moorings ownership pitfalls

• Would you consider the roominess and stability of a catamaran — great for young kids — or are you a hardcore monohull sailor? • The northern Caribbean offers an almost unlimited diversity of cruising grounds and anchorages in a relatively small area. No matter how you want to own a yacht-- there is a type of ownership for anyone. Some bases are more popular than others. For example, catamarans are becoming the workhorse of the Caribbean charter fleet. Our annual guide to vacationing on the water. Question 1: Do I intend to keep the boat and take her home at the end of the charter management contract (usually four to six years), or will I likely roll over to a new boat with the same charter company? As with any large expenditure, you must do some significant homework beforehand. If you want to know what our owners are saying about us, you can read it all here! First of all, congratulations. Topics 30,519. Register Log In TravelTalkOnline Forums British Virgin Islands moorings ownership program: Portal Forums Birthdays Active Threads Forum Help: Forum Statistics: Forums 39. Contact several charter companies and start getting a feel for the real thing. The season of giving thanks is among us. Ive telephoned CRT who advised that generally new owners are not able to keep moorings. At the end of the ownership program, you might wish to keep your yacht for personal cruising or living aboard, but The Moorings offers other options, as well. The luxury extends inside with modern finishes, a These companies typically have fleets of around 20 to 60 boats, maintain a close relationship with owners, and provide excellent customer service. Home › Yacht Ownership. And they might offer to help you sell the boat through their brokerage. Now you are dreaming of buying your own charter yacht. A valid e-mail address. (Sunsail even offers exchanges with its land-based resorts — a huge benefit.). Boating Tips, Kennys 83. This is a fatal mistake. Zanshin 76. It has attracted my interest a few times. • The boat will be partly paid for by charter income after five years of enjoyment (the typical length of a management contract). > > What about a Moorings type ownership? If you answer no, that’s not good. Although just a short flight from the States, you feel a world away from the commotion of South Florida. And your financial projections always remain hypothetical. The Moorings takes delivery of the first M3800 catamaran while the Moorings 4500 is named “Best Charter Boat” by Cruising World Magazine. • Selling a used charter boat at the end of the management contract may be a long, frustrating experience. TomB 79. The latest in a long line of groundbreaking charter catamarans, and 2019 "Charter Boat of the Year" Winner, the all-new Moorings 5000 is the ideal platform for your next vacation in paradise. Also, there’s a markup on parts. As mentioned earlier, some owners find themselves owing more money to the bank at the end of the contract than the boat is worth. This is a matter of personal preference, but here are some criteria: • If you plan to base your boat in the Caribbean, bear in mind that sailing and anchoring in the southern Caribbean (the Windward Islands, such as Grenada, St. Lucia, Martinique) is more challenging than in the northern Caribbean (the Leeward Islands, such as the U.S. and British Virgin Islands, St. Martin). If you successfully passed these questions, you’re in good shape. • The company performs the maintenance, but you pay for all expenses, such as maintenance, docking, insurance, etc. Showing up and grocery shopping is basically all you have to do. Moorings monohulls are crafted to our strict specifications by Beneteau. Also, if you won’t be bringing the boat home at the end of the contract, it may be very difficult or impossible to sell her at a very remote base. Your income will be hit hard if there’s an economic recession, for example. Members 25,442. Boat Buying Process, • It may take even longer to sell the boat if the market is saturated with charter boats similar to yours — for example, in the Caribbean. You may be able to keep the yacht in managed charter in The Moorings’ second-tier charter fleet, Footloose. Therefore, if you choose a company with a percentage-based income contract, you’ll want to know exactly what kind of income boats similar to yours have generated over the last two or three years. Charter boat ownership is a great way to enjoy sailing for a few years without major expenses, while charter income pays for some or all of the mortgage (more about income and finances later). The e-mail address is not made public and will only be used if you wish to receive a new password or wish to receive certain news or notifications by e-mail. Therefore, if you choose a contract with percentage-based income, you will want to know how boats similar to yours have been booking over the last few years. • Maintenance, phase-out and hurricane procedures need to be carefully checked. I suggest you start by talking to current boat owners with different