“A boat is a hole in the water into which you dump money,” goes the proverb. In fact, yachting may be an expensive hobby, making it unaffordable for most people to own a yacht outright. To enjoy the open seas without making significant upfront costs, renting a boat could be an affordable option.
Bareboat contracts, crewed charters, and shared lease memberships are the three ways to charter a boat. These methods are all simple and widely available from charter firms that have optimized each procedure.
Charter a bareboat
A bareboat charter is a legal arrangement similar to car leasing in which the charterer (the person hiring the ship) is treated as the temporary owner of the vessel and accordingly takes on the duties of vessel ownership. Regular operating expenses including gasoline, port fees, crew wages, maintenance, and insurance are normally the charterer’s responsibility.
KEY TAKEAWAYSFor individuals who desire to travel the open seas but cannot afford the high price of yacht ownership, charters provide an option.
Bareboat, crewed, and shared lease charters are the three different categories of charters.
In a bareboat charter, the only amenities are provided, and the charterer also serves as the captain.
In a crewed charter, several vessel types—sport boats, fishing boats, and superyachts—as well as a fully functional crew are supplied.
In a shared lease, the lessee is responsible for paying costs and has access to a variety of ships.
In a bareboat contract, the charterer is also in responsibility of steering, navigating, and anchoring the boat. The boat must be returned in excellent condition at the end of the charter period, or money will be taken from any bonds paid.
Companies may have different bareboat contract terms. As the term suggests, some businesses simply offer the “bare” essentials, like safety gear and tools. Other vacationer-focused chartering businesses can offer amenities like food, linens, fishing gear, and personal products.
Charter with crew
In a crewed charter, the lessee rents the vessel for a specific voyage, during which the chartering business covers the crew fees as well as additional costs like food, gasoline, and port fees. Most significantly, a skilled crew takes care of any potential problems, which is quite useful in foreign ports.
The United States is home to a large number of crewed chartering businesses that provide a wide range of boat types, including small boats, superyachts, sport fishing boats, motorboats, and vintage America’s Cup-winning yachts.
Members of shared leases have unlimited access to the whole fleet of boats, allowing them to test-drive various boats without committing to any one in particular. Commonly, lease shares are offered for a season at an all-inclusive price. You may easily enjoy sailing because the chartering club takes care of all boat maintenance, insurance, and problems. However, you might not always be able to get the boat you want when you need it, which could derail your plans to sail to your own private island.
How to Execute
- Consider the boat. What kind of ship will best suit your needs? Will it support your planned activities, such as fishing and festivals, and accommodate your passengers? The charter service can help you choose the perfect boating option once you’ve determined your demands.
- Bear your budget in mind. If you’re thinking about a bareboat charter, be sure to have enough money on hand to pay the full rental cost, the bond, and any required insurance costs in advance. Make sure you have the money to employ a qualified captain and crew if you are not qualified to command the ship.
- Examine your credentials. Explore the various criteria imposed by various ports of call if you want complete independence, especially if you intend to travel outside of US territorial seas. You must weigh a variety of certificates before deciding on your chosen course of action.
For instance, additional clearances could be needed for the animals to depart the yacht if you plan to bring pets on board. Prepare to provide proof of credentials, including visas, international competency certifications, and local cruising licenses, if you plan to scuba dive. An extensive list of the documentation needed both domestically and internationally can be found on the website Noonsite. A list of certifications and documentation serving as proof of competency is also available on the website of the American Sailing Association.
- Review your credit report. You will often need a clean credit report in order to be approved to charter expensive yachts.
- Examine the track record of your chartering company. Make sure the service levels will exceed your expectations when organizing a crewed charter, especially if you want to impress clients or friends. A list of reliable businesses, brokers, services, and sailing destinations is available from Cruising World. CharterWorld, YachtWorldCharters, Boatbookings, and The Moorings are more excellent charter websites.
Boat clubs, crewed charters, and bareboat agreements can all help boaters avoid financial and administrative hassles. But first, have a clear understanding of your boating needs. To help you on your adventure, there are a ton of websites, chartering services, and management firms.