Renting Our Boat with Boatsetter.com
Вставка
- Опубліковано 31 тра 2023
- We take you on a journey with our first rental of our pontoon boat that we have listed on Boatsetter.com, and online boat rental and booking service that allows boat owners to make money in their spare time with their boats.
We head out early in the morning to deliver the boat to our first customer who booked it overnight for 2 days.
Link to our boat on Boatsetter:
www.boatsetter.com/boats/mvlg...
This is basically how many people purchase much larger boats. To make it work, you need a high income with high taxes, but they basically buy / finance a boat through an LLC, and charter it through a charter company. Everything can be written off against taxes. I know from talking with Galati that they have customers who have never even used their boats, they just buy them and run them as a business, often loss making.
What a super idea... if a person doesn't mind others using it. ...Bring in a little rental income, and viola the boat can be depreciated...and it's maintenance, upkeep, delivery trips, etc... deducted. We love this country... AND your videos! Thanks much for taking us along!
It’s a great way to make some extra cash. I don’t mind doing this with a small boat like a pontoon but anything larger I would want an experienced captain to take the helm.
This is big business up in the Destin/Fort Walton Beach area, both bare boat and captained charters. Lots of money being made!
I've stayed in Cape Coral and rented a boat. Loved it! I'm thinking of getting into rentals as a side business here in SC on lake Hartwell. Love the water!
Did you ever get into it? I'm thinking of renting my boat on Saluda Lake near Greenville
Still repping the Coinjock Marina shirt.... very nice!
Tom, in November we will be visiting family in Florida, and we hope to rent from you during our stay. Expect a call from us in a few months.
Thanks Matt!
Cool idea
I watch all of your videos. Especially like it when the first matey makes appearances. This one has peaked my interest. Will follow along seeing what each rental brings about. Always made me nervous letting anyone drive my boat. Curious how the renters boating knowledge / skill set is checked out.
Must be over 25 to rent the boat. So far no major issues. It’s a nice side gig for a retiree like me. Lol
This will eventually end in tears. Watch Qualified Captain.
Make sure it's well insured.
Boatsetter will actually will insure it during the rental if needed.
Now the Admiral will see this money coming in will want new shoes, nails done, manicures, beauty care appts.. Ahh she is worth it!
If the renter operates the boat is a boating safety course required? If so, does Florida have reciprocity with northern states?
If you are born before Jan 1 1988, you don’t need the safety card. Out of state training is accepted if it meets or exceeds floridas training requirements. (NASBLA approved)
What microphone are you using on a boat? Its great need to know
It’s some cheap Bluetooth mic. Not sure the brand.
How are you handling liability insurance? Does your current carrier allow running the boat as a business?
Yes. BoatUS/Geico actually referred me to Boatsetter.
Interesting. Do you need a captain's license (OUPV Six-Pack) to provide captained services of your boat?
If it is a bare boat charter no. If he is on the boat, YES!
I do have my Master Captains license but for plain rentals you don’t need one as long as I’m not aboard driving. I do offer my Captain services aboard and many have taken that option as well.
Just curious if you used the Geico Marine p2p Insurance or not. I hate that they want almost 35% for listing and insurance, do you use a local insurance provider?
I use my boatUS Geico policy. Boatsetter’s only takes 10% for the booking fee which is very fair.
@@AdventuresofHappyOursAwesome, thanks for that. And as far as liability/waivers, that is all done through boatsetters agreement?
Worst case someone dies on your vessel/loses a limb, would you be protected through boatsetter from a lawsuit or do you need to have waivers and documents drafted from a lawyer as well. this is my main concern
@Swellist you need to read the individual policies or consult attorneys. I have a charter endorsement on my vessels. I don’t rent them outright. Not sure the exact limits with Boatsetter but I think renters are on the hook for the first $5k or so of damage. There is supplemental insurance the renter can purchase as it’s required in florida for liveries.
Im guessing you got the pontoon for rental use? I don't think you would rent out happy hours?
We rent the pontoon but didn’t get it for that reason. It’s a nice side gig. I plan to charter out happy ours too.
I've watched the amount of pride you take in your boats. Must be a little tough to let someone with a just a credit card take the helm and you have no idea what they're doing to it. My wife wanted to charter our 59 Marquis out and just the thought of a stranger scratching up tables and dropping wine without a care, prevents me from doing it.
It’s a leap of faith. I chose the pontoon as it’s east maintenance, east to operate and very forgiving. We plan to charter our big boat Happy Ours to small groups but I’ll be aboard as captain and NORED WINE! Lol
Be aware the insurance policy on Boatsetter rentals has a $7,500 deductible PAYABLE BY THE RENTER. While safely operating our Boatsetter craft on Oct 4, we hit an unseen underwater object and damaged the hull. The depth-finder indicated we were in 18ft of water. This afternoon outing cost well over $8,000. Is this a risk you want to take??
Good morning, what type of deposit do you require for your rental?
The boat bookings are through Boatsetter.com They don’t require a deposit for rentals. Bookings are with a credit card.
@@AdventuresofHappyOurs Ok thanks so much
So how does your insurance co feel about renting it?
BoatUS/Geico were the ones who actually suggested I rent with Boatsetter. Before that, I never heard of them.
@@AdventuresofHappyOurs God forbid there is a fire, injury, death on board durng a rental. They will be coming after you big time for poor maintenance, faulty equipment, negligence, etc wether your fault or not. How are you insured against this? Geico peer to peer policy has a $7500 deductibve in case of loss. How much is the premium? This sounds like a lot of work just to break even not including wear and tear.
I rented a boat in FL once and could not believe the contract I had to sign taking personal liability for every possible thing!
I'm guessing boatsetter has a similar contract?
There is a bunch of checklist items that must be read and confirmed during the checkin process.
Depends on your boat and type of insurance. I opted for increasing my regular policy and adding charter endorsement. You can opt to be covered thru boatsetters peer to peer policy during the rental. They take a percentage of each booking fee to cover the insurance. I haven’t yet created an LLC to provide additional protection but that will likely be soon as it picks up. Every business takes work, costs and risks. As it’s now a business expense, I can write off and depreciate boat costs.
I thought BoatSetter rentals were for captained boats only. Didn't know you can rent a boat WITHOUT a caption/crew. Cool!!!
How did you get the background noise so quiet while recording yourself at the wheel? I didn't see a lapel mic on you. Nice hack, whatever you did.
You have the option for Captain or no Captain on many boats on Boatsetter. I have a noise cancelling microphone that I hide under my shirt. I did a review of it in a video a while back. (Link below) It’s ok, not top quality. But thanks!
ua-cam.com/video/ucz5XlBml28/v-deo.html
if you have to rent it out, you cant afford to own it.
You're assuming that he has to and doesn't just want to. It can be very lucrative when done properly. Winners make money at every turn.
Nonsense. It’s how businesses function.