At Waterspace Living we’re well-known for selling a unique lifestyle on the water. Bringing you luxurious residential boats in enviable locations around the UK.
Our mission to bring you the best of all worlds: stylish living, room to breathe and a vibrant lifestyle right on your doorstep. You might be looking for an impressive apartment to live, need a convenient pied à terre or a buy to let option in the city.
Whatever you are considering, Waterspace Living is an extraordinary new way to live. As well as living on a houseboat we get asked frequently if you can stay on one of our boats. Afterall, they would be a great staycation option or an impressive night away in the city. Conversely, we get asked how easy it is to rent out a boat if you’re looking for an investment property.
So here’s our advice, tips and thoughts to help answer those burning questions.
Sample a night or two on the water and try before you take the plunge!
We frequently get asked questions about boat rental. For some prospective customers of ours who have not previously set foot on a boat, let alone stayed on one overnight, there is a desire to ‘try before they buy’.
Some of our partner marinas allow Waterside Mooring customers to let their boats out. If you would like to rent the boat we can put you in touch the dedicated hospitality company that manages bookings on our clients’ behalf. Alternatively, should you wish to find out what it’s like to live on water, before you ‘take the plunge’ you might be interested in reading Trip 101’s 18 AirBnB Houseboats in London article.
Updated in March 2021, it provides a range of floating accommodation options across the capital from idyllic spots in the shadow of Tower Bridge to less well discovered roving moorings near the Queen Elizabeth Olympic Park.
Things to look out for
When planning your stay, it is important that you fully research the accommodation and each host before you book. See what others have said on the AirBnB website as a minimum and ask the hosts lots of questions! Also bear in mind that some listings are for narrowboats which are half the size of the our luxurious wide-beam boats.
Trying a night or two on a boat may also help you with other questions about our boats like how does the heating work, what are the arrangements for water and electricity or which facilities are provided on board? We’ll be providing some of these answers as well as giving more in-depth insight to what it’s like living on a brand-new houseboat in future blogs over the coming months.
Can I rent my new houseboat out? Tips and advice from our waterway expert, Mark Blackwell.
Another common question that we get from prospective boat purchasers’ is whether they can rent out their houseboat once they’ve purchased it. This might be because the boat is considered as an investment, much in the same way land-based accommodation can be let on shorthold tenancy agreements, or merely for convenience if the boat is likely to go unoccupied for several months of the year.
We’ve already done some homework for buyers by making links with specialist lettings and management company Altido. For prospective renters, this exclusive club offers a diverse range of premium short-term accommodation from studios to family homes across London which includes some fabulous floating apartments. For home owners, they provide a no hassle, full management service so that you can outsource everything from marketing, guest communications, reservations, maintenance, cleaning and servicing the ‘property/boat’ on behalf of the owner. Typically, this can command a fee of around 20% of the chargeable nightly rate.
Check the mooring terms
Most marina operators will allow boats to be let on a six- or twelve-month basis, but it is important that you check the mooring terms and conditions very clearly beforehand. Some operators may change extra for the ‘commercial use’ being made of the mooring, particularly if an owner has multiple boats/berths.
Eliminate your monthly overheads
Renting your boat to some trustworthy and respectful tenants is a great way to finance boat ownership when you may only want to use it a few weeks a year. Rental yields in the Canary Wharf area are very strong with 1 bedroom flats starting around £1,500 per calendar month rising to over £2,500 p/c/m for a two bed flat. This return would more than cover the boat’s monthly mooring fee, council tax and potentially help to pay back any debt owed on the boat (if this applies).
What else should I consider?
Renting out your boat requires you to fulfil various obligations so that you provide a safe environment for your tenants. Rather than repeat it here, why not check out the helpful advice given by the Canal & River Trust (see https://canalrivertrust.org.uk/enjoy-the-waterways/boating/getting-afloat/renting-a-boat-to-live-on)
And finally…
If you are interested in buying one of our houseboats as a rental proposition do let us know up front. It may be possible to accommodate subtle design changes to accommodate the needs of future renters or we can simply check the current mooring terms with our partners on your behalf.
