Yacht owners have to decide; where to keep the yacht, who is going to look after her, how she will be maintained and how much it is all going to cost.
Many owners decide that a good way to minimize their cost of ownership and to ensure that their boat is properly maintained is to place her in a professional charter fleet.
Yacht owners know very well the cost of marina fees, insurance premiums and the cost in time and money of keeping her in sailing condition. By placing her in charter you will get benefit from the fleet discounts negotiated by the charter operator, save much of your own time and always have the yacht ready to go and will receive a sizable chunk of the charter revenue.
For brand new ideally equipped charter boats acquired through the Gulf Charters brokerage and placed in the Gulf Charter’s fleet for a minimum of three years then Gulf charters will guarantee that not only will your boat cost you nothing but also you will receive a return of 6-8% of the boat cost per year.
If your boat is suitable for charter and is available to be chartered 90% of the time then she will probably be out on charter 100-140 days or 15 -20 weeks per year. Calculating the income is easy – just look on the GCT price list, calculate that most of the income will be in the higher rate season, deduct about 10% for agent fees and about half of the rest will belong to you.
If she is not already booked you can walk onto her and sail her any time you like. For 4 weeks per year outside the peak season you can book her for a sure fire holiday with the family or for your friends. For these excursions your total extra costs will be the fuel burned, cost of any crew you wish to hire and a 1000 baht preparation fee to put the boat back into charter condition and wash the laundry.
Owners with Gulf Charters agree that when their own boat is not available for a day sail then they are free to go sailing on another owner’s boat which does happen to be available along the time share philosophy and because they get a benefit from broadening their experience of other yachts.
Owners are required to insure their boats for bareboat charter and Gulf Charters Thailand currently maintains a fleet policy with QBE Insurance for its existing fleet. Owners joining this policy gain the advantage of fleet discount and the excellent claim record of the past years. In addition claims are handled by experienced Gulf charters staff. The policy covers all claims over the excess limit of 50,000 baht and which is equal to the required bareboat charter security deposit.
Gulf Charters staff are on board your boat almost every day of the year and will simply carry out any small maintenance task that they see needs to be done. Regular cleaning, oil changes, cabin cleaning, laundry changing etc is all carried out free of charge as part of the charter service. When you come on board the tanks will be filled, bathroom clean, gas in the bottle and clean sheets on the bed.
Should the boat require further maintenance then Gulf Charters staff will carry it out at the owners expense on items that cost less than 10,000 baht without prior reference to the owner. For items in excess of that amount the owner will be consulted and approval sought prior to the maintenance. Should the owner not be contactable and charter revenue threatened then Gulf Charters will carry out the maintenance irrespective of approval
Gulf charters pays all the boat bills on the owners behalf. Every month it produces a statement of the income and expense for the month and the balance due to and from the Owner. The owner is required to keep a positive balance of 50,000 baht in this account. Many owners leave their positive balance earned in high season on the account to avoid having to find cash to maintain this balance in the low season.