What is a Yacht Management Company?
The first days of yacht ownership can reflect the hobbyist idea of escaping the stress of daily routines, but going forward a yacht often becomes a liability only adding to our already long existing list of chores. To reduce the stress, time and effort required in keeping your boat in peak performance, yacht management companies exist. Doing the required yacht maintenance, a yacht management company often completes a range of additional services catered to the tastes of various yacht owners.
What does a Yacht Management Company Do?
A yacht management company will tailor their service packages to the exact needs of the owner of the yacht itself. Such services range in categories such as financial management, security and safety management, technical management and crew administration and more.
When Do you Know you are in need of a Yacht Management Company
When your Yacht is not just a getaway from your everyday life, but is a primary factor in your everyday life, you might be able to do everything to keep your boat in shape on your own. However, if you have a Yacht, which you use for recreational purposes, most often you will be able to benefit in one way or another from hiring a yacht management company.
The Cost of Yacht Management Companies
Depending on the size of your yacht and the specific package you’ve chosen that is tailored to your needs, the cost of yacht management services can vary. Usually for a commercial yacht with a size of 150 feet or above can cost in the range of $35,000 to $50,000 annually, but estimates can vary and for a 150 feet motor yacht you might be required to spend more than $10,000 per month for yacht management.
