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Old 03-18-2021, 11:21 AM   #1
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Co-ownership?

Hi All
I am in the process of professionally converting my 23 foot 2005 Blue Bird Micro Bird into a Skoolie (and doing it right). It has new tires and battery, solid brakes and just a few rust spots AND has only 49,000 miles on it. I am semi-retired and only plan to use the bus for about three months out of the year. Are there people who might be interested in a long-term lease or co-ownership for those other months?
Matt

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Old 03-18-2021, 11:48 AM   #2
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I expect finding insurance for that scenario will prove to be difficult and expensive.
Jack
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Old 03-18-2021, 02:01 PM   #3
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I second the insurance concern but on a more fundamental level how do you propose to solidify such an arrangement? Unless it's with people you know very well already and can engage in financial considerations without it devolving into lawsuits I don't think there's more than 3 people in this world I would consider 'sharing' my RV with and only one of them is family. The issue of timing each member's usage period comes to mind because chances are everyone's going to want similar times of the year to be allowed access. If they're not geographically close to you there's also logistics to deliver and retrieve it after each usage period. Whose insurance is in force during which periods? Who's going to pay for routine maintenance? Regular wear and tear? What about unexpected damages or breakdowns?

I think I am a pretty generous and accommodating person by nature but I've had a few occasions when that's overridden my better judgment and in every case it's cost me at minimum unplanned expenses and headaches and in at least one case a friendship. This is why they say don't do business with family but also any friendships that cannot weather a financial loss or dispute. Now if I lend money or items to anyone I write it off in my head immediately because I don't want the outstanding balance to color the relationship. If they return/repay, it says much about them. If they don't, I have to be willing not to hold it against them. If you can't imagine anyone with whom you could continue to be in a relationship after they've totaled your RV, then don't lend it to them in the first place.

Regardless of how you want to structure this, first and foremost you need to settle for yourself if that vehicle is yours or a negotiated asset that you are an equity shareholder. If the latter, then that means you view the RV like a timeshare and understanding it's not yours to have the final say. If you can't move beyond that, then don't do it.
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Old 03-18-2021, 02:09 PM   #4
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people share ownership in airplanes

Look into how things are done there in the general aviation world. You may find a model that you can mimic there. I think the usual problems, insurance, operation costs, who pays for what can be found in those examples. This has been for done quite a while and am reasonably sure it has been lawyered to death.

william
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Old 03-18-2021, 02:27 PM   #5
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The costs of setting up the legal structures and ongoing insurance

will be greater than the cost of the bus.

Maybe if you were setting up an actual rental company say in the Bay area or Seattle, might be worthwhile then.
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