Benefits of owning a Charter Boat
As demand for charters on the Chesapeake Bay continues to grow due to our exceptional sailing conditions and extended sailing season, Norton Yachts is actively seeking new sailboats to add to our charter fleet.
Did you know that most charter boats are not owned by the charter company? Boats are purchased and placed in an LLC and leased to a charter company which oversees chartering the boat to qualified skippers or captains.
Additionally, there are tax benefits to purchasing a yacht and placing it in a charter program. You get to enjoy your boat while offsetting some of your costs. We maintain your boat and manage the charter program and we will pay you a majority of the proceeds in revenue.
In deciding whether charter ownership is right for you, ask yourself three questions:
- Am I paying income tax on taxable wages or salary from my work or business?
- Do I have a limited amount of time to use my yacht?
- Am I willing to allow qualified people to charter my yacht when I’m not using it?
If the answer to these questions is “yes”, then charter ownership is something you should consider.
Why choose Norton Yachts for your Charter Boat?
There are plenty of charter companies available to lease your boat to. What sets Norton Yachts apart is that our charter fleet is backed by our service yard and team of qualified crew members that will take care of and maintain your sailboat year round. Most charter companies do not have a boatyard. We will manage your asset, market the program, maintain your boat, store and winterize it during the off season so you don’t have to worry about it.
If you are interested in learning more about placing a new yacht in charter, contact us to discuss options at 804.776.9211. If you decide to go ahead, we’ll help you select the yacht that is right for you and walk you through the entire process.