Australian Boat Owners Monetize Vessels to Combat Rising Living Expenses

For instance, Sydney resident Jessica Dennis began renting out her second-hand boat to supplement her income. She noted that the additional earnings have been crucial in managing increased mortgage payments and grocery expenses.

Boats similar to Dennis's are being rented for between $400 and $600 per day. With Australians using their boats on average just 28 days per year, renting out these underutilized assets presents a viable income opportunity.

Matthew Lloyd, managing director of Book My Boat, reported an 80% increase in new boat owner registrations on the platform, particularly in Queensland and New South Wales. He emphasized that the platform enables owners to transform idle boats into income generators, helping them retain their vessels during challenging economic times.

Additionally, some Australians are opting to live on their boats as a cost-effective alternative to traditional housing, further highlighting the adaptability of boat ownership in the face of rising living expenses.