Logo
FULL SITE MENU

Renting my boat

J

jafma

New member
Hope this is not too off-topic

Hope this is not too off-topic.
I will be away this summer and am thinking of renting my boat to a friend of a friend.
What should I do about potential maintenance issues?
Insurance?
Can anyone refer me to a simple generic contract?
Thanks
 
Spend the money on an attorney

Spend the money on an attorney for a contract. Renter shall provide min. insurance coverage to replace the boat. You are no longer friends when you enter into a business arrangement!
 
"There are three things a man

"There are three things a man should not "share"(rent or loan)
WIFE, BOAT, AND MOTORCYCLE

This is mt .02 worth
L8R allan"
 
"Ayuh,.....

I Totally Agree

"Ayuh,.....

I Totally Agree with Allan,.....

You're setting yourself up for Major Losses....
as in friends,+ Money......"
 
dont do it!!! People will not

dont do it!!! People will not take care of something that is not their's like they would if was there own...

never lone out your wife or boat!!
 
"Yeah - I know, I know - I&#39

"Yeah - I know, I know - I'm worried about the whole thing. Also complicated by the fact that I'm going to be 8000 miles away for the whole rental period.
In favor of the rental is that I want to sell the boat anyway, and the rental income for the 4 months will be almost as much as my minimum selling price - perhaps a little more.
And yes, I know that too - I should just sell them the boat - but they don't want to 'own' a boat."
 
"Well then, get some security

"Well then, get some security deposit money, cash or certified cashier's check, for the full value of the boat and all of the rent money for it up front. That will help them take care of it plus you can keep part of the security deposit if it gets damaged. Then you can relax 8,000 miles away. Make sure your insurance policy covers your renting it.
sun.gif
"
 
"Ayuh,......

The Full Renta

"Ayuh,......

The Full Rental,+ a Deposit equaling it, up front, would make the deal Alittle more palatable,....

But Only as long as You are Not liable for Repairs during the agreement......"
 
"Sell it, sink it or store it.

"Sell it, sink it or store it. It is a boat/material thing. The fact that you are already feeling stress and the deal is not even done tells me that it is not worth the hassle. Life is too short and you can always get another boat but truely good relationships are priceless. Just speaking from experience. Good luck and enjoy life and your freind without the boat.

Jeff"
 
"Does the second generation fr

"Does the second generation friend know what it takes to maintain a boat? Have they ever taken a boater safety course? Do they have a DUI (or several)? Do they own their house?

If you like your boat, I wouldn't recommend renting it to anyone. There's no telling what kind of problems you'll have down the line."
 
"If the rental income equals t

"If the rental income equals the selling price, get the money up front and if there is a boat when you get back, great..if it's gone, who cares. get them to sign something saying you are free and clear of any liability and make them show proof of insurance."
 
"I dont have a boat anyone wou

"I dont have a boat anyone would want to rent, but i'd never do it. Your name is on the title, so if they bean the thing into a 300' yacht at 40 mph you *will* get screwed even if they insure it. Insurance only covers so much and when you exceed your coverage limits you can be held liable for the rest. At that point i don't even think the insurance company attorney will represent you. IMO, too much risk there. As Jeff said; sell it, sink it, or store it, and hide the key."
 
"You need to contact a marine

"You need to contact a marine lawer. Pose your /these questions and follow his/her advice. Marine liability is NOT THE SAME AS AUTO LIABILITY, THE RULES ARE DIFFERENT. If someone is injured in a boat under your name you may be responsible for the costs and legal action that may be held against you. THREAD CAREFULLY IN THESE WATERS!"
 
"The only thing I will rent ou

"The only thing I will rent out is my beer fridge on the understanding that it comes back full.

This would want to be some sort of friend to want to rent him the boat, having said that though, if you are happy to rent it to him with a high level of confidence and can gain a level of insurance that well and truely covers you for total loss, why not.
Cheers
Peter C"
 
Back
Top