Charter boat investment is a win-win situation.
When you buy a monohull or catamaran and place it with a charter company, you enjoy a financial return on your investment while it’s professionally managed & maintained. At the same time, your boat remains available for personal use.
Read on to learn more about owning the lifestyle and adventure of bareboat ownership in the Whitsundays.
If you want to discuss charter boat investment further, please contact our director Jim Korosec.
How does bareboat charter investment work?
Placing your boat into a bareboat charter company is simple
- Firstly, you need to select a bareboat charter company you can trust. Look at their reputation and ensure you have open, honest communication with the director. Bigger isn’t necessarily better. Often a better choice is a boutique-style operation that offers high-quality, personalised service to its owners. This is certainly the case with Whitsunday Rent A Yacht.
- It’s a good idea to discuss the type of boat you want to purchase with your charter company. There will be suggestions on the most popular vessels and choices you can make to maximise your return. Whitsunday Rent a Yacht maintains relationships with industry brokers to assist your search.
- Decide and agree on contract terms.
- Take care of transport logistics and prepare the vessel to industry standards so it can be hired as a bareboat.
When the boat is ready for charter:
- The charter company will take professional photos and market the boat
- Bookings will open up and be managed by the charter company
- The boat will be professionally maintained and cleaned
- The owner will receive income and maintenance statements
- At Whitsunday Rent a Yacht, charter income is paid to the investor monthly.
What are the benefits of charter boat investment?
Charter boat investment is about lifestyle and adventure.
It’s an opportunity to finally own that boat you’ve always dreamed of while having it work for you when you’re not using it.
Professional care & keeping your boat “ship shape”
Placing a yacht with a reputable charter company such as Whitsunday Rent a Yacht ensures your investment receives professional maintenance, service and care.
Frequent cosmetic and mechanical maintenance that chartering requires can extend the life of your vessel and preserve its resale value.
Reduced operational costs & additional income
A bareboat charter company will cover a significant portion of a boats operating expenses, such as dockage, insurance, and other incidentals.
Charter yacht ownership produces an income that you otherwise, as a private owner, wouldn’t have, providing a return on an amazing lifestyle choice.
Offset your expenses
Owning a charter yacht means you can not only offset your expenses, but you can also generate a profit.
Charter boat income is taxable, but all costs associated with owning the boat are deductible. Refer to the ATO website.
Maintain the value of your yacht
If your boat has been successfully run for charter, it will attract both charter guests and potential buyers in the future.
Chartering is a strategy for maintaining your boat’s value which would otherwise depreciate with time.
You can enjoy a concierge service when you’re ready to sail around the Whitsundays. There is no need to spend precious “holiday time” cleaning, maintenance or repairs. Picture yourself flying into the Whitsundays, where your fully cleaned and well-maintained boat awaits your arrival at the Harbour.
Are there any disadvantages to owning a charter boat?
The initial financial outlay can be more than a private boat.
Boats hired out as bareboats need preparation for commercial use, such as:
- Equipment required to meet AMSA survey standards
- Equipment required to meet charter requirements and standards
- Certification & professional fees to ready the vessel for charter
You won’t have 24/7 access to your boat
Your boat can be booked up to 18 months in advance. You won’t always be able to make spontaneous sailing trips around the Whitsundays.
Bookings and your boat’s calendar will need to be considered in advance. However, short notice owner bookings can be made where availability allows.
Is owning a charter boat profitable?
Owning a charter boat can be profitable; however, the boat’s purchase price is rarely covered.
Opportunities to earn a profit include:
- Offsetting the costs of owning a yacht
- Selling your yacht for a profit
- The right vessel can potentially make a profit from charters (there are no guarantees due to many variables such as tourism trends)
In Australia, refer to the ATO website when considering purchasing a boat for operation as a charter boat.
Why Partner with Whitsunday Rent a Yacht
The Whitsunday Islands and Great Barrier Reef Marine Park is on our doorstep
- The Whitsundays are a world-class sailing destination. Scattered with 74 tropical islands, secluded bays, coral reefs and access to several island resorts, you’ll never tire of things to do and new adventures in the Whitsundays.
- Boat owners can take their boats outside the charter limits set for bareboat visitors. We have many Whitsunday Rent a Yacht investors who enjoy taking their boats to the Outer Great Barrier Reef.
Shute Harbour and exclusive jetty
- Whitsunday Rent a Yacht’s location in Shute Harbour sets us apart from other bareboat charter companies. We operate from our private facilities, including our exclusive jetty.
- Our location means we are much closer to the Islands than operators in Airlie Beach. It’s only an hour to the first overnight anchorage from Shute. This is a significant advantage for guests and, of course, boat owners.
- Our private facilities include a pontoon, reception office, moorings, workshop, haul-out yard and slipway, making maintenance simple, cost-effective and quick to turn around.
Maintenance and Slipway
- We strive to provide our owners with the best possible value and efficiency when it comes to needing outside contractors or services for boat maintenance. This is helped due to WRAY’s experience and relationships with various contractors and suppliers.
- Each time a boat goes out on charter, our team do a complete mechanical and structural check ensuring cost-effective maintenance management.
Dedicated professional staff
- Our staff are a dedicated team passionate about ensuring guests have a memorable and safe experience sailing the Whitsundays.
- Many of the people who work at Whitsunday Rent a Yacht live locally and are enthusiastic about sailing and boats. They are experienced operators meaning your boat and our guests are in good hands.
- Customer service is a massive part of our culture. Ensuring guests have a first-class experience sailing on the boats in our fleet is our priority.
- Our marketing and communications team work prominently in the digital space reaching Australian and international audiences while partnering with leading tourism bodies. Marketing isn’t charged to boat owners. If your boat needs bookings, we will do our best to fill them.
- Don’t just take our word for it. Check out our reviews on Trip Advisor and Facebook.
Trustworthy with open lines of communication & agreements
- We keep lines of communication transparent and honest with all of our boat owners, producing monthly income reports and other documentation.
- Our simple Yacht Management Agreement is a collaborative document that sets out the agreed rules surrounding arrangements between Boat Owner and the Operator.
- Whitsunday Rent a Yacht’s Managing Director Jim Korosec is a significant shareholder in the company and is dedicated to maintaining an authentic relationship with our boat owners.
Charter boat investment is a way to guarantee that your yacht is in top shape for when you decide to set sail around the World Class Whitsundays.
Purchasing a yacht or catamaran which will be professionally managed and generate an income while still being used for personal holidays is an ideal lifestyle choice. A lifestyle choice that works for you.
If charter boat investment is something you would like to discuss, please contact us via our website or call 07) 4946 9232.
Thanks for reading!
