New brokers on board with Boat Equity

by Lauren Brittain on 17 Sep 2014 It may seem like wishful thinking to own a new boat for a quarter of the cost, but it’s a reality proven so popular, six new brokers have recently partnered with Australia’s largest online boat share marketplace, Boat Equity.

Performance Boating (NSW) is the latest company to join Boat Equity’s expanding boat syndicate network following MW Marine (NSW), Williams Yacht (NSW), Tasmanian Boat Sales (TAS), Clipper Motor Yachts (QLD) and Mansfield Marine (WA) who all came onboard recently.

Dealer Principal at Performance Boating, Lee Condell, said that partnering with Boat Equity provides his customers with more options to get out on the water.

'We chose to align ourselves with Boat Equity because the process is simple for the boat owner and everything has been considered. With a detailed system and no fixed annual maintenance contracts or high management fees you can’t really go wrong. Our owners will pay their ongoing maintenance costs at cost and are also free to buy and sell their shares as they wish without being locked in.'

Since its conception in 2010, Boat Equity has provided a transparent and dependable system that allows owners to buy and sell shares on the same terms as an entire boat.

Key benefits of the boat share system include:

- Self-managed at the actual cost of the ongoing maintenance, detailing and
berthing with no expensive annual up-front fixed management fees
- Enter and exit your share at anytime with no lock in contract
- You get more boat for your budget but with the same amount of use
- Security with the Owners Agreement
- Flexible and easy to use booking system

Another great benefit of the Boat Equity system is it allows brokers to syndicate any boat. Be it new, used, power or sail there are currently over 60 boats on offer across Australia with more being listed every week.

Boat Equity managing director, Glen Moltoni, said with summer just around the corner, it’s not surprising there’s been a high demand for shares.

'The whole idea of Boat Equity is to get more people out on the water in the boat they really want. Boat Equity is becoming a really popular option for seasoned boaties and novices a like.'

The advantages of shared ownership include a part ownership and use of a vessel that may otherwise be out of reach, reduced costs by splitting the cost of owning and maintaining such a vessel equally between the number of owners in the syndicate and reduction of depreciation by the same factor.

Syndication also offers cost-effective operation and increased opportunities to use the boat in other locations that may otherwise be too far away for individuals and there are proven fewer maintenance issues that result from the boat not being used regularly.

This unique proposition also allows Boat Equity brokers to bring potential share owners, to people who already own a whole vessel but wish to reclaim some of the equity tied up in it.

When it comes to using your boat, everything is managed via flexible and easy to use online booking software that allows owners to log in, update or access information about their boat. Using the boat is based on a points system, weighted to smooth out demand at peak times such as holiday periods. Also making the system fuss free, is the Syndicate Owners Agreement, a comprehensive 29 page legal agreement, that provides owners with protection and peace of mind as well as a contractual responsibility to other owners of the vessel. It covers all areas of boat share, so no longer will informal arrangements between family, friends or business partners end in upset. The software includes alerts and notifications by email and/or SMS and an automated monthly report.

To see boats currently available via syndication, to sell shares in your boat or to access the Boat Equity system for your syndicate, visit Boat Equity.