management company.

Usually around £400 or so each per 12th share because there is no management fee

to pay. However, this calls for part owners who are willing to work on behalf of the others to make sure the admin and repairs are carried out properly.

 

Howard

[STIG]

Carefree cruisin at Sandbach, check em out

 

Boats2share.com

[steven wilkinson]

I am.sitting on our shared boat - this is the very first week have had aboard, and so far its going quite well. We took a while to decide on the share we wanted based upon dog friendly, reverse layout, cruiser stern and a school holiday share. One.week in and everything seems to be going well.

[inlandways]

as with life there are always risks. The idea of boat sharing is a good seems a number are out there. My worry would be unexpected repair costs in case of a major problem. Are there ways to "insure" in case these cropped up?

[David Mack]

as with life there are always risks. The idea of boat sharing is a good seems a number are out there. My worry would be unexpected repair costs in case of a major problem. Are there ways to "insure" in case these cropped up?

Yes. All the owners make an additional contribution over and above the running costs to a 'sinking fund'.

[Jerra]

as with life there are always risks. The idea of boat sharing is a good seems a number are out there. My worry would be unexpected repair costs in case of a major problem. Are there ways to "insure" in case these cropped up?

The unexpected repair cost is only a fraction for each share holder not as bad as if it is a single owner boat.