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 in Sydney 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 third-party ownership. As you are the boat owner, you have the right to sell your share and exit the Boat 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 boat shares for sale between 40 to 70 foot.
Step one of the process involves an initial inquiry into the type of boat share and percentage ownership that you are interested in. We will then endeavor to get in touch with you regarding your inquiry into boat shares for sale in Sydney 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 sharing. 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 private boat share syndicate. 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 have to offer.
Owners are entitled to a certain amount of days calculated on their fraction of ownership. Depending on the boat and the boat 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 the PBS boat syndication in Sydney. 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 for your boat syndication
- 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 the Sydney boat syndicate
Benefits of syndication
Walk on Walk off” hassle free boating
- More boat shares for sale for your budget
- Sharing your ongoing costs with other boat owners in Sydney
- Your boat is professionally managed and maintained
- Scheduled cleaning and maintenance