There’s a reason why they say the two happiest days in a boat owner’s life is the day he buys his boat and the day he sells it. Owning a boat is expensive. Boat payments, storage fees, sanitation requirements, fuel, general maintenance and repairs these costs can quickly sink dreams and empty pockets. That is why boaters no longer have to suffer financial burden from owning a boat. The concept is very simple, when a boat owner is not using his or her boat they can make money renting it as dockside accommodations to leisure or business travellers. Thus, Renting out your property while it is not in use is an increasingly popular idea. People rent out rooms, homes, and even their vehicles now.

Some things to keep in mind when renting your boat

If you are working with a person to person company, read this to make sure you are prepared for the company to take a cut of your profits. Vetting your renters by asking them anything you want to know. Make sure you know what average to charge is. You don’t want to be undercharging your boat and be selling yourself short. Make sure you check for damage. Like a rental company, you would benefit from taking notice of what the boat looks like before and after so you can know if there was any damage. Consider a contract or deposit for your renters. Know that as your boat ages; you will make less money renting it out with increased use, high engine hours, and wear and tear. Renting out your boat can be a great way to make money when you are not using it. This can help offset the cost of maintenance, slip fees, and other necessary expenses. Besides, there are many things to consider before you rent out your boat but with the proper preparation and by sticking to the tips above, you can have a great rental experience out on the water.