What is a luxelease Private partnership?
We are considered a "Bareboat Charter" subject to the USCG rules concerning this type of yacht leasing. "Bareboat" means that while on the Yacht, the member assumes control and "ownership" of the vessel. The boat will always be fully stocked and equipped. While we will provide guidance to assure your captain meets our qualifications and requirements, you'll choose a licensed captain for each voyage who will carry up to 12 passengers per trip.
How do I qualify?
We are limited to fewer than 5 clients for our inaugural season. We do an extensive criminal, credit and background check on each of our members. We would like to see a minimum of $250,000 in income and at least a $500,000 net worth to qualify.
What is the deposit?
The partnership will be secured with just a $5000 deposit, which is applied to your annual lease investment. The deposit is fully refundable as long as cancellation is received 90 days prior to the June 3, 2019 launch date.
Where is the boat located?
Burnham Harbor, or schedule a special pick up at City Winery downtown
When does the LuxeLease start and end?
2019 Inaugural Summer Season: June 3rd- October 31st
2020 Summer Season: May 1st-October 31st
When are the time slots? What about holidays?
EVENING: 6pm-12pm with included overnight accommodations until 8AM
Members can book up to 8 consecutive time slots in a row!
Special Holidays: Up to 1 per summer per partner based on availability
4th of July
Don't forget FIREWORKS every Wednesday and Saturday at Navy Pier!
Can my guests drink on board? What about smoking?
Boating and cocktails have long gone hand-in-hand. The boat will always be stocked for the responsible enjoyment of you and your guests, including mimosas and bloody mornings for daybreak if you stay onboard. Obviously intoxication will not be tolerated by the captain. SMOKING IS NEVER, EVER allowed on or near the yacht. Smoking on the vessel will result in an immediate termination of membership without a refund.
Which package should i choose?
The average full time boater in Lake Michigan enjoys 5-15 times on the lake each summer. We have packages offering 5, 11, and 32 days of use. Wanna truly experience what it's like enjoy your own yacht? Explore a 3 or 4 day adventure to Saugatuck or Grand Haven anytime you'd like! Run out of time? Members enjoy 60% off our daily rate based upon availability of the yacht.
What happens if the yacht is damaged by me or one of my guests?
The GoodLuxe is fully insured up to $2 million. You would only be charged for the deductible.
what about the fuel?
In accordance with "Bareboat Charter" regulance our clients are responsible for fuel consumed while on board. Our Sunseeker Manhattan gets around one MPG at 8 knots, and at full throttle she burns roughly half of that. Our insurance requires that the yacht be refueled by a licensed USCG merchant mariner which will appear as a .99 per gallon refueling fee in addition to the fuel cost.
I own a business can I write this off?
Most of our clients are business owners. Talk with your tax professional, but this investment can most certainly be used for business entertainment purposes.
I've driven boats all my life, do I really need a captain?
This is a very substantial, multimillion dollar 60,000 pound yacht. While you're welcome to join the captain at the helm, regulations require that the vessel is commanded by a USCG licensed captain at all times while underway.
How do I find a captain? Can I pick my own?
The member is responsible for selecting a captain. We will provide you with a list of credentialed captains who meet our qualifications, however you are welcome to select any captain of your choosing as long as they meet our requirements.
I've heard that getting a captain's license is only a 6 week process, if I take the class can I drive it myself?
Yes, absolutely. We have members who have done this already.
I only want to enjoy the boat at the slip while my family explores the city. Can I do this? Do i need a captain?
We will provide fresh linens for you at the beginning of your stay. There is a washer/dryer on board if you plan to stay more than one night, and no captain would be required.
Can I pay my the lease monthly?
YES! Many members pay monthly through their bank account or credit card. There is a small fee for monthly credit cards.
Do I pay taxes on this?
The city of Chicago has a 9% lease tax which applies to the monthly private partnership payments.
Can I purchase a share with a group of people?
Most of our members own businesses and many belong to partnerships. We will consider any business partnerships as long as there are a maximum of two individuals and one must be present for each cruise.
Are toys included?
Our inaugural season will include non-motorized water toys like rafts and noodles. Future seasons may see the introduction of some extra special toys, stay tuned!
What are the cancellation terms?
Since our membership is extraordinarily limited, and each member is only committed to one annual term at a time, the membership is not typically refundable. However, if the boat is unavailable do to an act of god, all members will be refunded or credited for the appropriate time period.
Can I travel across the lake? How many days at a time can I use the boat?
Of course you can! For our inaugural season, we will gladly allow overnight trips up to 4 days in length. In the future we envision encouraging even longer itineraries.
Who pays for the gas when I travel outside of Chicago for a multi-day trip?
You can pay for the fuel, however, there is always an additional 99 cent fee for fuel consumed.
Does the captain stay on the boat for overnight trips?
Yes, there is a separate captain's berth far away from the main accommodations so you won't even know he's there if you'd like privacy!
How much does A captain cost?
Licensed captains typically charge $55-$75 hourly. For overnight trips plan on roughly $500 daily.
My plans changed and I can't use the boat, when do I cancel?
We require 24 hours notice for cancellations so that someone else can enjoy the boat.
How many people can I invite onto the boat?
USCG Bareboat Charter regulations allow for up to 12 people on board plus the captain. The boat comfortably accommodates 7 sleeping passengers in the guest and crew cabin.
I'd like to compare...are there any other companies offering a similar yacht?
There has never been anything like this offered on the Great Lakes.
What about scheduling?
Easy Breezy! Log in right from your smartphone or computer. You'll have easy check boxes to tell us everything we need. You can easy reschedule through the system too.
How many members will be sharing this yacht?
If we were to utilize 100% of the available time slots between May and September we could accommodate 12-15 members. We are limiting the number to fewer than 5 to give each member true ownership experience...more than half of our time slots will go unused...intentionally!
Do you have to be nice, civil, and kind to participate?
Yes! We have a strict no A$$hole rule :). If you or your guests are perpetually unruly or rude and disrespectful we reserve the right to discontinue our relationship.
Can I wear my shoes on the yacht?
This is a relaxed, shoe-free experience!