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Why share?
Boat sharing is simple: You get to use a beautiful boat for a small portion of the cost of owning one. Someone even takes away the burden of doing the cleaning and knowing how to maintain the vessel. You get one hundred percent enjoyment.
Somewhat like a valet service, boat share helps you maximise your relaxation time and get the most out of being out on the water on a boat that is bigger than you might otherwise choose.
Be prepared
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When considering a boat share purchase, it’s important that you understand the basis upon which the share arrangement operates. Many are based upon equity ownership which generally gives better availability, others operate on a club style of arrangement where the boat share company owns the boats. There are benefits in both types.
Researching the details of your choices is very important before you make any form of commitment.
Some people choose to purchase the boat in full and then place it into a boat share or charter program. This is often the choice of people who don’t like to tie up substantial amounts of capital.
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Take advantage
The internet is a brilliant way of obtaining a host of information regarding the various boat share options available. Don’t forget to take advantage of boats available locally and ‘Open For Inspection’. There is nothing better than getting a first hand feel for how a boat is laid out and its suitability for your needs.
Boat share companies and Brokerages who offer boat share are a wealth of information regarding their chosen style of boat share system.
Remember to ‘compare apples with apples’ though!
Be ready to apply
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Similar to the purchase of a house or a complete boat, be ready to place your deposit to confirm your interest. Obtain a copy of the agreement and confirm that the services provided meet your expectations.
A good boat share arrangement offers dedicated management, a transparent structure and excellent support from a team of dedicated marine professionals. Many can also assist with finance of the initial capital investment.
05
Conduct a sea trial
A sea trial (test run) is your best opportunity to satisfy yourself that your new boat is as good as it appears to be. Check out all of the features that are advertised on the boat and have the skipper demonstrate where possible.
Often it is good to get a second opinion from another friend with plenty of boating knowledge, so take them along on your sea trial along with your family.
