Long term boat rental

[Ron]

I get quite a few enquiries from my website as to how people should go about looking to rent boats for say 3month to a year.

 

Some looking for residential accommodation (often following temporary work situations ) some looking to take a long cruise, possibly prior to commiting to ownership.

 

Would it be viable for instance to buy a boat live in it for 3mths and sell it at the end?

If not 3mths over what sort of period would this be economical?

 

Thanks

Ron

[Supermalc]

Well that's what I would do, if I was ever in that situation.

 

Renting usually means putting money in someone elses pocket. OK, you can be unlucky of course, and end up losing, but not very often.

 

If you bought a 30ft GRP boat in dirty condition for say £10,000, simply cleaning it will add lots of value. Even if you refitted a new cooker, fridge etc. after you are done, and sell you should be well in pocket, even counting the licence and mooring charges.

 

With boats there are no legal fees, as with houses for instance, so no lining the pockets of the 'crooks' You can buy as simply as buying a newspaper.

[Ron]

Well that's what I would do, if I was ever in that situation.

 

Renting usually means putting money in someone elses pocket. OK, you can be unlucky of course, and end up losing, but not very often.

 

If you bought a 30ft GRP boat in dirty condition for say £10,000, simply cleaning it will add lots of value. Even if you refitted a new cooker, fridge etc. after you are done, and sell you should be well in pocket, even counting the licence and mooring charges.

 

With boats there are no legal fees, as with houses for instance, so no lining the pockets of the 'crooks' You can buy as simply as buying a newspaper.

 

Thanks

How good a Grp could you expect to buy for £10,000?

I have no experience of GRP on water, any basic guides to the likely problems?

[Supermalc]

Talking generally, GRP boats have a longish life. Many 60s and 70s boats are still around, with also many been left almost unattended for years. There are masses and masses written about osmosis, but never been a problem (except as a bargaining tool) from what I have read.

 

With any elderly and well used item, be it cars, houses, bikes, aeroplanes there is always the issue of wear and tear; what has been replaced, or what requires to be replaced, so it's almost an impossible question.

 

What sort of boat can you get for this money????? well again that all depends, but as just ONE example, I suppose a boat like my friends.

 

 

30ft Freeman.

 

If you want to stay under 7ft wide then a Norman, or Dawncraft 32 should provide enough space for comfort.

 

You say you want to buy, then sell. Barring accidents to engines etc. involving costly repairs I'm assuming you don't mind a little work, mainly cleaning to enable you to sell without a thumping great loss. If you buy from a broker, then obviously you expect to loose 10% or so immediatly as they will require their cut.....so to buy and sell through brokerage will net you a loss of 20%, even if you get the same money.

 

Everyone will say, get a survey. Why? Once again money in someone elses pocket for nothing. Ask around, takes friends, aquaintences, preferable with experience, and get your 'survey' for nothing.

 

Or buy newish, for £50k or so, then resell. You will need a survey, but if you only keep for 3 months, you should recoup the cost at resale.

 

Too may ifs and buts to be specific. But if you start spending many thousands, the loss of income from investment may prove to be significant.

[Tiller Slave]

You get what you pay for!

 

Remember the COSTS of a cheap boat.

 

I.E. Insurance, Boat Safety, licence fee, selling costs such as commission, moorings and maintainence.

And the opportunity cost of capital- the interest you would get on investing the money that you use to buy a boat.

 

Youu must vector these against the cost of long term hiring.

 

If you want to hire long term contact the trade body APCO for advice via www.apco.org.uk

[Supermalc]

http://cgi.ebay.co.uk/liveaboard-in-la-man...1QQcmdZViewItem

 

Here you are.......you could live comfortably on here for 3 months.

[Supermalc]

You get what you pay for!

 

Remember the COSTS of a cheap boat.

 

I.E. Insurance, Boat Safety, licence fee, selling costs such as commission, moorings and maintainence.

And the opportunity cost of capital- the interest you would get on investing the money that you use to buy a boat.

 

Youu must vector these against the cost of long term hiring.

 

If you want to hire long term contact the trade body APCO for advice via www.apco.org.uk

 

 

Exactly.

 

The saving also comes in the cost of a cheap boat. Insurance £69 Basic Boat Liability Co. Selling costs commission £0.00 as you can advertise for free. Maintenance costs the same for any boat. Mooring costs, the same for new or old boats.

 

It has already been said hiring a boat is about £250 per week, or £1000 per month. So if you hire for 10 months you basically get your boat for nothing. So when reselling, even if you take a thumping great loss, you are bound to be in pocket. Add a couple of grand for mooring in a marina, stay onboard for a couple more months, and that too will be taken into account.

 

With an investment of £10,000 8% being a good return, or so I believe (please correct me if I'm wrong) so stay on board for just another month and you'll have a 10% return....still a good deal.

 

Yes you can lose, but also your investment can lose also.

[Ron]

Exactly.

 

The saving also comes in the cost of a cheap boat. Insurance £69 Basic Boat Liability Co. Selling costs commission £0.00 as you can advertise for free. Maintenance costs the same for any boat. Mooring costs, the same for new or old boats.

 

It has already been said hiring a boat is about £250 per week, or £1000 per month. So if you hire for 10 months you basically get your boat for nothing. So when reselling, even if you take a thumping great loss, you are bound to be in pocket. Add a couple of grand for mooring in a marina, stay onboard for a couple more months, and that too will be taken into account.

 

With an investment of £10,000 8% being a good return, or so I believe (please correct me if I'm wrong) so stay on board for just another month and you'll have a 10% return....still a good deal.

 

Yes you can lose, but also your investment can lose also.

 

Many thanks for your responces, which open up avenues of thought, currently I have someone looking for a 3 month rental from circa mid may, I've advised them to log on here, but if anyone knows of a boat going unused for say three months from may (I appreciate unlikely ) and the owners would consider a financial appreciation of their craft in exchange for use let me know and i will pass the message on.

 

Thanks again

 

Ron

[TimRatRace]

Hi,

 

We rent out boats for a min period of 6 months. All inclusive prices start from £750 per month

 

Definite shortage of firms doing this.

 

Happy to chat to anyone - we have some boats left for this year - tim@etrr.co.uk - our business is Escape The Rat Race

 

or 07917 104409

 

Tim