TMM Yacht OWNERSHIP
OUR YACHT MANAGEMENT PROGRAM
TMM operates a charter base in Road Town, Tortola in the British Virgin Islands. TMM offers a management program that is very flexible and leaves the owner with a great deal of involvement that is not present in schemes offered by other well know companies. TMM has been in business for over 42 years, 38 with the present owner and is ranked as one of the best charter companies in the Caribbean with a reputation of service and quality.
HOW OUR PROGRAM WORKS
TMM advertises extensively in U.S. yachting publications such as Sail Magazine, Cruising World, Sailing and others. We have our own booking office located in Lake Geneva, Wisconsin. In addition to the charters generated by TMM there are many independent brokers who book with us. Any charters booked by us or one of our agents are subject to a commission of 25%. Any charters booked on your own yacht are non commissionable so long as all paperwork and money collection is handled by the owner.
When preparing a yacht for charter, it is cleaned and goes through a complete mechanical, rigging and general maintenance check. Linens and towels are put aboard and the berths are made up. Dinghy and outboard, fuel, propane, cleaning materials etc. are made ready and put aboard the yacht. When the charterers arrive they are met at either the airport or ferry dock by our taxi drivers and brought to the marina. On arrival at TMM’s base they are welcomed at the office and all final monies are collected and flights are reconfirmed. They then receive a full chart brief/familiarization of the area before being fully briefed on the systems aboard their yacht. Inventory is checked with them and signed for. Finally they go for a short trial sail with one of the TMM staff as a final check that they are able to handle the boat. If at this stage TMM’s staff decide that they are not qualified to handle the yacht we do reserve the right to put a skipper aboard at the charterer’s expense. At the end of the charter we go through a complete debrief on the yacht systems and check the inventory. The yacht is then cleaned.
For the charter turnaround service the following rates apply:
MONOHULLS UP TO 42′ $560.00
MONOHULLS OVER 42′ $580.00
FOR BOATS WITH GENERATOR AND AIR CONDITIONING ADD $75.00
CATAMARANS UNDER 40 WITH NO A/C’ $580.00
CATAMARANS OVER 42′ WITH A/C $690.00
For simplicity in billing purposes we add to the cost of the turnaround the following fixed price items which are included in the charter fee: Cleaning package, Outboard gas, Initial ice (4 bags). Propane and Water (one full fill). Pricing for these is reviewed each year. There is only one other charter expense incurred by the owner. This is: Laundry – $7.00/person/week
This service is performed only when the yacht is not on charter and is not occupied. This service consists of checking all fenders, dock lines and bilges daily, running the engine for at least 1 hour per week and generally making sure that the yacht is in operational condition ready for charter at all times. For this service we charge the following fees: $200.00 per month for yachts up to 40′ $250.00 per month for yachts over 40′ This fee is charged monthly in advance and you receive a credit at the end of each month for all the days that the boat is not at the dock or is occupied.
TMM operates a fleet insurance policy. Rates are currently approximately 2.2% of hull value. We do not insist that owners use this policy but most choose to. If the owner chooses to take out his own insurance then we expect coverage to be as good as or better than the fleet policy and TMM must be added as a named insured.
Dockage is billed monthly in advance at the following monthly rates: $24.00 ft for catamarans and $20.00ft for monohulls.
All maintenance is detailed on worksheets that are issued and billed to owners on a monthly basis. Labor is billed hourly at approximately the following rates: Management – $70.00/hour Senior Mechanic – $70.00/hour Mechanic – $50.00/hour Varnish/Fiberglass worker – $50.00/hour Rigger – $50.00/hour Cleaners/Unskilled – $25.00 to $35.00/hour.
All parts are billed to the owner and itemized on your monthly statement.
Owners lockers are available for storing personal gear. These are approximately 4’x3’x2′ and are charged at $15 per month
Should chaseboat service be required it is billed at a rate of $100.00 per running hour.
For yachts up to 40′ – $400.00 per year
For yachts 40′ to 50′ – $600.00 per year
For yachts over 50′ – $800.00 per year
Licenses are renewable annually on November 1st each year.
The cost of water and electricity used for general boat cleaning and battery charging is billed at a flat rate of $135.00 per month.
At the end of every month the owner receives a statement detailing all income and expenses together with a schedule of all advance bookings on their yacht. TMM places no restriction on the amount of time that an owner may use their yacht.