GetMyBoat helps you market your boat or other watercraft for rent
Expected pay: You set it
Commissions & fees: 8.5%
Where: Waterways in most coastal U.S. cities, as well as 184 countries around the world
Requirements: A boat, jet ski, paddle board or kayak to rent; the ability to provide lessons, tours or charters on some water sport, from surfing to deep-water fishing; a smart phone
What is GetMyBoat?
GetMyBoat is one of several sites that aim to be the Airbnb of boat rentals.
The theory is that if you already have the boat, why not rent it out when you’re not using it? Listing a boat for rent on a popular waterway can bring in thousands of dollars per month during the summer — and sometimes, during holiday seasons, too.
You can also offer water-based experiences here — fishing trips, sunset cruises, etc. And the site offers some of the lowest fees in the industry, making it SideHusl.com‘s top choice for peer-to-peer boat rentals.
How it works
You register your own boat, telling about the make, model, and where it’s located. You also set the price for its rental and determine your rules and requirements. For instance, you can require that the boat is refueled before returned; you can say that rentals must be booked with a professional captain; and you can set a maximum capacity.
You can also create a cancellation policy. However, GetMyBoat will only enforce it if it’s detailed and clear. For instance, if you want to charge for last-minute cancellations, you need to specify what that means. In other words: “Cancellations made less than 12 hours prior to the rental will be charged 50% of the rental fee. Cancelations made less than 1 hour prior to the rental start will be charged 100% of the rental amount.”
Payments to owners
When your boat is rented, GetMyBoat charges the renter’s credit card for the entire rental. After the rental is complete, assuming all went well and there was no damage or refueling fee, you mark the rental as complete. GetMyBoat will then release payment. Payments normally take 5 to 10 business days to process. Payments are made via direct deposit or PayPal.
Where GetMyBoat is a bit different than the other sites is that it does not provide any insurance coverage for your boat, though it can refer owners to commercial liability insurers that owners can contract with separately. (Definitely check your own boat insurance to see if it covers commercial rentals; if it doesn’t, you would want to secure a commercial rider or coverage in some way to protect your boat from damage and you from liability.)
The site does allow owners to set a “security allowance,” to guard against minor damage to their watercraft. This works much like a credit card hold. To make a claim against it, GetMyBoat owners must have time-stamped before and after photos. So make sure you photograph your boat before the renter leaves with it and immediately following.
The site also allows boat owners and others to list watercraft-related experiences here, such as fishing trips and whale watching. You, again, set the rates, terms and availability. GetMyBoat provides the collection and marketing help for a cut of the proceeds.
GetMyBoat is a great place to rent out your watercraft, with the lowest fees in the industry. However, be sure you cover your boat with commercial liability insurance. You may also want to bake in the cost and services of a professional captain — you or someone you hire — with each rental. That can give you and your renters peace of mind that nothing will be damaged by careless or inexperienced boaters.
You can also rent out boats through Boatsetter, which charges a 20% – 35% commission for those who need commercial coverage and 10% to those who already have it. And through LakeHop, if your watercraft is on an inland waterway.
Want to try GetMyBoat?
Want to try GetMyBoat? You can find their website here.
What their users say (from iTunes)
“GetMyBoat has provided amazing customer service for my company, has build the company into a success bringing amazing kind guest to enjoy the ocean fun.”
“A brilliant way to rent your boat to people. Had a great trip recently teaching people to sail. Easy to use, simple to book.”
“The app gives you almost no options or opportunity to control your listings data. For instance, they auto place a 5-day grace/cancellation period that you cannot change. he app must be designed by bots as you have almost no control to do anything with it. Then come to find out my first customer who appeared to be real was one of their bots faking an interest in my boat. Is bs.”
COMPANY RESPONSE: “We have substantially improved our options for controlling your listing data on our web platform. Please check it out again and we hope to connect you with some customers soon. We are not bots. I promise.”