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Old 07-11-2019, 08:43 PM   #1
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RV Fractional Ownership or Shares

Hello!

Just spit ballin' here...

I was at dinner tonight with a bunch of contemporaries - dads with families/kids. We got on the topic of RVs. Many seemed fascinated we own one and travel in it. A couple guys seemed they wanted to try it.

Airplanes sometimes are purchased through fractional ownership (i.e. 4 people own 25%). For a while, I owned a share (1/20th or something) in 2 planes as a part of a flying club. It makes flying/owning a plane more affordable especially since they aren't flown constantly.

Airplanes have complex systems too. It seems to work.

Thinking about RVs - I think I read on this forum 21 days is average annual use of RV's. We are in that camp. In pains me to think of our RV not being used constantly but life, work, etc. are all competing. It'd be cool if someone trustworthy could use it, too. Please note, I'm not thinking of renting it.

Have you seen or are there RV shares/fractional ownerships? Are RVs too personal (i.e. our houses) to share? Are there other reasons?

Again, just wondering. Thanks in advance!

Edwin
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Old 07-11-2019, 08:58 PM   #2
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It would probably have to be a signed contractural(sp?) agreement where everyone agreed to chip in their share for maintenance and repair costs (I assume similar to a time-share condo). The only other drawback would be determining a fair way to decide who got to use it on holidays or other times where more than one party wanted it. How did your flying club handle these things?
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Old 07-11-2019, 09:04 PM   #3
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Ever try to organize a stampede ?
Main issue would revolve about time of use , families will want to use the RV when the kids are out of school and probably most wouldn't want to book their time a year in advance , or draw straws for booking order.

I guess it could be done but it could also backfire and cost you friends.
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Old 07-11-2019, 09:06 PM   #4
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I know of similar partnerships with boats. Usually one guy uses it all the time and everyone else pays for maintenance. It's great if you are the one using it but usually horrible for everyone else!
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Old 07-11-2019, 10:56 PM   #5
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Handling repair and maintenance would be my big concerns, particularly unless you have a detailed inspection after each trip to find all the things that broke. Also where do you draw the line between normal wear and damage, and to what standard do you maintain it, keeping an RV in like new condition can get very expensive.
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Old 07-11-2019, 11:09 PM   #6
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My father once owned 50% of a King Air, a private plane, and it lasted less than a year. One persons idea of clean, maintenance, pride of ownership is never the same as others. He said never again and from that point forward always owned his own plane. I remember heading to airport for a trip, and had to clean as well as re fuel the plane before departing.
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Old 07-12-2019, 06:07 AM   #7
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I've owned two planes in partnerships and also wondered how this might work in an RV. I Owned an Arrow and later a Mooney)

Our partnerships were limited to 4. We had a very detailed agreement that defined usage, reservations, maintenance, breakdowns, etc. never had any problems.

i.e. Usage - Primary pilot (PP) rotated every week (7 day period) The PP did not need to reserve the plane during their week, but was recommended so others could see the PP intentions. PP could use it anytime, and could bump a non-primary pilot off the schedule. However, once a non-PP had possession (i.e. performing preflight) he could not be bumped. Non-PP could not overnight without PP approval. Once a PP gives approval, it cannot be revoked

Pilots could swap their weeks, i.e. I want to take a 10 day trip to the east coast, so I'd swap or deal so that I had two weeks as PP in a row.

When the plane was returned, It had to be clean inside and out, full of fuel, oil etc, etc, ready for the next usage.


We paid a monthly fee AND an hourly usage fee. This money went to pay the annual service and also an engine overhaul reserve.


In an RV, I suspect there would be a monthly fee, and three usage fees, one based on time, one based on miles, one based on generator use.

THOUGHTS:

Fixed cost - $50 a month - Insurance, storage, road hazard, annual maintenance (i.e. winterizing,)

Usage fee - $10 a day - repair / maintenance of non-mechanical stuff, i.e. oven, furnace, windows etc.

Usage fee miles - $0.50 per mile - pay for mechanical maintenance, i.e. tires, engine oil change, grease job, etc. Anything to do with the vehicle.

Usage fee Generator - $6 per hour - Generator maintenance.

