Syndicate Rules and Costs

[jabiru17]

Hi All, Anyone got any good ideas on Syndicate ownership versus private ownership. I am looking to buy a Jab J170 or a J230 as a first plane. I can see benefits and problems associated with syndicate ownership versus private outright ownership. Anyone got any advice, good or bad experiences that may assist in my decision? I live in the Seymour/Euroa area of Victoria, anyone else looking to buy, sell or share in the area?

 

 

[facthunter]

Syndicate?

 

It can work. The people involved will either make it work or STOP it working properly. Choose them carefully and write simple clear rules. Allow people to exit the contract under specified conditions and have a way of assessing Value of interest in case of death etc of one member.. Cover on-going due maintenance anticipated costs. Conflicting availability interests. Insurance costs with differing experience levels etc ..

 

Consult with others who have had experiences. (This is what you are already doing here but perhaps seek personal contact. ). Nev

 

 

[Guest drizzt1978]

Hello Mr Jabiru,

 

We have a Syndicate; a j230 in Tooradin. We have a share for sale, with a possible buyer at the moment. There is 6 of us. We book online, You treat the plane and others with respect, common give and take attitude... $60hr and $125 a month. (thats with money building in the bank for the engine over haul or unforseen mainteance) Works a treat, Im takeing it away for ten days in January; everyone is fine with that as they can do that too, when they want! Everyobody has to sign off on the new guy. There are basic rules about looking after the plane. BUT it all comes down to that one bad egg! You gota make sure, that they are the right group of guys/gals! Quite often there has been hanger talk of "oh such and such wanted to buy that share" And thn someone says "ah no thats guys a !@#$@#$@!#," So thats how it works. Makeing sure the understanable, easy going BUT responsible types are all together!

 

 

[Guest rocketdriver]

Try this link ...http://www.recreationalflying.com/forum/general-discussion/84783-forming-joining-syndicate.html

 

Regards

 

RD

 

 

[flying dog]

Yeah, I have kind of had this situation.

 

I fully agree: The rules need to be clear and simple.

 

Although the excuse is "there are exceptions"..... blah blah blah.

 

Yeah, in the "real world" there are these situations. But they should NOT be included in the rules. It only makes things complicated.

 

Hourly rates should be slightly more than the cost of fuel to cover other things so if you are not flying it a lot and there is a problem with a tyre you are not hit for the cost of replacing it. That isn't fair as you are not flying it as much as the others, so why should you pay.

 

(Note "you" is used to mean ANY of the people in the syndicate and not specifically YOU.)