Can I become a charter yacht owner?
Will chartering cover all my yacht's expenses?
As a general rule, charter income should cover most of the
cost of dockage, insurance and routine maintenance, but not all.
Your charter proceeds may also contribute substantially to your
yacht's P&I payments. No matter what, charter yacht ownership
produces income that would not be there under private ownership.
What are my "operating" expenses?
Your expenses are basically the same as those of private yacht
ownership. Dockage, insurance and maintenance are fixed costs,
whether the boat is in charter service or not. There are no
"hidden" costs such as advertising, marketing, commissions, or
"turnaround" fees. Samos Yachts pays for all of those.
What will my charter income be?
You will receive 50% of the gross charter revenues on your
yacht. Other companies will pay me 70, 80, or even 90% - What
about that? Reading the "fine print" will show that you will be
charged for such things as advertising and marketing on a
percentage basis, toll-free calling and office overhead, and/or
cleaning and "prep" fees to make your boat charter ready. The
net result is that your "90%" is reduced substantially by all
these other costs.
When do I get paid?
You receive your revenue check at the end
of the season along with an Activity Report detailing each
charter and/or class for each season.
What about dockage?
You are billed for dockage charges on a monthly basis. As a
general rule, private dockage charges range from $8.00 to $10.00
per foot per month. Samos Yachts receives a commercial rate for dockage,
and we pass the savings along to our yacht owners. Current
dockage rate information is available upon request.
What about insurance?
Samos Yachts maintains a fleet yacht policy which includes full hull
coverage, $300,000 liability, Confiscation and Breach of
Warranty coverage. Our rates are among the lowest in the
industry. Current insurance rate information is available upon
request.
What about the tax benefits?
The Samos Yachts programs are designed and intended to successfully
operate independent of tax benefits. There are still significant
tax advantages to owning a charter yacht. Your charter revenue
is offset by deductions for operating expenses, depreciation and
interest deductions. Yacht chartering is usually considered a
"passive" activity. We recommend you consult your tax advisor to
discuss your particular situation.
Do I have to buy a new yacht?
Whether you plan to purchase a new or previously-owned yacht for
placement in our charter program, we will work closely with you.
In order to place a new or pre-owned yacht in the Samos Yachts
program, we must act as your broker in handling your purchase.
This will insure that the yacht you are purchasing will be
marketable from a charter perspective and will be fully equipped
for charter service. We will also insure that you are getting
the best value for your money in the boating marketplace.
What about financing?
Up to 100% of the purchase price of your new charter yacht may
be financed through a bank or marine lending company. However,
as a general rule, a down payment of 20% for new yachts and 25%
for used yachts is usually required. If you are financing your
yacht and need direction, please contact our office. We have a
list of marine lending sources which will be made available to
you. You may wish to call a number of different sources to
request current rate information, applications and loan
requirements.
What if I already own a yacht that I want to charter?
Prior to being accepted into the Samos Yachts program, your yacht will be
inspected for its charter ability, equipment and overall
condition. You will receive a proposal concerning necessary
maintenance and additional equipment which will be required for
charter service. In addition, a one-time Management Fee of
€1.000
is charged to cover the cost of handling the boat's entrance
into the fleet. This fee is applied to initial set-up,
advertising and promotion of your yacht as part of the
Samos Yachts
fleet.
How do I know my boat will be well-maintained?
Check us out. We encourage you to check our current yachts. In addition, you
may inspect your yacht at any time. We are available seven days
a week to discuss your yacht's maintenance program and to answer
any questions you may have.
How much does this maintenance cost and when do I pay for it?
Samos Yachts will maintain your yacht at rates approximately 20% less
than commercial rates. Most maintenance is performed by Samos
Yachts
personnel for two reasons: to keep your expenses down, and to
insure continuity of maintenance by marine professionals. Our
staff will take care of every aspect of your yacht's maintenance
program, from varnishing to oil changes; from rigging to annual
haul out; and from installation of equipment to de-commissioning.
What if I want to use the boat?
Just give us a call. We'll have your yacht ready for you. We ask
that you give us as much advance notice as possible. Should we
receive a request for a charter during your planned vacation
time, we will advise you of that request and allow you the
opportunity to change your cruising plans in order to maximize
your charter revenues. If you are unable to alter your vacation
dates, we will refer the charter request to another yacht in our
fleet. Due to the demands of our busy summer season, we ask that
owners not "block out" personal time for more than two weeks at
one time between May 15th to October 1st of each year. There is no
limit on the amount of time you may use your yacht each year.
