What’s on offer:
One quarter or half-shares in a new Jeanneau yacht where you are equity owners. PBS facilitate the finding of like-minded partners and act as a managing agent where required to offer a one-stop maintenance and detailing service.
Why consider a share ownership:
Making the time to use a yacht as much as we would like may not always be possible, so a share syndicate is a way that works for many people. Typically this option allows a share owner to still maintain the typical usage of an individual owner, with the advantage of a fraction of the outlay and costs, or alternatively the ability to have your dream yacht that you otherwise couldn’t justify.
With small syndicates we’ve found over the years that owners take much greater responsibility for a yachts condition and there is typically no more wear & tear than a one-owner yacht, therefore no depreciation beyond a normal yacht.
With access to PBS service we help you to maintain your yacht using our extensive knowledge. PBS has been Jeanneau International Dealer of the Year for the past two years, as well as previously.
How to manage share ownership:
There is an extremely good Australian developed boat share ownership system available called Boat Equity which is very affordable and covers every aspect of share ownership, from an online booking system that notifies other owners of when a booking has been made by text message, covers the financial management, terms and how to deal with an owner wishing to sell his or her share. It even covers dispute resolution and every aspect you can think of. See www.boatequity.com.au for details
There is no requirement to use this system and many of the syndicates that we have put together over the years come up with their own system and/or partner agreement. This is open to the prospective share owners to discuss and agree on.
How to become involved:
To register your interest in a specific boat you place a 10% of your share value into the PBS trust account for an agreed term, usually 6 months. During that time PBS actively engage in finding other potential partners to join you in that vessel. If for any reason suitable partners have not been found the deposit will be fully refunded at the end of that 6 months.
You will be invited to meet with any vetted potential partner to discuss if you have common ground. No partners will be contracted to join your syndicate without your approval.
PBS reserve the right to act as a temporary syndicate member, to assist in forming a syndicate if deemed appropriate, and will subsequently on-sell its share as soon as possible with approval of the partners in the vessel.
Maintenance:
A syndicate bank account is set up with a monthly direct debit to cover the running costs of the yacht to start on handover day, with 3 months paid in advance at the outset, to cover mooring and cleaning.
Insurance will be paid in full in advance of handover so that the policy is in place for that date.
Term of Syndicate:
It is open to the syndicate members to decide on a term that is suitable to them, but the usual period is three years. At that point the members can decide to opt out in which the vessel is put on the market, can choose to extend the term, or if an individual or several partners wish to remain those share partners who wish to opt out will give the existing members first option on their shares, otherwise those shares will be put on the market.
For more information contact PBS on info@performanceboating.com.au