Why Buy a Helmsman Trawlers® to Place in Charter?
*Information courtesy of San Juan Yachting - a charter company in Bellingham, WA
Many people don’t realize that charter companies do not own the boats in their charter fleets. Individuals (like you) own the boats and lease them to the charter company which offers them for “bareboat charter” to qualified skippers. And the owner is paid the majority of the charter fee that’s charged.
Your boat can help earn its own keep! And owners get first choice of all the charter weeks each season.
1. Boats in charter at San Juan Yachting earn between 65% - 85% of all 6 expenses of boat ownership:
- Moorage
- Maintenance
- Insurance
- Property Tax
- Misc. Expenses (some for Boats in Charter)
- And even…Your Loan Payment! So you’ll own your boat-in-charter for around 25 cents on the dollar, compared to “private” ownership.
2. You don’t pay WA State Sales Tax when you buy and place your boat “directly into bareboat charter” with “no intervening use”. And your down payment, with no tax to roll into the loan amount, will be less.
3. Boats (even brand new ones!) which might otherwise be a “stretch” financially can now be affordable.
4. If you can afford a boat, with charter you can afford a bigger boat for the same or even less money.
5. Other people help pay down your loan, as you build equity in the vessel (largely on their money).
6. Owners get first pick of all the charter weeks each year. San Juan charters around the owner use.
7. San Juan Yachting has never imposed a limit on owner use. Owners occasionally take that big cruise!
8. Immediate access to a slip in Squalicum Harbor, Bellingham, gateway to San Juans and Gulf Islands.
9. Emphasis on preventive maintenance means your boat is always ready to enjoy and very reliable.
10. Wear and tear in the Northwest (with an average of 10-12 weeks of charter annually) is minimal*. Caribbean boats get 30-40 weeks of charter annually, and they do take a beating. But not up here.) Come and tour boats that have been in San Juan Yachting’s fleet for years, and you’ll see!
11. There are tax advantages like 2nd home interest deduction. And sometimes additional benefits.
