How to choose the Right Platform to Rent Out Your Yacht
For yacht owners looking to generate income, deciding where to list your vessel is crucial. Should you go with a global yacht charter platform like Boatsetter or Click&Boat for maximum exposure, or opt for a niche platform to target a more specialized audience? Each approach offers distinct advantages and disadvantages in terms of reach, management, and profitability. This article explores both options, helping you determine the best strategy for renting out your yacht based on your goals, involvement, and location.
Boatsetter
Boatsetter is one of the largest peer-to-peer boat rental platforms, offering a global marketplace for yacht owners and renters. Their platform provides comprehensive services, including insurance coverage, marketing, and full-service management to make the process as hands-off as possible for owners.
Pros:
- Global Reach: Boatsetter connects your yacht to renters from around the world, ensuring more frequent bookings, especially if your yacht is located in high-demand areas like the Mediterranean or Caribbean.
- Insurance Included: Every rental is covered by Boatsetter’s insurance policy, partnered with GEICO Marine, providing on-water assistance and liability protection for yacht owners.
- End-to-End Management: Owners can rely on Boatsetter to handle bookings, customer service, and maintenance, making it ideal for generating passive income without much involvement.
Cons:
- Commission Fees: Boatsetter typically takes a 20-30% commission per booking, which can reduce profits. However, this fee includes full management and insurance, making it worth the cost for many owners.
- Limited Control: Owners won’t have direct control over who rents the yacht, as Boatsetter manages vetting and booking processes.
Click&Boat
Click&Boat, often referred to as the “Airbnb of the Seas,” specializes in peer-to-peer yacht rentals and operates in over 50 countries, with a strong presence in Europe. Click&Boat connects private yacht owners with renters, offering a wide range of vessels from sailboats to luxury yachts.
Pros:
- Wide Variety of Services: You can list your yacht for a bareboat charter for experienced sailors or offer a skippered option for less experienced renters, broadening your market reach.
- Price Transparency and Control: Click&Boat allows owners to set their prices, negotiate directly with renters, and offer additional services like crew or cleaning for extra income.
- Targeted at European Markets: Click&Boat has a strong presence in Europe, which is an advantage if your yacht is located in or near popular European destinations.
Cons:
- Commission Fees: Like Boatsetter, Click&Boat charges a 20-30% commission per booking, which can impact net earnings.
- High Competition: With over 30,000 boats on the platform, standing out can be challenging, and excellent reviews and marketing may be needed to maximize bookings.
Boataround
Boataround is a growing player in the yacht charter market, offering a wide selection of boats in over 60 countries. It appeals to both budget-conscious renters and luxury travelers, making it a versatile option for yacht owners looking to attract a diverse range of clients. Boataround is particularly popular in Europe but is expanding its global reach.
Pros:
- Global Reach with a Focus on Europe: Boataround provides yacht owners with access to a large international audience, particularly in Europe. This is beneficial for yachts located in high-demand regions like the Mediterranean.
- Lower Commission Fees: Boataround typically charges around 15% commission, which is lower than its competitors, allowing owners to retain more of their earnings.
- Flexible Listings: Boataround allows owners to customize their listings, offering bareboat charters for experienced sailors or skippered charters for less experienced clients, providing flexibility in attracting renters.
Cons:
- Limited Brand Recognition: Although Boataround is expanding, it lacks the brand recognition of platforms like Boatsetter or Click&Boat, which may result in fewer bookings in competitive markets.
- Marketing Involvement: Owners may need to invest more effort in promoting their listings, as Boataround does not have the same marketing reach as larger platforms.
Best For:
Boataround is a strong option for yacht owners who want to maintain a higher percentage of their profits due to lower commission fees. It is particularly beneficial for yachts located in popular European destinations, where Boataround’s audience is strongest. However, additional marketing efforts may be needed to ensure consistent bookings.
Niche Yacht Charter Management Companies
For yacht owners seeking a more tailored approach to renting out their vessel, niche yacht charter management companies offer specialized services that are often more targeted than larger platforms. These companies typically focus on providing high-quality services, such as bespoke itineraries, luxury experiences, or catering to specific regions. Here are some top niche platforms to consider:
Boatsters Black
Boatsters Black is known for its high-end charter management services, focusing on personalized, luxury experiences. The company handles everything from crew selection to marketing and logistics, ensuring yacht owners have a hands-off experience. Their digital approach, combined with hands-on management, allows owners to attract high-net-worth individuals looking for bespoke voyages.
Pros:
- Tailored Service: Boatsters Black provides a highly personalized service, from crew recruitment to creating custom itineraries for clients.
