Frequently Asked Questions
There are often many questions about sharing a yacht. Here are a few answers to some of the most common questions.
What's the benefit of yacht syndication over buying a yacht?
Buying your own yacht can be a very expensive and daunting task. Financially, it’s a big responsibility to look after the costs on your own. There’s also a large time commitment required to ensure proper maintenance of your vessel. Yachtshare will manage these commitments on your behalf. By becoming a syndicate member, you’ll only outlay a portion of the cost of capital cost. You’ll have access to your yacht to sail throughout the year, but you won’t need to spend precious time maintaining and cleaning your yacht. You can simply enjoy your time out on the water without all the hassle.
How many owners share each yacht?
Each syndicated yacht has a maximum of ten owners participating.
Who actually owns the yacht?
Each yacht is owned by the syndicate members. As an owner, you’ll receive a ‘Certificate of Title’ as proof of your share ownership. Because each member of the syndicate owns equity in the yacht, all has an vested interest to ensure that the yacht is looked after and maintained to the highest standards to preserve the value of the investment.
How long do I need to participate for?
Syndicate owners will typically participate in the Yachtshare program for a period of three to four years. During this time some owners may have had enough sailing, want to purchase their own vessel or want to upgrade to a larger Yachtshare vessel.
We understand that needs and circumstances sometimes change and, in this case, your share can be listed for resale at any time. Yachtshare assists with the promotion of resale shares and works with owners to provide the best possible return on their investment. Owners decide the list price of their share and Yachtshare can offer guidance on market trends and fair valuations. Alternatively, owners can advertise their share independently or sell to a friend or colleague providing the purchaser agrees to the terms of the Yachtshare agreements.
At three year intervals, the syndicate owners have the option to sell their vessel. If the majority of owners agree to sell the yacht, the entire yacht is sold with the net proceeds distributed across the syndicate owners. If the majority agree to continue the syndicate, owners that wish to exit the syndicate may offer their share for resale as above.
How do I book my sailing time?
Yachtshare operates an online booking system that can be accessed through a computer or mobile device. It’s simple to use and will ensure there’s always transparency on when your yacht is available for use.
How many days am I entitled to on my yacht?
Yachtshare has designed an equitable allocation system that allows each owner a minimum of 33 days a year. In addition to 33 days a year, you have the flexibility to take standby days and enjoy more sailing time when your vessel isn’t booked.
The Yachtshare calendar is divided into three trimesters from November to February, March to June and July to October. Each owner is allocated eleven reserved days in each trimester with a ratio of weekend days and weekdays. Owners can choose to book one day at a time or consecutive days up to a maximum of seven days in a single booking. This allocation gives all owners a fair and equal opportunity to make use of their vessel all year round.
Can I change my bookings?
Absolutely! All bookings can be changed within seven days of the booking without forfeiting from your allocation.
Are there any rules or restrictions I should be aware of?
In addition to marine regulations and navigational requirements, all owners abide by a common set of owner usage rules. These commonsense rules govern the usage of the vessel to ensure that the yacht is operated in a safe and considerate manner at all times.
Who can operate the vessel?
The yacht may only be operated by an accredited skipper. The owner may nominate additional accredited skippers but the owner is ultimately responsible for the safe operation of the yacht. All accredited skippers must undergo an induction and training program in accordance with the Yachtshare usage rules.
Can I have an animal on the yacht?
For the consideration of all owners, animals are not permitted on any of the vessels.
Where are the yachts based?
The Yachtshare fleet is based at the Royal Queensland Yacht Squadron in Manly Boat Harbour, Brisbane, QLD. The Squadron is Queensland’s premier yachting club with a coveted history in the sport of sailing. Matched with superb facilities and a thriving sailing community RQYS offers the ideal location for the Yachtshare fleet.
Manly Harbour is one of the largest boat harbour facility in the Southern Hemisphere, with over 3,000 dry standings and wet berths. The precinct has great facilities and dining options with easy access to some of the best sailing grounds and destinations on the east coast of Australia.
What if I live interstate or overseas?
Many of our owners live interstate and overseas and choose to take advantage of the perfect and reliable weather of South East Queensland. Manly Harbour is easy to access from Brisbane Airport with shopping facilities conveniently located nearby. We have owners that fly from Melbourne, Adelaide, Darwin, regional Queensland and even Korea to use their yacht so living interstate or overseas is not a huge obstacle!
