sell it or rent it???

[OC-PARTYCAT]

I cant get rid of my partycat so I was thinkin f... it. Ill start renting it out. How about 400 per day plus 50 p/hr what do you guys think...
I probably would rather rent a high end boat a couple times a year and average 500 a day. Instead of owning one and using it a couple times a year averaging 1,500 per day???

[WaTchTheGelCoat]

Renting it sounds like a good idea. However you might not rent it enough to justify the expense of the boat.

[waterwitch]

Rent it! They get $ 400 for 6 hours
and the boats are crappy! You would
do well with a little advertising.
Just a thought :D

[OC-PARTYCAT]

50 an hour seems pretty good to me.
If you drive it for 4 hours thats only 200 bucks..how many people actually put 4 hours a day on their boat? not many.
just the stereo is worth the 400 a day

[uvindex]

I cant get rid of my partycat so I was thinkin f... it. Ill start renting it out. How about 400 per day plus 50 p/hr what do you guys think...
I probably would rather rent a high end boat a couple times a year and average 500 a day. Instead of owning one and using it a couple times a year averaging 1,500 per day???My advice: Don't forget to check on INSURANCE costs before you make your decision. I can pretty much guarantee that your current insurance doesn't cover you if you rent your boat out -- if you rent your beautiful boat to some drunken idiot (and sometimes you can't tell by looking at someone if they're going to become a drunken idiot :)) who kills someone then you will be liable. Good luck! :)

[welk2party]

My advice: Don't forget to check on INSURANCE costs before you make your decision. I can pretty much guarantee that your current insurance doesn't cover you if you rent your boat out -- if you rent your beautiful boat to some drunken idiot (and sometimes you can't tell by looking at someone if they're going to become a drunken idiot :)) who kills someone then you will be liable. Good luck! :)
My best friend used to rent boats for a living. There is NO insurance available that adequately protects you. Your boat WILL come back abused and broken virtually EVERY time. All I can say is, "Drive it like you rent it!".

[OC-PARTYCAT]

yea, I was thinking about the insurance thing. Im pretty sure the person that rents it can get a binder from their company. It would probably take em an hour to sign my 500 page contract too.

[shaffewm]

We used to rent our mobile out at Havasu Landing and it seemed to me that most people who rent stuff treat it like a hotel room....not my problem type attitude. I think you would get a few good renters and a majority of people who don't give a .... about your stuff...good luck either way....

[BADBLOWN572]

I think it is a great idea, but I would never let my boat out. I think that too many problems would arrise. Dock Rash, ding drive/prop, torn upholstry, etc... It is very rare for someone to take as good or better care of someone else's property. I don't think that someone is going to give a $30k security deposit before they take it out. One oops and your $400 + use would be gone! Look at rental jet skis. They are usually only good for 1 maybe 2 seasons then they are thrashed. Insurance would also be a killer too. Now it would have to be commercial insurance to cover the boat and passengers. Personally, if it is not going to be a major business, I would not do it. I also would not do it with anything that is worth significant monetary value. Too much headache in my opinion. Just my .02
Also, just FYI, they might be able to provide insurance for use/liability on the boat, but what would scare the hell out of me would be mechanical failure, fire, sinking, etc... None of that would be covered by their insurance. If something like that happened, you can be assured that a major law suit would follow immediately and be a nightmare.

[OC-PARTYCAT]

your right. there are so many factors involved and it would just be a big headache. Even the most experienced boaters get scratches etc... It would probably kill me to see it come back with a scratch on it. The day I dont give a shit about the boat, is the day Ill rent it out. I dont think that will be anytime soon.

[Krumbsnatcher]

Since,
You are a business you will need to have product liablility insurance, even though you are not creating a product directly. Your service is one that opens up any accident to a lawyers feeding frenzy unless you have a strong liability insurance.
Think about it you rent to tom who lets joe drive, tom trusts joe but joe drinks too much and lets pete drive.
Pete crashes into a family of 4 kills 1 and injures 2, who' s liable.
You are! you entrusted the boat without any knowledge of their usage, any court will end up putting the ending responsiblity on you. Now you will have to sue the renter for the damages.
Not worth it, unless you lend it to a rental agency as as a hourly charge and let them make a buck in the process. Even then have a lawyer check your contract and be sure you would not be liable for any actions that your boat may be involved in. Such as a crime, etc..
Oh, by the way if your boat is involved in a crime, in now becomes evidence and your rental season is shot anyway.
Sorry to sound so negative, but the risks are much too great, even if you entitle the rental under a separtate corporation.
just 02.

[Spotondl]

Get a captains license or hire a licensed captain and then rent out the boat, with you or your hired gun as captain, as a package deal.... Bachelor parties, Bachelorette parties, vacation parties, etc. etc. etc.... Insurance will still be an issue but you will have control of the operation of the boat...
Charge per person like fishing boats do... $500 - 600/person for holiday weekends... could be an easy $3000 with 5 or 6 party goers...

[HighRoller]

Dammit Rich, you beat me to it. I was thinking Parker River Taxi on Friday and Saturday nights.

[Jordy]

My best friend used to rent boats for a living. There is NO insurance available that adequately protects you. Your boat WILL come back abused and broken virtually EVERY time. All I can say is, "Drive it like you rent it!".
Couldn't have said it better myself. Spend some time looking at the rental boats at any given location. Dock rash, trashed interior, cracks, beach marks. I wouldn't loan my boats to anyone I know, much less rent them to someone I don't. Think of it like a rental car. They never get abused. :D

[RiverOtter]

The insurance would kill ya. You'd have to have a fleet of cheap boats to make it work. Insurance for "risky" businesses usually has a high minimum premium and doesn't cover much. JMPO :cool:

[BoatPI]

I am about 100% sure your insurance carrier would not cover any loss.