How to rent out my airplane

It's my understanding that if you're going to rent out your plane you need
to have commercial insurance which is VERY expensive - probably on the order
of $500-$800/month. I'm not sure if you'd need the 100 hour inspections but
if you did it'd be another big expense added on to the usual maintenance
which is already expensive.

Bottomline is that unless this thing was really hopping in rentals (which
defeats the purpose of owning anyway) you'll be worse off than just letting
the thing sit in the hanger. Perhaps you should consider a partner in
owning instead.

Just my $0.02.

-Brian
N33431
Iowa City, IA

"Isaac McDonald" wrote in message
...
I am thinking of buying an airplane....I want to rent it when it is not in
use to recoup some of the cost of buying the plane. How hard is it to do
this? What are the insurance costs? How often do I need to get it checked
out by an aviation mechanic? How much is the maintenece? Do I have to go
through an FBO? Or can I just place a classified ad....eg. "plane for
rent...$50 an hour".

Thanks in advance.

Isaac

Just my $0.02.

1969 Aero Commander 100, cheap airplane only owner - Best

1963 182, Started 4 partners, bought them out - Bad. After I bought them out -
Better

1963 Mooney, 1 other partner - Better

1980 172 five person club - Terrible - Especially with two Doctors

Sole ownership of an older clean airplane is the best for Me without a close
second.

Just my 2¢ worth

Curious about the "Terrible - Especially with two Doctors" comment. I am
conteplating a partnership in a '75 Mooney M20C with a Doctor. Please
elaborate. Thanks !!

Jon Kraus
PP-ASEL-IA
Student Aircraft Purchaser

WARREN1157 wrote:

Just my $0.02.


1969 Aero Commander 100, cheap airplane only owner - Best

1963 182, Started 4 partners, bought them out - Bad. After I bought them out -
Better

1963 Mooney, 1 other partner - Better

1980 172 five person club - Terrible - Especially with two Doctors

Sole ownership of an older clean airplane is the best for Me without a close
second.

Just my 2¢ worth

Curious about the "Terrible - Especially with two Doctors" comment. I am
conteplating a partnership in a '75 Mooney M20C with a Doctor. Please
elaborate. Thanks !!

A doctor as a partner couldn't be better. He has the disposable income
to pay his share of the expenses but doesn't have the free time to fly.
What more could you ask for ?
---
Ken Reed
http:///www.dentalzzz.com

THat was kind of what I was thinking.... Thanks.

Jon

Ken Reed wrote:
Curious about the "Terrible - Especially with two Doctors" comment. I
am conteplating a partnership in a '75 Mooney M20C with a Doctor.
Please elaborate. Thanks !!


A doctor as a partner couldn't be better. He has the disposable income
to pay his share of the expenses but doesn't have the free time to fly.
What more could you ask for ?
---
Ken Reed
http:///www.dentalzzz.com

Curious about the "Terrible - Especially with two Doctors" comment. I
am conteplating a partnership in a '75 Mooney M20C with a Doctor.
Please elaborate. Thanks !!


A doctor as a partner couldn't be better. He has the disposable income
to pay his share of the expenses but doesn't have the free time to fly.
What more could you ask for ?

Well, you could ask for a partner with similar ideas about how to use and
maintain the aircraft. Most of the decisions you have to make with your partner
will be related to maintenance, most of the rest are related to upgrades. If one
partner has lots of cash and wants to pay overtime rates to have the plane fixed
-now-, and the other partner wants to wait and ferry the airplane to another
airport with lower labor rates at his convenience, there's going to be conflict.

All that has nothing to do with whether the partner is a doctor, of course, that
part is just ignorant doctor-bashing.