THE FRACTIONAL LEASING CONCEPT

How do fractional seasonal leases differ from simply renting?
Renting usually is by the hour or by the day. You rent for as many hours as you want and pay for hours you use. Not any particular boat, but whatever is available, if one is available. Skippers who plan to sail only once or twice a season may find renting the most economical way to sail, but anyone sailing more than two or three times a season can usually do better with fractional leasing.

With our fractional seasonal leases, you lease a block of time on a particular yacht, selecting times you think will be convenient sail days. You then own these times on this particular yacht. For example, on our Islander 36's the standard lease minimum is $2,750. Instead of paying $345 to rent a 32 foot yacht for three hours, your usage charge would range from $130 to $180 depending on day of the week, for a six and one-half hour sail. You sail twice as long for half the money!

Is your fractional seasonal leasing program the same as time sharing?
Fractional leasing resembles timesharing in that both involve sharing a capital asset for a period of time, but the differences are significant! When you buy a time share in a vacation condominium, it usually implies ownership of a particular week of the year over many years. With our fractional seasonal leasing program you own time on a specific yacht, which you share with others, but only for the season, and the time need not be consecutive days. It can be spread over the season to meet your particular needs.. When the season ends you have no further obligations. If your needs change next year, you don=t have to sell the yacht. Just lease a block of time on a yacht better suited to your changed needs.

Is fractional seasonal leasing the same as bareboat chartering?
Bareboat chartering, as is common in the Caribbean, differs from fractional leasing in that the days involved in a charter are consecutive days, often for a week or two.

How does SailShare differ from other fractional sailing programs?
With SailShare you book your own sail dates and times. With other fractional sailing programs you may be assigned dates and times whether or not you an use them..

How Do You Minimize Scheduling Conflicts?
We deliberately restrict fractional leases to 50 percent of capacity on each boat to assure scheduling flexibility throughout the season. We also offer off-peak incentive rates, so some skippers try to sail mostly during the week to take advantage of the lower rates. This frees up additional weekend slots for those who really want them. At $150-$180 per sail on weekends, our skippers have a real bargain!

Are there any other upkeep/maintenance fees that I will be assessed?
No. Your fractional lease fee is all-inclusive.

What about damage?

You are responsible for the first $1,000 of damage of any kind, to our boat or someone else's. Your security deposit is only $500, so at the end of the season, if your damage exceeds $500, you pay us the difference. If your damage resposibilitiy is less than $500, you get a refund for the difference. A skipper has never had more than one incident, but if that were to occur, you would have to pay your damage responsibility for the first incident in full, so that your $500 security deposit would be replenished.

QUALIFICATIONS AND REQUIREMENTS OF CAPTAINS

What qualifications are required to join your fractional seasonal lease program?
You’re the Captain so you’ll be responsible for everyone on board as well as the yacht. You need on-the-water sailing experience, you must be a responsible sailor, and you must know the rules of right of way. Our insurance company thinks you will drive a boat the way you drive a car. So if you have any DUI incidents, you will have to explain them.

How much on-the-water experience do I need?
Several of our captains literally have decades of sailing experience. But don’t let that intimidate you. We also have sailors who have just completed basic sailing instruction and want to get started sailing. Sailing is fun almost from the very first time you’re on the water, and you’ll almost certainly acquire new skills the more you sail. From our standpoint, it’s more important that you want to sail responsibly and with consideration for others than how much sailing experience you’ve acquired.

Does my sailing experience have to be on Lake Michigan?
No. We’ll orient you to Lake Michigan sailing.

What if I’ve only sailed smaller boats?
Our experience with persons who have learned on a Rhodes 19, J22 or Colgate 26 and then leased our Catalina 27 has been excellent. It seems to be a fairly easy transition. Experience on smaller, centerboard boats usually breeds good helmsmanship and sail trim skills. But moving up to a 10 or 15 foot larger keelboat may necessitate supplemental training, such as our short Basic Skills Update course.

Do I need to have previous experience with an auxiliary motor?
No. All of our boats do have an inboard auxiliary engine. Learning how to use the engine, particularly maneuvering in the harbor, will be included in your orientation.

