They say the two best days in a boat owner's life are the day you buy your boat and the day you sell it. What about the day you start making $19k+ a month from it?!

Well, that’s exactly what happened to this 32-year-old French woman and her husband. With a masters degree in business development and working her way up to become the marketing director at Aquajet Miami, Mylène G came upon a new way of making money through a platform similar to Airbnb (except for renting boats instead of homes) called Boatsetter. She had actually moved on from Aquajet at the time and was working in real estate while her husband was working as a captain AND managed property. With both of their backgrounds, this boat rental platform was the perfect fit. After taking the plunge and purchasing their first boat around the height of COVID-19, Boatsetter helped them pay off their boat and earn an income. From there, the couple eventually scaled to having five boats listed on the platform, raking in a steady $19,800/month.

The level of difficulty of getting started in boat rentals can vary drastically. This can range depending on if you currently own a boat or still need to buy one, whether you have money saved up for maintenance, platform feed, potential emergencies, and so many other factors. If you already have a boat, you can simply sign up with a rental platform like Boatsetter or Get My Boat, and list your boat for potential renters to book. You can set it up as a captained charter or an uncaptained charter, carefully manage the pricing, and even set specific dates that your boat will be available to rent. If you don’t already have a boat, like Mylène and her husband, you’ll need to purchase one. This can be done via BoatTrader, a local boat dealership, or even Facebook Marketplace.

When renting out a boat, there are a few important factors to consider. You’ll need to think about what type of boat you want to rent out, how much money you are hoping to bring in each month from rental income, how many passengers it will hold, and even what the rental experience will be like from a customer’s perspective. A good way to start researching what type of boat you want to rent out is to go directly to the platform and browsing existing listings. Find boats that have high charter counts, great reviews, and good price points. This will start to steer you I the right direction and get you started off on the right foot. This could all vary depending on your location as well. Boats that are popular in Miami will likely be different than those popular in the Lake of the Ozarks.

Now that you’ve bought your boat, you’re most likely going to want to make a few upgrades before getting it out on the water. The more fun accessories you can add and the better your boat looks, the more people will want to rent it. Whether you need to upgrade your ladder for a better onboarding experience or add more rod holders for passengers to go fishing, you can find affordably priced quality hardware at Marine Depot Direct.

Once you’ve got your first boat operational and are feeling much more comfortable with how everything works, it might be time to start thinking about adding another boat, or two, or three. The best way to do this is to reinvest the money you make from the platform into paying off your boat and into buying your

next boat, and so on. The more you can invest in the early days, the more benefit you will reap later down the line. And the more you invest in the rental experience (complimentary drinks, snacks, toys, watersports, etc.), the more likely you will see repeat renters. Ultimately, you want to provide a great experience that will organically generate good reviews and a strong listing presence on the rental platform you decide to use.

At first glance, $19k/month sounds impossible - but it’s really not. If you dedicate your time and attention to rental boats as a source of income, then getting to that level should be inevitable. Like Mylène G and her husband, leveraging a boat rental platform can help you and your family create financial independence whether you are only looking for supplemental income or want to replace your 9-5 office job. Boat rentals are a viable avenue to take and can contribute to a future filled with financial freedom and happiness.