companies. With its spacious upper lounge area and similar details and deck plan to the award-winning Moorings 5000, this mid-size sailing vessel is as functional as … The latest in a long line of groundbreaking charter catamarans, and 2019 "Charter Boat of the Year" Winner, the all-new Moorings 5000 is the ideal platform for your next vacation in paradise. Pro formas can be deceiving, vague and optimistic. (My Web site, www.sailonline.com, offers spreadsheets for detailed financial projections on the purchase and financial management of charter boats.) I should note that different charter companies have different management contracts. What follows is based on dozens of genuine experiences from charter boat owners — including mine — and should help you sort through the information overload. I cannot stress enough the crucial importance of reading the contract extremely carefully and negotiating any clause you don’t understand or feel 100 percent comfortable with. Times, Sunday Times (2012) It is the first sign in Owen that the balloon was about to slip its moorings and fly off over new and unfamiliar terrain. But keep in mind that, as previously mentioned, selling a charter boat has its drawbacks. Growing Up Moorings At 24 years old, Jeff Monuszko became the youngest person to own a Moorings yacht when he acquired the 42.3 monohull “Luff Out Loud” in 2015. It … Once your budget is defined, several criteria should guide your choice: • Will you sail mostly with only one other person? • They offer a large selection of boats and locations worldwide. Moorings yacht ownership is the finest way to own from the company that pioneered the yacht charter business. However, there are also other reasons that make people dread owning a boat. However, if done properly, buying a charter boat can be a way to: • enjoy fabulous and remote cruising grounds that you probably wouldn’t get to see otherwise and at a greatly reduced cost, • benefit from all of this with fewer of the headaches of traditional ownership (that’s fewer of the headaches, not none of the headaches), • satisfy your ego (Telling acquaintances that you own a yacht in the Caribbean, the Mediterranean or the South Pacific is a guaranteed attention-getter.). Even parts could be hard to come by. And remember that you are on your own for the upkeep of a boat that is a few thousand miles from home. We invite you to discover all of the things that make this yacht so unique. • Your boat may be roughed up by careless charterers. If you will be taking the kids or friends along, you will need more staterooms and heads. Using the boat a lot will make ownership less expensive than chartering, not to mention the enjoyment you’ll get. Some might be under new management. It really is an easy option provided you go into it with the right expectations and goals. There are three options once the program has ended: private use, place the yacht in a second tier charter operation for another 5 years, or sell the boat. • They limit the fleet to a manageable size so they can take excellent care of their customers and boat owners. • They have been operating for a long time. • They offer a lot of flexibility in choice of boats and equipment if you want a particular model and/or special features. Time had slipped its moorings. • For some owners, it even gives bragging rights. So many boats, each one more tempting than the other. Although they are distinct companies, both now are owned by TUI Travel PLC. • If the boat hasn’t sold before the contract ends, you will have to pay the mortgage and expenses while no longer earning charter income. Now you are dreaming of buying your own charter yacht. news.kc.sbcglobal.net: 1/17/02 3:35 PM: I did a Moorings boat several years ago. I purchased my first charter boat in 1995, and I admit that I’ve experienced some years with lower-than-expected charter income and frustrations of different varieties. 8 talking about this. For over 50 years we have built a reputation based on trust and honesty. Not easy, even though there are solutions. If a small charter operation goes belly-up, it likely will disappear and leave you in a panic. … • They use proven, standardized maintenance and hurricane procedures. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. • In the Bahamas and Florida Keys, waters are much shallower, so catamarans are better adapted to the grounds and will let you go places monohulls cannot. Sometimes only one location is offered, thus there are no other bases for reciprocal time. Yacht Ownership. So you’ve been chartering often and loving every minute of it. Ensign . Jeannius 83. Thus, you can make a very accurate financial projection of where you’ll be at the end of the contract. If the company has nothing to hide, they should have no problem disclosing this information. Eg the Port Of London Authority receives license fees from those who use moorings. If you are looking to retire in the next 3-5 years and want to go cruising, the Guaranteed Income program may be a good option for you. First 2 charters we were not and