How to Make Money Renting Your Boat with Boatsetter

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It’s no secret that boats can be expensive. During their downtime, simply owning a boat will likely just feed on your income. If you’re looking to make some of that money back, why not make money renting your boat to your fellow peers through Boatsetter?

Boatsetter is to boats what AirBnB is to rooms and houses. It’s an online service that offers peer-to-peer (P2P) boat rentals, bringing would-be boaters and vessels together for adventure.

Read on to find out why you should rent out your boat with Boatsetter!

Generate Passive Income

If you aren’t using your boat every day, you are still paying every day for upkeep and maintenance. There are endless costs associated with owning a boat, and they add up. Fortunately you can turn your boat into an income-generating resource. In fact, renting out your vessel can make you an average of $20,000 a year, depending on your boat. You can even make money renting your boat for weddings and celebrations!

Renting out your boat out might seem like an intimidating prospect, but new peer-to-peer rental websites, like Boatsetter, facilitate the rental process and make it easy for both owners and renters. And it’s not as complicated as it might seem. Boatsetter works out the logistics of boating rentals, like insurance, permits, and certifications, but you get to set the prices and approve the renters.

When you work with Boatsetter, you can also specify when your boat is available for lease and when it’s reserved for private use. With a rental company that is trusted, you can feel confident that your boat is in good hands.

Meet New People

That’s right! You don’t have to let your precious boat out by itself! With a required captain’s license, you can captain the boat and be present while your renters are onboard your vessel. Renting your boat can be a great way to meet ocean enthusiasts and new friends.

If you don’t have the time to be your own captain, then don’t worry, the P2P boat rental service can link you up with a wide network of USCG-certified captains. You can also introduce your own captain in case you know someone who meets USCG requirements and prefer they captain your vessel when you are not available to do so!

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Keep Up With Upkeep

Downtime is not good for boats. Any time a boat is not being used it’s just rusting, so it can be beneficial to your boat that it be used more often. If you only use your boat sparingly, you could be missing small problems that may turn into big problems. Regular use and upkeep of your boat means that you are keeping on top of those little things.

Get Worry-Free Boat Rental Facilitation

Listing your boat through a P2P boat rental company has several benefits over renting your boat out on your own. One of those benefits is security. Boat rental companies have backups in place in case your boat is damaged. Boatsetter has a special insurance policy unique to P2P boat rentals just in case anything happens.

Another reason to make money renting your boat with a company is that rental companies vet the renters. Boat rental companies will have detailed questionnaires and affidavits to sign about driving history and boating experience. You can also add any questions you want to have answered into the vetting process so you can feel confident about the people who are going to be on your boat.

Offset the Cost Of Maintaining Your Vessel

Maintenance costs, fuel, and other owner expenses can add up and you have to pay them whether you use your boat or not. Boatsetter works with Geico and BoatUS to create unique policies specifically for the boats participating in their program.

Hire A Boat Manager

Some P2P boat rental companies even help you hire someone to manage your boat rentals for you for an even more hassle-free experience. You can manage everything on an app on your phone and the boat manager can be on the ground making sure everything goes swimmingly.

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Sharing Is Caring

Before you jump into the waters of P2P boat sharing, here are some things to think about from BoatUS. It’s a big decision to lend out your baby to strangers, so while there are many benefits, there are also some downsides. But if you do decide to rent out your boat, Boatsetter accepts all kinds of vessels from jet skis to yachts!

Conclusion

Keeping a boat might be a dream of yours, but it can be a pretty expensive dream. But with peer-to-peer boat rentals like Boatsetter, you can make your vessel’s downtime work for you!

You can earn passive income, offset costs, and even meet new people by renting out your boat when you aren’t using it. Contact Boatsetter today to learn more about peer-to-peer boat rentasl and how you can make boat ownership earn you money!

**Disclaimer: There is a good chance that this post contains affiliate or sponsor links. If you make a purchase through them, we may receive a small commission at no extra cost to you (for which we are extremely grateful).

Also, while we do our best to highlight LGBTQ-friendly destinations and businesses, info provided is based solely on personal experience and recommendations by community partners. We hope that nobody experiences discrimination or homophobia while visiting Florida, but we make no guarantees. Please inform us if you experience discrimination or homophobia while visiting any destination so we can make updates to our recommendations.

Rachel Covello

Rachel Covello is an award-winning speaker, writer, diversity consultant, and LGBT advocate. She was the Founder of LGBT Equality Alliance, a Chester County, PA nonprofit organization. She is currently the Publisher of OutCoast.com and Producer of the OutCoast TV YouTube Channel, both of which highlight LGBTQ welcoming destinations in Florida.

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