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ContinuousWave Whaler Moderated Discussion Areas ContinuousWave: The Whaler GAM or General Area Earn Money by Renting Your Boat
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Author | Topic: Earn Money by Renting Your Boat |
Ridge Runner |
posted 04-23-2014 10:11 PM ET (US)
A few months ago I posted a survey from Mercury Marine about a Mercury sponsored/managed boat owner rental program: This was the email I received: "We Would Like Your Opinion Mercury Marine constantly seeks opportunities to make boating better for everyone who loves to spend time on the water, and we’re asking you to share your opinion regarding a proposed boater-to-boater rental program. Given the popularity of online vacation rentals, such as VRBO and Airbnb, we’d like to hear your thoughts about similar programs for boaters. The survey is brief and should take no more than 10 minutes to complete. Please click on the survey link below to access the survey. Click here to open the Boat Rental Survey Thank you for participating! Ben Duke Vice President of Marketing I seems this Mercury sponsored program never materialized. Today I received a roll out of a very similar program from BoatUS and Boatbound http://smtp.boatus.net/dm?id=BCE336581DD7E36DE3BBE62B5BBF4880 The program seems very flexible with the boat owner setting the prices and have the last say about renting to the end-user or not, also BoatUS is providing $3 million dollars of insurance coverage. What do you think of a program like this? |
Jeff |
posted 04-23-2014 10:52 PM ET (US)
Not in a million years would I consider letting someone random person who I have never met, rent my personal boat. Even if they were supposedly vetted by a website, or third party and I had extra insurance coverage through a rental service. Unlike vacation rentals, boat are moving objects...that introduces all kinds of additional variables and possibilities for utter disaster. |
RevengeFamily |
posted 04-24-2014 07:24 AM ET (US)
I agree with Jeff... Not happening!!! I've seen to many morons on the water... Norm |
saumon |
posted 04-24-2014 07:43 AM ET (US)
Same thing here. Funny enough, I wouldn't mind renting my $45k SUV if I had to, but not my $15k boat. Go figure! |
pandrewt |
posted 04-24-2014 09:13 AM ET (US)
I had a very good experience renting from Cruzin. https://www.cruzin.com/ I was spending the weekend on Lake George with some friends. It turns out the CEO of a new boat manufacturer called Hornet owns a home on Lake George. He has a small fleet of the Hornet 17s at his house and rents them through Cruzin. https://www.cruzin.com/boat_rentals/302 The price was quite reasonable relative to other rental options on the Lake. From what I've heard, he isn't renting them out for the money so much as raising awareness about the boats. I loved the it. The performance/profile reminded me of my first boat - a 1978 15ft Checkmake. As others have pointed out, however, I would be very reluctant to rent out my '73 19' Outrage. |
Whalrman |
posted 04-24-2014 09:31 AM ET (US)
No way Jose`!!!! Merc. probbly see's this as a way to sell more engines to replace the blown/torn up engines. |
Dave Sutton |
posted 04-24-2014 10:02 AM ET (US)
"I would be very reluctant to rent out my '73 19' Outrage" Which begs the question "who would want to rent it anyhow?" The rental market is for nearly new boats, in box-stock condition, zero customization, with absolutely turn key reliability. It's a niche market, but one that might allow you to own a boat of a newer model and year than you might otherwise be able to afford. You, as the rental agency, need to be willing to deal face-to-face with people, check them out on the boat, offer advice and instruction, and to monitor their use. You also need to be able to deal with complaints when brought to your attention, and to suck up the occasional damaged prop, etc. Renters generally sign an agreement, backed with a credit card deposit, to be responsible for damage, no different than a rental car company does business. Wear and tear is expected. It's easiest to FIND wear and tear when the item being rented is so clean and new looking that it's obvious. Again, think rental car fleets. If you have a place on a lake or bay, with your own dock, and the ability to do all of this, then you are the target of Merc's interest. Nobody is interested in renting your pride and joy old boat... they want a 2014 model. I was associated with a dive shop for many years that rented jet-skis and inflatable boats (Zodiacs) to recreational users and scuba divers. The above is all based on observing that market for 10 years. None of the skis rented were ever more than 2 years old. Damage was very rare, and when it occured the credit card was billed for the repair estimate and that was that. Every renter went thru a training and orientation session including on-water time, and it was run as a business, not a hobby. If you had a Mercury powered boat to rent, and were participating in a booking program run by a third party, you should expect to run things exactly the same way, like a business. Nobody, but nobody, wants to rent your old Whaler.
