If you have read our “Yacht Ownership Options” and decided that Fractional Ownership is the route you would like to go here are more detailed specifics of this program. For an Owner, the main attraction of this program is the ability to know exactly what it is going to cost you to own a boat to use for your vacations with the mystery and, more importantly, the risk, being removed from that ownership experience. Having operated a bareboat charter fleet for over 30 years and fractional ownership catamarans for the past decade, we are in the unique position to be able to advise and supply a product that will suit your needs.

HOW MUCH DOES IT COST & HOW IS THIS CALCULATED?

The program takes (1) the cost of vessel, (2) the set up and management of the LLC to own the vessel and all the closing costs involved and (3) the estimated operating costs of the vessel for the 3 years of the program, based on past experience. This total cost is then divided by the number of owners who are buying a share in the vessel.

WHO HANDLES THE PROGRAM OVER THE 3 YEARS OF OPERATION?

With this program comes a full back-up team to handle the entire process to ensure simplicity for all Owners. Our independent, experienced management team will manage and operate the LLC, ensure compliance and accounting and deal with all Owners. Our experienced Charter Management Company will manage and operate the vessel on behalf of the LLC and provide all the vessel services that will be required including dockage, maintenance, insurance etc., in effect, a turnkey service.

WHAT IS THE ANNUAL OWNER COST?

There is no annual cost to the owner, other than his personal usage costs such as turnaround, fuel etc., all of which are based on how many weeks he chooses to use the vessel. All of the vessel’s annual operating costs will be paid from the Operating Reserve which will be funded at the time of setting up of the LLC.

If the operating costs exceed the cash in the operating reserve then the Charter Management Company has agreed to fund and cash-flow these additional costs with full reimbursement at the time of the resale of the vessel.   

WHAT HAPPENS AT THE END OF THE PROGRAM?

After 3 years Owners will have the opportunity to move into a new program. The existing vessel will be sold and the current program will come to an end. The Charter Management Company who managed and operated the vessel will guarantee the purchase of the vessel and the funds from the sale of the vessel and any other excess funds in the vessel operating account will then be distributed to the owners.

HOW MANY WEEKS DOES AN OWNER GET TO USE?

The program provides for up to 4 weeks of advance bookings for every owner in each calendar year. The Managers of the LLC will advise the charter company on any specific weeks allocated to any specific owner. In addition to the guaranteed weeks, each owner may also use the vessel for up to an additional 4 weeks if the reservation is made within 21 days of the charter start date.