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Old 04-27-2012, 07:38 PM   #15
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I have a slightly different viewpoint based on owning a twin engine power boat for 12 years in a 3-way partnership that worked out very well for all of us. Bear in mind that boats have a large overhead starting with moorage. This was a used boat and we did a number of upgrades and replacements over the years. Fortunately we all worked well together. As a result the boat was in much better condition when it was sold that when we acquired it.

We started with an operating agreement that we all agreed to. We also were all aware that the joint ownership was a financial benefit to each and that there might be times when that needed to be remembered.

Insurance was not a problem. We had loss and liability coverage.

The agreement was simple and specified among other things:

We would split the fixed operating costs equally.

The boat was to be left clean and full of fuel after use.

Improvements were decided by vote and equally funded, Anything that was not agreed upon by all the partners could be funded one or two of the partnes if the dissenter agreed to what was going to be done.

A week by week 'ownership' schedule was set up at the first of the year. If it was your week you had full control of the use of the boat. If it was was loaned to one of the other partners, there was no incurred obligation to reciprocate in the future. (Surprisingly we thought initially this was where problems might occur, but it was never a problem. We were all working back then and had to schedule vacations. We would sit down and work out vacation schedules as early as possible the first part of the year. Other times if one of us wanted to use the boat for a day trip we'd call the partner whose week and there was rarely a conflict. If there was, it was understood that it they had priority.)

The agreement also specified that if one partner wanted out, the other two could purchase his portion at a current market value in a reasonable time (I forget the time frame) or the boat would be sold and the proceeds split equally.

So it did work for us. However I believe that much of our success was due to each of us understanding first and foremost that it was a business arrangement. Any of the problems were very minor (such as my wife wondering what happened to her favorite bowl that one of the other owners probably took home thinking it was theirs.

For each of us, the savings helped offset the 0.8 mpg we got running the boat.

So a partnership can work if done carefully and with the right partners. The key as I said is that it must be viewed as a business arrangement.

Tony & Margaret Howard
2001 Surf Side 3311 DSO
Monroe WA
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Old 04-28-2012, 09:17 AM   #16
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I would never co-own or lend/rent the RV.
If you could not swing the cost of the new unit, some dealers have a rental pool that would help with expenses.
My thoughts are that it would bring more problems than it would solve.

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Old 04-28-2012, 12:49 PM   #17
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I would have to say no also. But if it's something you really wanted to do, and it was 50/50 ownership. You would need to keep in mine they will feel the same. Because it also half theirs. MINE, MINE. good luck
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Old 04-28-2012, 03:30 PM   #18
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I wouldn't want to share our MH with anyone other than DH....
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Old 04-28-2012, 04:46 PM   #19
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Not in a million years would I let anyone use my motorhome, I am a clean freak!.... my motorhome is spotless....it would drive me nuts not knowing what somebody else was doing to it while i wasn't there, I think it is such a personal thing, that even the thought of good friends using it would make me worry about weather they were driving and using it properly and checking the fluids ect., or making a mess of the inside, I drive with my socks on!........couldn't do it!
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Old 04-28-2012, 04:51 PM   #20
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We have an understanding that we don't even loan it to our grown kids.
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Old 04-28-2012, 05:10 PM   #21
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Why don't you just rent? It's kinda like co-ownership, but with more people!
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Old 04-28-2012, 05:16 PM   #22
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Originally Posted by Bubwheat View Post
Why don't you just rent? It's kinda like co-ownership, but with more people!
Isn't it VERY difficult to rent a 40DP? I've only seen a few cases where it was advertised and it was so expensive as to be borderline crazy for someone who wants to be in it for several months per year.

Rick, Nancy, Peanut & Lola our Westie Dogs & Bailey the Sheltie.

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Old 04-28-2012, 05:17 PM   #23
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No no no to co-ownerdship & renting out a RV.
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Old 04-28-2012, 05:25 PM   #24
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Originally Posted by TXiceman
My RV is mine and all mine....and I do not do well sharing.

I fall in the same line as Ken. They have these RV's for co owners. They are called rentals
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Old 04-28-2012, 05:47 PM   #25
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The DW and I would not rent or share ownership of our MH with anyone. We don't look at the MH as an investment but as a luxury. It's a lifestyle that costs money to maintain. If I ever mentioned that I was thinking about renting or join ownership the DW would make me watch the movie, RV

Can joint ownership work. sure it could with the right folks, however I think if your trying joint ownership with family members it will fail and cause hard feelings. Kind of like the old saying "you hurt the ones you love"
Marc & Jan
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Old 04-28-2012, 05:47 PM   #26
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No not a good choice
Herb and Mar'
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Old 04-28-2012, 06:24 PM   #27
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The only way I would consider something like this would be with a solid, written agreement much as Tony H had outlined. It would have to take into account mileage caps, mandatory planned maintenance, storage and a miriad of other details. I would also insist on it being written, and signed, not only to protect the investment, but the relationship with the other owners.

I would think that it could be set up as a business, and ease insurance and registration difficulties.

Having set out all that off the cuff thinking, there is no way in the world I would even consider doing something like that.
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Old 04-28-2012, 09:53 PM   #28
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I have seen it tried in the boating world, only seen one time that a partnership work. They were as very good friends and also had a plane together.I seen brothers almost come to war.No not me.

Bob & Rita Bazley, the pups Tia & Kali ( shi-poohs)
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