How to rent out my airplane

"Murphy" wrote in :

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".

As for insurance, you could insure it just for yourself to fly, and
then require your renters to carry renter/borrower insurance for the
full hull value.



From what I understand, the "renters insurance", also called non-owned,
will only cover losses for which the renter is liable due to there fault or
negligence....

So if your renter crashes due to an engine out, due to a dead magneto or
other failure that was not his fault, you then have zero coverage for that
plane.

--
ET


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