However, we suggest you avoid peak charter weeks such as
holidays.
What if I want to sell my yacht?
We can help. We offer complete in-house brokerage services to
handle the sale, from marketing to closing. We advertise in
national boating publications. An added bonus is the fact that we know your
yacht. We can provide complete maintenance records to any
prospective owner. Your charter contract may also be transferred
with the sale of the boat, should the new owner choose to leave
the yacht in charter service . Furthermore, your yacht can
continue to earn charter revenues while she is being marketed
for sale.
Should I investigate other companies?
Absolutely. Visit all of the companies you are considering. Ask
questions. Observe their operation. There is often a vast
difference between a "slick" sales brochure and close, personal
inspection. We invite you to compare Southwest Florida Yachts to
any other charter company. We are sure you'll agree that we're
hard to beat!
What type of boats can I place into
your program?
Samos Yachts offers the full-line of Jeanneau sailboats monohull
from 32 feet up to 54 feet, for charter fleet placement.Also
Catamaran yachts ranges from 30 to 50 feet. All offer comfort,
performance and reliability at a reasonable price; and have a
strong re-sale value. Both lines have been proven to hold up
well under years of extensive charter use.
Samos Yachts is also interested in placing more catamarans into
our charter service. We are particularly impressed with the
Lagoon line of catamarans, which we have
had great success with in our charter program, and we would
welcome more new Mantas catamarans.
Where will my yacht be berthed?
Samos Yachts offers all its yachts from Samos and Kos Island In
Greece
• Pythagorio harbor in Samos Island
• Kos Island Marina
Each location has its own charm and you can move around to
different fleet locations from one year to the next and
experience them all.
How long am I obligated to remain within the program?
It's up to you, our program is designed to be flexible and our
management agreement is renewable annually. If ever you change
your mind and want to take your yacht out of charter service, no
problem, just give us 60 days written notice between 01-09 until
01-11. Typically, yacht
owners remain in our program an average of 5 years.
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How to own a yacht… without it
owning you!
If you have ever dreamed of owning a yacht, but found it hard to
justify the cost; then consider the advantages of Samos
Yacht's innovative Yacht Charter Ownership Program. This program
has assisted many boat owners in making their dreams come true.
While our clients have different goals, Samos Yacht's charter
ownership program offers the ultimate in flexibility, and can be
customized to fit your particular needs. There are many good
reasons for considering Samos Yachts charter ownership
program.
Is it right for you?
To determine if it's right for you, ask yourself the following
questions: Would you like to have your boat berthed in one of
the most desirable cruising grounds in the world (Aegean Sea
Greece), yet one which
is also conveniently located? Would you like to earn charter
income to defray or even exceed the operating expense? Would you
like to have your boat professionally maintained? Would you like
to own a larger yacht than you might otherwise be able to
afford? Would you like unrestricted use of your boat? Is your
free time limited, so that you may only use your boat on an
occasional basis? Do you like the idea of charter ownership, but
don't want to be locked in for a long-term contract? Would you
like to get boat ownership tax benefits, including a sales tax
exemption on the purchase price? Would you like an investment
the whole family can enjoy, now and for years to come? See how
our Yacht Charter Ownership Program can take the hassle, (not
the fun!), out of yacht ownership.
We go the distance
Samos Yachts sells only quality Jeanneau sailboats and into our charter fleet - yachts especially built and
outfitted for chartering so they maintain their value through
the years. Samos Yachts extends that value by keeping our new
boat pricing competitive. We do not inflate the purchase
price for charter fleet placement like some companies do. We
offer affordable financing and insurance programs, along
with reliable service. Your new yacht will be fully
commissioned and launched by our service department, which
will be happy to handle any warranty paperwork or equipment
modifications you may desire. Both have low maintenance
requirements, and are fun and easy to handle - ideal qualities
for a popular charter yacht.
Earn charter income
And popular is what your yacht will be. Your yacht will be
aggressively marketed by our staff at boat shows, through a
network of international charter brokers and in national boating
magazines, at no expense to you. Constant, well-targeted
advertising and a choice of spectacular locations assures that
your yacht will be in high demand.