LITTLE THINGS YOU NEED TO KNOW

Since the yacht is moored in the harbor how do I get out to it?
A harbor tender takes you out to your yacht. All our yachts have VHF radio, so when you want to leave the yacht you use the radio to call the tender service for a ride back to the dock area.

Where do I park my car?
Most skippers park at Monroe East garage. The cost for 12 hours or less for 12 hours or less varies between $14 and $25. Park in the southeast corner of the garage. When you exit the garage, walk across Lake Shore Drive and bear right for the Harbor Office and tenders. If you are willing to walk an extra block, we can show you where to find $6 parking.

What about insurance?
We carry $1 million insurance coverage on you but you are responsible for the first $1,000 damage of any kind. If you feel a need for greater coverage you should acquire it separately. Towing is not covered, but Boat U.S. offers it to members.

Do all your yachts have marine heads?
Yes, and they work well. Most have both new marine toilets and new holding tanks. Both Islanders and Paper Tiger have push button electric flush toilets that most guests on your boat will really appreciate.

Do I have to pump out the holding tank?
No. We do that.

Do I have to refuel the auxiliary engine?
No. We do that.

Where do I get ice?
Ice is available at the tender office and usually on the tender as well. If you forget it or run out, you can call the tender service and they’ll usually bring out more.

Who is responsible for washing down the boat?
Members splash down the boat after each use with lake water and remove their trash. Then periodically we give it a thorough scrubbing.

SCHEDULE PLANS AND SCHEDULING

You have different programs with different scheduling plans. How do I know which one is best for me?
Our fractional lease programs are designed to reflect the differing types of yachts and scheduling needs of our skippers and captains. If, for example, you want to reserve the boat for several consecutive days, possibly for a week end cruise, you will need a SailShare Islander 36 or Morgan 42. If you are relatively new to sailing, prefer a smaller boat, or are unsure when or even how often you can sail this summer, our Catalina 27/Ranger 29 program would probably be your best choice.

Islander 36 SailShare Program: When do I reserve sail times?
Schedule dates that are really important to you early, and other dates when your fairly sure you want to use them. Check the online schedule, too. If you see dates filling up near the dates you might want, it’s time to book some reservations.

What is Your Cancellation/Rescheduling Policy?
You can cancel and reschedule as needed without penalty up to 72 hours prior to sail time. Inside of 72 hours you may incur a $40 rescheduling charge.

Can I Swap Days or Work Out Other Arraignments with other Skippers on My Boat?
Yes. Just keep us posted on what the changes are. You will have e-mail and phone number contact with the other skippers. You can also invite them to crew with you when you’re short handed, and pehaps you can crew with them when they are short handed. This increases everyone’s sailing opportunities. .

YACHT USAGE QUESTIONS

I like night sailing. Is it O.K. to sail at night?
On Whirlaway (Catalina 27) you need to be in by dusk. On the larger boats you can sail at night provided you have coastal navigation and night sailing competency. You can acquire the skills you need with our Coastal Navigation and Night Navigation minicruises.

Is it permissible to stay overnight on the boat in the harbor?

Yes. Overnight stays can be fun and your yacht can be a base for exploring downtown Chicago, taking advantage of Grant Park concerts, watching Navy Pier fireworks on Wednesday and Saturday nights, etc. But we don’t want any surprises. You can stay overnight so long as you are off the yacht by 9:00 a.m. when your time block ends and the next captain could be arriving. Sunday through Thursday the last tender call is at 11 p.m. If you sleep over you won’t be able to leave until 8:00a.m.

Is it possible to make arrangements with skippers who will be on the boat ahead of me to use the boat when they leave, if they happen to be leaving early?
Yes, and skippers frequently do make arrangements like that.

Is it permissible to anchor the yacht?
If you have been checked out for anchoring, yes. Most people who want to anchor go to the protected anchorage off Oak Street beach, just inside the outer breakwater. If you haven’t anchored before, this may be the summer to learn. We’ll help.

