Charter Yacht Operating Expense Reports
Tracking, auditing and controlling charter yacht operating expenses is one of the best ways to minimize the overall cost of owning and operating a charter yacht. Unwatched, the expense of operating your yacht can and will quickly escalate to unnecessary proportions. This is where the professional staff at Regency Yacht Vacations can come to your rescue. Not only do we have the accounting staff to prepare your charter yacht operating expense reports monthly, our staff has extensive knowledge as to industry rates and costs. Our charter yacht operating expense reports will include such items as; main engine fuel consumption, generator fuel consumption, crew payroll and related tax expenses, yacht registry and flag expense, provisioning costs for your crew, provisioning costs for charter guests as well as for yourself, uniform costs, laundry costs, dockage expenses, yacht insurance expense, floral expenses, cellular or satellite telephone costs, garbage disposal, general maintenance items for mechanical and electrical systems, emergency repair costs, supplies and cleaning product costs as well as certification costs for systems and equipment when required.
The important aspect of having a professional charter yacht operating expense report prepared is that Regency will also analysis, audit and comment on items which are not in line with current industry costs. It is easy for us to see if a crew is expending far more than other similar yachts for provisions, telephone costs, maintenance or fuel. Once an area is under scrutiny it is usually quit easy to locate the area where costs have gotten out of hand. In other cases it will not be as easy to understand and will require comparative pricing from alternate vendors, testing of oil from engines or generators to see if there is a hidden problem which is causing the equipment to consume far too much fuel. At the current cost of fuel, this is one area which can save the owner thousands of dollars per month if not more. There are electronic boxes which can be installed on engines which record the speed at which the equipment is operated. Surprising each engine and generator has its own specific “sweet spot” at which it will run most economically, knowing this information can save a fortune over time. Our experience in the industry affords us the knowledge to see where expenses are out of line and thus help an owner keep their valuable asset operating at it’s most professional and economical performance.