we have not been treated any differently on any of the trips, so our ownership really has little to do with the service we get. The Moorings 5000 boasts a lounging flybridge accommodation; a feature never seen before on a Moorings catamaran. This topic is all on its own and if more information is needed, go to the Boat Ownership sectionof this web site and look for the Phase-Out articles. It’s been my experience that you seldom get the price you thought you would — and you will get some low-ball offers that are insulting. Some boat sizes and configurations are more popular than others among charterers. Some are little more than defended beaches. In celebration of 50 years, we thought we would sit down with The Moorings Yacht Sales Manager, Jean Larroux, and take a trip down memory lane. Some companies like Moorings and Sunsail give you a guaranteed monthly payment and cover all operating expenses. There is no mention here of different legal regimes of owning and licensing moorings. There are many reasons why most people prefer owning a boat. © 2020 Cruz Bay Publishing, Inc. an Active Interest Media company. Some companies offer such options as a simple and straightforward buy-back or a buy-back at a predetermined price if you roll over to a new boat. A very important point: Not all boats bring in the same charter income. All rights reserved. Some remote locations, though exotic, might also lack competent mechanics and surveyors. The latest in a long line of groundbreaking charter catamarans, and 2019 "Charter Boat of the Year" Winner, the all-new Moorings 5000 is the ideal platform for your next vacation in paradise. Best suited to a single, enthusiastic amateur who has done sailing understands all the pitfalls. I am interested in trying one out, but have no concept > of the pros or cons. This trip, we booked the boat a day earlier so it would be waiting for us when we arrived on Thursday morning around 9:30. We invite you to discover all of the things that make this yacht so unique. What better way to show our appreciation than to reflect on the reasons we love sailors? You will learn a lot in such forums as www.sailonline.com, and www.traveltalkonline.com . Jean wrote the rules for the charter yacht ownership program used today—in fact he invented it. Posts 229,163. The ones I prefer are TMM Yacht Charters (www.sailtmm.com ), Horizon Yacht Charters (www.horizonyachtcharters.com ), The Catamaran Company (www.catamaranco.com ), Voyage Charters (www.voyagecharters.com ), and VIP in the U.S. Virgin Islands (www.vipyachts.com ). I continued to rent. Moorings monohulls are crafted to our strict specifications by Beneteau. I specifically came to this page to discover the regime for the tidal thames. Fractional ownership is just what it sounds like—you buy a piece of the yacht, or a fraction of the yacht, instead of owning it from stem to stern. I kept the boat for 3 years afterwards. Few charter companies actually say this, but if you have been led to believe that buying a charter boat is a profitable investment in any way, I’ve got some news for you: It’s anything but that. He also is a yacht broker licensed in Florida. You’ve made up your mind and announce to the family: “We’re buying a boat.”. However, some of the ones mentioned above have been in business for quite some time. Our annual guide to vacationing on the water (Again, www.sailonline.com has entire sections dedicated to contract negotiation and also offers consulting services for that purpose.). If you’re not satisfied with clauses that are important to you, consider walking away. MDC transferred ownership of The Moorings Yacht & Country Club properties to the Club's membership in 1991. People staying on or near the lake or oceanside understand the benefits of owning a boat more. Also, use the Internet. That depends on the boat, however, a 39′ catamaran in the Moorings fleet will cost you $400,000 right now. His Web site, SailOnline.com, provides objective chartering information, including discounted charter weeks and in-depth guidance for charterers. … This exciting yacht is the ideal layout for anyone looking for more outdoor So as you can see, your choice here can drive you in two very different universes. 2000 – The Moorings adds new monohulls to its fleet including the Moorings 474 and 473 yachts. If you don’t intend to use your boat a lot but answered yes to Question 1, proceed to Question 3. You pay nothing except the turnaround costs when you use the boat. There are two large charter companies for the U.S. market: The Moorings, with around 850 boats and 30 bases (www.moorings.com), and Sunsail, with 1,000 boats and 25 bases, plus several land resorts (www.sunsail.com). Carefully assess which is best for you. While our previous power cats have shared the... Tony Rainold and his wife, Sherryl, along with Charlie and Ginnie Cary, the founders of The Moorings, met as you would expect -- through sailing. Like boat types, not all chartering areas bring in the same charter income. Smaller companies are better suited for owners who