Analysts predict the global boat rental industry’s market size to surpass $21 billion by 2031. Many find that boat rental costs make more financial sense than full ownership.
Several factors decide the cost of boat rental services and it’s important to budget accordingly. Whether you’re looking for yacht charter services or chartering a boat for fishing, you’ll need an estimate.
Read on to discover if boat charter costs fit your budget and what kind of services are right for you.
Size and Type of Boat Rental
It’s important to know that an average boat costs about $200 per day to rent. However, something like a yacht is much larger than an average boat.
The size and type of boat rentals play the biggest role when it comes to cost. It’s simple, larger boats tend to cost more, and smaller vessels usually have much cheaper prices.
It’s also important to note that things like party boat rental services typically cost more than things like rowboat rentals. If you want luxury or extras, you’ll probably have to spend more than you would on renting a fishing boat.
Location of Rental
If you plan to rent a boat for an entire day, it’s important to consider the rental’s location. For example, different tourist destinations and busy ports usually have higher demands for rentals than small towns.
Not only does location affect availability, but it can increase the price, too. Expect to pay a little extra for standard types of boats if you rent in popular spots for fishing, boating, and diving.
You’ll also want to factor in the season before you book your boat rental. Different destinations have their own seasons for tourism that could raise rental rates substantially.
Think about factors such as heat in summer, rainy seasons for tropical locations, and fishing seasons. Basically, anything that might increase the normal number of renters at a particular location.
Always consider when you need your rental and plan well in advance For example, if you want a rental for a national holiday, expect more people on vacations and with time off work.
The same goes for weekends and expect to pay more during these busier times. If possible, try renting a boat during the workweek for much cheaper rates and less of a crowd on the water.
Key Advantages of Rentals
Boat rentals are a less stressful and cheaper way to enjoy boating than buying, storing, and maintaining your own. All you have to do is arrive, choose a boat to rent, and you’re all set.
Rentals also make a good option if you live in a neighborhood with tough storage rules. Some neighborhoods won’t allow trailer and boat parking at homes.
If you’re considering buying a boat but aren’t quite sure, renting makes for a safe way to test the waters so to speak. It provides a trial of boating adventures without spending much money. Some rental agencies even help train newcomers on boat basics.
Boat rentals also help you explore a mixed collection of places instead of just one body of water. It doesn’t matter how expensive your trailer or boat is, some places you can only reach via rentals.
Drawbacks of Rentals
Some rental services let renters book a boat of their choice well ahead of time. However, other businesses only offer rentals on a first-come-first-serve basis which makes it difficult to get the boat you want.
If a rental service doesn’t allow advanced bookings, it’s extremely hard to find a rental for weekends and tourist seasons. If you manage to snag a boat during peak times, it might be the one no one else chose for a reason!
Also, you might not want a rental if you plan to bring a lot of gear like fishing or diving equipment. You can store a lot of items onboard your own boat, but you have to carry them back and forth with rentals.
Other Factors to Consider
When examining choices for rental boats, always make sure they appear safe and in working order. Begin by inspecting the boat’s general condition and start checking for any flaws.
Does it look outdated, torn up, worn out, dinged, or dented? Check for tears in the upholstery, oil leaks, and other symptoms of negligence.
If a rental agency maintains its boats properly, they should at least look good on the exterior. However, novice boaters might have difficulty determining if the boat looks maintained or not.
If you have a decent understanding of motors and machinery, you can probably spot a bad boat engine. Take a listen to the engine as it runs before selecting a rental so you don’t get stranded on the water.
If possible, ask the rental company to see their records of maintenance. You don’t have to understand all the boating terms, just pay attention to how often they maintain the boat. Note that boat maintenance occurs after a certain amount of hours rather than miles.
Examine different onboard features such as electronics to make sure they work properly. Look for essential life-support gear like life rings and life jackets. Try to bring your personal life jacket if you can so that it fits correctly.
The Costs of Boat Rentals
Now you know what factors to consider when budgeting for a boat rental. Remember this guide to pick the perfect time to rent a boat. Also, think about what features you want and which ones you can live without.
Check out our site’s lifestyle section for more helpful rental tips and other fascinating information.