It’s no secret that finding a secure spot for your boat isn’t always an easy endeavor, especially on long trips that need specific arrangements ahead of time. That’s why so many boat owners turn to boat slip rentals as a way to ensure their vessel has a place to dock when they need it. But, it’s not just boaters who benefit from this arrangement – boat slip owners can make passive income by renting out their dock. Here are 3 tips to follow if you’re looking to rent out your boat slip.

1. Determine Your Usage Rules and Regulations.

Before advertising or even accepting bookings, it’s important to establish clear usage rules and regulations for your boat slip renters. This can include:

  1. Maximum length of time the slip can be rented (short or long term).
  2. Any restrictions on boat size or type (live-in or vacant parking).
  3. Available amenities nearby or on the boat slip property.
  4. Rules around accessing the waterfront.
  5. How payment is handled.

This helps ensure that both parties have a clear understanding of expectations, and can avoid any potential conflicts or misunderstandings.

2. & Cover Liability With a Rental Agreement.

While renting out a boat slip is a fantastic opportunity for dock owners to make a passive income, it’s important to distinguish potential liability issues, and outline them in a written rental agreement to ensure both parties are protected. This can include covering any damage to the boat slip, liability for accidents that occur on the property, and clarifying the terms of rental and usage.

Sometimes, despite your best efforts, things can go wrong, and you might find yourself in need of some help. When using Connecthedocks to rent out a boat slip, our Dock Host Liability Insurance Coverage protects you and your dock from unforeseen incidents that may occur even with a rental agreement in place.

3. Market & Advertise Your Boat Slip Rental.

With the usage rules and rental agreement out of the way, it’s time to start marketing and advertising your boat slip rental. Consider listing your dock on peer-to-peer platforms like Connecthedocks, through social media groups, or on the local classifieds. You can also reach out to your local marinas and boating communities to advertise digitally, or spread awareness through word of mouth.

Also consider offering special deals or discounts for long term rentals, or bundling your boat slip rental with additional amenities. Those with private docks can utilize security and location as selling points, while marina-based boat slips have access to the nearby marina’s showers or lounge areas.

Renting out your boat slip can be a great way to bring in some extra income, but it’s important to be prepared and informed before diving in. By determining usage regulations, outlining liability with a rental agreement, and effectively advertising your boat slip rental, you’ll set yourself up for success as a dock owner. Happy sailing!