BREAKDOWNS - Away from home breakdown repair costs would be reimbursed, but additional expenses would not, i.e. hotel, meals if wait for repair. Partnership would need unanimous approval to reimburse for retrieval cost, etc.
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Old 07-12-2019, 06:26 AM   #8
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Just a note. Aircraft maintenance minimum requirements are defined by the FAA (Federal Aeronautics Administration). Ex. If "A" is not done, or no longer meets clearly defined standards, than the aircraft is grounded pending repairs. Makes it a little easier to agree on what maintenance/expense HAS to be accomplished with an aircraft. With an RV, it's much more of a "grey area". Is replacing the tires at 7 years mandatory, or discretionary? What about the rear camera being on the fritz? If those darn electric shades keep sticking going up and down, do they have to be fixed now, or can we defer them for another year? If you have a partner who is always balking on shelling out HIS money for repairs that everyone else thinks should be done . . . . See the problem? With an aircraft, it's clearer, not necessarily crystal clear, for clearer. If it doesn't get fixed, it is a hangar queen . . . RV, not so much . . .

Good luck in whatever you do, but have any agreement in writing, nail down the details to a gnat's rear. And don't go into the ownership sharing with anyone you can't afford to lose as a friend!
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Old 07-12-2019, 06:27 AM   #9
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Good luck in whatever you do, but have any agreement in writing, nail down the details to a gnat's rear. And don't go into the ownership sharing with anyone you can't afford to lose as a friend!
Exactly...
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Old 07-12-2019, 06:37 AM   #10
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Originally Posted by daveandcarol View Post
It would probably have to be a signed contractural(sp?) agreement where everyone agreed to chip in their share for maintenance and repair costs (I assume similar to a time-share condo). The only other drawback would be determining a fair way to decide who got to use it on holidays or other times where more than one party wanted it. How did your flying club handle these things?
Thanks! Makes sense and great points. We used an online scheduling program. For the most part, it was first come, first serve. I believe (it was 10 years ago ) anything longer than a week had to be approved. The logic there was someone could only have 4 hours of flight time, but keep the plane parked for a while. Meanwhile, the plane could be generating revenue for shorter trips.

With RV'ing, longer trips are not uncommon and it's not as much about the revenue.

For the most part, with RV'ing, sadly, we are lucky to get out on a trip over 8 days with work and life commitments. Just a thought - if shared among families, the trips wouldn't be for a whole month. A week here, a week there...
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Old 07-12-2019, 06:45 AM   #11
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Originally Posted by RunningHard View Post
My father once owned 50% of a King Air, a private plane, and it lasted less than a year. One persons idea of clean, maintenance, pride of ownership is never the same as others. He said never again and from that point forward always owned his own plane. I remember heading to airport for a trip, and had to clean as well as re fuel the plane before departing.
Thanks! LOL! Been there - water bottles, sectionals, and crackers always seem left behind. And there's never a garbage can close by on the ramp. Back through the gate...
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Old 07-12-2019, 06:59 AM   #12
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Originally Posted by Waiter21 View Post
Exactly...
WOW! Great financial breakdown and thoughts. Thanks!!!

Never flew a Mooney, but did my complex, some trips, and partially my IR in an Arrow. What a fun plane. Now my wife hates any turbulence, and hence, us RV'ing.



These are all good points about FARs vs. the gray stuff of RV maintenance. Never thought of it that way.

I certainly don't want to ruin any friendships.

I was thinking for some folks, the idea of owning an RV may seem intimidating. I know it was for me at first (and still is sometimes). Sharing it with someone especially with some experience may make it seem less so.

Appreciate all the responses!
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Old 07-12-2019, 07:00 AM   #13
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It's kinda like loaning family members money. Just don't do it. Sharing financial responsibilities with anyone (other than your spouse and even that is sometimes sketchy) is the best way to ruin a friendship. If you want to occasionally RV, rent a coach. You will be much better off than arguing about why Bob can't pay his share of whatever Fred damaged or broke while he was using it.

People are licensed and trained to use airplanes, RV's not so much.
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Old 07-12-2019, 07:12 AM   #14
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Quote:
Never flew a Mooney
Great airplane. only problem was gear handle.. When the handle is up, the gear is down. When the handle is down, the gear is up..
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