, |
Tom W Clark |
posted 04-24-2014 10:06 AM ET (US)
Jesus. We're not talking about jet skis. I'd love to rent a vintage Outrage 19 while on vacation. I just don't see that ever happening. Who would offer up a boat like that? Not gonna happen. |
daveweight |
posted 04-24-2014 10:44 AM ET (US)
I would rent my boat to Tom W Clark but not anybody else, in fact I would lend my boat to Tom. Dave Weight |
Dave Sutton |
posted 04-24-2014 10:50 AM ET (US)
"We're not talking about jet skis" And $20K inflatable Zodiac dive boats powered by 90 HP Yamahas were not Jetskis either. Not to mention that the Jetskis being rented have a far greater probability of abuse than a small boat rented by a family. We rented both with good success. Now: Mercury isn't talking about Joe Sixpack renting out his 30 year old Whaler, either, no matter how well kept. They are interested in the rental of nearly new boats powered by nearly new outboards. It's a market survey by Corporate America. They don't want your boat...
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Binkster |
posted 04-24-2014 12:12 PM ET (US)
Renting my boat? yea, right. There are not many people who I would even bring out in my boat! rich |
Tom W Clark |
posted 04-24-2014 12:56 PM ET (US)
Dave Weight -- Thank you. You already have! I have very found memories of running your 16SL on the River Thames between the flood barrier and Greenwich, getting the tour of London by water and hanging out with you at the Greenwich Yacht Club with your brother Chris. The next time I'm in London...
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jcdawg83 |
posted 04-24-2014 01:44 PM ET (US)
I wouldn't rent my boat, I'm too protective and particular about my stuff whether it's a boat or car and I use my boat too much to have it unavailable because it's rented. I can see the program working fine for someone who had a boat at a resort area, in a marina, where there was an on site agent to oversee the rental and the boat owner did not use the boat very much. As long as there was a check out/check in mechanism in place to assure the boat wasn't damaged, I think the idea would work. Having the marina staff available to handle the transaction would make the idea easy on both sides. I think about the boats I see in dry stack storage buildings in marinas that rarely, if ever, move. The owner may live out of town or simply doesn't use their boat very much. I can see that type of boat being rented and the owner really enjoying the money to pay the marina bill and maintenance and repairs. Also, the use from the rentals would probably keep the boat in better condition than it would be if it sat for months on end in a rack. I cannot imagine anyone who uses their boat regularly wanting to rent it. |
EJO |
posted 04-24-2014 05:40 PM ET (US)
Like Dave said run it as a business. Secondly people are looking for specific type boats. I have been on Cruzin since Beta testing and I'm willing to rent my boat for a day to most of you here on CW. I wouldn't rent to this guy though. https://www.youtube.com/watch?v=EAyDS1NuK_A You must set forth requirements. The same for me like Tom said I would love to rent a Whaler somewhere in the country where I'm visiting/traveling. |
Ridge Runner |
posted 04-24-2014 09:07 PM ET (US)
For me it is kind of interesting when you run the theoretical math in my situation. Take a new 2014 170 Montauk with a few options the purchase price would about $34,000. I would be able to keep the boat on the New Jersey shore, Barnegat Bay, in the summer and move it to Port Charlotte, FL in the winter. Each summer/winter season is about 4 months long. If you could rent the boat for 1 day a week over the 32 week period at a price of $350 a day that would be $11,200 a year and would leave a lot of open days to personally use the boat. I would also guess that the motor would be running about 6 hours a day for the 32 rental days adding only 192 hours to the motor in a year. Insurance would be covered by BoatUS and damaged would be covered by the renter or BoatUS. $11,200 a year equals almost a new 170 Montauk every 3 years and you get a boat for your personal use a basically at no cost. |
Ferdinando |
posted 04-24-2014 09:55 PM ET (US)
Rent my 190 out? You kidding, I won't even let my wife use it....... |
Dave Sutton |
posted 04-24-2014 10:38 PM ET (US)
"Dave Sutton -- You can keep your jetski" Hey Tom: Bugger off. Show some respect to be respected yourself. Now: I've never owned a jetski,(never even rode one, just not interested), but boats are boats. I've witnessed at close range how renting "mechanical floating things that are used by other people" works in the real world. Diving equipment, high end inflatable RIB boats, and yes: Jetskis. I've also *personally* run flight schools and rented airplanes to people, including my own airplanes. So take this as just information from someone who's been there, done that, and succeeded in it as a business. Renters *in the main* want a predictable experience with a vanilla product. They want to go (fishing, scuba diving, sighseeing, beachcombing) and they want to do it with the least hassle. Most of them could care less about what sort of boat they rent, and truthfully? Guess what: Mercury is doing market research to see what sort of Brunswick cookie-cutter "cheap boats" powered by Brunswick "cheap engines" might be available in numbers suitable enough to be able to offer that sort of booking to people. What they do *not* want is a polyglot of old boats in various states of condition that each owner things is the best thing since sliced bread. "Except that you need to jiggle this and that, and now and then it might do this..." Naah... that's not what they are trying to source. So, basically, given a choice between a perfect 1982 Whaler and a 2012 "Brunswick Cheapie", they want to rent the cheapie. Of course there are exceptions, and participating here in the forum is a self selection into a different group. Just don't think for a minute that what *we* would prefer is what the mainstream renter wants.
