YACHTING SELECT | Charter Benefits
Discover The Benefits Of Chartering Your Yacht
Charter is dynamic and powerful, as a Yacht Owner you can realize some important benefits by Chartering your Yacht. Below we have outlined some of the top ways that Charter could Benefit you.
With over 25 years in every aspect of Yachting, Yachting Select has the expertise to custom tailor the right charter program that will benefit you most! We welcome you to Experience The Difference.
The World Of Yachting is extremely diverse with so many factors involved. To fully understand how to maximize your potential as an Owner based on your Yacht and your Yachts program, CONTACT US BELOW.
What Types Of Charter Are Available?
Day Charters – Generally is the use of a yacht for an 8 hour period that includes the yacht, crew, fuel, water toys and a fixed set of drinks and snacks for a set price.
All-Inclusive Yacht Charters – Some charters (mainly catamaran and monohull charters in the Virgin Islands) offer all-inclusive rates. That means rates are based on the number of guests, and they include all food and drink, water sports, and fuel costs. Dockage and taxes are charged separately.
Bareboat Charter – the owner gives possession of the Yacht to the charterer. In this arrangement, no crew or provisions are included. The Charterer “rents” the Yacht from the owner and are responsible for taking care of everything during the time frame of the agreement.
Term Charter – A term charter is a multi-day charter, typically seven nights or one week agreement. A Term Charter includes the Yacht, Toys/Equipment and Crew for the time frame of the Charter. All other costs for fuel, tax, crew gratuities, provisioning, and docking are additional.
What Could Be The Benefits Of Chartering Your Yacht?
Offset Yearly Ownership Costs – Chartering your Yacht for 8-10 weeks a year can significantly reduce the out-of-pocket costs of owning your Yacht. Based your scheduled use, a well-organized charter program can secure 12 to 14 weeks of charter per year, having the potential to cover your operating costs.
Yacht Charter Crew – Having the top experienced crew is the key to the success of every charter. Chartering allows the crew to stay busy and earn more money, the Charter revenue offset allows you and your family to enjoy the top level of service every time you are onboard.
Top Locations Year Round – Your yacht will always be in the most desirable locations year-round. So when you have an opening in the schedule you and your family can fly in and enjoy a last minute holiday together in the best locales around the world.
Increased Resale Value – Having a successful Charter Yacht will be an impactful benefit when you decided to sell your yacht. The positive reputation gained by potential buyers that were onboard during a Charter or anyone interested in owning a Charter Yacht, will make the Yacht much more desirable when marketed for sale.
Tax Advantages – There are tax advantages depending on your ownership structure that could include writing off expenses to deprecating the Yacht over time. Each owner has a different structure based on where and how the asset is owned and must be discussed with a CPA to confirm what is available.
Use and Maintenance – A yacht that doesn’t get used much tends to have more issues. Having a yacht in a Charter program means the Yacht must be ready at all times and thus is under a strict maintenance schedule. The Yacht benefits from routine maintenance and upgrades every year so when it comes time to sell, she is a turn-key operation for the next owner.
Want To Discuss The Options To Charter Your Yacht?
Yacht ownership is complex, every situation has many unique aspects. In order to fully understand what the best options are for you Contact Us Below.
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