How do boat shares work?
A SMART Boating syndicated boat share is one of the most affordable and hassle free ways to live your boating dream.
Becoming a syndicate owner of a boat enables you to own your own boat at a fraction of the cost of buying it outright…
…as well as share all of the ongoing costs of owning a boat.
But how exactly do boat shares work?
Brand new boats that are fully equipped
We comprehensively fit the boat out with everything you’ll need, including cooking utensils, bedding, hot/cold showers, sound system, barbecue, TV, appliances, electric fridge and icebox, bimini and boom awning, wind, depth and speed instruments, electric flush toilet, electric anchor winch and safety gear.
We then syndicate the boat into 10 shares, so each boat has 10 owners who are entitled to a minimum of 34 days per year usage, with unlimited standby access.
All owners receive equal share of the sale of the boat
Our boat share syndicate agreements run for five years, after which time your boat is sold and the net proceeds are then returned to you according to the equity you hold.
Our experience has shown us that a five-year syndication is ideal for resale value, and it also means we sell the boat before maintenance costs start to increase.
And because you only own 10% of the boat, you only have to wear 10% of the deprecation… however, because our boats are cleaned and used far more frequently than privately owned boats, they actually hold their value extremely well!
Shares can be sold prior to the five-year point
At the end of the five-year syndication, many owners stay with us and move on to a new yacht or upgrade to a larger model.
However, we understand that circumstances change, which is why shares can also be sold prior to the five-year point.
You are free to sell the share yourself or SMART Boating can broker a unit for you. In fact, we usually have a queue of people to buy what we call an ‘existing syndicate share’.
Existing syndicate shares
At SMART Boating we have a lot of people on our database.
We’ve been sending out newsletters to a couple of thousand people for 14 years now, so we’re in contact with a lot of people interested in buying both new and existing boat shares.
Sometimes they’re not interested in a particular point in time, but maybe they will be the next summer.
The advantages of existing syndicate shares are that they are available now and usually a little bit cheaper than a new share.
If the honeymoon period of the boat has passed, there is usually good usage left in the share and the shorter time frame means they are a good way for new owners to try out boat syndication without having to commit to a five-year term.
Our SMART Boating fleet has grown considerably over the last few years.
Owners dream of upsizing, downsizing, maybe even get into a totally different style of boat. They might have been in a sailboat but they’ve decided a motor boat is now the best option for them.
Some of our boats now go to the Whitsundays and that is proving to be quite a popular option.
We welcome owners going from one type of location or one type of boat to another.
In fact, at SMART Boating we are great believers in giving the people what they want… not what we think they want.
What’s included in the monthly fee?
Your monthly fee covers every expense that is associated with owning a boat… there really are no hidden extras.
But as any boat owner will tell you, when you own a boat, the initial outlay is just the start of your expenses.
You’ve got to keep a boat somewhere… you can’t just park it on the side of the road like you can with a car. So, there’s either a marina berth or a mooring.
At SMART Boating, we always use marinas so our owners can just walk on and walk off.
Then there’s the slipping, the antifouling, the insurance, the registration and the refuelling process. And after every use, our boats are totally cleaned both inside and out and the laundry is done.
The only variable coast we have will be fuel on some of the boats, such as the motor boats and the boats that go to Hamilton island. But each owner is in complete control of that cost themselves.
Sounds too good to be true?
Yes, we hear this all the time.
But if you don’t believe us, here’s what some of our owners have to say.
“We were amazed at what SMART Boating delivered for our money, compared to buying our own boat outright.”
“We were looking for ease of use and that’s what SMART Boating delivers. We get to enjoy all the good bits about owning a boat and we leave all the hard bits to SMART Boating.”
“The boat is always perfect. SMART Boating deliver what they say they are going to deliver – a walk on walk off service. And they deliver it every time.”
“We simply walk on – and walk off at the end of the day, and there’s no time wasted maintaining or worrying about the boat – we leave all that to SMART Boating.”
“We arrive to a clean boat, full of fuel and water, with fresh linen on board. We don’t have to worry about anything.”
Whether you become a syndicate owner of a sailing yacht, a fast motor cruiser or a spacious catamaran, with a SMART Boating share you get to enjoy the experience and excitement of owning a boat with absolutely none of the stress that goes with maintaining it.