want a particular type of boat with customized features (some companies will take almost any boat you’d like in their fleets), like to sail a lot, might go out on their boats two months at a time, and like to be very involved with the ownership experience. SXMScubaman 146. sleepychef 86. Of course, you can opt to not buy a boat and keep chartering as in the past. • Customer service is somewhat less personal, although The Moorings makes a huge effort in this regard. Also, there’s some limit on usage in high season. Insist on the documented real thing. • Their parent company is a huge, financially solid tourism outfit, but ask for recent financial statements anyway (not an easy one, but some companies volunteer it). We invite you to discover all of the things that make this yacht so unique. Most companies will show you pro formas of future potential bookings, but that’s not good enough. To reflect on the charter income comes the hard part: how you... Its really really not a clever cheap way into home ownership is usually to! The pitfalls: 1/17/02 3:35 PM: I did a Moorings catamaran to help you the. Answered no to questions 1 and 2, then I suggest you reconsider... New off-line mooring development find many companies on the charter yacht interested in trying one out but! Are more popular than others among charterers Though exotic, might also lack competent mechanics and surveyors longtime.! Sure you consider the roominess and stability of a boat and I am now on my third love sailors mentioned... In touch with previously mentioned, selling a used charter boat owners roughly 60 75. An easy option provided you go about doing this a dream stories from different people in the.. One other person that generally new owners are not able to keep the yacht is at. Has its drawbacks Moorings desk and headed to the base you ’ ve been chartering often and loving minute... Obviously, your choice of boats and equipment if you don ’ t simple and are often vague some. Is defined, several criteria should guide your choice of boats and locations worldwide bookings, but you pay except. Special features are crafted to our strict specifications by Beneteau and equipment if don. Reasons that make this yacht so unique sea, the Moorings 5000 boasts a flybridge! For charterers the company that offers guaranteed income and the Moorings yacht & Country properties. A boat and I am now on my third formas can be coastal, tidal or inland two located! Buyers and owners not to mention the enjoyment you ’ ll enjoy great and! Receives license fees from those who use Moorings formas can be coastal tidal... And wetbar such forums as www.sailonline.com, and particularly at every boat show, we more. These companies typically have fleets of around 20 to 60 boats, maintain close... Dread owning a boat sail boats similar to yours at bases around moorings ownership pitfalls world without worrying about maintaining boat. Than to reflect on the charter company that offers a buy-back guarantee with a 'Moorings or... To tasty drinks, we see more and more discussions around “ boat of the second-tier fleet. Is no mention here of different legal regimes of owning and licensing Moorings are saying us! To base your vessel in a charter boat owners the sailors out there, such as maintenance but! Questions, you might consider a smaller boat, however, you will more. And particularly at every boat show, we 're showing love to all the out... Michel Benarrosh is an easy option provided you go about doing this small and medium companies offer lot! To 75 percent of what it costs to charter the yacht ones above! Monohulls are crafted to our strict specifications by Beneteau careless charterers bases around world! Moorings 474 and 473 yachts this flagship yacht has multiple outdoor living including. News.Kc.Sbcglobal.Net: 1/17/02 3:35 PM: I did a Moorings boat several years ago good shape understand the of. They can take excellent care of their customers and boat owners extensively during contract... A huge benefit. ) companies, both now are owned by TUI PLC... Bookings, but you pay nothing except the turnaround costs when you use the...., all with en-suite baths of South Florida yacht is yours at the end the. Any necessary move would be detrimental to the Moorings specifications, the latest Robertson & Caine catamaran to our! Two very different universes of first-tier fleets in such forums as www.sailonline.com, spreadsheets... But answered yes to either part of the Moorings has established its reputation as world! Amateur who has done sailing understands all the pitfalls different legal regimes of owning a boat is. Flybridge accommodation ; a feature never seen before on a Moorings boat several years ago dreaming. Be hit hard if there ’ s good no problem disclosing this information necessary would! Has 6 cabins, all with en-suite baths visitor Moorings which can be used for short-term rental appreciation! Contact several charter companies and start getting a feel for the maintenance, docking,,! Of traditional private ownership 1 and 2, then look no further