Yacht Charter Management

Hamble Point Yacht Charters - Yacht Management Scheme

If you add your yacht to our charter fleet then we will look after her for you but will also pay you an income for charter use.  We charge you the standard 40% commission on any charter income, but your yacht will still remain available for you to use whenever she is not on charter. This means that you can get the maximum benefit from your ownership, whilst ensuring that your yacht pays her own way when you are not using her.

We ask you to notify us well in advance of the dates that you plan to use your yacht. We then make sure that these dates are reserved for you and that the boat is ready on your arrival so you can just sail away. If you wish to sail her at short notice, there is no problem but we do ask you to call us to check that we have not taken any last minute bookings on your behalf.

We will handle advertising, enquiries, bookings, correspondence and all aspects of marketing your boat. We have a full marketing programme including a stand at the Southampton Boat Show and brochures displayed at the London Boat Show; monthly advertising in the yachting press including Yachting Monthly, Practical Boat Owner, Yachting World and the RYA Magazine; and we send direct mail at regular intervals to our large database of contacts. We have our own website to which we drive significant traffic, and we have a presence on many other websites. Full details of your yacht will be included in our brochure and on our website.

We will charge your account with any maintenance or other expenses having pre-authorised any significant work with yourself and will send you a statement on a monthly basis showing charter income and expenses. VAT-registered owners send us a VAT invoice for the gross charter revenue. We then immediately pay any monies due, less our own commission, directly into your bank account.

Your yacht is cleaned, checked and maintained after every charter and after your own use so you can be assured that your boat is being well cared for in your absence but will be ready for you to board whenever you arrive to sail her yourself.

Which is the most suitable type of yacht for charter?

Our fleet consists of around twenty five yachts of varying manufacture and age. We will consider most yachts, but the ideal length is generally between 32 and 47 feet. A layout with three or more cabins allows for a much greater flexibility in chartering.

Whilst new boats are preferred, we will certainly also consider slightly older, well-cared for yachts. We have a strong charter following for yachts from specialist yards such as Arcona, Hallberg Rassy, Maxi and Najad which are of a high quality and are strongly built, however modern production boats can also be ideal as they offer good levels of accommodation and performance.

We have close ties with most brokers and would be delighted to offer help and advice with your choice of yacht.

What would be the expected costs and income if I charter my yacht?

Below is a real and typical example of a 2006 Sun Odyssey 37 on our fleet in 2010. With yacht ownership there are always costs beyond the routine, so to provide a full and honest picture we list all expenses incurred for the year, both routine and unexpected:

Net Income:  
Net Charter Income £22,622
Net Expenses:

 

 
Berthing £6,885
Insurance £1,020
Routine Maintenance:

Winter Maintenance

£2,000
 
(Lift & pressure wash, remove sails, winterize yacht, service engine, supply & fit new anodes, check seals & bearings, check, repair, launder sails and canvas, service seacocks, flush water tanks, service winches, prepare & anti-foul hull, clean & polish topsides, full deep clean & inventory check, recommission yacht)
Full winch service £84
Other small jobs £52

Compliance and Safety:

 
Replace expired flares £182
Hire of 8 person liferaft £420
Lifejacket inspection £51
Fire extinguisher service £26
Coding renewal fee £70
Gas test & certification £110
Rigging check £110
Seastart Membership £160

Additional “Unexpected” Maintenance:

 
Replace forestay £407
Replace propeller £440
Main halyard replacement £88
Repair gel voids £255
Sail & canvas repairs £160
Investigate & fix engine overheating £532
nvestigate & fix engine vibration £105
Replace cutlass bearing £181
Repair slipping gearbox £614

Other:

 
Pontoon electricity £88
Gas £120
Replace bulbs (with mast climbs) £130
Replacement batteries £19
Rescue line holder £35
Wear & tear replacements £110
Total expenses: £14,454
Income after expenses: £8,169
Less 40% management commission: £9,048
Total cost of ownership for one year after all expenses paid: £879

You can expect chartering your yacht to cover the majority of costs arising from yacht ownership and in some years will find that chartering provides you with an additional income. We do not make inflated claims and will happily show you the accounts of yachts on our current fleet most closely resembling the yacht that you are considering placing with us. We would also offer you the opportunity to talk to current owners.

Will my yacht suffer from being used by other people?

We thoroughly vet all prospective charterers to ensure that they are capable of handling your boat. For every charter we carry out a comprehensive handover procedure to allow for familiarization with your yacht. On their return, we speak to the charterer to ensure that there have been no problems and we carry out a thorough check of the yacht. If the charterer is responsible for any loss or damage then this is immediately rectified and the cost is deducted from the charterer’s security deposit.

We pride ourselves on the standard of our maintenance. Yachts under our management follow a rigorous maintenance and cleaning schedule. Charterers are often surprised by the good condition of even the older boats on our fleet, which despite the additional usage, therefore tend to retain their value better than similar yachts of the same age that have not been chartered.

What about "Coding"?

Yachts in charter management must comply with the MCA Code of Practice for Small Commercial Vessels, otherwise known as the “Code”. A “Coded” vessel is inspected annually by the MCA and the managing agent to ensure that the yacht’s structural integrity and equipment continue to conform to the high standards required. The amount of equipment needed to bring a yacht up to coding level will vary depending upon what equipment the yacht already has, however, for a bare yacht with minimum equipment the cost could be as high as £6,000. A comprehensive inventory is essential, but we will be pleased to offer full assistance with preparation for the registration of your boat.

In addition to the requirements for coding, we have a standard inventory including recommended galley equipment, pillows etc. Before every charter or use by owners we will put on board a welcome pack of basic supplies including cleaning supplies, toilet rolls, pillow cases and tea-towels

Can I reclaim the VAT on the purchase price and outgoings on my yacht?

Although the Inland Revenue tends to be suspicious of the motivations of yacht owners, there are potential tax advantages to be gained for the boat owner who is genuinely providing his yacht for charter usage. We have experience in this area and can refer owners to specialist professional advisers who have been successful in ensuring that all our owners who wish to do so have been able to achieve VAT registration.

Why choose Hamble Point Yacht Charters?

We are in our 24th year at Hamble Point Marina. During this time, as a family-run business, we have concentrated on offering a highly personal service to both the owners of the yachts on our fleet and to charterers. We aim for a friendly yet professional approach, and are members of the Royal Yachting Association, British Marine Federation and Marine Leisure Association.

The majority of our charters are repeat bookings and much of our business is through personal recommendation. We have a reputation for a high quality of maintenance and presentation of our fleet, at the top end of the charter market. Our charterers tend to be individuals, families, sailing clubs and retired persons.

Our location at Hamble Point Marina is easy to get to, yet provides prime access into the Solent. You will benefit from all the Club Outlook advantages offered by an MDL marina, including free visitor nights at other MDL marinas, 20% off boatyard services, and MDL WiFi.

We will always be pleased to help with any queries or investigations that you may have concerning your yacht, equipment or sailing generally, and access to our 24 hour emergency hotline is available to you whenever you are sailing.

We are conscious that we are responsible for your pride and joy, that you own her, and that you have first call on her use. We make every effort to respect your wishes concerning her and to maintain her in at least as good, if not better, condition than when she joined our fleet.

023 8045 7110

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