What Should You Look For In Your Boat Share Agreement In Sydney

Have you wanted a vessel for as long as you can remember? A boat share in Sydney could be just the ticket. The problem is that most people aren’t sure of what should be in their contract or agreement, and wonder if they’re getting the best deal.

How It’s Owned

Each syndicate has their own rules for ownership, but most of them stick with eight shares of one vessel. You and seven others own a part of the ship, and in some cases, you can own more than one share, which means you may have more opportunities for use.

Maintenance

One of the best reasons to consider a boat share in Sydney is that maintenance, refuelling, and storage are taken care of for you. However, it’s still important that you know what is covered, and how. For example, how are these costs covered? Likewise, there is a lot of maintenance to keep up on with a vessel, so you should get an itemised list for clarification.

You may also want to consider requesting an list of anticipated costs, such as registration, training, licensure and the like.

Contribution By Members

Each person is going to be paying for their part of the boat, including maintenance, upkeep, repairs and so on. Insurance and storage fees will also be included in your boat share agreement in Sydney. Therefore, it’s important that you determine what your costs will be, as well as the other shareholders’, to make sure it is fair. You may also be required to pay for fuel separately and may be able to choose how often you pay, depending on the time of year and your usage. Contact Luxury Boat Sydnicates, for more details.

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