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 a shareowner or 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.
Your yacht is for private recreational use and can be rented or chartered.
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?
What if I live interstate or overseas?
Are there any additional costs?
Who pays for improvements to the yacht?
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.