The fun of boating used to be reserved for the wealthiest of those who could afford them. They called it yachting and the boats were designed to be lavish and large, as well as astronomically expensive. While sailboats and other options became popular and more affordable to the middle-class, some people still couldn’t afford the luxury of ownership.
There are many ways to share ownership of a vessel, including renting when the need or desire arises, joining a club that offers fleets, go in with family/friends, charter a boat or consider a boat-share arrangement, which is similar to a timeshare.
Renting doesn’t make much sense because you have nothing to show for the money you put in. You don’t own anything and have no assets. Likewise, chartering a boat can get expensive, especially if you want to go out frequently during the year. Buying with others, such as family members or friends can lead to a lot of headaches and arguments.
However, companies like Luxury Boat Syndicates offer another alternative. You can share ownership of a boat. They offer a variety of plans, where you and others purchase the boat for personal use. Each owner gets a specified and fair amount of time on the vessel, and after a few years, it is sold and the profits disbursed equally. You get all the benefits of ownership without all the hassles and annoyances.
What makes it so pleasing to most people is that you don’t have to deal with storage, refuelling, hiring crew or learning about boating. You are free to go where you like, within reason, and get a fair share of the boat. However, you don’t have to fight amongst friends or family, have specific rules and contracts available, and so much more.