Owner, how to rent your boat?

You own a boat in Spain and you want to rent it.
You sail a few weeks a year and you would like to make mooring, maintenance costs, etc. profitable thanks to the rental of your yacht. We explain you the steps to follow.
First of all, be aware that if you are leasing, it may become complicated. Indeed, leasing organizations such as CGL, SGB Finance, Natixis Lease, etc. do not allow subletting or subject to prior written authorization. Be careful, if you are not in the rules, the lessor can claim the immediate payment of the balance of the remaining rents.

Marine Register and other administrative procedures

First, you will need to change your vessel’s shipping list from list 7 to the sixth. List 6 of the marine register includes pleasure boat rentals. The complexity of completing the administrative records depends on the characteristics of your unit. For example, the steps will be very easy for a boat under 24 meters. The list change procedure requires a new ITB (Technical Inspection of Vessels). Rates vary depending on the company you will be requesting and the length of your boat.
As for the administrative procedures, you will be done once you are registered with the Agencia Tributaria through the document called 036 and you will present all the documents to your captaincy by paying the corresponding fee. And there, you will only have to receive your new registration in list 6.

Insurance

Next, it is fundamental to consider good insurance coverage. Thus, an insured boater must absolutely not imagine that it will be covered for rental. Most policies in the market exclude damage to the boat or damage to the boat from third party liability when rented to a third party. It is therefore necessary to request a warranty extension to cover your unit during the rental. Whether permanent or punctual, these extensions are reasonable.

4 questions we are often asked

– Is it mandatory to rent a boat with a crew? There are two types of rental: with or without crew. In the case of renting with crew, the total responsibility remains in the hands of the owner.
– Is it necessary to sign a contract? No, but it is advisable. So you can customize and control your rental offer.
– Is it possible to rent your boat in any home port? Each Nautical Club has its own regulations on this subject and some prohibit private hire.
– Fiscally, what should I do? Renting your boat is subject to 21% VAT in Spain. You will have to follow the quarterly and annual steps on this subject. With regard to taxes, since this is a commercial and private use, VAT is not fully deductible.

The Airbnb of the sea

By renting your boat from private to individual, you can publish your ad on different websites that offer this kind of services. For the sea, the best known is Click & Boat. On the other hand, you can consider renting your boat through a charter or a club. The big difference between the two is the services they offer. A club, in general, will also bear the cost of shipping and maintenance. Currently, charter is often reserved for luxury goods.
In this paper we have quoted Spanish legislation. Be careful if you are outside of Spain.
Contact us, we can help you to rent your boat with confidence –> info@privilege-yacht.com / +34 972 453 622; +34 616 803 971

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