Charter Management Programs: Worry-Free Yacht Ownership...or is it?
Charter companies lure prospective boat buyers into yacht charter management programs touting them as the most cost effective way to own the yacht of your dreams without worrying about the hassles and expenses of traditional yacht ownership. Well, we have tested this theory. We have personally owned several yachts in these charter programs, we have done the research, collected the data and have now made all this information available to you.
The purchase of a charter yacht is usually second only to buying a house in terms of cost. Yet prospective buyers spend on average far more time researching their home purchase than they do for a yacht. Catamaran Guru™’s experts offer consulting services to get to know you personally and learn which solutions are best suited for you and your family’s desired lifestyle. With this information you can make an informed decision, avoid costly mistakes, plan your exit strategy and get the most enjoyment from owning your yacht.
Through our affiliation with various other charter companies in the US, Caribbean, and Bahamas, we are able to offer a tailored selection from several different charter programs and a wide variety of yachts from the world’s greatest shipyards. We offer you models from Lagoon, Fountaine Pajot, Bali, Nautitech, Catana, and many more. No cookie-cutter programs here!
We give you the tools to make the right choices!
Your Charter Management Program.
Your Catamaran. Your Choice.
Is Buying A Charter Yacht For You?
Preliminary “Soul Searching”: You and your family and/or friends have done some chartering and love it! You’ve been dreaming for years about getting your own yacht in the Caribbean or Bahamas or some exotic location, you’ve checked your finances and you are ready to “take the plunge” but how should you go about this? There are six major issues to investigate before you make this decision. We analyze below. Discover if buying a charter yacht is for you.
Charter Management Programs Explained
Placing a yacht into charter management is a good way to reduce the cost of the boat and also offset the cost of ownership. There are different types of management programs offered by the charter industry. We analyze and explain here the different options to ensure a good understanding for boat owners of what yacht charter management really entails.
In this article, we explain how the two most popular programs, Guaranteed Income Program and Performance or Income Sharing Charter Programs, are set up and the pros and cons are of each program. We help you understand the nitty gritty of these programs and the all-important exit strategy!
- Yacht Charter Management Programs Explained
- Yacht Ownership Programs in a Nutshell
- Yacht Charter Management Programs Overview
Pros & Cons of Charter Management
The one question we get a lot is: “Should I buy a new boat and place it into yacht charter management or buy a 5-year old boat that was phased out of charter management when I am ready to go cruising”. That is a fair question and we have answered with a full article about the pros and cons of pros and cons of yacht charter management.
How Buy A Charter Yacht
The buying process often seems like a daunting task to first-time boat buyers with so many parties involved, documents to generate, and decisions to make. We have compiled an easy-to-follow timeline checklist to help you make this a smooth transaction. Once you have decided on the yacht and charter yacht management company, choose an experienced yacht broker to help you navigate the process and keep this checklist handy for your own peace of mind. Find the yacht buyer’s checklist in our 10 steps for a smooth process.
Charter Yacht Management Contract Issues
Our experience as charter boat owners in charter fleets has shown some areas in the management of your yacht that are important to all of us, regardless of the charter company. These 6 major issues in the contract should be addressed before you make any decisions: Level of maintenance, builder / manufacturer warranty issues, insurance, hurricane plan, the sale of owner time and yacht phase-out procedure. Discuss your options and know the consequences of your decisions. Learn more about charter yacht management contract issues.
End of Program: Yacht Phase-Out & Checklist
This article is mostly geared toward boat owners who have placed a new yacht in a large charter company, like Dream Yacht Charter, Moorings, Horizon, or Sunsail. So, you’re almost reaching the end of your Management Contract with your Charter Company and you have decided to keep your boat, either for your personal use or to place her in the hands of a yacht broker to sell her. We have put together a list of procedures of how to manage the phase-out of your yacht. Know that the majority of owners who follow this procedure properly are handed a boat in very decent shape. So assuming you have negotiated adequate provisions in your Management Contract, if you follow our guidelines, you should be in good shape. Here’s our End of Program: Yacht Phase-Out & Checklist
Bareboat vs. Crewed Yacht Ownership
A bareboat is a vessel that is chartered with with you and your guests as the “crew”. The charterers are entirely in charge of the yacht, including provisioning, for the duration of the cruise. A crewed yacht operates with a professional live-aboard crew, usually a skipper and a cook or chef, usually a couple. Typically, a crewed yacht has many more creature comforts than an equivalent bareboat. We define the main pros and cons of each option, both being in the configuration of a managed charter fleet and within a range of 45 to 70 ft. boats. In this article about bareboat vs. crewed yacht ownership, we do not debate ownership of a privately managed crewed vessel.