Boat Rental v.s. Boat Ownership

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What's Economically Smarter? Owning a Boat or Renting?

There’s a lot of talk out on the water amongst boat owners and boat renters alike over what the best options are for those that love spending their days off the land. While both options have their benefits, they are a bit different and one option comes with much more responsibility than the other. As the leading boat rental marketplace in the world, we’ve worked hand-in-hand to connect our thousands of boat owners with renters and even captains from Miami all the way to Thailand and know firsthand what it takes to own or rent the boat of your dreams. That’s why we’ve provided this in-depth guide on the difference between the two and how you can use Boatsetter to your advantage each step of the way.

Owning a boat can be expensive but it doesn’t have to be

With new boat purchases ranging anywhere from $25,000 to 50 million, owning a boat can definitely be an expensive endeavor. However, with Boatsetter, you can join in on the boat sharing economy. Whether you’re boat sharing in Florida or Italy, that means no more leaving your boat in the marina for most of the year, paying those docking fees while no one is even using the boat. Now, you can rent the boat out when it’s not in use to other renters looking to take out a boat for half a day or even a week! You can captain the boat yourself and earn extra money or find a captain in the area to guide the boat through our online platform.

The cost of maintaining your boat can be heavy for any boat owner

While the cost of maintaining a boat is dependent on several factors such as the make and model of the boat and where the boat is docked, a good rule of thumb is to expect to pay at least 10% annually of the boats total value in additional costs. And realistically, this is on the low end. Fortunately, you can offset the cost of owning a boat by finding a boat for sale on Boatsetter. That is, you can look for used boats that might be of interest to you and meet with the owner. You can even take the boat out for a test drive to see if it packs the punch and delivers on your expectations.

Boat rental v.s. boat ownership, the debate ensues

At the end of the day, it’s really up to the individual on whether they prefer to completely own their own boat, whether they want to rent their boat out, or whether they would just simply rent a boat from another boat owner for less frequent use. In regard to how much does it cost to rent a boat, you can rent anything from sailboat rentals to center consoles for everything from a few hundred dollars to thousands of dollars, depending on the period of the rental and model of the boat. All in all, all parties can benefit from Boatsetter’s online marketplace and there’s never been a better time to make the most of your boat or your boat rental than 2019 when the skies are blue and the waters fresh!

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