Are there any additional costs?
Two days professional sail training with a RYA accredited sailing instructor is mandatory with our sailing yachts. One day is required with motor yachts. The cost is $500 per day per boat, and up to four accredited skippers can be trained at a time.
The monthly service fee covers known service and maintenance tasks and includes items and services such as berthing, registration, insurance, engine servicing, cleaning, refuelling, anti-fouling and yacht management.
Owners in our sailing yachts are charged for diesel usage at $6 per engine hour. While you are under sail, diesel is free!
Motor yacht owners are charged monthly using the onboard fuel monitor. Fuel usage is monitored and charged per litre based on the current fuel prices. This allows motor yachts owners the option to choose their preferred speed and fuel efficiency.
Owners are individually liable for any damage attributed to their usage of the vessel. However, damage above $2000 in value is covered by the yacht’s insurance policy. An insurance excess may apply.
Where an item requires replacement due to wear and tear, the cost of the item is amortised across the syndicate owners. An example of a wear and tear item is the replacement of a battery bank or a tender. These items typically require replacement every three to four years. By splitting these costs between ten owners, the outlay is kept to a minimum for each owner but everyone in the syndicate benefits.
Who pays for improvements to the yacht?
From time to time, owners may request improvements to their yacht. This might include additional sails or updated electronics. A proposal is distributed to all owners for consideration and, if owners are agreeable, the cost is amortised across the syndicate owners. In the unlikely event that there is disagreement between owners, Yachtshare will endeavor to find a comprise between the owners or abandon the improvement. Yachtshare is independent and acts in the best interest of all owners.
Can I rent a yacht in the Yachtshare fleet.
All of the Yachtshare fleet are privately owned and can not be used for commercial or charter purposes. This ensures that only owners and accredited skippers are using the vessel rather than strangers or inexperienced operators.
I've never sailed before. Can I learn with Yachtshare?
Yes! Yachtshare is the ideal way to get into sailing regardless of your boating experience. We offer a comprehensive RYA accredited training program with the purchase of your share. The cost of the induction and training is $1000. Yachtshare will hold your hand through the induction process to ensure you are confident using your vessel. We are always available to assist owners with their yacht and the Yachtshare is happy to go out with you for your first few trips to build confidence. Additional training and accreditation can also be purchased through our RYA training providers.
Can I stay on the boat overnight?
Absolutely! You can book consecutive days and take advantage of the many wonderful overnight anchorages in the region. The yachts are equipped with pillows and blankets so you just need to bring linen (bottom sheet, top sheet and pillow case) to enjoy the serenity of being at anchor at night. Some vessels have an optional linen service available for a fee.
Where can I take my yacht?
It is your yacht so you are free to take the yacht to any safe and navigable waters within the time constraints of your bookings.
Moreton Bay provides all year round sailing conditions which ensure that owners have the maximum opportunity to get out on the water. It is the ideal cruising ground with destinations such as Tangalooma, Horseshoe Bay, North and South Stradbroke Islands and the Broadwater. Moolloolaba is also an easy option for blue water sailing with overnight berths available for rent at the spit.
Imagine the possibilities!
Where else can I take my yacht?
Yachtshare periodically puts out expressions of interest to owners that are considering excursions further afield. Cooperating owners can book the boat back to back and temporarily relocate the yacht in another location within the time frame of their bookings. Because of back to back bookings, owners that do not participate in the excursion are not adversely impacted.
Through the collaboration of owners, excursions to locations such as the Whitsundays/Hamilton Island, the Keppell Islands, Hervey Bay and the Great Sandy Stait are all within the realms of possibility. When a majority of owners are involved in an excursion, Yachtshare can arrange berthing, cleaners and maintenance providers in the visiting marina.
The best part is that you’ll be sailing these locations on your own yacht, that you have experience with, rather than taking your chances on a charter or rental vessel. What’s more, the weekly cost of chartering of yacht is roughly the same cost as a full year of services fees with Yachtshare!
Here are some stories from our yacht’s adventures.
What do I have to do at the end of a sailing trip?
Owners simply need to tie up the boat, close the sailbag, connect the shorepower, remove any personal items or rubbish and lock the boat. Our professional cleaning team will arrive to wash down the decks, detail the vessel after every use and prepare the vessel for its next outing.