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Re: Owner's Time
[Re: GeorgeC1]
#284156
06/09/2022 12:28 PM
06/09/2022 12:28 PM
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Joined: Apr 2019
Posts: 127 Houston, TX
Matt W
OP
Traveler
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OP
Traveler
Joined: Apr 2019
Posts: 127
Houston, TX
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It helps if you tell us what company you will be with. Different companies have different rules on the sale of owners time. Some forbid it completely while others allow a certain number of weeks to be sold. Some allow weeks to be sold only in low season. As far as marketing the classifieds right here are a excellent tool. I am not aware of anyone using a broker to sell time. I sell my time for a fixed rate. I guess I am cheap as the same people buy my weeks year after year. The norm seems to be about 50% of rack rate for your boat. I am probably about 40%. Will send you a PM. G Appreciate it, George. Still early, just starting to look at the different programs.
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Re: Owner's Time
[Re: MIDiver]
#284165
06/09/2022 02:38 PM
06/09/2022 02:38 PM
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Joined: Apr 2019
Posts: 127 Houston, TX
Matt W
OP
Traveler
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OP
Traveler
Joined: Apr 2019
Posts: 127
Houston, TX
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Happy to chat with you regarding ownership with TMM but it is not in any fashion similar to Moorings. Appreciate that! I'll dm you.
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Re: Owner's Time
[Re: Matt W]
#284173
06/09/2022 05:36 PM
06/09/2022 05:36 PM
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Joined: Jan 2016
Posts: 906 Georgia & South Carolina
Deepcut
Traveler
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Traveler
Joined: Jan 2016
Posts: 906
Georgia & South Carolina
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Appreciate it, George. Still early, just starting to look at the different programs.
Look closely and look at the charterer comments on Facebook as well as here. If you are not planning to use it yourself at least 4 weeks per year, I would suggest not ready to buy yet. Programs usually defrays some of the costs of chartering. Years such as Irma (Very Bad) and Covid year 1 effect on charter ownership (Even worse than Irma) should be considered. 2022-2023 appears to be record breaking for all... Hope for years like this for bookings, but base your pro forma on less, much less. (Year 6, second boat) in TMM fleet. As MiDiver stated, TMM is much different program than DYC or Moorings. All programs are different and so hard to evaluate. Happy to discuss as well.
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Re: Owner's Time
[Re: Matt W]
#284199
06/09/2022 09:05 PM
06/09/2022 09:05 PM
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Joined: Mar 2012
Posts: 742 Redmond, WA
MrEZgoin
Traveler
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Traveler
Joined: Mar 2012
Posts: 742
Redmond, WA
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I kind of agree that if you already know you can't use all the time then consider carefully if the program makes sense.
For Moorings at least - as I understand it - you aren't just selling your points... you are still the charterer and it's just your guest that is on board. I'm guessing this works best if you have people you know and trust to charter your boat. I personally don't know any and thus have never been comfortable with the idea.
The distinction may become important when things don't go so well. What if there is major damage to the boat? I'm guessing that Moorings will come to YOU for the deductible and you would have to get yourself re-imbursed by the "guests".
M4000 "Lio Kai"
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Re: Owner's Time
[Re: Deepcut]
#284205
06/09/2022 11:11 PM
06/09/2022 11:11 PM
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Joined: Apr 2019
Posts: 127 Houston, TX
Matt W
OP
Traveler
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OP
Traveler
Joined: Apr 2019
Posts: 127
Houston, TX
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Appreciate it, George. Still early, just starting to look at the different programs.
Look closely and look at the charterer comments on Facebook as well as here. If you are not planning to use it yourself at least 4 weeks per year, I would suggest not ready to buy yet. Programs usually defrays some of the costs of chartering. Years such as Irma (Very Bad) and Covid year 1 effect on charter ownership (Even worse than Irma) should be considered. 2022-2023 appears to be record breaking for all... Hope for years like this for bookings, but base your pro forma on less, much less. (Year 6, second boat) in TMM fleet. As MiDiver stated, TMM is much different program than DYC or Moorings. All programs are different and so hard to evaluate. Happy to discuss as well. Appreciate that...sliding into your DMs.
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Re: Owner's Time
[Re: MrEZgoin]
#284206
06/09/2022 11:27 PM
06/09/2022 11:27 PM
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Joined: Apr 2019
Posts: 127 Houston, TX
Matt W
OP
Traveler
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OP
Traveler
Joined: Apr 2019
Posts: 127
Houston, TX
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I kind of agree that if you already know you can't use all the time then consider carefully if the program makes sense.
For Moorings at least - as I understand it - you aren't just selling your points... you are still the charterer and it's just your guest that is on board. I'm guessing this works best if you have people you know and trust to charter your boat. I personally don't know any and thus have never been comfortable with the idea.
The distinction may become important when things don't go so well. What if there is major damage to the boat? I'm guessing that Moorings will come to YOU for the deductible and you would have to get yourself re-imbursed by the "guests".
Most certainly can't use all of the time, unless I'm interested in a divorce ๐
. Exploring a program we could grow into since we have little kids.
