People have chosen to co-own expensive items for many years, but they always had to figure everything out for themselves. It was a hassle for most, and it cost a lot of friendships because someone invariably doesn’t pay. It’s tough for most people to gather together a group of friends or acquaintances to set up a partnership, but with managed yacht fractional ownership, you don’t have to worry about any of that. The management company handles everything for you, making sure that everything is fair. For example, you all get the same amount of time on the boat each year, and all the costs are split evenly.
Yacht fractional ownership can have a program length between three and five years. The boat is then sold. You recover some of the initial cost, which is evenly distributed to the shareholders. You can all choose to get into another syndication program and choose a different vessel at this time. Most management companies allow you to sell your interest and share anytime, though it is important that you talk to the company representatives first if you think this might pertain to you.
Luxury Boat Syndicates makes it easy to own a vessel. Yacht fractional ownership ensures that eight people own a share of the boat and can all have equal access to it. The management company suggests boats it thinks you might like and would be suitable for the terms and Sydney Harbour. You can apply for the syndicate, wait until enough interest is piqued, and then the management company buys it for the owners. You get about 43 days on the boat, which includes holidays and weekends. You can also take the vessel out on consecutive days to get the feeling of overnight usage. You get a unique walk-on, walk-off feature because you don’t have to worry about cleaning or maintenance before setting sail.