How can I buy a share in a narrow Boat?
There are various places to look. on the Internet for a share in a boat. For a general look go to http://www. boatshare.co.uk but you might also find shares for sale on places such as E-Bay and Apllo Duck. You will also find shares available in managed schemes.
It is timeshare?
Narrow boat shared ownership is NOT what you could generally regard as timeshare. You cannot bank your weeks and fly off somewhere else for a week one year. BUT there are timeshare companies that MIGHT offer boats as one of your holiday options. If you want to go boating ONLY then such timeshare options are VERY expensive in comparison. See https://www.canalboatclub.com/ for Timeshare type ownership.
What is the difference between a Private boat and a Managed boat?
In a nutshell a Private boat is a scheme run by the owners for the owners. So one owner will be the treasurer and other the bookings secretary etc. In a Managed scheme a firm is employed to look after all that aspect for the owners. Of course they will want paying for their services and this normally works out about £350/£400 per annum per 12th share (correct 2019).
Will I make money by buying a share in a boat?
Unlikely. BUT if you are the sort of family who regularly HIRE a boat for your main holiday each year then what you will do is SAVE money against the cost of hiring.
How many weeks do I get with my share each year?
That depends on the size of the share you own! GENERALLY boats are sold in 12th shares and this gives the owner of that share between three and four weeks per annum.
I only want to go for one week a year on a boat, are there smaller shares?
Yes, but they are harder to find and generally in private, not managed, schemes. The best place to look for a smaller share is on https://www.boatshare.co.uk
I want a share where I get a continuous block of say four weeks each year. Is that possible?
Yes, but they are harder to find and generally in private, not managed, schemes. The best place to look for such a share is on https://www.boatshare.co.uk and look for a FIXED WEEK SCHEME
How are the bookings arranged? Obviously not all the owners can go at once!
This actually varies from boat to boat but once you buy a share they system employed on your boat is unlikely to change, So are fixed weeks, some run a selection system based on a ladder where the order on the ladder changes year to year, some are fixed weeks and on some (private) boats where there are just a few owners you tell the booking secretary what you want and they will juggle what is possible! SOME boats run on a fixed week scheme where the owner of the share gets the same weeks more of less each year.
How can I guarantee to get School Holidays each year?
A lot of boats offer some shares where the owners are guaranteed school holidays each year, but the owners generally pay more in to the "kitty" each year for the privilege. If you look on https://www.boatshare.co.uk it tells you how to find such shares. There is quite a demand for them.
How do I go about selling my share if I decide I want a change?
All the management companies will offer you a brokerage service, and obviously they will make a change for it. Best to ask what such a charge might be before you buy in. If you are in a private scheme the you have to advertise it yourself where https://www.boatshare.co.uk is a popular option and an advert is around £50 for 12 months (correct 2019) or you can try the likes of E-Bay, Apollo Duck etc. Some of these options could be free but the boatshare web site probably has the best exposure. Generally 40+ shares are sold each year off the boatshare web site.
What if I want a share abroad?
There are many many shared yachts around the UK and abroad. The boatshare web site does offer shares in UK operated shared barges in France. In France you have to have a certificate of "competance" to operate a shared boat but this test can be taken in the UK, is not too difficult or expensive to acquire. Read about this here.
Is my money safe in a shared boat?
Generally speaking yes, but things can go wrong with a boat where all the owners have to pay (together) to put it right where a new engine is probably the most expensive thing. It is always a case of "caveat emptor" but if you buy in to a managed scheme YOU will own the share not the management company so in the event they cease trading you would still have your share. In a private scheme again YOU own the share of that boat.
How much will it cost me each year for my share?
In a private boat you can reckon on around £1,000 per annum for say three weeks. In a managed boat you can reckon on around £1,400 for, say, three or four weeks. (Correct 2019)
How much will A share cost me?
12th shares in older boats can be under £1,000, especially if the owner wants a quick sale. New boats can be £10,000 for a share. So the best bet is to have a look around. Generally there is a good range of shares offered on https://www.boatshare.co.uk so that might be a good place to start to give you a good idea of price range.
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