What if the yacht is damaged whilst on charter?
Historically, damage has not been a major problem. However, as with all sailing either by a Charterer or Owner, there is a possibility that damage might occur. If it does occur, as a result of the actions of the Charterer, the necessary repairs will be paid for out of the Charterer's security deposit. In the unlikely event of major damage this will be covered by the vessel's insurance policy.

Will my yacht be worth less because it has been on charter?
It depends on the maintenance program in operation. Solent Yacht Charter insist that the vessel is maintained in excellent condition and give the hull and deck particular attention for minor blemishes and have them removed on a regular basis. The hull will always start the season blemish free. In this way we can keep a tight reign on any blemishes, which might occur and have them removed accordingly. From previous personal experience we have found our vessels to be easier to sell, because the vessels are better maintained and are sold as charter boats together with an income to help pay their mortgage.

How do I get my boat to comply with the MCA Code?
v Over the years we have “coded” a vast number of vessels to comply with the MCA code. Although this code can appear daunting we have become very adapt at taking a new boat from the supplier and obtaining a charter license, swiftly and efficiently. Collecting the vessel from the supplier to handing over to the owner fully commissioned and coded usually takes two weeks.

How often will I be able to use my boat?
Officially you are entitled to three weeks use per year but when the boat is not being used for charter it will automatically revert to Owner's use. However the more Owners use their vessel the less income they will derive from chartering it. A few Owners prefer to book their time at the beginning of the season but most are more flexible. We assume the vessel is available for charter at all times unless previously notified by the Owner.

How much of the maintenance do I have to undertake and pay for?
Solent Yacht Charter maintain the boats during the season and employ a fleet manager to oversee the work, specialists are called in where required. Maintenance is billed to the Owner as wear and tear, unless they are the fault of a particular Charterer (see question 1.) We also like to run a comprehensive program of winter maintenance to prepare the boats for the following season; Owners will be advised of their options in the autumn. Having said this, some Owners like to come and do maintenance work as it helps them keep in touch and feel more at home with their boats when they come to sail them.

How long can I charter my yacht for?
Usually the sensible life of a charter yacht would be five years. The MCA code last for five years and as the boat gets older the income tends to drop slightly and the maintenance tends to increase slightly, thus the gap between the income and expanses tends to become larger in by year five.

How can I increase my charter income?
Over the years we have found the matched fleets do produce a higher income. Our corporate clients tend to prefer events placed on a fleet of matched boats. As corporate events tend to be mid week and fully skippered with crew, they do represent a very good form of chartering. Currently we operate three matched fleets:
Jeanneau 37’s
Jeanneau 40’s
Bavaria 46’s

Who insures my boat?
As you are the Owner, the policy is in your name with our charter interest noted on the policy. This policy comes under the Solent Yacht Charter scheme with our insurers. As we have been using the same insurances company since 1993 we have built up an enviable claims record, which had enabled us to offer one of the most competitive rates for commercial insurance in the business. A good method of judging the efficiency of a charter management company is to ask for an insurance quote. This quote normally will be directly related to the claims record of the company!

Can I reclaim the VAT back on the purchase price of the boat?
Historically our Owners have been able to reclaim the VAT back on the boat purchase price of a new boat when the yacht is operated as a commercial venture, however this is a complex area and should you wish for further details please consult with our Solent Office.

What happens if I find a charter for my own boat?
Under these circumstances, once we have been informed of your client’s details we will manage the charter as normal but we reduce our commission accordingly. However we do insist on being the sole manager for the yacht as from past experience we have found operating along side agents is fraught with problems in maintaining the yacht.