If you’ve ever taken a cruise or charter, you’ve probably heard of a “boat hire” service that allows you to rent a boat out for a few days, or even weeks, at a time.
That’s because they’re designed to make sure you get the most out of your time aboard your vessel, says Richard Smith, CEO of Boathive, a luxury yacht rental company.
“A lot of people think, ‘How can I afford to rent out my yacht for three months?
And I have no money to rent it out for three weeks,'” Smith says.
“You’re not going to have the time, energy, or resources to do it, so you should rent it to somebody else.”
Here are the most popular outbound boat hire services, and how to book them.
Outbound yacht rentals are free.
As far as boat hire is concerned, the best option is a one-time rental that lasts only a few weeks, Smith says, and that’s the best way to get a feel for what it’s like on a boat.
“I would never rent a yacht out for months or years, but you do have the option of doing it,” he says.
You could rent a full boat, or rent one- or two-person boats for a limited time.
The most popular options are the “private charter” services that allow you to book one-day rentals of up to a week.
These allow you a limited amount of time to spend on the vessel, so there’s a higher chance that you’ll enjoy the trip.
If you rent out a boat to a couple of people for a short period of time, you can still take advantage of the extra time, but it might not be as fun.
Smith says that he’s been renting out a yacht to couples for about five months.
The reason is simple.
“If you’ve got a couple, they’ve got their own boat and they’re spending more time in it than most people,” he explains.
“They like the solitude, they like the freedom, and it makes them happier and more productive.
You don’t want to get stuck with two people that aren’t spending as much time as they would with three.”
The private charter boat rental service is usually more expensive than a boat hire service.
If your boat hire plan is just for a month or two, you might pay around $2,500 to rent an outbound vessel for a day or two.
On the other hand, if you’re planning to rent your boat for a year or more, you’ll need to budget at least $15,000, says Smith.
“It’s a little more difficult to budget on a private charter, because you have to book it, you have the responsibility to pay the people, and you have some responsibility to the owner,” he adds.
If renting out your yacht for a full year is your plan, you should look for a service that’s cheaper than a one or two person rental.
A private charter may cost less, but that’s because the owner has more responsibility.
In addition, you’re likely to pay more because you’ll be responsible for the company’s upkeep, Smith explains.
And it might be less convenient to stay on board the vessel when it’s not in use.
You can also rent out your boat at a rate that’s less than $1,000 per person per day, so a two- or three-person boat will run you about $5,000 a day, according to Boathiver.
The “rent-a-boat” service will be cheaper.
Depending on the type of rental you’re looking for, you may need to factor in the cost of a yacht, the number of people onboard, and the time the rental is scheduled to last.
If it’s a private boat, a one and a half person rental can cost $2 or $3,000 for a three-day trip, according the rental company BoatHive.
In contrast, a “private hire” might run you around $5 to $10,000 depending on the length of time the boat is to be used.
The boat hire company recommends renting out the vessel for one month or so, or until the owners need it.
The rental company will rent out the yacht, or part of the vessel to a guest, and then you’ll get a check for the total cost of the trip, plus any expenses related to the voyage.
In many cases, this will be $1 or less than a private hire.
But if you rent a private yacht out, you will be responsible to pay for the rental and other expenses.
And if you book your boat on a one person charter, it’s the owner’s responsibility to get the yacht out of the water safely.
You might even be able to deduct the cost on the lease as well.
You’ll probably get the best out of renting your boat out.
If a private rental is your best option,