- High-End Marketing: Their multi-channel marketing ensures that your yacht gets premium exposure, attracting a high-end clientele.
- Full Management: Owners don’t need to worry about day-to-day tasks, as Boatsters Black handles logistics, charter licensing, and berthing arrangements.
Navigare Yachting
Navigare Yachting offers comprehensive yacht management services, combining the reach of a large charter fleet with local expertise in over 10 countries. Their platform is particularly known for its customer-focused approach, ensuring a high-quality guest experience. Owners benefit from a fully integrated management system, including their proprietary Navigare App, which simplifies management tasks such as check-ins and monitoring bookings.
Pros:
- Peace of Mind Guarantee: Navigate Yachting offers full protection against accidental damage, providing a stress-free rental process for owners.
- Strong European Presence: Navigate Yachting operates in popular European charter destinations, making it an excellent choice for owners in this region.
- Innovative Technology: Their Navigare App streamlines administrative tasks, offering owners real-time information about their yachts and bookings.
Fraser Yachts
Fraser Yachts is one of the most respected names in the industry, offering a wide range of services, including yacht sales, chartering, and management. With a reputation for quality and a team of multilingual professionals, Fraser Yachts is a trusted partner for yacht owners. Their marketing team works closely with charter managers globally to ensure that yachts receive maximum exposure to the right clientele.
Pros:
- Global Exposure: Fraser Yachts ensures your yacht is marketed to a worldwide audience through strategic collaborations with other brokers and their strong marketing team.
- Quality Control: All rental inquiries are carefully screened, ensuring that your yacht is rented by responsible clients who will take care of your vessel.
- Comprehensive Service: From charter bookings to crew management, Fraser Yachts offers a full-service package for yacht owners.
Bluewater Yachting
Bluewater Yachting has been a leader in yacht charter management since 1991. They offer a unique service that integrates yacht sales, chartering, and crew training under one roof. This seamless approach allows yacht owners to trust that their vessel will be handled by professionals who are well-versed in both chartering and crew management.
Pros:
- Comprehensive Packages: Bluewater offers fully customizable management packages, allowing owners to select the services that best meet their needs.
- Crew Training: They are the only major company that trains their crew in-house, ensuring that the staff on your yacht is highly qualified.
- Global Marketing: Bluewater Yachting provides global marketing support, ensuring your yacht receives attention from the right clientele worldwide.
IYC (International Yacht Company)
IYC focuses on superyacht management, offering world-class service and expertise. Their team includes former captains and engineers who understand the complexities of managing a large yacht. IYC also operates a Fleet Operations Center, providing real-time monitoring of all yachts under management, ensuring maximum safety and compliance.
Pros:
- Technical Expertise: IYC’s team of experienced captains and engineers ensures that your yacht is managed by experts who understand the intricacies of superyacht operations.
- Real-Time Monitoring: Their Fleet Operations Center allows for 24/7 monitoring of your yacht, ensuring it is always compliant with safety and regulatory requirements.
- Tailored Management: IYC provides bespoke management solutions tailored to the needs of each individual yacht owner.
Scenarios: Which Option is Best for You?
1. High-Involvement Owners Looking for Maximum Control
If you want full control over who rents your yacht and how it’s managed, a niche platform might be the best option. You’ll benefit from lower fees and direct interaction with renters, targeting a specific audience who will value your yacht. However, you’ll need to invest in marketing your listing to ensure steady bookings.
2. Passive Owners Seeking Hassle-Free Income
If you prefer a hands-off approach, global platforms can be better suited for you. These platforms handle everything from bookings and payments to insurance and customer service. While commission fees are higher, the convenience and peace of mind they offer make it worthwhile for many owners.
3. Yachts in High-Traffic Locations
For yacht owners based in popular destinations like the Mediterranean, Caribbean, or U.S. East Coast, global platforms like Boatsetter and Click&Boat offer high visibility and increased booking opportunities during peak seasons. Their large audiences and extensive marketing efforts ensure that your yacht is seen by renters worldwide.
Conclusion: Finding the Right Balance
The best platform for renting out your yacht depends on your level of involvement, desired profits, and your yacht’s location. Global platforms like Boatsetter, Click&Boat, and Boataround are ideal for convenience and exposure, though they come with higher fees. Meanwhile, niche platforms offer more control and lower costs but may have a more limited audience.
For some owners, a combination of both might be the best strategy—listing on a global platform for volume and visibility, while also using a niche platform to attract high-value, long-term renters. By carefully considering your needs and goals, you can choose the best platform to ensure your yacht generates reliable income while reaching the right audience.