HOW BOAT SYNDICATION WORKS
First and foremost all boat shares syndicated with Prestige Boat Syndicates are owned by you. A contract of sale is completed and You, the owner, have legal title to the boat, unlike other boat syndicates where the boat is held in a company trust and you hold a share certificate in the trust. There is no encumbrance or finance on any of our boats and no 3rd party ownership. As you are the boat owner you have the right to sell your share and exit the syndicate at any time during the term of the syndicate owners agreement.
Prestige Boat Syndicates can offer syndicates involving up to 10 owners across a range of luxury boats between 40 to 70 foot.
Step one of the processes involves an initial enquiry into the type of boat share and percentage ownership that you are interested in. We will then endeavour to get in touch with you regarding your enquiry within 24 hours.
The next stage of the process will require you to fill out our expressions of interest form and to arrange a viewing of the boat you are interested in. Once you are happy with the boat you wish to purchase a share in, Prestige Boat Syndicates will send you the contract for perusal. Once contracts are signed and funds are paid you become the proud owner of your new boat. We will immediately set you up on our online booking system and arrange driver training. Within weeks you will be enjoying all that Sydney Harbour and surrounding waterways has to offer.
Owners are entitled to a certain amount of days calculated on their fraction of ownership. Depending on the boat and the syndicate each owner has either a bi-monthly or monthly booking allowance.
The monthly allowance works on the booking system being open 1 month in advance and having 90 points to use for the month. The bi monthly cycle works on the booking system opening 1 month in advance for a 2 month cycle and having 2 months of points at the beginning of the cycle.
Examples of usage :
1/8th ownership – 1 month cycle – 90points
1/8th ownership – 2 month cycle – 180 points
1/10th ownership – 2 month cycle – 150 points
|Weekdays (Mon – Thur)||20|
|Weekend Days (Sat/Sun)||50|
Prestige Boat Syndicates will oversee all boats in syndication. We look after your asset, providing a number of services to keep your boat in tip top condition. All syndicated boats will operate under a Sydney management programme and a “Walk on, Walk off” service.
Prestige Boat Syndicates will be responsible for, but not limited to the below
- Ensure all boats are cleaned and fuelled before an owner takes out the vessel
- Operate quarterly and annual detailing and servicing programmes
- Oversee online bookings
- Liaise with tradesman and services
- Prompt send out of monthly statements
- Coordinate accounts
- Maintain log books with regards to hours used on boats
- Liaise with all shareholders in the syndication and resolve any issues that arise
- Full driver training and support to all owners in syndication
Benefits of syndication
Walk on Walk off” hassle free boating
- More boat for your budget
- Sharing your ongoing costs with other boat owners
- Your boat is professionally managed and maintained
- Scheduled cleaning and maintenance