Boat Share Purchase

[Guest]

I see this thread has gone off on a strange tangent 

Thanks for all the input though guys n gals

[grendel]

Jayfire, dont worry, you will get used to it, eventually it must come back round and be on topic again.

[Victoryv]

Hello Jayfire, sorry to introduce the tupperware box, the point I was making is that the little things seem more important and annoying to some people once you get involved in the politics of syndicate ownership, than the important things like, where is all this money going ?

I enjoyed the time we had on the syndicate boat, it reinforced my love for the broads, I was glad to get out, but by then I had a lovely old boat of my own.

By the way I see you live close to me, we both still work full time and I don't spend enough time on my boat, but we certainly try and love every minute (and you should see the tupperware storage, everything in its place)

Go for it, ignore the small minded few and when you decide its time for a change don't worry if you don't get back what you paid.

[dnks34]

Ive had experience of a syndicate in the past.

I dont have anything bad to report but I think I got out before all the trouble came to light with the one I was in!  

Other than putting up with the snippy original owners who tended to look down their varifocals at resale shareholders like us we enjoyed our time and probably saved quite a bit of money over the years we were in it.

I kid you not this cheesy biscuit story is all to common, every syndicate will probably have similar stories to tell.   

The slightest thing out of place you will not believe the fuss small minded folk can create over very small and silly little things like that.  

If theres an option to pay extra for someone else to clean the boat for you at the end of your period then I would pay for it to be done by someone else every time, then if anything comes back you can very swiftly pass the blame on!!!

We properly own our own boat now and can leave crumbs wherever we like.....even in the toaster if we want to. 

In my opinion syndicate ownership is nothing like ownership that is unless something needs paying for but dont let any of that put you off. 

So long as the figures add up for you it should still work out cheaper than hiring a similar boat over a couple of years.

Im sure you will enjoy it. 

[ranworthbreeze]

6 hours ago, Paul said:

We have considered syndicate many times, but never taken the plunge. We pretty much gave up on the idea when Jamie was born 7 years ago.

We looked at two options, managed boats such as Evening Shadow and self managed like Ranworth Breeze. If we were to consider syndicate ownership again I would want to look at self managed syndicates. Management companies take a heavy fee for their services. That's just my preference of course, others are very happy to pay a management company in order to be able to leave things such as booking winter overhauls, major repairs etc to them. You pays your money and make your choice. 

I would want to be very clear on what the annual fee covers, they list it on the website but dig, dig, dig. What does "adjustment" mean? Does the winter maintenance include any contingency? If so what is the current level of contingency? If the engine were to need replacement is there money to cover that, or would the owners be asked for a top up? What is the policy on maintenance, upgrade, refurbishment? Is that the owners decision or the management company's? Does the management company earn commission on works undertaken from the contractor? Ask, ask, ask. 

What are the rules on boat usage, must the share owner be on board during their weeks, or can they loan there weeks to family and friends. Some people would see being able to as a benefit, others would be concerned that the boat might not be handled or cared for as they would expect if another owners neighbours dog walkers sister was using it. I think I fall in to that category. 

Talk to as many other owners as you can, if they are happy that must be a good sign.

I know you are not buying the boat outright, but I would want to see some kind of condition report.

Of course, the other approach is to view the boat, decide if you like it, decide if you are happy with what you are expected to pay, do you see it as good value? If so, does anything else matter?

Hi Paul,

I was happy to see that Ranworth Breeze was one of the boats you considered.

My advice to anyone that looks at Syndicate or Boat Share looks at all the boats that are on the Broads, there are around 10 available, Ranworth Breeze and Southern Crusader both have an high airdraft so this has to be taken into consideration, Ludham, Wroxham and Potter Heigham are out of the question. We can however see over the reeds so we can see the best that the Broads have to offer.

Ask questions about the contracts you have to sign, make sure you get to the AGM's of the syndicate you buy into, your vote is important, you will see all the information on the  boats accounts, you will also have your input registered on the boats wish list (this is usually do you send the budget on new carpets, seating renewal or that latest gizmo). Most syndicates draw there allocations at their AGM's unless the syndicate works on fixed weeks (this is the case with Southern Crusader). We allow owners attending the meeting to swap their unsuitable  weeks with another owner ((we also allow weeks to be swapped throughout the season via our forum).

With regards allocations we only allow the boat to used with a supervising owner aboard the boat. We do however promote that a couple are listed as owners and allow offspring (if over 21) to be also listed as joint owners.

Always check what the management fees have been over a number of years so you have a rough idea of what you are letting yourself into. Also check what the syndicate pays for and what you have to bring with you.

For example on Ranworth Breeze all you have to bring with you is your personal toiletries, towels and duvet and pillow cases. You pay for the diesel used and your pump outs on your visit everything else is provided.

For us buying into our syndicate in 2001 was one of the best moves we ever made, for me with limited holidays (we also go on other holidays) it was the only way we could afford to fit in two cruiser holidays a year, because of the Standard Share we have we see the Broads throughout the seasons.

If anyone requires any advice please do not hesitate to contact me for impartial advice.

Regards

Alan

[Guest]

2 hours ago, Victoryv said:

Hello Jayfire, sorry to introduce the tupperware box, the point I was making is that the little things seem more important and annoying to some people once you get involved in the politics of syndicate ownership, than the important things like, where is all this money going ?

I enjoyed the time we had on the syndicate boat, it reinforced my love for the broads, I was glad to get out, but by then I had a lovely old boat of my own.