Maintenance
One of the integral features of Samos Yachts ownership program is that
your yacht will receive excellent care. Our service technicians
are especially diligent in maintaining your yacht. Before and
after each charter, your yacht is thoroughly inspected
(including an underwater dive inspection) and cleaned, at no
charge to the owner. Reasonable routine maintenance, (time and
materials) are clearly itemized using a computerized work order
system and deducted from the monthly charter income. A schedule
of engine service, oil changes and other routine maintenance is
logged and Owners are consulted on any additional maintenance
items as they arise. Items lost or damaged by charter guests are
replaced or repaired at no cost to owners
Flexible one-year contract
Our Charter Management Contract is straight-forward and easy to
understand. It is flexible and can be renewed annually for up to
five years. That means if next year you want to take that long
cruise in the islands, no problem! If you want to take your boat
"west" for the summer, no problem! And if, in a few years, you
decide to sell your boat, our experienced yacht brokerage staff
will be happy to list it for you, or take it in trade on your
next new boat!
No gimmicks
We have a simple, clear business relationship with each of our
owners. We do not try to cleverly disguise the expenses of yacht
ownership, such as insurance and maintenance by inflating the
purchase price of your yacht, requiring a huge down payment or
increasing the management fees. We split the net charter revenue
50\50 with each owner, which is our primary source of income.
Samos Yachts pays for all advertising; administration;
accounting; cleaning and inventorying of the yacht; charter
check-outs/orientation; in addition to providing year-round
staff and office facilities at each charter base. The owner
pays for dockage, insurance and routine maintenance.
Free sailing certification
When you purchase a new yacht for placement in our charter
fleet, we'll teach you to sail her or help you improve your
sailing skills so you get the most enjoyment from your time
on board (and a nationally recognized sailing certificate).
Choice of fleet locations
It's hard to imagine a more desirable cruising grounds than the
Samos Island or Kos Island in the Mid Eastern Aegean
territory. Where else can one find traditional Greek
taverns,
beaches; turquoise waters; romantic moonlit anchorage's and
first class marina facilities; all so close to home, yet so far
from the hectic pace of modern civilization?
What sort of return can I expect on my investment?
The first return you will enjoy is that of endless enjoyment!
And, quite honestly, owning a boat has never been a sure-fire
money-making proposition, either owned privately or in charter
service. However, if you compare the actual costs of private
boat ownership with charter boat ownership, you'll see that the
expenses of owning a boat are about the same. Thus, charter ownership
makes sense, since the cash flow generated by chartering is on
average, sufficient to cover your monthly expenses. The average
Samos Yachts charter vessel is rented around minimum 8 weeks per
year (season from 1st May until 30th October), allowing for 2-3
weeks of owner's use. At worst, it significantly offsets.
What sort of tax benefits are available to
yacht owners?
Owning a boat in charter service has a variety of potential tax
benefits, depending to some extent on your own personal
financial situation and also to laws existing in the country of
your origin. We at Samos Yacht do not profess to be
"tax experts" and caution you to consult your personal tax
advisor prior to investing. However, it is our understanding
that many tax deductions may apply to charter
ownership according to Greek laws.
What about insurance?
All vessels in the Samos Yacht's charter fleet are insured
under the most reliable Hellenic insurance firms which provides coverage to the owner,
Samos Yachts and the charter guests.
Insurances
cover:
Physical
damages / Death from accident on board
Damages on Yacht
Sea pollution caused
by yacht/crew
Insuranse coverage
limits: € 300.000
After the program ends, what do I do with my yacht?
You have several options: We'll be happy to take it in trade on
your next new boat to be placed into charter service; we can
broker it for you if you decide to sell it; or you can retire
and go cruising!
How do you determine whether someone is competent to
bareboat charter my boat?
The Samos Yachts reservation staff receives a copy of the
skippers license from each prospective charter skipper, detailing his
or her rank personal details and qualifications; including
references who are called to confirm the skipper's experience.
The applicant must demonstrate prior charter, boat ownership or
an extensive cruising history. Upon arrival at Samos Yacht,
the charterer is given a complete orientation onboard the yacht
and a review of all systems and safety items, and a chart
briefing. If there is any doubt as to the skipper's ability to
safely handle, a Hellenic Naval licensed skipper is required to
accompany the charterer, paid for by the charter party. For more
information regarding our Charter Ownership Program, please
call us at
+302273061739 or contact us at samosyachts@samosyachts.com.
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