We do things in a simpler fashion for our Arrow. Fixed costs and
maintenance costs are split evenly among the three co-owners. We do not
charge ourselves any hourly fees for reserves, and thus each of us assume
the effective depreciation of value associated with increasing hours on the
engine and prop. When we put in a factory rebuilt engine and overhauled the
prop a couple of years ago we split the bills 3 ways. On a day-to-day
basis, one of the partners is responsible for paying the monthly hangar
rent, another for the annual insurance premium, and the third for
maintenance bills. We then settle up periodically. Each pilot replaces the
fuel he uses. (We keep the plane fueled "to the tabs" so as to retain cabin
load for four people.)

This system works well for us, but only because the three partners use the
plane roughly the same amount each year. If this were not the case, a
system with an hourly charge for maintenance and engine reserve would be
fairer.


-Elliott Drucker