Boat sharing income lowers cost of ownership

Don’t know how to spend all that boat sharing income? We’ve got tips!

Boatsetter Team
Written by Boatsetter Team
December 6, 2017

Boat ownership is a lifelong dream for most boaters, but it is not without its costs. Boat sharing, along the same lines as residence sharing offered by AirBnB, is a great new way for boat owners to pay for the costs of ownership and truly get more out of the entire boat ownership experience.

How to Spend your Boat Sharing Income

  1. Boat Upgrades – So, you’ve bankrolled some serious money with your boat sharing efforts, as the boat charters get booked and the deposits are made to your bottom line. The most obvious place to put that stock pile of money is back into your boat. There are always a few upgrades to consider from technical systems of your boat including audio systems, fish finders, underwater lights to replacement of your weathered fishing chair, bimini top, boat safety or emergency equipment.
  2. Toys – Your boat sharing earnings are also well-spent on something very important…more fun on your boat! There can never be enough toys available to contribute to your own enjoyment of your boat. Maybe you’ve wanted to add a jet ski, water skis or diving gear to the mix, your boat sharing charter income is a great way to up the ante on the toy inventory.
  3. Buy a New Boat – Okay, okay, it may take a while to get to the point where your boat charter pays for your next boat but the incremental savings can certainly contribute to your next big thing. Start shopping and daydreaming…a new boat may be in your near future.
  4. Pay for your Dockage – The cost of dockage or storage for your boat is not decreasing. In fact, boat owners are lucky if the dockage fees remain the same but even in that scenario, costs still tend to compound.
  5. Routine Maintenance – From annual haul outs to engine service to running gear or prop adjustments – routine maintenance is key to keeping your boat in great working order. The costs of labor associated with said routine maintenance can be offset in part or their entirety with the steady stream of income received from boat rentals through the boat sharing platform.
  6. More Boating Time – One of the highest costs of using your boat is fuel. A full day cruising from dockside restaurants and to the best destinations to snorkel around town can burn some serious fuel. Want to get out on the water more and alleviate the pain of paying for gas? Use your boat sharing charter income and spend more time doing what you love…boating.
  7. Trip to Bora Bora – Bora Bora, the Great Barrier Reef or a trip to home to see your mom…whatever your travel bucket list entails. Us boaters – we love to travel and what a better way to enjoy boat ownership more? Let your boat pay for your travel!

Boat sharing is the new way for boat owners to easily charter their boats and earn serious boat sharing income that can be used to offset the costs of ownership (or buy that new fishing rod you’ve been daydreaming about). The leading boat sharing companies will coordinate quality insurance that will cover the entire value of the boat as well as allow the boat owner to require a captain be present on all charters.

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