Can I become a charter yacht owner?
Anyone who wants to own a fine yacht and have the cost of ownership reduced by charter income will want to consider this program. This program gives the yacht owner not only charter income, but also guarantees that the yacht will be properly maintained and ready to cruise at all times. So, when you want to use your yacht, she will be ready for you.

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. SFY pays for all of those. We will be happy to give a projection of revenues and expenses for the size and type of yacht that you choose.

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 month along with an Activity Report detailing each charter and/or class for that month.

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. SFY 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?
SFY 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 SFY 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.

Is my yacht a second home?
Under current tax laws, your yacht may be designated as a "second home" if it has a galley, head and sleeping accommodations. As a second home, the interest on the mortgage may be deductible. See your tax advisor.

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 SFY 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. Your SFY broker will also insure that you are getting the best value for your dollars 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 SFY program, your yacht will be inspected for its charterability, 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 $1500 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 SFY fleet.

How do I know my boat will be well-maintained?
Check us out. We encourage you to check with current and past owners concerning any questions you may have. 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?
SFY will maintain your yacht at rates approximately 20% less than commercial rates. Most maintenance is performed by SFY 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 haulout; and from installation of equipment to de-commissioning. A list of our current labor rates is available upon request. You will receive monthly computerized invoices and statements, with detailed explanations of all parts and labor charges to your yacht. Few companies provide such complete business records to their yacht owners. At SFY, attention to detail is standard practice.

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 winter season, we ask that owners not "block out" personal time for more than two weeks at one time between December 15 and May 1 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. Our newsletter, THE YARDARM, carries all of our brokerage listings to our vast mailing list. (More than 15,000) 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.

What about references?
Ask any of our yacht owners, previous charterers, or any of our business associates in the marine industry. Ask Dun and Bradstreet, our Banker, our Accountant, or our Insurance Agent. We will be happy to supply you with a list of references upon request. We are very proud of our reputation. Sure, we can't please everyone, all of the time. But we never stop trying!

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!