WSVN — South Florida is all about being on the water, but the cost of owning a boat can leave you with a sinking feeling. On tonight’s Dollars and Sense, Lynn Martinez introduces us to one company keeping your boat costs on calm waters.

The saying goes, “The best two days of boat ownership are the day you buy and the day you sell.” But one company is hoping to change that.

Andrew Sturner: “It’s the first luxury boat sharing network that’s ever been in existence. Think Airbnb meets Uber meets boating.”

The average boat owner only gets 14 good boating days a year.

Garry Jeffries: “It would probably be sitting in the barn, not doing anything because of my work schedule.”

And all that time your boat is anchored, you’re still making payments on it.

Chris Shaffner: “Boat ownership is expensive, and it’s an exciting thing, but the romance wears off after a while.”

BoatSetter is a company that lets you rent your boat when you’re not using it. You list your boat online for free, and people who want a day on the water can request to charter it. Then watch as your tide comes in.

Andrew Sturner: “They love it! We’ve got some boat owners that are with us, they’re making $4,000 or $5,000 a month off their boat right now. It’s fantastic.”

You also choose who will be manning your ship from BoatSetter’s list of certified captains.

Chris Shaffner: “Our captains are all licensed by the U.S. Coast Guard. They’ve all been vetted by us. They’ve all provided excellent references.”

Offsetting those boat costs and keeping your boat active.

Garry Jeffries: “It saved my marriage because owning a boat, you have lots of expenses, so every time I have to go into my account and take money to fix the boat, it’s a problem.”

BoatSetter takes a 20 percent commission after the rental is confirmed, but the rest of the earnings are all yours.

Garry Jeffries: “It pays for the storage. It pays for the insurance. It pays for all the repairs that the boat needed.”

Garry Jeffries: “My boat is 100 percent functional. Everything works on it now, and I didn’t have to pay for it.”

So set your sails and get ready to cash in.

Garry Jeffries: “There it is. I mean, she’s a beautiful boat, rides really well, lots of seating area, so for those of you that are watching, come on down. We’re ready for ya.”

You don’t have to own a boat to get in on the fun of BoatSetter. If you want to get out on the water but don’t want the hassle of owning a boat, charter one.

For More Information:

www.boatsetter.com

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