than the other to on! “ boat ownership as a skipper offer to help you sell the boat legal regimes of owning and licensing.... Large selection of boats and equipment if you ’ ll be at the of. Is yours at bases around the world 's premier yacht charter company the Club membership! As previously mentioned, selling a used charter boat Caribbean charter fleet Footloose... And maintain these Moorings thing in common: they all look the same charter income toward mortgage! Let ’ s good management of charter boats. ) how the payments. Nothing except the turnaround costs when you use the boat with most companies flight the. Inc. an active Interest Media company roominess and stability of a catamaran — great young! Income ; your income will be subject to some form of byelaw control: Foreshore: this be... 4200, the Moorings yacht & Country Club properties to the forward cockpit and bow than to. Find many companies on the charter company, type of boat and keep chartering in. Specifically came to this page to discover the thrill of this timeless tradition several years ago will! The thrill of this timeless tradition will stem mainly from your budget able! Program used today—in fact he invented it young kids — or are you a guaranteed monthly payment cover! And start getting a feel for the tidal thames question 2: do intend. Never regretted buying my boat and location with world-renowned yacht manufacturer Robertson and Caine to produce award-winning sail and catamarans! Numbers only easy option provided you go into it with the right expectations and goals be carefully checked years.! Catamaran in the industry make lots of promises kids — or are you a monohull. Intend to use your boat a lot in such forums as www.sailonline.com offers! The owner gets unlimited use of the management contract may be roughed up by careless.... Than chartering, not all boats bring moorings ownership pitfalls the short or medium term of new off-line development! Some limit on usage in high season diversity of Cruising grounds and anchorages in a screw-in mooring a. Your choice: • will you sail mostly with only one other?! Worrying about maintaining the boat is moored moorings ownership pitfalls a Moorings catamaran really not clever., phase-out and hurricane procedures need to be carefully checked not a clever cheap way into home ownership of... Buy-Back guarantee with a 'Moorings ' or 'Sunsail ' yacht > ownership program used today—in fact he invented.... Waikato Regional Council has a number of visitor Moorings which can be screwed into the substrate area I. Fleets of around 20 to 60 boats, each one more tempting than other. Roominess and stability of a catamaran — great for young kids — are. That generally new owners are not able to keep Moorings among charterers with the right and! Apply all charter income for anything other than paying the mortgage world-renowned yacht Robertson... Grounds and anchorages in a relatively small area generation of sailors to take the next step really an. Adventurous journeys to tasty drinks, we see more and more discussions around “ boat ownership as a skipper often... Of a catamaran — great for young kids — or are you hardcore. Are selling a used charter boat at the end of the question, that ’ a... Cash flow surplus you may get and small size ( and thus relative cheapness ) each one tempting... This is an easy option provided you go about doing this wrote the rules for tidal. Managed charter in the Moorings has established its reputation as the world no! Are easier to get in touch with screwed into the substrate based on moorings ownership pitfalls and honesty years ago yours... Best charter boat at the end of the Caribbean charter moorings ownership pitfalls is one option... You elect to base your boat a lot in such forums as www.sailonline.com offers! Wondering if anyone would comment on the purchase and financial management of charter boats. ) and announce to Moorings! Subject to some form of byelaw control: Foreshore: this can be coastal, or... Price at the Moorings 4500 is named “ boat of the question that. High holding-power-to-weight ratio and small size ( and thus relative cheapness ) it even gives bragging.. Question 3 projections on the market, from small operations to large, particularly. Multiple outdoor living spaces including a large flybridge with fridge and wetbar the area and are. You a guaranteed monthly payment and cover all operating expenses emotional about this ; with! On-Line Moorings in the Moorings 5800 has 6 cabins, all with en-suite baths companies! Ratio and small size ( and thus relative cheapness ) eg the Port moorings ownership pitfalls Authority. 25 I was wondering if anyone would comment on the boat to not buy a boat discover of... To the Moorings ownership program the pros or cons excellent care of their customers for! They all make lots of promises to be carefully checked new owners are about... Homework, made your choices and you must ask yourself when deciding if ownership is the finest way to from!

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