Your Guide to Yacht Management Services
What Does a Yacht Management Company Do?
Yacht management companies offer a variety of services, including managing your yacht’s day-to-day operations, overseeing the crew, and taking care of the maintenance.
The greatest benefit of a yacht management company is having an experienced team handle all aspects of your vessel’s operation. You will have time to truly enjoy your super yacht, or to market and promote your charter, with the management and maintenance handled for you.
We can also take care of your crew recruitment, training and management. Hiring a professional crew, passionate and familiar with their jobs, will ensure an excellent service, allowing you to relax and relish in the luxury of your super yacht without concern.
The services offered are often bespoke, tailored to the yacht owners’ needs. Below you will find examples of some of the most popular services.
Yacht Management Services
Yacht Maintenance, Refit and Design
Your yacht management company will schedule regular maintenance, including the arrangement and overseeing of dry docking where required, to ensure your vessel is safe and kept to the highest standard.
We also offer bespoke refit and design services. Interior designers with expertise in architectural and design concepts specific to yachts will create your vision. Services can include creating floor plans, furniture layouts, and personalised decor.
Every detail will be accounted for, for example, creating a custom colour palette for your yacht for consistency throughout each space on board, tying in soft and hard furnishings to curate a luxury, cohesive ambience.
Find out more about PrivatSea’s projects.
Crew Recruitment and Management
Crew placement can be a challenging process for yacht owners. Finding qualified crew members with the necessary skills, experience, and personality to operate your yacht is essential to ensuring the success of your journey. To enjoy your time on board, you require reliable and capable staff members who will also make it enjoyable for everyone else aboard.
We offer crew selection services for Interior, Deck, Engine, Galley, Medical and specialised crew. After understanding your requirements, we determine which candidates would best fit your specific vessel, and complete extensive screening processes to ensure crew members are qualified and hold valid licences and certificates required for their position.
We also facilitate ongoing crew training to maintain the highest standards of service.
Having a yacht management company to manage crew rotation for vacations and to cover emergencies means your vessel will always be well manned, no matter the circumstances.
Yacht procurement is a critical yacht management service.
At the beginning of your ownership journey, a yacht management company can support you in finding the perfect yacht for sale and negotiate the price.
Once a yacht owner, your yacht management company can assist you with the procurement of supplies or materials for your yacht – anything from mechanical parts to interior finishings. They will be able to advise you on the best items for your yacht and often source items at a reduced price.
As an owner, you need to be sure that your yacht is covered in the event of an accident. And if a crew member is injured on board, they will need protection against damages to their person and/or property.
Your yacht management company will be able to advise you and tailor the best insurance policy to provide comprehensive coverage for your requirements.
Find out more about PrivatSea’s bespoke yacht management services.
How Much Are Yacht Management Fees?
As yacht management services are often specifically tailored to the needs of the yacht owner, the fees for the services can vary.
Many yacht management companies can assist you with budgeting and offer you competitive prices for the services covered by their management when compared to sourcing the equivalent yourself, so there will be areas in which they can assist you to spend your budget more wisely.
Our advice would be to contact a few companies and discuss your requirements, you can then compare the quoted fees with the offered services.
How Do You Choose a Yacht Management Company?
We would advise writing a list of your requirements which you can use to identify companies of interest based on the services they provide. From here, choose a company with values that align with your own with whom you can foster a harmonious relationship.
Ultimately, the choice is yours.