Frequently Asked Questions
I have owned my own small boat previously and would find it difficult to share. How can I be convinced that this is the way to go?
Well firstly, boat sharing does not appeal to everyone and we fully respect that. Like most things in life though, it is about compromises and choices. On average, boat owners typically use their vessel for about 25 days a year and have to support 100% of the capital and ongoing costs. In addition, there is the time spent and worry which comes with managing the asset. With our boat share syndication and management scheme you can literally own a very expensive, luxurious boat for 10% of the cost and have access to your vessel for at least 33 days a year, plus standby days.
Who actually owns the boat?
You and your fellow owners!
How many owners are there?
Each boat has a maximum of 10 and a minimum of 4 participating in each syndication.
How many days am I entitled to on my boat?
We provide an equitable system that allows each owner a minimum of 33 days a year. This doesn’t include standby days, which give you flexibility to enjoy more luxury boating time when your vessel hasn’t been booked one day prior to your reservation or one day after.
How do I book my boating time?
Once you are a member, you will be provided access to our secure online booking system which enables you to conveniently and easily manage your boating time as, and when you need, 365 days a year.
Are there any rules or restrictions I should be aware of?
Your personal safety and compliance with the Maritime Laws are paramount. Assuming you already have a boat licence, we provide you mandatory training to ensure you are comfortable and confident before heading out. If you do not have a boat licence, we can arrange this for you. Rules and restrictions on using the boat form part of the contract and are made available upon submission of an Expression of Interest Form.
What is not included in the ongoing costs?
Fuel and any costs of repairs due to damage or negligence that cannot be recovered through the insurance policy.
How long do I need to participate for?
Typically, syndication terms run for 3 years; however, we understand that you may decide to sell your share before the end of the contract term. We also understand that you may want to upgrade to a larger boat midway through your contract term. Whatever the reasons, we can facilitate the process for you.
I’m interested, what do I now?