Are you looking at investing in a yacht to put under charter management? Make sure you cover the basics and more before you spend your money!
Have you got the answers to the following questions?
Some will say that there will be no retun on investment, others will say it pays well... You are rightfully cautious. So what's the trick?
You have to know about quite a few things before you dive in the adventure, to make sure it does not end up costing you, that you manage at least to cover expenses... and hopefully make extra money!
That's where our Caribbean charter expertise comes into play.
Of course there are not set calendar dates for the Caribbean charter season. Let's say that it goes roughly from early November to June.
If you would like to haul out and store your boat on the hard outside the season, make sure that you book a shipyard early as they will go busy and many might be fully booked!
Make sure you agree with your charter management or charter booking company early on this point.
Usually you can use your boat and set dates before the calendar is made public and shared with charter brokers. However you will of course think about maximising your potential earnings by having the boat available for charter at the busiest moments.
Most of the time, your own taste and budget will dictate the choice. However it really is important to make sure the model is demanded, and that there aren't too many competitors with the same one.
We will be able to tell you what bookings a boat makes in average, although of course this also depends on where the boat is and the rental price.
What island should you keep your yacht in? Going to a Caribbean island or another might be an important choice for you, depending on airlines maybe or other reasons.
There are other reasons why we would advise on certain companies: because they are trustworthy, because they make a lot of efforts and investments into marketing their activity, because their staff is very helpful, because you might appreciate their family business spirit...
In any case, if you are going to invest in a new yacht to rent out, make sure that the dealer will actually help with After Sales Service! We are the Exclusive Caribbean dealer for the North Caribbean for Fountaine Pajot catamarans and Neel Trimarans, and as such we are here to help you out with after sales issues.
We have over 10 years of experience in charter invstment and chart bookings, to help you choose the best in the Caribbean.
The charter management company and charter booking companies will work their magic for you. That's why it is important to choose proactive ones.
You might also want to work on it yourself and invest in some webmarketing, to have direct bookings and avoid commissions. For some it could even be part of the fun!
There are good and bad points for each one and you will have to make a choice.
The maintenance cost could depend on many things: charter base, island, specialists, items and procedures, whethere there is crew or not.
However it is important ot make some financial projections and have an idea of average maintenance cost. We will help you budget these, to have better visibility on your return on your potential profit.
Many charter companies will not kee a yacht that is over 5 years or so, but it depends on companies, on the yacht maintenance, on the model and demand.
Check out with us what you could hope for.
Charter management companies will usually offer their specialist insurer, which is usually the best choice. Check out with us what options there are.
Caribbean Multihulls director Peter Cohen has over 20 years of experience in the Multihulls field in the Caribbean and the Pacific. Both his partners Dominique and Derek have been in the charter business for decades in the Caribbean!
Whether with sailing catamarans or trimarans, or with motor yachts, we have valuable information from years and years of experience.