Got a boat? Then you’re probably paying a small fortune in slip fees and maintenance. You can recover some of those costs if you rent out a boat.
Peer-to-peer boat rental sites offer value to both boat owners and renters. If you want to rent a boat, these sites offer sweeping variety and reasonable prices. If you want to rent out your boat, you can set your boat’s hourly price and availability and let the site do the marketing and collection.
Risks of renting out a boat
Of course, if you’ve got an expensive boat, you may be worried about the very real risk of renting it out — particularly to someone who isn’t a regular boater. Boats can get damaged by both accidents and by careless maintenance. So, it’s important to both get a deposit on rentals, as well as make sure you have commercial insurance coverage.
Some sites that rent out boats offer commercial coverage. However, most also allow you to set restrictions on rentals, such as requiring that the ship come with a paid captain. (And that captain can be you.)
Here are the best peer-to-peer marketplaces to rent out a boat.
Inland waterways
LakeHop operates on lakes in 39 states. Boat owners and service providers set their own rates, terms and availability. Unlike other sites, boat owners almost always list their craft with a “ride share driver” on this site. That essentially means that the craft can’t be booked without a driver — often the owner.
That’s a benefit to owners who don’t want to worry about an inexperienced driver crashing the ship. But it’s also nice for renters, who get a guide at no extra cost. The site also allows boat-owners to list experiences here, such as water-skiing lessons and fishing trips. Learn more about LakeHop here.
All waterways
Boatsetter connects boat owners and renters on both inland and coastal waterways. Boat owners set their own rates and terms and pay a commission to the site on each rental. The commission rate varies based on whether or not the boat needs commercial insurance. If you want the insurance coverage, boat owner’s pay 20-35% fee on each rental. The insurance is underwritten by Geico Marine and the price varies based on the boat.
Boats that already have commercial insurance coverage or a Charter Insurance Policy pay less — a 10% fee per rental.
If you want to offer it, you can also offer your captaining services through the site — or require that renters hire a captain for an additional charge. Learn more about Boatsetter here.