Boatsetter: Make Money Renting Out Your Boat

What is Boatsetter?

Boatsetter is an online marketplace that connects boat owners and people who provide water-based services (ship captains, fishing charters, etc.) with people wanting to rent your watercraft or hire you / buy your service.

How it works

Boat owners register their craft — or their service — on the site specifying the type of craft, when it’s available and what it costs.

If you’re listing a service, such as serving as a captain or fishing guide, you’ll list your service, experience, rates and highlight what makes you special.

Boatsetter review:

Boats are expensive to own and operate, so it’s pretty cool that the Boatsetter marketplace can help you recover some of those costs by renting out your watercraft — or your services as a captain (or both at the same time) — when you’re not using it. This site operates in more than 700 markets worldwide, including most major U.S. harbors.

Boat owners determine what to charge per hour, whether they require a professional captain, or will allow any renter to drive the boat. You also determine the schedule of when the boat is available for rent and whether you have minimum rental periods — say, four-hours — to avoid having to interrupt your day for a cheap, hour-long rental.

You pay nothing to list your boat or your service on the site. However you will pay a commission on each rental.

Fees and commissions

Boat owners pay a 20-35% fee on each rental, provided that they take the site’s commercial insurance policy. The insurance is underwritten by Geico Marine and the price varies based on the boat.

Boats with commercial Insurance or a Charter Insurance Policy pay less — a 10% fee per rental.

Boatsetter also charges processing fees on any additional payments processed on behalf of the owner or renter. This includes fuel, damage/security deposit payments, or other miscellaneous charges. The current processing fee is 3% + $0.15 per charge.

Deposits

The site holds a minimum of $500 per rental as a security deposit, but owners can ask for a higher deposit. (It’s worth noting that Boatsetter’s insurance policy has a $7,500 deductible. So if you have a fancy craft, you might want a deposit that covers the deductible.)

If there’s a claim, the renter’s security deposit will be captured to pay the insurance deductible, damages, and fees.

Owner Cancellations

If a boat owner cancels a customer reservation — or fail to show up or have the boat in acceptable condition — Boatsetter has the right to impose a $100 fine.

Captain the ship

This site also offers the ability to sign up as a boat captain, assuming you have the appropriate credentials. Boatsetter says boat owners determine how much captains earn. However, the site publishes a captain pay-out schedule, ranging from $50 to $100 an hour, based on the length of the boat.

Captains pay no fees to the site, so you get 100% of the hourly pay that was promised. However, to get jobs, a boat owner needs to hire you — or designate you as a favorite captain for people who rent a particular boat. You can, however, also search for opportunities near your location on the Boatsetter platform and assign yourself as an eligible captain to any and all available boats.

If boat owners are U.S. Coast Guard licensed, they can also captain their own boats for charters.

Recommendations:

Even though Boatsetter charges somewhat higher commissions to boat owners than competitor GetMyBoat, there is no money due until and unless you rent out your boat. If you want to get the maximum number of rentals, we’d recommend signing up with both sites.

You can sign up with Boatsetter here.

This also appears to be a good place to sign up as a captain.

Updated 3/13/2025