anyone in a partnership with their boat?

[Digger]

I am kicking around the idea of going into a partnership with another person who owns a boat.

any input from anyone would be a big help

[WHEATDOG]

What size? Pleasure or charter?

[fshsltwtr]

i wouldn't say partnership as much as boat rights. two boats where i help with expensese(fuel, insurance, docking, etc), maintenance(spring and winter) and i have keys to use whenever i please. i didn't have to cough up any $$ to buy the boat, so this isn't really a partnership. in a sense, you could say i lease the boat, but not really. if that makes any sense.

It works great for me, but problems do exist...ie, the boat is being used when i want to use it; since it's not my boat, my buddy does lend the boat to others that don't respect the boat as i would...ie, they leave the tank empty and the boat dirty after use. you know, those sort of things. I get frustrated, but it's not my boat, so i have no right to *****.

All and all, the arrangments i've made have been an excellent way for me to get out on the water from Boston Harbor, down to Cape Cod and over to LI Sound....without the huge expenses associated with being a boat owner.

[Deep C]

Partnerships show promise on one side but also can be a real headache on the other side. All the getting in writing doesn't seem to counter balance actual usage. If the usage is lopsided with one side or another using more than the other issues arise. I have been in partnerships that went pretty well. Then some don't pan so well.
I use for example... if one guy runs the boat a lot and runs it hard, then blows an engine, things can get ugly in a hurry. Ive seen one side of the partnership wanting to do proper maintainence and the other side wanting to cut corners. Scheduling can and does become an issue. Partner A wants to run to the canyon and partner B's wife wants to go on a ditch cruise to watch some fireworks. Even if schedules are worked well in advance what if the weather isn't cooperating with one side or anothers allotted time? What if the canyon bite goes on fire when its not that persons turn?
Who does the maintainence labor can be an issue unless that is worked out well in advance. To make partnerships work implicit fait in each other is essential. Though not through personal first hand experience, I do know a lot of relationships especially between "friends" get strained to the point of blowing apart.
Think of best buddies for years becomming room mates. The one snores or farts in his sleep. The other doesn't do the dishes or leaves the ac set real low. That kind of simple stuff creeps up. Go slow and careful into a partnership...

[Reel Happy]

I can't agree more with the Deep. What he says is right on. I know this from experience. A partnership can be great and allow both parties to afford more boat. I own half of 28 Carolina Classic with the other half belonging to my father. More boat than I could ever afford to own and operate on my own. We fish offshore mostly and most of the time both of us are on the boat.

My dad and I get along well and agree on alot of things but still have some differences. The biggest advice I can give is make sure that you and the other party can talk about your opinions honestly. If you can tell your buddy when you think he is dead wrong and he can listen and not get upset then you will do fine and reap the benefits of splitting all the costs.

Oh yeah -- the listening thing goes both ways. I like to tell more than I like to listen but my dad understands because I learned from the best. In all reality though we both spend alot of time considering the others ideas and opinions.

You will find out how well you get along the first time she hits the dreaded shallow..

[Digger]

i wouldn't say partnership as much as boat rights. two boats where i help with expensese(fuel, insurance, docking, etc), maintenance(spring and winter) and i have keys to use whenever i please. i didn't have to cough up any $$ to buy the boat, so this isn't really a partnership. in a sense, you could say i lease the boat, but not really. if that makes any sense.

It works great for me, but problems do exist...ie, the boat is being used when i want to use it; since it's not my boat, my buddy does lend the boat to others that don't respect the boat as i would...ie, they leave the tank empty and the boat dirty after use. you know, those sort of things. I get frustrated, but it's not my boat, so i have no right to *****.

All and all, the arrangments i've made have been an excellent way for me to get out on the water from Boston Harbor, down to Cape Cod and over to LI Sound....without the huge expenses associated with being a boat owner.

This is about the same situation that I am looking at, I have a 32 center console that I will sell, and I will contribute to the upkeep and expences on a 38 ft sportfish used just for pleasure. I would offer to pay for dockage (Fl and NJ) insurance, half the fuel and tournament expences when we both fish tournaments, and keep the boat fish ready. the other person is the owner of the boat who does not have time to keep the boat fish ready.

[Ace1st]

Tried it twice. Both good friends. Didnt work. First time was a john boat used for duck hunting. My partner never put fuel in it or told me that he had tore something up when he used it. Came time to fix, couldnt afford it at the moment. Sold out and tried with another, this time he wouldnt clean it when he finished with it, once left an entire livewell full of pogeys for a week. Oh I'm sorry........too many beers that day, well come clean now. Uh........I gotta go to my Mother in laws, sorry!! Personally, I wouldnt do it again. Wanna ruin a perfectly good friendship, loan them money or get in a partnership on a boat. Good Luck!!

[Kahi]

I'm not sure if the rules apply to commercial operations or any sort of professional fishing partnership but I have had a good exerperience. We set the ground rules and put them on paper. All Fixed Expeneses (Insurance, Loan, Dock) are agreed upon. Any aditonal expenses such as repairs are split on the month the bills arrives. We pay a bit more for a cleaning service, and that alleviates the issues that most partners have with getting a filthy boat on their days. Gas seems to have been the biggest problem with most people, so we set an always full tank rule. Use the boat, fill her up to full. It also stops condensation in the tank. I hope this helps.

K

[hubris 1]

how many guy,s can have TWO wives? ..........and be happy!

[Banshee]

I am in a partnership its working out great, I do all the maintence, repairs. My partners never ever complains.
The best kind of partner With the Bank.
JW