By the way I see you live close to me, we both still work full time and I don't spend enough time on my boat, but we certainly try and love every minute (and you should see the tupperware storage, everything in its place)

Go for it, ignore the small minded few and when you decide its time for a change don't worry if you don't get back what you paid.

No problem at all Victoryv

[Broads01]

On 25/04/2017 at 10:39 PM, webntweb said:

We have had a share in Lightning for about 5 years (previously we had a share in Moonlight).

We are reorganising our booking system to a rolling block system (work in progress) but basically you will know your weeks for years ahead, which will give those who are still working the chance to get their holidays booked as soon as they made available at their workplace, and will also give all owners plenty of time to arrange swaps.

Interesting, Roy. I'd be interested in a bit more detail about how the new booking system will work. 

[SPEEDTRIPLE]

For many years, I considered, but kept dismissing syndicate ownership because I thought there was always a catch. But there isn't any catch, it's an excellent way to enjoy affordable boat ownership. I bought a share in the Lightning syndicate 3 years ago, and wish I did so years ago. Our syndicate ( as Webntweb, Roy says ) is a privately, or owner managed syndicate, so we don't pay any management fees, and everything gets spent on our lovely boat. As Roy says, we have recently undertaken a considerable amount of needed refuyebishment, with the imediate emphasis on the more important mechanical works, but are now turning our attention, and money lol, to the more cosmetic side of things.

one thing I always do is to look at our bout as an investment which gives us economic holidays on a large spacious cruiser, 4 times a year, or a week in each season, but at a price that's less than a weeks hire. That said, like any private boatr, you are always going to need to invest in upgrades etc to ensure the highest value of your investment. We are currently on Lightning as we speak, and will be back aboard in July.

Our syndicate is a very friendly syndicate, which means our annual AGMs are always enjoyable occaisions.

If you're interested in buying into a syndicate, just do it, but make sure you get the right boat for your needs. I doubt very much you'd ever regret it.

[Guest]

We'll after much deliberation and investigation I am absolutely delighted to say we have today gained our share in Moonlight Shadow.

The other half and I are delighted in our decision and feel it is the ideal boat for us and our family at this time.

I would like to thank all of you for your valuable input, you helped us immensely on important things to have found out.

I have thanked a few people personally (I hope) today but a final thanks to Alan (ranworthbreeze) for encouraging me to have another think about syndicate ownership in my very first starting thread.

 

We are delighted tonight and can't wait to get out on the water (hopefully) next month 

[webntweb]

On 26/04/2017 at 11:33 PM, Broads01 said:

Interesting, Roy. I'd be interested in a bit more detail about how the new booking system will work. 

Hi Broads01, PM sent.

[MauriceMynah]

Congratulations Jayfire. Look forwards to seeing you on the water.

[trambo]

Congratulations Jayfire, Moonlight Shadow last week at Irstead, we are astern on Silver Cloud.

Fred

 

[deebee29]

Just now, trambo said:

Congratulations Jayfire, Moonlight Shadow last week at Irstead, we are astern on Silver Cloud.

Fred

 

That must have been Friday (28th April), we passed as they were coiling up the power cable.

I noticed the other boat (SilverCloud) had a forum burgee as well

[Guest]

1 minute ago, trambo said:

Congratulations Jayfire, Moonlight Shadow last week at Irstead, we are astern on Silver Cloud.

Fred

 

Thanks Trambo. Not sure if you was on silver cloud yesterday morning but I believe it was moored up beside evening shadow when we were looking around her. 

We moved on afterwards to look around moonlight shadow at acle.

[trambo]

15 minutes ago, Jayfire said:

Thanks Trambo. Not sure if you was on silver cloud yesterday morning but I believe it was moored up beside evening shadow when we were looking around her. 

 

That was us, my partner Derek spoke to you. Moonlight Shadow is as super boat, hope to see you around.

Fred

 

[SueH]

55 minutes ago, trambo said:

Congratulations Jayfire, Moonlight Shadow last week at Irstead, we are astern on Silver Cloud.

Fred

 

Hi Fred.  PM on the way

Sue

[Guest]

56 minutes ago, trambo said:

That was us, my partner Derek spoke to you. Moonlight Shadow is as super boat, hope to see you around.

Fred

 

Well it was nice to say hi. Hope to see you both around.

[SPEEDTRIPLE]

Hi Jayfire,

we own a share in Lightning, and are moored a few yards from Moonlight Shadow at Brooms. We were aboard Lightning last week, but stayed south, as the tides were'nt right for Gt Yarmouth later in the week. We had the great pleasure of meeting Sue and Martin on MS, so if you're about at the beginning of July, please come and say hello.

[Guest]

17 hours ago, SPEEDTRIPLE said:

Hi Jayfire,

we own a share in Lightning, and are moored a few yards from Moonlight Shadow at Brooms. We were aboard Lightning last week, but stayed south, as the tides were'nt right for Gt Yarmouth later in the week. We had the great pleasure of meeting Sue and Martin on MS, so if you're about at the beginning of July, please come and say hello.

Hi, I think I saw both lightning and thunder near our mooring on Saturday. We are hopefully aboard Moonlight at the end of May and may stay south this time especially as it's a bank holiday weekend so expect it to be like bumper cars up north.

 

Unfortunately we won't be around in July as it stands but look forward to meeting you and other forum members in the near future.

[Matt]

We often have May half term afloat and even down the south the Bank holiday weekend makes it busy!

[Guest]

44 minutes ago, Matt said:

We often have May half term afloat and even down the south the Bank holiday weekend makes it busy!

Yeah, it'll be a fun week either side I guess.