You cannot use the yacht lease as collateral for a conventional yacht loan. However, there maybe other tax friendly options for financing available such as home equity loans and investment account margin loans.
All normal on-going ownership costs are paid by FYG. Repair expenses that arise as a result of a particular mishap during the lessee's use of the yacht (e.g. prop damage) are 100% the responsibility of the lessee, but maybe covered by insurance.
FYG keeps the yacht prepared and ready for use at all times, either by the lessee or by paid charter customers.
Yes, FYG will endeavor to market weeks of usage time as it does for other charter vessels. Any net revenues earned as a result will be paid monthly.
You simply contact FYG Charter office to check on the availability of your yacht
Each time you use the the yacht, there will be a nominal turnaround fee based on the size of the yacht and a small insurance supplement to cover insurance deductibles.
The FYG charter office personally knows each owner and his/her capabilities. Initially, a resume of your experience and trial run with a captain to confirm competency may be needed. If you are uncomfortable, the FYG will refer a crew/captain to assist with the usage.
Yes, FYG can provide references to obtain qualified help.
FYG uses the CE rating for day trips and sleeping cabin capacity for overnight trips
Typically, the Florida Keys and the Bahamas for trips of 1-3 weeks. However, depending on experience and time requested, other destinations may be possible.
Damage is assessed immediately upon return to base. A towing service is called, if necessary.
The yacht must be clean and all defects found must be reported. FYG will inspect the vessel together with you or the charter customer upon its return to determine if the defect is an equipment failure or the result of an accident.
Yes, with agreement of the FYG.
Until the end of the 5 year lease, the boat will be owned by FYG and the lease will be a contractual obligation of FYG to the lessee.