Is it permissible to swim off the yacht?
Swimming is definitely at your own risk. But people do swim, usually at the anchorage off Oak Street beach. Caution is the important word. Make sure you steer clear of other boaters who might not see you. And don’t ever leave the boat unattended while someone is swimming.

Is it permissible to visit another harbor during a daysail?
Daysailing to another harbor adds adventure to your sailing. However, you’ll need to be confident of your docking and foreign harbor abilities. If you haven’t done it, it might be something to learn this summer. We’ll help you. For our smaller boats, Jackson Park Outer Harbor is within daysail range and has a restaurant people like to stop at for lunch. Just be careful docking. You’re responsible for damage you do.
Is there a nearby harbor we could visit overnight with our Islander 36 and return the next day?
Islander 36 SailShare skippers could plan an overnight cruise to Montrose, Belmont, Burnham, Jackson Park (risky unless dredged). Hammond (Jack Binyon’s Casino), Indiana Harbor (Resorts East Casino)..

Are longer cruises permissible?
Islander 36 skippers have cruised to Michigan City, New Buffalo, St. Joseph, and South Haven. If you have coastal cruising and anchoring /docking skills and experience maneuvering a sailboat into and out of a slip, you can talk to us about short term cruising. If you have no coastal cruising background, you can sign up for instruction with us that leads to cruising qualification.

ORIENTATION AND CHECKOUT

What should I expect in terms of orientation and checkout?
It depends on your experience on Lake Michigan, your familiarity with Monroe Harbor and your yacht, but two three hour sessions are the norm.

Why two sessions?
We want you to be confident in your ability to sail Lake Michigan safely. The first session is for boat and harbor familiarization including practice leaving and returning to your mooring. The second session is on-th-lake sailing with our instructor.

Does the orientation come out of my sail time?
No. Both sessions are included in your fractional lease.

Why do both parties have an opportunity to cancel the lease agreement after the orientation/checkout session?
This is when you see our yacht and we learn about your behavior at the helm. We do our best to give you an accurate idea of what to expect in our yachts, and no doubt you do your best to give us an accurate idea of what we can expect from you as a skipper. If our yacht doesn’t meet your expectations or your seamanship doesn’t meet ours, this is the time to void the agreement. Hopefully this will never happen, but the possibility needs to be addressed. More than ninety percent of our new skippers have returned for a second season, and we want to keep the experiences working out well for both of us.

PARTNERSHIP SHARES

I would like to split the cost of my fractional lease with another member. Can two members share one fractional lease?
Yes.

Would my partner have to be a member in order to split the cost of the fractional lease?
No. You can split the fractional lease fee between partners any way you want, But you would always be the responsible party on board.

If my partner is not a member would I always have to be at the helm?
No. As member-skipper, you are in charge and can assign duties, including helm duties as you see fit.
But as member-skipper, you would always be the responsible party on board.

There are two types of partners: crew-only partners and member-partners. Crew-only partners pay no membership fee. They can. They cannot take the boat out on their own. Member-partners are members and pay the membership fee, so of course, they can take the boat out on their own. In either case, the boat is not allowed to leave her mooring without a member captain aboard as the responsible party.

The easiest way to understand the partnership policy is to remember that.

If my partner is not a member, but in my opinion a competent sailor, could he or she sail the boat on days when I am not available to be on board?
No.

Can you tell me something about the captains who skipper your boats?
Our skippers don’t fit a single mold. They come from all corners of the Chicago area. The thread that unifies them is their love for sailing and classic yachts. Some just like the look of our boats with their low slung design, others appreciate the way they cut through the water. The same design that makes them so appealing to the eye, gives them sailing ability that modern boats cannot match.

We have captains who spend most of their time in the harbor, relaxing with the Chicago skyline. Others are competitive racers who like to push themselves. Many of our captains use our boats to entertain clients; we also have at least one who takes out a youth group. We have captains in their 20s and captains in their 70s. We have skippers who have learned to sail on our boats in the past few years and those who have decades of blue water experience.

In short, if you love to sail, you’ll fit right in.