Sound Yachting
Sound Yachting

photos: Nicolas Claris

Charter Options - New England

Or "How to put $20,000 in your pocket"

CHARTER OPTIONS

NEW ENGLAND

Or "How to put $20,000 in your pocket"

There are two alternative charter options available to owners who keep their boats in New England - whether on a full-time basis or as part of our "Follow The Sun" Program (more details on this program here).

The two New England charter options, explained below, are differentiated by:

  • the degree to which the owner is happy to be involved in managing some aspects of the chartering
  • the financial returns they are looking for
  • the amount of personal use time they desire

With either option our owners have readily been able to generate $20,000 income from limited charter of their boats over the New England summer sailing season.

Full-time Charter Management

FULL-TIME CHARTER MANAGEMENT

For those owners looking to have their boats managed on their behalf, full-time, in an established and professional charter fleet we have partnered with Narragansett Sailing Charters.

While under the Narragansett Sailing Charters Management Program, all aspects of yacht chartering (including advertising, bookings, checkout, turnaround) are managed on behalf of the owner, along with all maintenance.

With the yacht dedicated full-time to chartering - which could extend to perhaps 10 weeks of the New England summer season - owner time aboard the yacht is necessarily restricted, but in return this turn-key charter management operation entirely removes the burden of the operational aspects of having a boat in charter and owner revenues are maximized.

A season that saw a 10-week utilization would not only cover all operational and charter-related costs but would generate real income above and beyond this.

Please contact us for details on how this program operates for you as an owner and for more detailed financial projections.

Limited Charters Managed By Ownwer

LIMITED CHARTERS MANAGED BY OWNER

As an alternative to placement in a full-time charter fleet, we have owners who have chosen to offer limited charter of their yachts for just a few weeks, managed directly themselves.

This route to chartering offers much greater personal use time and significant tax advantages to offset the costs of ownership - in addition to charter income - as the boat is essentially being operated as a business with the active participation of the owner.

The yacht charter revenue, together with business tax deductions available through "Section 179", substantially reduce the costs of yacht ownership.

An owner managing his own charters in New England (to satisfy the requirement for "active" vs "passive" management and thus offer greater tax advantages) would keep a much greater proportion of charter revenue, so that:

  • a single week of charter use would cover the cost of the slip or mooring for that season
  • a second week of charter would cover annual insurance and seasonal maintenance
  • and after a third week all regular expenses would be covered and income now weighted towards profit

All with the bulk of summer sailing time available for personal use or additional chartering.

Please contact us for additional information concerning owner charter management and to see charter income projections.