Yacht Owners: What Does Yacht Charter Management Really Involve?

If you are the proud owner of a beautiful yacht, the chances are you only get to enjoy it with your loved ones for a few weeks every summer.

Rather than letting it sit idly in a marina, why not consider chartering your yacht and letting others enjoy it, too? Working with a specialist company that handles all aspects of yacht charter management means that you can generate some welcome additional income, while knowing that your yacht is being well maintained, thoroughly supervised, and is in the safest of hands. But is it really worth outsourcing? And what does yacht charter management from the professionals actually involve? Discover the answers below.

What goes into yacht charter management?

A reputable yacht charter management team will adhere to industry standards and have qualifications with the two main industry bodies, The Worldwide Yachting Association (MYBA) and the Charter Yacht Brokers Association (CYBA).

Yacht charter management professionals understand the business side of yachting, offering  owners a dedicated, confidential and world-class luxury yacht charter management service. They will always be on hand to meet the complex demands of yacht ownership, chartering, and day-to-day yacht operations, proactively working with owners, captains and crew members to ensure that even the smallest of details are covered.

Extensive knowledge & a worldwide database of charterers

A yacht charter management team will have extensive knowledge of maritime regulations and contracts, and so will take care of all necessary paperwork. They will also take time to understand the owner's requirements and expectations, working with them to create a yacht charter management strategy which not only accommodates the owner's desired time on board, it also optimises potential charter revenue.

A dedicated yacht charter management team will have a worldwide database of charter brokers and will actively promote and market their vessels, ensuring that the yacht is a good fit for their clients.

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Ensuring an extraordinary experience for charter guests

It’s important to owners that their guests have a wonderful time onboard their yachts, as this will create repeat business, and a yacht charter management team will work hard to make sure this happens. Their client service will involve all kinds of details, from providing tailored itineraries and onboard provisions, to even recommending restaurants during shore visits.

Financial & maintenance experts to oversee everything

Equally they will handle the financial aspects of yacht chartering, so that owners don't have to worry about insurance, late payments or security deposits – all this will be taken care of.

They will also oversee any necessary or routine maintenance or repairs, ensuring the safety, reliability and compliance of all their yachts, while handling all associated costs.

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Superyachts – like running a small corporation

Owning and operating a superyacht may be compared to running a small corporation, so it makes sense to delegate the management to a reliable, professional and experienced team of yacht charter management specialists. After all, as we have seen, running a yacht charter is a lot harder than you might think!

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