Rent Out Boat
Earn Money by Renting Out Your Boat
Got a boat? You’re probably paying a small fortune in slip fees and maintenance. But you can recover some of those costs by renting out your boat. Peer-to-peer boat rental sites offer value to both boat owners and renters. If you’re a renter, you’ll find a variety of boats at reasonable prices. If you’re a boat owner, you can set your boat’s hourly price, availability, and let the site handle the marketing and payment collection.
Risks of Renting Out a Boat
Renting out a boat can be lucrative, but it comes with real risks—especially if you own a high-value boat. Accidents or poor maintenance could lead to damage, so it’s important to:
- Collect a deposit on rentals.
- Ensure commercial insurance coverage is in place.
Some peer-to-peer rental sites offer commercial coverage. Additionally, many allow you to set restrictions on rentals, such as requiring a paid captain (and you can be that captain if you wish).
Top Peer-to-Peer Boat Rental Platforms
Here are the best marketplaces to list your boat for rent:
1. LakeHop (Inland Waterways)
LakeHop operates on lakes in 39 states, where boat owners and service providers set their own rates, terms, and availability. A unique feature of LakeHop is that boat owners almost always list their boats with a “ride-share driver.” This means your boat can’t be booked without a driver—often the owner themselves.
This setup benefits owners who want to avoid the risk of inexperienced renters. It also benefits renters who get a guide at no extra cost. Additionally, you can list experiences such as water-skiing lessons or fishing trips.
Learn more about LakeHop here.
2. Boatsetter (All Waterways)
Boatsetter connects boat owners and renters on both inland and coastal waterways. Boat owners set their own rates and terms and pay a commission to the site for each rental. The commission varies based on whether or not the boat requires commercial insurance.
- If you opt for commercial insurance (underwritten by Geico Marine), the fee is 20-35% per rental.
- If your boat already has commercial or Charter Insurance coverage, you’ll pay a 10% fee per rental.
Boatsetter also allows you to offer captain services for an additional charge, or require renters to hire a captain if you prefer.
Learn more about Boatsetter here.