Have you dreamt of owning a boat? Many people have this dream, but with SailTime it can become a reality!
You can enjoy ownership of a new, fully loaded sailing yacht or catamaran and get paid for the pleasure. With our yacht ownership program, you can buy a boat with the confidence that revenue from SailTime will offset much of your boat’s expenses. With a worldwide fleet of over 150 boats, you can be rest assured that the program works, providing you peace of mind that your boat will be well cared for by SailTime.
Here is a high-level overview… An Owner Member purchases a new Beneteau sailboat or catamaran and subsequently signs a Boat Management Agreement with SailTime. The Owner Member makes the decision regarding how many Members he/she would like on his/her boat. The owner can opt for a maximum of 7 Members or a minimum of 1 Member to be assigned to his/her boat. The typical choice is for the Owner Member to hold a double Membership (i.e., 1 full week of boat access per month) while allowing 6 other Members to share the remaining time. As more Members share the boat, the revenue to the owner increases. To source and identify Members, SailTime attends boat shows, as well as engages in marketing, advertising, and sales activities.
Business expenses such as sales, advertising, marketing, boat shows, office, etc. are covered by SailTime. All boat expenses including the cost of the boat, slip, insurance, and maintenance are covered by the Owner Member. SailTime also pays for boat washing, holding tank pump outs, fuel and the stocking of 16 general use items. Revenue from the Members using a boat is split 50/50 between the Owner Member and SailTime.
SailTime will assist the Owner Member in attaining the best price on the boat he/she has chosen. SailTime will add any new Beneteau in the 35, 38, 41 and 45 foot range, as well as catamarans.
The Owner Member may leave his/her boat in the SailTime fleet for up to 5 years. At any time, the Owner Member may also request to pull the boat out of the SailTime fleet. SailTime would like a 6 month notice, but if Members can be transferred to other boats in the fleet, the boat can be removed from the fleet as soon as the Member transfer is complete.
How many people own the boat?
Just one. You would be the only owner of the boat. The boat is shared by the owner and a limited number of non-equity Members.
What are my monthly membership costs?
None. You are not billed for usage of your boat.
What options are included in the boat?
The owner chooses the new boat of his/her choice along with the options he/she desires. Traditionally all of the boats in our fleet are upgraded with options including radar, chart plotter, autopilot, dodger/bimini, electric windlass, and other features which make boating enjoyable. Some boats include quick docking systems and bow thrusters, roller furling sail systems and additional features to make the boat easy to operate.
How much access do I get?
If you choose to have a double membership and six members on your boat, you would be guaranteed: 2 weekend days and 5 week days each month plus an unlimited amount of sail times when reservations are made within 36 hours of the desired sail time. If you choose to have fewer than 6 members, you would have more access to sail your boat
What is the down payment?
Usually a down payment of 20% of the purchase price is required by the bank providing the loan to the owner member. Some owners purchase the boat outright in cash, while others choose a portfolio line of credit with zero down.
Who arranges financing?
We can refer you to several different resources that are familiar with the SailTime program to ensure proper handling of your application. Of course, you may elect to contact your own source.
Can I meet the members using my boat?
Of course. Our base organizes social gatherings so that members have the opportunity to meet and socialize with one another. We find that the mixers naturally promote greater pride and care for the boats, as well as promote respect amongst the members. Plus, the events are fun!
How can I be sure my boat will be treated properly?
All members are trained by a USCG Captain and ASA Sailing Instructor, Members cannot use the boat until they have passed written and on-the-water exams. We require each member to sign an agreement with provisions that specifically outline the expected usage of the boat, including the care and upkeep that’s expected during their sail.
What are my options at the end of the SailTime commitment?
You may take your boat for your personal use, upgrade to a new boat, re-enter the program, or perhaps sell your boat through our brokerage or another. Our base also operates a captained charter company and sailing school, so owners may continue to earn revenue and enjoy their boat without all of the hassles and expenses for years to follow.
How do I get started?
You’ll work with the base manager to order the boat and we will be on hand to see you through the whole process, from delivery to commissioning and beyond.