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Re: Owner's Time
[Re: Matt W]
#284207
06/09/2022 11:36 PM
06/09/2022 11:36 PM
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Joined: Mar 2012
Posts: 742 Redmond, WA
MrEZgoin
Traveler
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Traveler
Joined: Mar 2012
Posts: 742
Redmond, WA
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I kind of agree that if you already know you can't use all the time then consider carefully if the program makes sense.
For Moorings at least - as I understand it - you aren't just selling your points... you are still the charterer and it's just your guest that is on board. I'm guessing this works best if you have people you know and trust to charter your boat. I personally don't know any and thus have never been comfortable with the idea.
The distinction may become important when things don't go so well. What if there is major damage to the boat? I'm guessing that Moorings will come to YOU for the deductible and you would have to get yourself re-imbursed by the "guests".
Most certainly can't use all of the time, unless I'm interested in a divorce ๐
. Exploring a program we could grow into since we have little kids. Any more conventional revenue sharing program probably gives more flexibility and less "pressure" to use the boat.
M4000 "Lio Kai"
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Re: Owner's Time
[Re: MrEZgoin]
#284214
06/10/2022 07:15 AM
06/10/2022 07:15 AM
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Joined: Apr 2002
Posts: 6,785 GA/NC
GeorgeC1
Traveler
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Traveler
Joined: Apr 2002
Posts: 6,785
GA/NC
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I kind of agree that if you already know you can't use all the time then consider carefully if the program makes sense.
For Moorings at least - as I understand it - you aren't just selling your points... you are still the charterer and it's just your guest that is on board. I'm guessing this works best if you have people you know and trust to charter your boat. I personally don't know any and thus have never been comfortable with the idea.
The distinction may become important when things don't go so well. What if there is major damage to the boat? I'm guessing that Moorings will come to YOU for the deductible and you would have to get yourself re-imbursed by the "guests".
When you sell time with the Moorings your name is on the contract along with the person actually using the boat. They have the same options regarding insurance ect.. They must have the same qualifications and fill out the same forms as any other charter and have the same insurance options. More than likely they wonโt even be on your boat. Selling owners time and applying it against the note is what makes a leaseback type ownership program work very well financially. A classified add here on TT is a good place to sell time.
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Re: Owner's Time
[Re: Matt W]
#284253
06/10/2022 11:32 AM
06/10/2022 11:32 AM
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Joined: Oct 2013
Posts: 644 Vail, CO/St. Thomas, USVI
caribbeangirl13
Traveler
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Traveler
Joined: Oct 2013
Posts: 644
Vail, CO/St. Thomas, USVI
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I am a current Moorings owner and was listed as an owner on my brother's boat with Sunsail prior to that. Happy to answer any questions and let you know how to sell time. Just PM me. Moorings paid every penny of of our guaranteed income during Covid. My brother was paid for his boat through all of Irma/Maria and the boat actually survived the hurricane. All damaged was repaired and the boat was given back to him in good condition. That boat is now in private charter and he is going to sell and buy a Moorings boat. When I sell owners time I make it clear to the charterer that they are responsible for any damage. I encourage them to buy the daily insurance. I sell my time at about 50% or more off charter fee.
Sue s/v Ripple Leopard 40
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Re: Owner's Time
[Re: caribbeangirl13]
#284257
06/10/2022 12:01 PM
06/10/2022 12:01 PM
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Joined: Jan 2016
Posts: 906 Georgia & South Carolina
Deepcut
Traveler
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Traveler
Joined: Jan 2016
Posts: 906
Georgia & South Carolina
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When I sell owners time I make it clear to the charterer that they are responsible for any damage. I encourage them to buy the daily insurance. I sell my time at about 50% or more off charter fee. Do you have a contract between you and the individual purchasing your time? What is stated in the contract between you and The Moorings regarding selling your time to third parties?
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Re: Owner's Time
[Re: Deepcut]
#284829
06/19/2022 08:59 PM
06/19/2022 08:59 PM
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Joined: Oct 2013
Posts: 644 Vail, CO/St. Thomas, USVI
caribbeangirl13
Traveler
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Traveler
Joined: Oct 2013
Posts: 644
Vail, CO/St. Thomas, USVI
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I don't have a contract with the people I sell my owners' time to. I just book the trip and send them the invoice to show that the trip was purchased. Their name is on the invoice along with my name. The typical contract with Moorings says that owners can sell/give away 2 weeks during low season per year. Sometimes you can negotiate this for more, which is what I did.
Sue s/v Ripple Leopard 40
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Re: Owner's Time
[Re: caribbeangirl13]
#284831
06/20/2022 06:21 AM
06/20/2022 06:21 AM
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Joined: Jan 2016
Posts: 906 Georgia & South Carolina
Deepcut
Traveler
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Traveler
Joined: Jan 2016
Posts: 906
Georgia & South Carolina
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I don't have a contract with the people I sell my owners' time to. I just book the trip and send them the invoice to show that the trip was purchased. Their name is on the invoice along with my name. The typical contract with Moorings says that owners can sell/give away 2 weeks during low season per year. Sometimes you can negotiate this for more, which is what I did. SO there is no contract between you and whoever buys your time. Does the guest charterer sign anything with Moorings or does Moorings just give them the keys without any signature? What does your ownership contract say about damage responsibility caused by your guest? Is the guest required to pay security insurance?
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