Wouldn’t it be nice to mix business with pleasure this way? Certainly, but first, you need the right team of experts to help you reach the full potential of your yacht.
It is never early to start searching for a partner or a company that will represent you for the next season. You should be able to count on them to take over all efforts when it comes to properly presenting the yacht to the charter market, administration, and all activities in the chartering process. By finding a reliable and experienced company that will get everything done properly and efficiently, you won’t have to cope with the stress that accompanies the yacht charter management process.
Why should I put my yacht in a charter fleet?
Many feel reluctant when it comes to sharing their boat with complete strangers, when in fact, chartering a yacht has many advantages:
● It helps to offset expenses
What good does the yacht do just sitting in the marina? Not much, really. Chartering your yacht can bring you a significant income for its maintenance, while still allowing you to enjoy using it whenever you wish.
● Regular maintenance
When you charter a boat, it always needs to be functionally and aesthetically pleasing, which means it will undergo regular mechanic and cosmetic maintenance. Not only will that extend the life of the yacht and its equipment, but it will also preserve its resale value.
● Turn-key use
Because a chartered yacht receives professional maintenance, service, and care after every charter, you can rest assured that your yacht will always be in top-notch condition when you decide to use it for any personal plans you make.
● Your yacht will gain a better reputation
A yacht that is available not only for private use but also for charter will build a better market profile, which will certainly make it more appealing to any prospective buyers in the future.
● Your crew will be more skillful
Chartering will enable your crew to practice more which will lead to better performance. They will have more opportunities to improve their skills while earning extra money from the tips. A more skillful and satisfied crew will certainly bring better results.
Yacht charter management company: what should you expect?
Good yacht charter management covers both yacht consulting and yacht management support, helping you achieve maximum charter booking. The successful yacht charter management team has to have the capacity to mediate between yacht owners, captains, and yacht charter brokers. It also needs to devise thoughtful marketing strategies for luxury yachts and know how to deal with charter inquiries instead of you. The right yacht charter company will also help you with placing your yacht on the market and come up with the best approach to promotion so that it reaches the right audience. With the right marketing team by your side, you can increase your yacht’s reputation and expect steady business growth.
Professional yacht charter companies should operate like well-oiled machines. While services should be personalized to meet an individual client’s demands, the agency should have a defined step-by-step process in place to ensure seamless collaboration. Here’s how we do it at Yacht In:
- The first step involves introducing the owner to standard Terms and Conditions which are applied to crewed luxury yacht chartering. Since our main area of operation is the Mediterranean yacht charter, all our Central Agency yachts above 20m work under MYBA terms. These are created by The Worldwide Yachting Association and stipulated in the „MYBA yacht charter agreement“ that represents the industry's most respected and widely used charter contract in the Mediterranean but also worldwide. Yachts that operate under these terms outline responsibilities to all parties involved (yacht owners, charterers, and yacht brokers) which gives them confidence that all chartering processes will be done according to the highest industry standards. A yacht that can be chartered under this contract is certified by the association, which is a warranty in itself.
- When you decide on the particular yacht management company, the Cooperation Agreement is signed between the owner and charter company/charter representative. It is commonly known as the „Charter Central Agency agreement“ and it outlines both the responsibilities of the Yacht In as your yacht charter broker and yours as a yacht owner.
- Finally, it is crucial to familiarize yourself with the common requirements for chartering a yacht in the EU. If you choose Yacht In, we will assist you and guide you through the complex process of setting up your yacht. Firstly, you need to register commercially. Depending on several factors, including the size and construction characteristics of a yacht, it might need to be reflagged and issued a license. Furthermore, before starting the charter process, the yacht owning company needs to register for VAT in the country where the yacht is placed for charter. For example, if the charter starts in Croatia, the yacht owning company has to register for the Croatian VAT (Croatian VAT for charter is 13%, in Greece it takes 12%, while in Italy it is 22%, etc.). The procedure is the same for any other EU country where you want to charter out your yacht. But don’t worry - hiring a bonafide charter company/yacht broker like Yacht In means that you’ll have the right-hand man to guide you through this process.
Getting ready to charter a yacht
Also know that, among other things, hiring the right crew, having a well-equipped yacht, choosing the experienced charter broker, and last but not least - investing in popular toys can really make a difference and motivate charterers to choose one yacht over another.
With Yacht In, your yacht is in safe hands, as we will guide you through all the steps to chartering your yacht. Below, we provided a list of items you need to consider when preparing to charter a yacht.
The crew
Undoubtedly, the crew is the main contributor to the success of a charter yacht and highly influences the overall experience guests will have during their yacht trip.
So what are the qualities of a good yacht crew? The captain, the hostesses, and the chef are expected to be skilled and discrete team workers, as well as problem solvers who are available to fulfill any guests’ requirements at any time.
Yacht In is ready to find a competent crew for you in our comprehensive database of professionals - from captains, engineers, deckhands, and stewardesses to kitchen chefs. You can find out more about their responsibilities in our crew salary guide.
Equipment
All privately-owned yachts that are in a charter fleet need to have standard equipment on board, and along with it the highest quality of accommodation services. After completing a yacht inspection, the agency makes a record of the yacht condition, technical characteristics, and creates an inventory list. They will provide a written standard and advise you based on the aforementioned record to ensure maximum satisfaction with yacht customers.
Amenities
Depending on the yacht’s size, regular charter yacht clientele is looking for some luxury amenities such as a hot tub or swimming pool, spa amenities like a steam room, and massage therapy services. A good list of water toys (from Seabob to water slides), onboard games, and certain electronic devices of the new generation are also welcome.
Why choose Yacht In to be your yacht charter broker?
When it comes to charter management, we cover all the charter marketing activities and supervise the whole booking process. We are known for professionalism, responsibility, and a tailor-made approach that meets the requirements of every charter yacht owner.
Yacht In has more than a decade of success in the luxury yachting sector, with the main focus on the Adriatic Region, but know that we operate in the whole Mediterranean. Our team is made up of enthusiastic yacht charter brokers who have in-depth knowledge of the yachting industry combined with wide experience in the local market.
The benefits of having Yacht In as your charter management company
We have all the necessary tools and know-how to present your yacht on the charter market. Yacht In is an authorized user of the MYBA charter contract and a qualified YACHTFOLIO subscriber. YACHTFOLIO is the most accurate database of more than 1400 yachts available for charter around the world, and only qualified yacht charter brokers can have access to this database.
Our charter brokers are present on all major charter shows in the Mediterranean and Caribbean. They stay in the loop with the global yachting industry, network with the yacht broker community, and make sure to present our Central Agent Yachts to the right broker audience.
It should be pointed out that all our activities are run from one office, thus providing the shortest way and the most effective communication, collaboration, and coordination. Our Charter Management program now offers 360-degree yacht management support. Everything is done in-house since we can proudly present the full implementation of the ISM code (International Safety Management code) and the ISPS code (The International Ship and Port Facility Security Code), the safety procedure services that we successfully implemented in 2020.
Last but not least, we have a boutique approach to yachting. As we focus on quality rather than quantity, we are able to carefully select our Central Agency yachts, fully devote ourselves to each yacht owner, and tailor our services to meet their needs. In addition, our Charter Manager will be dedicated to your yacht and available 24/7 to you and the crew. They will take care of administrative and marketing activities to ensure that your yacht reaches its full charter potential.
Do you feel ready to appoint a charter manager for your yacht? Feel free to contact us.