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pandrewt |
posted 04-25-2014 11:54 AM ET (US)
Perhaps worthwhile to separate some of the issues: Supply Side: - Ridge Runner rightly mentions that the primary angle is to improve utilization and ROI on an otherwise idle asset. - Many on this forum (myself included) are not inclined to rent their boats out, a large number of owners lack the emotional attachment. Demand Side: |
K Albus |
posted 04-25-2014 02:20 PM ET (US)
I followed the link in the initial post, and then continued to click around until I got to the actual boat rental website. On the first page of available boats, I found this older Boston Whaler which has apparently been rented out: https://boatbound.co/boats/ryevb . Apparently there is at least some market for rental of older Whalers. |
Powergroove803 |
posted 04-25-2014 03:08 PM ET (US)
As a Whaler group i believe we have good success showing off "our rides" to people who frequent this group, maybe a "when in town look me up" kind of network. I was in san fran a couple of weeks ago and would have loved to hook up with an old BW fan and seen the harbor, but instead I meerly a tourist.... If in SC, look me up, I wont rent it to you, but you can certainly go for a ride |
Tom W Clark |
posted 04-25-2014 03:17 PM ET (US)
http://www.anacortesyachtcharters.com/fleet_dayrental.cfm I have friends who have rented Charlie Too for a week each summer when they take a family vacation on Orcs Island in the San Juans and have done so for many years The boat is a 22' Revenge that is now 35 years old. Anacortes Yacht Charter also rents a 15' Whaler, same vintage. There is no question about there being a very real demand for old Whalers as rentals, I just don't think private owners are likely to offer up their own boats. |
Ridge Runner |
posted 04-25-2014 04:29 PM ET (US)
I.C. Sharks on Tampa Bay rents a couple of older Whalers at good rates an offers a nice 25% Military Discount. http://icsharks.com/BoatRentalsHome.html |
swist |
posted 04-25-2014 05:18 PM ET (US)
I have regularly rented small boats when in Florida on vacation (one of the few places you can probably make money running a business like that year around). Most places rent inexpensive brands at pretty steep prices. You do tend to see reliable newer engines on them, like smaller Yamaha 4strokes, because they don't need Joe Tourist, who probably lied about his boating experience, to be stranded somewhere. Similarly Joe Tourist is probably going to be responsible for a lot of dings and dungs. Wouldn't want those on a boat anyone really cares about. The other factor is they have to be as simple as possible to operate, with the fewest controls or other options. I think the only electronics I had was a simple depthsounder. Radio? Cell phone. I think I got a Carolina Skiff the last time. |
DeeVee |
posted 04-25-2014 06:15 PM ET (US)
My wife surprised me on our 10th wedding anniversary (many years ago) by renting a 17' Outrage during our stay on Maui. We looked for a similar rental during our stay for our 30th anniversary and there were none to be had, though there are boats for rent.
