Peer to peer marketplaces help ordinary people to make a bit of money from underused assets. Airbnb is the classic example, and now boat owners are making use of marketplaces like boatingpier to get more out of their boat ownership. For some, it’s a matter of occasional rental to cover costs. For others, it’s a way to make some extra income.
There are a couple of big differences between renting out a boat and renting out an Airbnb. Nobody’s going to sail off with your house or apartment – and though you do have to be careful to get responsible tenants, they don’t need any special skills. The same can’t be said of a boat.
So, how do you get peace of mind and the benefits of peer to peer boat rental?
Boat Rental Reviews First
Both boat owners and the people they rent to have their own concerns about the transaction. The boat owner has a valuable asset and wants to be sure that the prospective renter will take good care of it. The person renting the boat wants it to be in good condition and properly equipped.
Reviews are the first place to look. Peer to peer marketplaces offer parties on both sides of the transaction an opportunity to review each other. The assumption is that if you have a good reputation in reviews, you’re probably a safe bet to do business with.
However, boat owners will want a little more than good reviews to go on before they entrust their boat to a stranger.
Talk it Through
Just what you’ll want to see from prospective boat rental peers will depend on the type of boat you’re offering to rent. If it’s just a canoe or a kayak on inland waters, you probably won’t need too much by way of assurances and evidence of competence. But if it’s a powerboat or a yacht, you’ll be pardoned for wanting a whole lot more information.
What you ask for is up to you, but it could include things like testimonials from any clubs your prospective client belongs to, proof of at least two years’ boating experience, skippers’ licenses and so on.
Even with all this information on hand and looking good, boat owners can still add any provisos that they feel necessary – perhaps you’d like to see how your boat renters will handle your vessel before deciding whether you’re game to let them take it out solo. It’s up to you. After all, it’s your boat.
Insurance can be a knotty issue for those with a high-value vessel to rent. A small deposit usually covers any minor damage, but if the worst were to happen, where would you stand? Check with your insurance company, and if they aren’t willing to provide adequate cover during rentals consider asking for a pledge of collateral.
However, the one good thing about peer to peer marketplaces is the fact that online reputations are made or broken by reviews. Nobody wants a bad review, so renters will usually make an effort to hand over your vessel in good condition. There’s also a great deal of camaraderie in the boating fraternity, so most people will treat your boat with the respect it deserves. Still, it pays to be careful!
If you’re looking for the perfect platform to rent out your boat, Boatingpier is the place to be, so why not get started right away? We do the marketing; we provide a secure payment portal; and you call the shots.
Meta-Description: Renting out your boat presents an opportunity for an extra income stream – but how should you vet your clients? A P2P boat rental platform explains.