Am I able to sell my share?
Yes. Your unit in the Trust is a tradable asset which you are free to on-sell at any time to anyone for any price.
However, the new owner will have to satisfy certain conditions to protect the remaining owners and pay for their familiarisation session on the boat (cost of $250 incl GST + expenses).
SMART Boating will broker a unit for you for a 5% + GST share of the sale price achieved.
How long is the ownership agreement?
The syndicate agreement runs for five years, at which point the boat is sold and the net proceeds are then returned to each owner according to the equity they hold. This has the benefit of giving you the best resale value and is before maintenance costs would start to increase on the boat. Many owners stay with us and move on to a new yacht or upgrade to a larger model.
Are there any hidden costs?
No, basically everything is included. The only additional costs to bear in mind are the cost for acquiring and installing additional equipment voted upon by the owners themselves, any insurance excess payments that may become due following a claim, standby use fees, any contingency fund top ups needed and, for motor boat owners, the cost of fuel used.
How are the boats equipped?
Every boat is comprehensively fitted out with all the necessary equipment and luxuries, including cooking utensils, bedding, hot/cold showers, stereo with CD player, iPod connection and cockpit speakers, barbecue, electric fridge and icebox, bimini and boom awning, wind, depth and speed instruments, electric flush toilet, electric anchor winch and safety gear.
Who pays if another member damages the boat, or for other unexpected breakdowns?
In the unlikely event of damage, each owner has signed an agreement to pay for any damage they cause to the boat. The boat will be fully insured which should limit this liability to a maximum insurance excess of $2,000. The boat and equipment are initially covered by a manufacturer’s warranty and there is an allowance in the monthly fee that goes into a sinking fund for unpredictable expenses.
What are the advantages of having your boat share managed by SMART Boating Group?
- We use carefully selected brands and boats which are ideal for multiple owner use and which we believe will achieve the best resale values in five years’ time.
- We have an office open seven days a week where your boat is berthed and have a team available for any assistance required with berthing or the boat’s administration and operation.
- We offer the full range of maintenance services from the marina, which prevents having the unreliability of contractors who will not care for your boat as we would.
- We can offer all syndicate owners additional training from qualified instructors.
- We have an on-water breakdown service available to you throughout Pittwater/Broken Bay/The Hawkesbury River (Note – charges may apply for this service).
- Your boat will always be cleaned and prepared for your use before you arrive with the tanks full, fridge cold, hatches opened and batteries charged – simply walk on and sail off.
Are yachts or power boats easier to manage?
This is a common question and really depends on the person at the helm. Everyone’s experience, comfort level and confidence will be different.
Lucky for you, a member of the SMART Boating team will be around to jump on board and give you a hand. Maybe you’re concerned because you don’t know how to sail? To be honest…
… if you have enough skills to manage a motor boat it would take very little to gain the skills you need to manage a yacht. All our yachts have reliable and convenient in-mast furling.
Our ‘learn to sail a yacht’ courses are great value and perfect to get you up to standard. Or we can arrange one-on-one tuition to suit your specific needs.
Adrian and Megan Barnes had very little experience when they joined their SMART yacht share and now they own a charter yacht!
All our yachts have a self-tacking headsail – if you’re not a sailor you won’t know what this means…
… but trust us – it means easy sailing for you.
And talking of sailing…
… have you considered how relaxing sailing is?
Here’s a fact most boaties realise after a while…
Eventually the noise of the traditional boat’s engine begins to annoy you.
Your day becomes about getting to your destination and relaxing once you get there.
On a sailing yacht, as soon as the engine goes off and you’re being blown along by the wind…
…you can visibly see everyone chill out in front of you.
The journey to the secluded bay is as relaxing as the time you spend there. In fact, it is often said Sailing is about the journey and Power Boating is about the destination.
And of course, if you want to cross oceans or head down the coast for a few days … your yacht is more than capable of taking you where you want to go.
Can you find peace, quiet and performance on a power boat, too?
Yes, of course you can!
Our Integrity 380 power boat gets you where you need to go quietly and quickly, at up to 14 knots.
This easy to handle motor cruiser boasts the space and comfort you’d expect from a 36+ footer!
Can I bring my dog on board?
No. For the safety of the dog and comfort of the other owners, we don’t allow you to bring any animals on board.
Can I moor anywhere?
Yes – and we even have dedicated SMART Boating buoys in designated areas.
Can I stay in the marina overnight?
Can I arrive after you’ve gone home?
Unlike other boat share companies, we encourage you to make the absolute most of your time on the water and use the full 24 hours you’ve booked. Your booking finishes at midnight, and you are free to arrive anytime in the evening. However, if you need assistance with parking from SMART Boating staff members, you will need to arrive during office hours.
How do I apply?
Decide which boat share will suit you best then complete an application form and lodge a $2,000 deposit to secure your place in the next syndicate. You then have seven days to review all the documentation and complete a test sail.
The purchase price will be due in instalments with the first payment due upon confirmation the syndicate is sufficiently full and the boat is being ordered.
The final payment is due prior to delivery of the boat, which gives us time to set up the Unit Trust plus commission and to equip, register and insure the boat prior to initial hand over.