That is the main reason I would never rent my boat out. Doug Vazquez |
Dave Sutton |
posted 04-26-2014 09:52 AM ET (US)
Sucessful rental owners don't rent out what *they* like. They rent out what *renters like* and what *makes money*. In some markets that's a Jet-Ski. In others a kayak. In yet others it's a rowboat. Elsewhere it's a mid level center console fishing boat. And in some places it's a 120 foot fully crewed yacht. Someplace in the mix is a market for brand new Whalers that most of us would drool over, but for a rental business is just another asset on a balance sheet that will be sold when depreciated, and will be long gone elsewhere before it becomes unreliable. Marginal owners, meaning the guy who owns one boat that represents a large fraction of his personal net worth are not folks that ought to be renting out what they own. If you can't afford to lose it, you shouldn't be renting it. Now: Take this from someone who earns his very comfortable living renting out surplus military jet fighters (Russian MiGs mostly) to the Department of Defense. If I worried about scratches from pilots boots on the wing, and blown tires on landing, and burned up brakes, and engine starts that don't go perfectly, and the occasional mishanding of systems, and the odd overstress, and all of that sort of thing that a "Spends his days polishing his hangar queen" owner who can *barely* afford just one jet would cry over, well... I would't earn a dollar. The difference is that he loves his jet and could not accept it being scratched, never mind destroyed, and to me a jet is just a tool, expendable, repairable, and replacable. I am paid to do two things: (1) To be willing to invest in capital equipment that I am then willing to let someone else use, and (2) my willingness to accept the risk of wear and tear, unscheduled damage, and possible destruction and loss. None of my jets are insured for damage, and in my military contracts the government is not responsible for damage either. It's my own personal risk. Why do I do it? It's a BUSINESS. I look at the risk and I charge what it's worth to accept that risk. If I lost a jet... "Meh"... I'll buy another. I wouldn't rent any of my (3) Whalers out either, nor my 42 Grand Banks trawler, or my Cessna 310m, or my Cessna 150. Why? I don't need to, they are my personal hobbies, and so there's no benefit to offset the risk.
Dave . |
deepwater |
posted 04-27-2014 12:57 AM ET (US)
srry,,even in the sorry shape my whaler is in,,its a NO |
saumon |
posted 04-27-2014 05:48 PM ET (US)
Powergroove803 said: As a Whaler group i believe we have good success showing off "our rides" to people who frequent this group, maybe a "when in town look me up" kind of network. Great idea. Even if I wouldn't in a million years rent my boat to a random careless user, I'd be more than willing to give a ride or maybe even lend my sweet 1991 Outrage 17, a not so common boat, to a fellow CW member. Like D. Sutton said it "participating here in the forum is a self selection into a different group", meaning "that take care of their boats well above the average Joe". If you happen to visit the Montreal, QC area, feel free to contact me! |
PeteB88 |
posted 04-28-2014 11:13 AM ET (US)
Maybe a pontoon boat - |
crow |
posted 05-07-2014 02:09 PM ET (US)
https://capecod.craigslist.org/boa/4410579443.html |
Ridge Runner |
posted 05-13-2014 10:07 PM ET (US)
Looks like Boston Whaler is private labeling their own rental program from Boatbound: https://boatbound.co/owners/boston-whaler?s=bc-whaler-intro |
Tom W Clark |
posted 05-14-2014 03:43 PM ET (US)
I may have been wrong about private owners offering up their own Whaler but I was certainly right about the demand for renting an old classic Whaler. Check out this beauty soon to be available: |
contender |
posted 05-14-2014 05:01 PM ET (US)
In todays time in our country, with eveyone trying to make a dollar with a law suit, And every lawyer looking to take your case, And no one taking blame for their actions, you would have to be an idiot to rent your boat out to anyone. Just look at some of the older post here on boats or just getting injured on the boat. The laywer goes after everything that had to do with the day of boating...The car company that towed the boat to the ramp, the trailer that carried the boat to the ramp, the life jacket company, the engine company, the boat company, YOU as the owner, and the guy on the dock who was just watching, and the sunglass company....Yeah go out and rent your boat.... |
ratherwhalering |
posted 05-15-2014 02:30 PM ET (US)
Indemnity and defense. Statutory liability. Some legal terms that can be intimidating, but also critical to the decision to rent your boat. I would hope anyone considering this program would consult a lawyer to review the insurance policies and rental agreements regarding their personal liability and exposure as the owner of a boat held out for rental. |
pandrewt |
posted 05-15-2014 09:56 PM ET (US)
For those interested, https://boatbound.co/?s=boatbound-email-md2014 has a 15% discount for bookings before 11:59PST on Sunday. Code is 15MDAY14 |
martyn1075 |
posted 05-17-2014 01:55 AM ET (US)
Here is one for rent. |
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