Renting a marina slip is a great way to have easy access to a waterway. Here are some things that you should do when you are getting ready to sign a rental agreement.
Review Payment Information
Your lease will say what amount you have to pay over each month or quarter. Leases often set fees based on the linear foot of a vessel, but some have a flat monthly fee for slips.
Get Adequate Insurance
A marina’s insurance will probably be unable to address most types of damage that your vessel could sustain or any damage that it may cause to another vessel. You may need to carry a minimum level of coverage as a provision of your rental agreement. In addition, you may have to list the marina as an interested party or an additional insured on your rental contract.
Understand What’s Expected of You
All marina slip contracts will identify some important things that lessees must do and probably a few things that they cannot do. For example, a lease will likely require that you keep your boat in good condition, and it may prohibit you from fueling your boat while it is in the marina. Be sure that you are able to comply with all of the terms set forth in a lease before agreeing to it.